Contents of the Financial Statements

for the Period Ended 31 December 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2025

The directors present their report with the financial statements of the company for the period ended 31 December 2025

Directors

The directors shown below have held office during the whole of the period from
1 August 2024 to 31 December 2025

Murvah Iqbal
Mathias Krieger
Nick De La Forge

The director shown below has held office during the period of
1 August 2024 to 8 May 2025

Hampus Jakobsson

The director shown below has held office during the period of
8 May 2025 to 31 December 2025

Tomosaku Sohara

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 August 2026

And signed on behalf of the board by:
Name: Murvah Iqbal
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2025

	17 months to 31 December 2025	2024
	£	£
Turnover:	13,210,034	5,190,760
Cost of sales:	( 12,531,275 )	( 6,115,184 )
Gross profit(or loss):	678,759	(924,424)
Distribution costs:	( 5,563,485 )	( 1,876,362 )
Administrative expenses:	( 17,172,105 )	( 6,808,602 )
Other operating income:	0	0
Operating profit(or loss):	(22,056,831)	(9,609,388)
Interest receivable and similar income:	20,405	3,318
Interest payable and similar charges:	( 67,254 )	( 70,004 )
Profit(or loss) before tax:	(22,103,680)	(9,676,074)
Tax:	406,189	766,922
Profit(or loss) for the financial year:	(21,697,491)	(8,909,152)

Balance sheet

As at 31 December 2025

	Notes	17 months to 31 December 2025	2024
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:	3	8,032	7,372
Tangible assets:	4	1,787,313	1,637,471
Investments:		0	0
Total fixed assets:		1,795,345	1,644,843
Current assets
Stocks:		0	0
Debtors:	5	3,400,087	2,063,433
Cash at bank and in hand:		4,081,916	2,021,035
Investments:		0	0
Total current assets:		7,482,003	4,084,468
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	6	( 3,706,120 )	( 2,469,267 )
Net current assets (liabilities):		3,775,883	1,615,201
Total assets less current liabilities:		5,571,228	3,260,044
Creditors: amounts falling due after more than one year:	7	( 320,124 )	( 281,378 )
Provision for liabilities:		0	0
Accruals and deferred income:		0	0
Total net assets (liabilities):		5,251,104	2,978,666
Capital and reserves
Called up share capital:		136	136
Share premium account:		45,431,274	21,461,345
Other reserves:		0	0
Profit and loss account:		(40,180,306 )	(18,482,815 )
Total Shareholders' funds:		5,251,104	2,978,666

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2025 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

  Tangible fixed assets depreciation policy

  Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

  Intangible fixed assets amortisation policy

  Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

  Other accounting policies

  Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Interest income is recognised in profit or loss using the effective interest method. Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 2. Employees

  	17 months to 31 December 2025	2024
  Average number of employees during the period	286	262