INTELLIGENT LEGAL SOLUTIONS (ILS) LIMITED


Directors	Stefano Benigni
	Jack Brendan McCarthy
	Fergus Plant


Registered Address	124 City Road
	London
	EC1V 2NX


Registered Number	14475950 (England and Wales)

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.

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.

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.

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.

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.

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).

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.