REGISTERED NUMBER: 11907206 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Block Scholes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Gashier

M R P Stewart

D R A Johnson

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

11907206 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

1st Floor

One Suffolk Way

Sevenoaks

Kent

TN13 1YL

FIXED ASSETS

Intangible assets

4

19,402

36,198

Tangible assets

5

3,263

3,201

22,665

39,399

CURRENT ASSETS

Debtors

6

463,252

554,762

Investments

7

2,262

78,675

Cash at bank

103,071

1,313,166

568,585

1,946,603

CREDITORS

Amounts falling due within one year

8

442,191

633,394

NET CURRENT ASSETS

126,394

1,313,209

TOTAL ASSETS LESS CURRENT LIABILITIES

149,059

1,352,608

CREDITORS

Amounts falling due after more than one year

9

2,734

4,746

NET ASSETS

146,325

1,347,862

CAPITAL AND RESERVES

Called up share capital

10

16

15

Share premium

11

4,615,866

4,515,865

Advanced subscriptions

11

1,749,378

1,575,885

Share option reserve

11

264,560

-

Retained earnings

11

(6,483,495

)

(4,743,903

)

SHAREHOLDERS' FUNDS

146,325

1,347,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by:

E Gashier - Director

1.	STATUTORY INFORMATION

Block Scholes Ltd 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 Company Information page.

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

We believe the company's financial statements should be prepared on a going concern basis on the grounds that the current and future sources of funding or support will be more than adequate for the company's needs. We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future.

Changes in accounting policies

These accounts reflect the first year that the company has adopted FRS 102. The prior year financial statements were restated for adoption of FRS 102 in the current year. There were no material adjustments arising.

Turnover

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

Intangible assets

Cryptocurrency holdings are classified as intangible assets. Cryptocurrency is initially recognised at cost and subsequently measured at fair value.

The carrying value of cryptocurrency assets is reviewed and adjusted periodically by reference to quoted market prices from active exchanges. Any increase or decrease in value arising from changes in market prices is recognised in the profit and loss account in the period in which it arises.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Straight line over 3 years

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2025 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Crypto

£

COST OR VALUATION

At 1 April 2025

36,198

Additions

28,313

Disposals

(36,762

)

Revaluations

(8,347

)

At 31 March 2026

19,402

NET BOOK VALUE

At 31 March 2026

19,402

At 31 March 2025

36,198

Cost or valuation at 31 March 2026 is represented by:

Crypto

£

Valuation in 2025

36,198

Valuation in 2026

(16,796

)

19,402

If the cryptocurrency had not been revalued they would have been included at the following historical cost:

2026

2025

as restated

£

£

Cost

36,900

46,213

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

8,443

Additions

1,450

At 31 March 2026

9,893

DEPRECIATION

At 1 April 2025

5,242

Charge for year

1,388

At 31 March 2026

6,630

NET BOOK VALUE

At 31 March 2026

3,263

At 31 March 2025

3,201

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Trade debtors

63,328

72,815

Other debtors

11,900

61,142

Directors' current accounts

124,687

-

Tax

224,552

355,352

VAT

17,650

31,804

Prepayments and accrued income

21,135

33,649

463,252

554,762

7.	CURRENT ASSET INVESTMENTS

2026

2025

as restated

£

£

Brokerage account

2,262

78,675

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Trade creditors

56,654

56,122

Wages payable

3,639

1,156

Social security and other taxes

89,878

333,397

Other creditors

152,527

4,942

Bank Loans

1,821

1,900

Directors' current accounts

-

54,540

Accrued expenses

137,672

181,337

442,191

633,394

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

as restated

£

£

Bank loans

2,734

4,746

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

2,734

4,746

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

as restated

£

£

15,413,875

Ordinary

£0.000001

16

15

153,167

Deferred

£0.000001

-

-

16

15

The following fully paid shares were allotted during the year at a premium as shown below:

78,292 Ordinary shares of £0.000001 each at £1.2772687 per share

90,105 Deferred shares of £0.000001 each at £0.000009 per share

11.

RESERVES

Share

Retained

Share

Advanced

option

earnings

premium

subscriptions

reserve

Totals

£

£

£

£

£

At 1 April 2025

(4,675,663

)

4,515,865

1,575,885

-

1,416,087

Prior year adjustment

(68,240

)

(68,240

)

(4,743,903

)

1,347,847

Deficit for the year

(1,739,592

)

(1,739,592

)

Cash share issue

-

100,001

173,493

-

273,494

Options vesting

-

-

-

264,560

264,560

At 31 March 2026

(6,483,495

)

4,615,866

1,749,378

264,560

146,309

12.	ULTIMATE CONTROLLING PARTY

The controlling party is E Gashier.

The ultimate controlling party is E Gashier.

13.	SHARE-BASED PAYMENT TRANSACTIONS

The company has an equity settled option scheme.

The company had 140,105 (2025: 30,000) options outstanding at the beginning of the period.

During the period 1,494,907 (2025: 110,105) options were granted to employees.

During the period 63,205 (2025: nil) options were forfeited.

During the period 90,105 (2025: nil) options were exercised.

During the period nil (2025: nil) options expired

The company had 1,481,702 (2025: 140,105) options outstanding at the end of the period.

The company has 1,035,656 (2025: 16,944) exercisable options at the end of the period.

The fair value of the share options has been valued at £1.277258 based on the valuation of the Company's most recent fundraising round. An appropriate discount has been applied to reflect the differing rights attaching to the respective share classes.

The total change in valuation of the vested options was £264,560 (2025: nil) this was charged to the profit and loss. The total carrying amount is £264,560.