REGISTERED NUMBER: 04757016 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CURINOS INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Cadogan

J C Collins

S Singh

C S Henderson

REGISTERED OFFICE:

Curinos

107-111 Fleet Street

London

EC4A 2AB

REGISTERED NUMBER:

04757016 (England and Wales)

INDEPENDENT AUDITORS:

Byrd + Link Audit Limited

Honeybourne Place

Jessop Avenue

Cheltenham

Gloucestershire

GL50 3SH

FIXED ASSETS

Tangible assets

4

32,370

25,567

CURRENT ASSETS

Debtors

5

3,496,826

2,512,524

Cash at bank

336,757

197,272

3,833,583

2,709,796

CREDITORS

Amounts falling due within one year

6

930,153

691,781

NET CURRENT ASSETS

2,903,430

2,018,015

TOTAL ASSETS LESS CURRENT LIABILITIES

2,935,800

2,043,582

PROVISIONS FOR LIABILITIES

6,476

4,420

NET ASSETS

2,929,324

2,039,162

CAPITAL AND RESERVES

Called up share capital

7

1

1

Share premium

1,833,673

1,833,673

Retained earnings

1,095,650

205,488

SHAREHOLDERS' FUNDS

2,929,324

2,039,162

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026 and were signed on its behalf by:

C S Henderson - Director

1.	STATUTORY INFORMATION

Curinos International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company prepared the financial statements for year-end 31 December 2025 in accordance with Financial Reporting Standard 101. There is no significant impact for presenting the accounts for year-end 31 December 2025 in accordance with Financial Reporting Standard 102. There is no change in accounting policies however the notes and disclosures are detailed only as required under FRS 102.

Critical accounting judgements and key sources of estimation uncertainty

There are deemed to be no critical accounting judgements and key sources of estimation uncertainty. There are no additional critical accounting judgements and key sources of estimation uncertainty relating to climate-related risks.

Turnover

Turnover is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes, and provisions for returns and cancellations. Revenue for each category type of revenue is typically fixed at the date of the order and is not variable.

Payments received in advance of the satisfaction of a performance obligation are held as deferred income until the point at which the performance obligation is satisfied.

Where separate performance obligations are identified in a single contract, total revenue is allocated on the basis of relative stand-alone selling prices to each performance obligation, or Management's best estimate of relative value where stand-alone selling prices do not exist.

Tangible fixed assets

Fixed assets are recognised at cost less accumulated depreciation.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight line basis over its expected useful life, as follows:

Fixtures, fittings and equipment 3 to 7 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial assets

Financial assets are recognised in the Company’s Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets are classified into the following categories: trade and other receivables, and cash at bank.

Impairment of financial assets

The Company recognises lifetime expected credit losses (ECL) for trade receivables and twelve month expected credit losses for intercompany receivables. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the receivables, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. The carrying amount is reduced by the ECL through the use of a provision account. When a receivable balance is considered uncollectible, it is written off against the provision account. Subsequent recoveries of amounts previously written off are credited against the provision account. Changes in the carrying amount of the provision are recognised in the Income Statement.

Cash and cash equivalents

Cash comprises cash on hand with banks and similar institutions.

Trade and other debtors

Trade and other debtors are measured on initial recognition at fair value, and are subsequently measured at amortised cost using the effective interest rate method, less any impairment.

Financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Trade and other creditors

Trade and other creditors are initially measured at fair value, and are subsequently measured at amortised cost, using the effective interest rate method.

Going Concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

The company relies on the continued support from its parent company IBIS JV LP, which has confirmed that it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2025

88,440

Additions

14,536

At 31 December 2025

102,976

Depreciation

At 1 January 2025

62,873

Charge for year

7,733

At 31 December 2025

70,606

Net book value

At 31 December 2025

32,370

At 31 December 2024

25,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

228,227

332,274

Bad debt provision

(69,457

)

(193,750

)

Amounts owed by group undertakings

3,310,885

2,219,859

Prepayments and accrued income

27,171

154,141

3,496,826

2,512,524

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,753

5,198

Amounts owed to group undertakings

155,266

136,306

Corporation tax

260,268

119,202

VAT

153,818

104,970

Accruals and deferred income

355,048

326,105

930,153

691,781

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

117,569

Ordinary

0.00001

1

1

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russel Byrd FCA (Senior Statutory Auditor)

for and on behalf of Byrd + Link Audit Limited

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption available under The Small Companies section 33.1A of FRS 102 and Groups Regulations 2008, Schedule 1 paragraph 66(4) from disclosing details of any transactions entered into between two or more members of a group where they are wholly owned members of this group.

10.	ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is IBIS JV LP, a company incorporated in the US, registered office 485 Lexington Avenue, 20th Floor, New York, NY 10017.