REGISTERED NUMBER: SC608907 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

STAMP FREE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

H D Craigie Halkett

R W Beattie

REGISTERED OFFICE:

Suite 2, Ground Floor

Orchard Brae House

30 Queensferry Road

Edinburgh

EH4 2HS

REGISTERED NUMBER:

SC608907 (Scotland)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stamp Free Limited for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Stamp Free Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stamp Free Limited and state those matters that we have agreed to state to the Board of Directors of Stamp Free Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stamp Free Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Stamp Free Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Stamp Free Limited. You consider that Stamp Free Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stamp Free Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

24 September 2026

FIXED ASSETS

Intangible assets

4

886,955

643,504

Tangible assets

5

1,428

1,782

888,383

645,286

CURRENT ASSETS

Debtors

6

51,107

81,696

Cash at bank

588,348

317,439

639,455

399,135

CREDITORS

Amounts falling due within one year

7

76,228

60,920

NET CURRENT ASSETS

563,227

338,215

TOTAL ASSETS LESS CURRENT LIABILITIES

1,451,610

983,501

CREDITORS

Amounts falling due after more than one year

8

22,164

26,193

NET ASSETS

1,429,446

957,308

CAPITAL AND RESERVES

Called up share capital

9

24

21

Share premium

3,881,127

2,815,754

Other reserves

421,741

302,592

Retained earnings

(2,873,446

)

(2,161,059

)

SHAREHOLDERS' FUNDS

1,429,446

957,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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:

H D Craigie Halkett - Director

1.	STATUTORY INFORMATION

Stamp Free Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements cover a period of 12 months, whereas the comparative figures relate to a 15-month period. As a result, the figures presented in the income statement are not directly comparable.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development

expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Development costs will not be amortised until product development is complete and the product comes into

use

Tangible fixed assets

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:

Plant & Machinery- 25% on reducing balance

Computer Equipment- 3 years straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale

proceeds and the carrying value of the asset, and is credited or charged to profit or loss

Government grant

Government grants received are recognised under the accrual method. The grants have been recognised over the period in which the related costs that the grant is intended to compensate are recognised. As such, grant income includes £97,064 relating to Scottish Enterprise. This amount has been recognised in P&L in the reporting period.

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.

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.

Going concern disclosure

The company has incurred a loss in the year ended 31.12.2025 and the previous period but had net assets and a strong cash position at the year end, following two equity funding rounds during the year, which raised over £1,000,000. There was also a further equity funding round after the year end which raised in excess of £350,000 and another equity funding round is anticipated before the end of 2026.

Based on financial projections, the directors are of the opinion that the company has sufficient resources to continue in operational existence for the foreseeable future. The financial statements have, therefore, been prepared on a going concern basis.

Share based payments

Where share options are awarded to employees, the fair value of the options is charged to the income statement 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 market vesting condition- £ 421,741 (2024 - £302,592) has been included in the share based payment reserve this period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

643,504

Additions

243,451

At 31 December 2025

886,955

NET BOOK VALUE

At 31 December 2025

886,955

At 31 December 2024

643,504

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

5,680

Additions

1,041

At 31 December 2025

6,721

DEPRECIATION

At 1 January 2025

3,898

Charge for year

1,395

At 31 December 2025

5,293

NET BOOK VALUE

At 31 December 2025

1,428

At 31 December 2024

1,782

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other debtors

51,107

81,696

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

13,621

13,829

Trade creditors

49,867

37,372

Taxation and social security

11,017

8,421

Other creditors

1,723

1,298

76,228

60,920

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

22,164

26,193

The bank loans are secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

238,013

Ordinary share capital

0.0001

24

21

During the year, the following ordinary share allotments were made:

On 18th March 2025, 10,843 ordinary shares of £0.0001 each were allotted as fully paid at a premium of £42.48 per share.

On 27th May 2025, 1,000 ordinary shares of £0.0001 each were allotted as fully paid at a premium of £42.48 per share.

On 28th November 2025, 11,251 ordinary shares of £0.0001 each were allotted as fully paid at a premium of £56.23 per share.