REGISTERED NUMBER: 07710280 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

TEAMWORKS INNOVATIONS UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Coffos

W Robinson

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

07710280 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

3,316

8,583

CURRENT ASSETS

Debtors

5

4,143,932

3,031,101

Cash at bank

1,100,504

451,142

5,244,436

3,482,243

CREDITORS

Amounts falling due within one year

6

4,535,210

2,869,213

NET CURRENT ASSETS

709,226

613,030

TOTAL ASSETS LESS CURRENT LIABILITIES

712,542

621,613

CAPITAL AND RESERVES

Called up share capital

7

50,000

50,000

Other reserves

8

160,991

104,742

Retained earnings

8

501,551

466,871

SHAREHOLDERS' FUNDS

712,542

621,613

712,542

621,613

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 18 August 2026 and were signed on its behalf by:

J Coffos - Director

1.	STATUTORY INFORMATION

Teamworks Innovations UK 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company has obtained a letter of support from its ultimate parent company, Teamworks Innovations, Inc. The directors of Teamworks Innovations, Inc., have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for a period in excess of 12 months and 1 day from the date of the Teamworks Innovations UK Limited audit report. As a result of this commitment, the directors have continued to adopt the going concern basis in preparing these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes.

The company has two streams of turnover:

1. Intragroup sales

Intergroup sales comprise amounts charged to the company's parent company in accordance with their transfer pricing study, turnover is recognised when chargeable costs are incurred.

2. External - subscription sales

External sales are recognised on a straight line basis over the life of the contract, which represents the period the client has access to the software. The relevant expenses are also deferred over the same period.

Tangible fixed assets

Tangible assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - Straight line over 3 and 4 years

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share-based payments

Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services.

The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing model that takes into account the exercise price, the term of the options, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Company receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

The share based payment expense is recognised on the basis of a reasonable allocation of the group expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

22,928

Disposals

(12,606

)

At 31 December 2025

10,322

DEPRECIATION

At 1 January 2025

14,345

Charge for year

4,934

Eliminated on disposal

(12,273

)

At 31 December 2025

7,006

NET BOOK VALUE

At 31 December 2025

3,316

At 31 December 2024

8,583

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

707,509

215,933

Amounts owed by group undertakings

3,423,011

2,712,104

Other debtors

13,412

103,064

4,143,932

3,031,101

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

-

105,600

Amounts owed to group undertakings

3,156,324

2,159,465

Taxation and social security

121,277

20,224

Other creditors & accruals

1,257,609

583,924

4,535,210

2,869,213

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

50,000

Ordinary

£1

50,000

50,000

8.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 January 2025

466,871

104,742

571,613

Profit for the year

34,680

34,680

Share option charge

-

56,249

56,249

At 31 December 2025

501,551

160,991

662,542

The other reserves relates to recognition of share based payment expenses issued in respect of the ultimate parent company, outlined in further detail in note 11.

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

The Report of the Auditors was unqualified.

Hayden Sym (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

10.	PARENT COMPANY

The immediate parent company is Identify International Pty Ltd, a company incorporated at Level 1, Jubilee Place, 470 St Pauls Tce, Fortitude Valley, QLD 4006, Australia.

The ultimate parent company, Teamworks Innovations, Inc. a company incorporated at 122 E Parrish St, Durham, NC 27701, is the largest and only group company to prepare consolidated financial statements. These are not publicly available.

11.	SHARE-BASED PAYMENT TRANSACTIONS

The Company has issued equity settled share incentives with its employees.

The share options are granted over shares in the ultimate parent company, Teamworks Innovations, Inc. (incorporated in the United States). The options vest as follows: 25% of the total number of shares subject to the option vest on the first anniversary of the vesting commencement date, with the remaining 75% vesting in equal monthly instalments of 1/48th thereafter, such that all options are fully vested on the fourth anniversary of the vesting commencement date. Vesting is conditional on the participant remaining employed at each vesting date. Vesting ceases immediately upon cessation of employment.

The following table summarises the number and weighted average exercise prices of the options during the year:

Item

Number

Weighted average exercise price (USD$

)

Outstanding at the beginning of the period

1,170,796

0.5175

Granted during the year

214,096

0.7239

Forfeited/cancelled during the period

(7,926

)

0.7900

Exercised during the period

-

-

Expired during the period

-

-

Outstanding at the end of the period

1,376,966

0.5480

Exercisable at the end of the period

953,297

0.5096

The fair value of the options has been determined using the Black-Scholes option pricing model, as described in the accounting policies in Note 2. The share-based payment expense is recognised on the basis of a reasonable allocation of the total expense for the group. A share-based payment expense of £56,249 (2024: £47,094) was recognised in the year. The total cumulative liability for share-based payment expenses is £160,991 (2024: £104,742)

12.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the Company was in the process of finalising an agreement to acquire the business and related assets of Kairos Sports Tech Ltd, a fellow group undertaking. The acquisition is intended to include the transfer of the business goodwill, intellectual property, customer contracts, employees and other operating assets and liabilities associated with the Kairos Sports business. Completion of the transaction is expected following the date of approval of these financial statements.

The directors consider the transaction to be a significant non-adjusting event occurring after the reporting date. The financial effect of the transaction cannot be reliably quantified until completion of the transaction.