TRACE World Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 15344137

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		2,111		2,375
Tangible Assets	5		1,815		3,630

			3,926		6,005
CURRENT ASSETS
Debtors	6	55,378		14,977
Cash at bank and in hand		23,119		52,572

		78,497		67,549
Creditors: Amounts Falling Due Within One Year	7	(978,368 )		(720,199 )

NET CURRENT ASSETS (LIABILITIES)			(899,871 )		(652,650 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(895,945 )		(646,645 )

NET LIABILITIES			(895,945 )		(646,645 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(896,045 )		(646,745 )

SHAREHOLDERS' FUNDS			(895,945)		(646,645)

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TRACE World Ltd

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Olivier Laouchez

Director

23 September 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

TRACE World Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15344137 . The registered office is C/O Sloane & Co, Office 015, 30 Great Guildford Street, Borough, London, SE1 0HS.

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.

The financial statements are prepared in Sterling (£), which is the functional currency of the company.

2.2. Going Concern Disclosure

The director has considered the Company’s financial position, cash flow forecasts and projected trading results for a period of at least twelve months from the date of approval of these financial statements.

Based on this review, the director is satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements.

In making this assessment, the director has considered the current and expected future trading performance, available financing facilities, and the level of committed support from its shareholders. The director noted that shareholder support is expected to continue; however, this support is not considered to give rise to any material uncertainties relating to going concern.

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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.

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TRACE World Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are licensing rights. They are amortised to the profit and loss account over their estimated economic life of 10 years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

3 years straight line

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 4)

4. Intangible Assets

	Goodwill	Intellectual Property	Total
	£	£	£
Cost
As at 1 January 2025	1	2,638	2,639

As at 31 December 2025	1	2,638	2,639

Amortisation
As at 1 January 2025	-	264	264
Provided during the period	-	264	264

As at 31 December 2025	-	528	528

Net Book Value
As at 31 December 2025	1	2,110	2,111

As at 1 January 2025	1	2,374	2,375

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2025	5,445

As at 31 December 2025	5,445

...CONTINUED

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TRACE World Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Depreciation
As at 1 January 2025	1,815
Provided during the period	1,815

As at 31 December 2025	3,630

Net Book Value
As at 31 December 2025	1,815

As at 1 January 2025	3,630

6. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	51,190	14,977
Other debtors	4,188	-

	55,378	14,977

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	10,997	2,456
Other creditors	964,973	631,441
Taxation and social security	2,398	86,302

	978,368	720,199

8. Share Capital

	31 December 2025	31 December 2024
	£	£
Allotted, Called up and fully paid	100	100

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TRACE World Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Ultimate Parent Undertaking and Controlling Party

The company is a wholly owned subsidiary undertaking of Trace Global a company incorporated in France under company number 411205628.

The ultimate parent undertaking is TPG Growth Topic Holding which owns 77.74% of the issued share capital. TPG Growth Topic Holding is a company incorporated under the laws of US and company number B216938.

The ultimate controlling party is Mr Olivier Laouchez.

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