REVEAL AI LTD


Directors	DE ANGELIS, Tobia
	FERREIRA, Raul Manuel Ribeiro
	MASON, Ross
	ZORZI, Stefano


Registered Address	3rd Floor 86-90 Paul Street
	London
	EC2A 4NE


Registered Number	15923435 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025
		£	£
Fixed assets
Tangible assets	4		9,148
Investments	5		2,278
			11,426
Current assets
Debtors	6	140,318
Cash at bank and on hand		2,364,701
		2,505,019
Creditors amounts falling due within one year	7	(117,714)
Net current assets (liabilities)			2,387,305
Total assets less current liabilities			2,398,731
Net assets			2,398,731
Capital and reserves
Called up share capital			100
Other reserves			3,514,617
Profit and loss account			(1,115,986)
Shareholders' funds			2,398,731

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 21 August 2026, and are signed on its behalf by:

DE ANGELIS, Tobia
Director
Registered Company No. 15923435

REVEAL AI LTD

Notes to the Financial Statements
for the period ended 31 December 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 a going concern basis. The directors consider this basis appropriate as the Company has sufficient cash available to continue to trade for at least 12 months from the date these financial statements are authorised for issue.

	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.

	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

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.

	Government grants or assistance
	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

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
	Average number of employees during the year	1

3.	Further information regarding the company's income
	These financial statements have been prepared for the period from the date of incorporation on 29 August 2024 to 31 December 2025. This represents the Company’s first set of financial statements since incorporation.

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
Additions	11,897	11,897
At 31 December 25	11,897	11,897
Depreciation and impairment
Charge for year	2,749	2,749
At 31 December 25	2,749	2,749
Net book value
At 31 December 25	9,148	9,148
At 28 August 24	-	-

5.	Fixed asset investments
	On 1 May 2025, the Company invested in a subsidiary, Daedalus Aps, based in Denmark and owns 100% of the common stock. The Company has taken advance of the special rules for small groups to not prepare group accounts, as the group qualifies as small.

	Other investments¹	Total
	£	£
Cost or valuation
Additions	2,278	2,278
At 31 December 25	2,278	2,278
Net book value
At 31 December 25	2,278	2,278

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

		2025
		£
	Trade debtors / trade receivables	10,111
	Amounts owed by group undertakings	59,065
	Other debtors	61,726
	Prepayments and accrued income	9,416
	Total	140,318


	At the balance sheet date, the company was owed £59,065 from its subsidiary company, Daedalus Aps, based in Denmark. This amount is included within amounts owed by group undertakings. The loan is unsecured, interest free, and repayable on demand.

7.	Creditors: amounts due within one year

		2025
		£
	Trade creditors / trade payables	107,739
	Taxation and social security	9,389
	Other creditors	586
	Total	117,714

8.	Operating lease commitments
	At the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £23,500 being due within one year.

9.	Further information regarding the company's financial position
	Included in other reserves are Simple Agreements for Future Equity (‘SAFEs’) totalling £3,514,617 (USD: 4,427,500). The SAFEs are expected to convert to equity at a future date, upon the company’s next equity funding round.