Planetwatchers (UK) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Planetwatchers (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12073910 . The registered office is Third Floor,, 1 New Fetter Lane,, London,, EC4A 1AN.

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. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.3. Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer.Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer Equipment

33% Straight line

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Planetwatchers (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.6. 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.

2.7. Taxation

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

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further exdludes 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 reporting end date.

2.8. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is trcated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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Planetwatchers (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Cash and cash equivalents

Cash and cash equivalents arc basic financial assots and includo cash in hand, deposits hold at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.10. Employee benefits policy - defined contribution

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11 Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the Profit and Loss Account over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Balance Sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a marketing vesting condition. The fair value of the award also takes into account non-vesting conditions. There are either factors beyond the control of either party (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).Where the terms and conditions of options are modified before they vest, the increase in the fair value of options, measured immediately before and after the modification, is also charged to the Profit and Loss Account over the remaining vesting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2025	5,300

As at 31 December 2025	5,300

Depreciation
As at 1 January 2025	3,912
Provided during the period	1,142

As at 31 December 2025	5,054

Net Book Value
As at 31 December 2025	246

As at 1 January 2025	1,388

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Planetwatchers (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	3,306,235
Disposals	(2,824 )

As at 31 December 2025	3,303,411

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	3,303,411

As at 1 January 2025	3,306,235

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to parlicipate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are

classified as jointly controlled entities.

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	9,237,316	8,289,124

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	10,218	371
Other creditors	5,973	16,218
Taxation and social security	13,691	14,956

	29,882	31,545

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	712,910	-

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Planetwatchers (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10,974	10,974

10. Related Party Transactions

As at the year end £6,859,522 (2024: £5,910,406) was owed by Planet Watchers Ltd, a wholly owned subsidiary of Planetwatchers (UK) Limited.

As at the year end £2,370,466 (2024: £2,370,444) was owed by Planet Watchers Inc, a wholly owned subsidiary of Planetwatchers (UK) Limited.

11. Share-based payment transactions

	Number of share options		Weighted average exercise
	2025	2024	2025	2024
	Number	Number	£	£

Outstanding at 1 January 2025	132,033	132,033	5.35	5.44
Forfeited
Outstanding at 31 December 2025	132,033	132,033	5.35	5.44

Exercisable at 31 December 2025	132,033	130,064	5.35	5.44

The company operates an equity-settled share option scheme for certain employees, with options granted in prior years under an approved Enterprise Management Incentive (EMI) arrangement. No new share options were granted, forfeited, or exercised during the year ended 31 December 2025.

The share options outstanding at the year-end were originally granted in 2021 and are subject to vesting conditions based on continued service. At 31 December 2025, 132,033 options remained outstanding, with a weighted average exercise price of £5.35. Of these, 132,033 options were exercisable, with a weighted average exercise price of £5.35.

The share options have exercise prices ranging from £3.74 to £11.64 and a remaining contractual life of between 6-7 years. The fair value of the share options was determined at the grant date using the Black-Scholes option pricing model. Key inputs to the model included the share price at grant, expected volatility, expected term, and risk-free interest rate.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		246		1,388
Investments	5		3,303,411		3,306,235

			3,303,657		3,307,623
CURRENT ASSETS
Debtors	6	9,237,316		8,289,124
Cash at bank and in hand		311,612		537,682

		9,548,928		8,826,806
Creditors: Amounts Falling Due Within One Year	7	(29,882 )		(31,545 )

NET CURRENT ASSETS (LIABILITIES)			9,519,046		8,795,261

TOTAL ASSETS LESS CURRENT LIABILITIES			12,822,703		12,102,884

Creditors: Amounts Falling Due After More Than One Year	8		(712,910 )		-

NET ASSETS			12,109,793		12,102,884

CAPITAL AND RESERVES
Called up share capital	9		10,974		10,974
Share premium account			11,928,707		11,928,707
Other reserves			765,022		834,190
Profit and Loss Account			(594,910 )		(670,987 )

SHAREHOLDERS' FUNDS			12,109,793		12,102,884