REGISTERED NUMBER: 11666126 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

LANDY TECH LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

G H M Chouette

J M Costa

M W R Dobson

B D G Moute

G Nani

REGISTERED OFFICE:

52a Cromwell Road

London

SW7 5BE

REGISTERED NUMBER:

11666126 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Green LLB FCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

The directors present their strategic report of the company and the group for the year ended 30 November 2025.

REVIEW OF BUSINESS

The Directors are pleased to report a £519,891 growth in turnover for the year.

The Group continues to expend heavily on research and development costs and so reported a loss before tax of £5,295,358 (2024: £5,745,510).

In the prior year, the Group set up a new subsidiary in India in order to secure access to key development staff and to bring previously outsourced work in-house. The operation of the subsidiary increased significantly during the year.

The Group's key financial performance indicators are as follows:

30 November 2025

30 November 2024

£

£

Turnover

4,829,121

4,309,230

Operating result

(5,157,186)

(5,795,968)

FUNDING

The Group raised £84,804 (2024: £4,077,734) from the issue of new share capital to investors.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the nature of the company's strategy are subject to a number of risks. The Directors have set out below the principal risks facing the business.

The Directors are of the opinion that a thorough risk management process is adopted which involves a formal review of all risks identified below. Where possible, processes are in place to mitigate such risks.

Capital and Liquidity risk

The Group relies on the availability of liquidity from investors and third party debt in order to finance the development and expansion of its technology. The Group utilises a cashflow forecast to plan for future investment needs and more generally to manage this risk.

IT risk

The business is fully digital and as such is reliant on its IT systems. The risk of IT failure is mitigated by using up to date cloud infrastructure and significant investment in security technology.

ON BEHALF OF THE BOARD:

B D G Moute - Director

27 August 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the Group in the year under review was that of the provision of financial technology offering investment reporting solutions to asset managers, family offices and fiduciaries.

GOING CONCERN

Due to the significant investment in research and development costs in the past years the Group has incurred losses and has a deficit in retained earnings of £19,719,137 (2024: £15,307,299). However, due to funds introduced by investors the Group has cash at bank of £2,873,834 and a surplus of shareholders funds of £62,187 at 30 November 2025.

The Directors have prepared cash flow forecasts which indicate that the Group will have sufficient funds to meet its obligations for at least the next 18 months of signing these accounts. The forecasts include assumptions regarding continued revenue growth and the availability of additional funding where required.

On this basis the accounts have been prepared on a going concern basis.

DIVIDENDS

There were no dividends paid or declared in the year (2024: £nil).

FUTURE DEVELOPMENTS

The Directors are confident that continued focus on the key management policies will strengthen the financial position of the Group during the ensuing year and continue to drive user and revenue growth.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2024 to the date of this report.

G H M Chouette

J M Costa

M W R Dobson

B D G Moute

G Nani

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, THP Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

B D G Moute - Director

27 August 2026

Opinion

We have audited the financial statements of Landy Tech Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 November 2025 and of the group's loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages three and four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the Group through discussions with Directors and other management, and from our commercial knowledge and experience of the sector in which the Group operates;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, including the Companies Act 2006, taxation legislation, GDPR and data protection, anti-money laundering and anti-bribery, contract and employment law.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the Group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and any other relevant regulators as required.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.

Andrew Green LLB FCA (Senior Statutory Auditor)

for and on behalf of THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

27 August 2026

TURNOVER

4,829,121

4,309,230

Cost of sales

1,668,815

1,742,204

GROSS PROFIT

3,160,306

2,567,026

Administrative expenses

8,424,871

8,362,994

(5,264,565

)

(5,795,968

)

Other operating income

107,379

-

OPERATING LOSS

5

(5,157,186

)

(5,795,968

)

Legal and consultancy fees

6

103,000

-

(5,260,186

)

(5,795,968

)

Interest receivable and similar income

126,025

205,807

(5,134,161

)

(5,590,161

)

Interest payable and similar expenses

7

161,197

155,349

LOSS BEFORE TAXATION

(5,295,358

)

(5,745,510

)

Tax on loss

8

(883,520

)

-

LOSS FOR THE FINANCIAL YEAR

(4,411,838

)

(5,745,510

)

Loss attributable to:

Owners of the parent

(4,411,838

)

(5,745,510

)

LOSS FOR THE YEAR

(4,411,838

)

(5,745,510

)

OTHER COMPREHENSIVE INCOME

Release of other reserve

Share option reserve

105,309

96,779

FX consolidation reserve

(1,619

)

(3,494

)

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

103,690

93,285

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(4,308,148

)

(5,652,225

)

Total comprehensive income attributable to:

Owners of the parent

(4,308,148

)

(5,652,225

)

FIXED ASSETS

Tangible assets

10

191,938

302,525

Investments

11

-

-

191,938

302,525

CURRENT ASSETS

Debtors

12

1,097,025

897,241

Cash at bank

2,873,834

6,623,464

3,970,859

7,520,705

CREDITORS

Amounts falling due within one year

13

2,990,786

1,939,582

NET CURRENT ASSETS

980,073

5,581,123

TOTAL ASSETS LESS CURRENT LIABILITIES

1,172,011

5,883,648

CREDITORS

Amounts falling due after more than one year

14

(1,058,824

)

(1,551,116

)

PROVISIONS FOR LIABILITIES

18

(51,000

)

(47,000

)

NET ASSETS

62,187

4,285,532

CAPITAL AND RESERVES

Called up share capital

19

250

242

Share premium

20

19,405,098

19,320,303

Other reserves

20

(5,113

)

(3,494

)

Share option reserve

20

381,089

275,780

Retained earnings

20

(19,719,137

)

(15,307,299

)

SHAREHOLDERS' FUNDS

62,187

4,285,532

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

B D G Moute - Director

FIXED ASSETS

Tangible assets

10

167,814

285,440

Investments

11

966

966

168,780

286,406

CURRENT ASSETS

Debtors

12

1,057,844

984,268

Cash at bank

2,832,991

6,553,164

3,890,835

7,537,432

CREDITORS

Amounts falling due within one year

13

2,998,858

1,974,827

NET CURRENT ASSETS

891,977

5,562,605

TOTAL ASSETS LESS CURRENT LIABILITIES

1,060,757

5,849,011

CREDITORS

Amounts falling due after more than one year

14

(1,058,824

)

(1,551,116

)

PROVISIONS FOR LIABILITIES

18

(51,000

)

(47,000

)

NET (LIABILITIES)/ASSETS

(49,067

)

4,250,895

CAPITAL AND RESERVES

Called up share capital

19

250

242

Share premium

20

19,405,098

19,320,303

Share option reserve

20

381,089

275,780

Retained earnings

20

(19,835,504

)

(15,345,430

)

SHAREHOLDERS' FUNDS

(49,067

)

4,250,895

Company's loss for the financial year

(4,490,074

)

(5,783,641

)

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

B D G Moute - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 December 2023

228

(9,561,789

)

15,242,583

Changes in equity

Issue of share capital

14

-

4,077,720

Total comprehensive income

-

(5,745,510

)

-

Balance at 30 November 2024

242

(15,307,299

)

19,320,303

Changes in equity

Issue of share capital

8

-

84,795

Total comprehensive income

-

(4,411,838

)

-

Balance at 30 November 2025

250

(19,719,137

)

19,405,098

Share

Other

option

Total

reserves

reserve

equity

£

£

£

Balance at 1 December 2023

-

179,001

5,860,023

Changes in equity

Issue of share capital

-

-

4,077,734

Total comprehensive income

(3,494

)

96,779

(5,652,225

)

Balance at 30 November 2024

(3,494

)

275,780

4,285,532

Changes in equity

Issue of share capital

-

-

84,803

Total comprehensive income

(1,619

)

105,309

(4,308,148

)

Balance at 30 November 2025

(5,113

)

381,089

62,187

Called up

Share

share

Retained

Share

option

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 December 2023

228

(9,561,789

)

15,242,583

179,001

5,860,023

Changes in equity

Issue of share capital

14

-

4,077,720

-

4,077,734

Total comprehensive income

-

(5,783,641

)

-

96,779

(5,686,862

)

Balance at 30 November 2024

242

(15,345,430

)

19,320,303

275,780

4,250,895

Changes in equity

Issue of share capital

8

-

84,795

-

84,803

Total comprehensive income

-

(4,490,074

)

-

105,309

(4,384,765

)

Balance at 30 November 2025

250

(19,835,504

)

19,405,098

381,089

(49,067

)

Cash flows from operating activities

Cash generated from operations

24

(4,151,405

)

(5,379,595

)

Interest paid

(158,881

)

(148,510

)

Interest element of hire purchase payments paid

(2,316

)

(6,839

)

Taxation refund

892,727

-

Net cash from operating activities

(3,419,875

)

(5,534,944

)

Cash flows from investing activities

Purchase of tangible fixed assets

(30,851

)

(35,225

)

Sale of tangible fixed assets

20,560

-

Interest received

126,025

205,807

Net cash from investing activities

115,734

170,582

Cash flows from financing activities

New loans in year

-

2,000,000

Loan repayments in year

(470,588

)

-

Capital repayments in year

(59,705

)

(15,239

)

Share issue

84,804

4,077,734

Net cash from financing activities

(445,489

)

6,062,495

(Decrease)/increase in cash and cash equivalents

(3,749,630

)

698,133

Cash and cash equivalents at beginning of year

25

6,623,464

5,925,331

Cash and cash equivalents at end of year

25

2,873,834

6,623,464

1.	STATUTORY INFORMATION

Landy Tech 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 General Information page.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern

The financial statements have been prepared under the historical cost convention.

Due to the significant investment in research and development costs in the past years the Group has incurred losses and has a deficit in retained earnings of £19,719,137 (2024: £15,307,299). However, due to funds introduced by investors the Group has cash at bank of £2,873,834 and a surplus of shareholders funds of £62,187 at 30 November 2025.

The Directors have prepared cash flow forecasts which indicate that the Group will have sufficient funds to meet its obligations for at least the next 18 months of signing these accounts. The forecasts include assumptions regarding continued revenue growth and the availability of additional funding where required.

On this basis the accounts have been prepared on a going concern basis.

Basis of consolidation

The consolidated financial statements represent the results of the company and its subsidiaries, all of whom are effectively wholly owned, made up to 30 November 2025. All accounting policies as detailed below are applied consistently across the Group.

All intra-group transactions and balances are eliminated on consolidation.

The parent company has taken the exemption from preparing its own cashflow statement.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

a) Critical judgements in applying the entity's accounting policies

There are no specific judgements, apart from those involving estimates as detailed below, that management

has made in the process of applying the entity's accounting policies that have a significant effect on the

amounts recognised in the financial statements.

b) Critical accounting estimates and assumptions

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates can

differ from the related actual results. The estimates and assumptions that have a significant risk of causing a

material adjustment to the carrying amounts of the assets and liabilities within the next financial year are

addressed below.

(i) Valuation of share options

The Group uses a range of estimates in order to calculate the fair value of equity settled options.

Revenue recognition

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

The Company derives revenue from Core platform subscriptions. Revenues from subscriptions are recognised when control of the promised services are transferred to a customer in an amount that reflects the consideration that the Company expects to receive in exchange for those services.

Revenue from subscriptions invoiced annually or quarterly in advance is recognised on a straight-line basis over the service period.

Amounts invoiced but not yet recognised are recorded as deferred income and released to revenue monthly over the term of the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Over the period of the lease

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost