This report was approved by the board of directors on 30 September 2026
and signed on behalf of the board by:

Name: Christopher Akin
Status: Director

16. Prior period adjustments and transition to FRS 102 These are the first financial statements the company has prepared in accordance with FRS 102, including Section 1A. The financial statements for the period ended 31 December 2024 were prepared in accordance with FRS 105 "The Financial Reporting Standard applicable to the Micro-entities Regime". The date of transition to FRS 102 is 16 November 2023, the date of incorporation, when the company had no assets, liabilities or equity. The change of framework required no measurement adjustments, and the comparative figures have been re-presented in the formats required by FRS 102 Section 1A. After the financial statements for the period ended 31 December 2024 were approved, the directors identified errors in them. As required by Section 10 of FRS 102, the errors have been corrected retrospectively by restating the comparative figures. All of the adjustments below correct errors; none arises from the change of accounting framework. The corrections are: (a) Funding from the parent undertaking: funding of £34,904 from Apollo Research PBC was presented as a loan falling due after more than one year. It carries no obligation to repay, so it has been reclassified to the capital contribution reserve (note 11). (b) Costs incurred on behalf of the parent undertaking: costs of £5,759 incurred on behalf of Apollo Research PBC were charged to administrative expenses, and the reimbursement from the parent was presented as further loan funding. The costs have been recharged to the parent. (c) Grant income: accrued income of £19,302 was recognised for a grant relating to costs incurred by Rethink Priorities. The company received the grant funds on behalf of Rethink Priorities (note 9), so they were not the company's income. The accrued income has been derecognised. (d) Accruals: accruals of £2,051 for costs relating to the period were omitted. (e) Prepayment: a prepayment of £1,144 for insurance cover after 31 December 2024 was omitted. (f) Other: other corrections to cash, debtors and VAT recoverable increased current assets by £241.