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INTELLIGENT LEGAL SOLUTIONS (ILS) LIMITED

Registered Number
14475950
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2025

INTELLIGENT LEGAL SOLUTIONS (ILS) LIMITED
Company Information
for the year from 1 December 2024 to 30 November 2025

Directors | Stefano Benigni
| Jack Brendan McCarthy
| Fergus Plant

Registered Address | 124 City Road
| London
| EC1V 2NX

Registered Number | 14475950 (England and Wales)

INTELLIGENT LEGAL SOLUTIONS (ILS) LIMITED
Balance Sheet as at
30 November 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 7,687 |  |  |  | -
|  |  |  | 7,687 |  |  |  | -
Current assets |  |  |  |  |  |  |  |
Debtors | 4 | 293,231 |  |  |  | 2,265 |  |
Cash at bank and on hand |  | 347,577 |  |  |  | 111 |  |
|  | 640,808 |  |  |  | 2,376 |  |
Creditors amounts falling due within one year | 5 | (852,809) |  |  |  | (103,160) |  |
Net current assets (liabilities) |  |  |  | (212,001) |  |  |  | (100,784)
Total assets less current liabilities |  |  |  | (204,314) |  |  |  | (100,784)
Net assets |  |  |  | (204,314) |  |  |  | (100,784)
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 3,000 |  |  |  | 2,505
Share premium |  |  |  | 239,348 |  |  |  | 39,764
Other reserves |  |  |  | 423,815 |  |  |  | -
Profit and loss account |  |  |  | (870,477) |  |  |  | (143,053)
Shareholders' funds |  |  |  | (204,314) |  |  |  | (100,784)

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 12 August 2026, and are signed on its behalf by:
Stefano Benigni Director Registered Company No. 14475950

INTELLIGENT LEGAL SOLUTIONS (ILS) LIMITED
Notes to the Financial Statements
for the year ended 30 November 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Going concern
--- | ---
| The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The Directors consider the basis to be appropriate as the Company continues to experience growth in sales subsequent to the balance sheet date. In addition, the Directors have funds to support the company to trade for a minimum of 12 months from the date of signing these financial statements.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

| Defined contribution pension plan
--- | ---
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Current taxation
--- | ---
| Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

|  | Straight line (years)
| Office Equipment | 3

| Government grants or assistance
--- | ---
| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. The Research and Development Expenditure Credit (RDEC) is recognised as a government grant in accordance with FRS 102 Section 24. The gross RDEC credit is recognised within other income in the profit and loss account in the year to which the qualifying expenditure relates and the associated corporation tax is included within the tax charge for the year.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 1 |  | 0

3. | Tangible fixed assets
--- | ---

|  | Office Equipment |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| Additions | 8,139 |  | 8,139
| At 30 November 25 | 8,139 |  | 8,139
| Depreciation and impairment
| Charge for year | 452 |  | 452
| At 30 November 25 | 452 |  | 452
| Net book value
| At 30 November 25 | 7,687 |  | 7,687
| At 30 November 24 | - |  | -

4. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 180,000 |  | -
| Other debtors | 78,726 |  | 2,265
| Prepayments and accrued income | 34,505 |  | -
| Total | 293,231 |  | 2,265

| During the year, a Director received a loan of £48,961 (2024: £nil) from the Company. At the balance sheet date, the Director owed £34,840 (2024: £nil) to the Company and this amount is included within Other Debtors. This loan is unsecured, interest free and repayable on demand. The loan outstanding at the balance sheet date of £34,840 (2024: £nil) represents the highest amount outstanding during the year.

5. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 152,296 |  | -
| Taxation and social security | 17,349 |  | -
| Other creditors | 22,834 |  | 103,160
| Accrued liabilities and deferred income | 660,330 |  | -
| Total | 852,809 |  | 103,160

| At the balance sheet date, the Company owed amounts to two Directors totalling £21,383 (2024: three Directors £103,160). This amount is included within Other Creditors. The loans are unsecured, interest free and repayable on demand.

6. | Events after reporting date
--- | ---
| Subsequent to the balance sheet date, on 4 March 2026, the Company became a wholly owned subsidiary of a newly incorporated US parent company as part o a corporate reorganisation. As part of the reorganisation, existing shareholders transferred their shares in the Company to the US parent. In addition, the Company's Simple Agreements for Future Equity (SAFEs) outstanding at the balance sheet date converted into equity instruments of the US parent company.

7. | Related party transactions
--- | ---
| During the year, the Company entered into a financing arrangement with a shareholder. The Company received £52,885 (USD $70,000) in the form of a short-term bridging loan from the shareholder, repayable within 90 days and subject to interest at a rate of 2% per 30-day period.The principal amount and accrued interest were repaid in full during the year. In addition, the Company also received an interest-free advance of £3,777 (USD $5,000) from the shareholder which was received and repaid in full within the year. The total interest expense recognised in respect of the bridging loan during the year was £2,089 (USD $2,800).

8. | Further information regarding the company's financial position
--- | ---
| During the year the company received £423,815 (USD $570,000), relating to Simple Agreements for Future Equity ('SAFEs'), these have been included within Other reserves. Subsequent to the balance sheet date, on 4 March 2026, the Company became a wholly owned subsidiary of a newly incorporated US parent company as part of a corporate reorganisation.