Sepio Systems UK Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Sepio Systems UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14652761 . The registered office is 843 Finchley Road, London, England, NW11 8NA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company incurred a loss for the year and had net liabilities of £3,356 at 31 December 2025. The company is dependent on the continued financial and operational support of Cyber Sepio Systems Ltd in order to meet its liabilities as they fall due.

Cyber Sepio Systems Ltd has confirmed its intention to provide the financial and operational support required by the company for a period of at least twelve months from the date on which these financial statements are approved.

On the basis of this support, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis.

2.3. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from

those of the company in an independently administered fund and are charged as they fall due.

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Sepio Systems UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Share-based payments

The company issues equity-settled and cash-settled share-based payments to certain employees (including

directors). Equity-settled share-based payments are measured at fair value at the date of grant. The fair value

determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over

the vesting period, together with a corresponding increase in equity, based upon the company's estimate of the

shares that will eventually vest. Fair value is measured using the Black-Scholes Pricing Model. The expected life

used in the model has been adjusted, based on management's best estimate, for the effects of non-transferability,

exercise restrictions and behavioural considerations. Where the terms of an equity-settled transaction are modified,

as a minimum an expense is recognised as if the terms had not been modified. In addition, an expense is

recognised for any increase in the value of the transaction as a result of the modification, as measured at the date

of modification. Where an equity-settled transaction is cancelled, it is treated as if it had vested on the date of the

cancellation, and any expense not yet recognised for the transaction is recognised immediately. However, if a new

transaction is substituted for the cancelled transaction, and designated as a replacement transaction on the date

that it is granted, the cancelled and new transactions are treated as if they were a modification of the original

transaction, as described in the previous paragraph. For cash-settled share-based payments, a liability equal to the

portion of the goods and services received is recognised at the current fair value determined at each balance sheet

date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1	100
Corporation tax recoverable assets	1,177	-
Amounts owed by group undertakings	169,728	44,250

	170,906	44,350

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	13,048	-
Corporation tax	-	1,177
Other creditors	-	1,331
Accruals and deferred income	156,599	33,806
Amounts owed to group undertakings	4,615	1,993

	174,262	38,307

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

7. Related Party Transactions

At 31 December 2025, an amount of £4,615 was due to Cyber Sepio Systems Inc. and an amount of £169,728 was due from Cyber Sepio Systems Ltd.

These balances arose from the reallocation of group income and expenses under the group’s transfer-pricing arrangements.

8. Share-based payments

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Sepio Systems UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Equity-settled share-based payments:

Details of the number of share options and the weighted average exercise price outstanding during the financial year are as follows:

	Number	2025	Number	2024
		WAEP £		WAEP £
Outstanding at the beginning of the financial year	45,000	0.49	45,000	0.49
Outstanding at the end of the financial year	-	-	45,000	0.49
Exercisable at the end of the financial year	-	-	24,958	0.49

9. Audit Information

The auditor's report on the accounts of Sepio Systems UK Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Benjamin Allen (Senior Statutory Auditor) for and on behalf of Glazers Chartered Accountants , Statutory Auditor.

Glazers Chartered Accountants

843 Finchley Rd

London

NW11 8NA

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		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	170,906		44,350

		170,906		44,350
Creditors: Amounts Falling Due Within One Year	5	(174,262 )		(38,307 )

NET CURRENT ASSETS (LIABILITIES)			(3,356 )		6,043

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,356 )		6,043

NET (LIABILITIES)/ASSETS			(3,356 )		6,043

CAPITAL AND RESERVES
Called up share capital	6		1		1
Other reserves			8,278		5,843
Profit and Loss Account			(11,635 )		199

SHAREHOLDERS' FUNDS			(3,356)		6,043