Company No: 12942593 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Jan Christoph Gras
	Michael Alan Laven
	Carina Namih (Appointed 03 June 2026)
	E R Price
	Stephen Edward Price
	Josh Vernon

REGISTERED OFFICE	Metal Box Factory
	30 Great Guildford Street
	London
	SE1 0HS
	United Kingdom

COMPANY NUMBER

12942593 (England and Wales)

ACCOUNTANT	Gravita Essex Limited
	Kings House
	101-135 Kings Road
	Brentwood
	Essex
	CM14 4DR
	United Kingdom

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	4	2,680,708		1,775,787
Tangible assets	5	73,389		28,079
		2,754,097		1,803,866
Current assets
Debtors	6	418,094		618,324
Cash at bank and in hand		15,763,538		1,269,905
		16,181,632		1,888,229
Creditors: amounts falling due within one year	7	( 349,291)		( 326,818)
Net current assets		15,832,341		1,561,411
Total assets less current liabilities		18,586,438		3,365,277
Creditors: amounts falling due after more than one year	8	( 5,196,502)		0
Net assets		13,389,936		3,365,277
Capital and reserves
Called-up share capital		4		3
Share premium account		19,823,083		8,390,347
Other reserves		1,541,013		408,851
Profit and loss account		( 7,974,164 )		( 5,433,924 )
Total shareholders' funds		13,389,936		3,365,277

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Gigaton Technologies Ltd (registered number: 12942593) were approved and authorised for issue by the Board of Directors on 01 October 2026. They were signed on its behalf by:

E R Price Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents the total invoice value of software sales during the year, excluding VAT where applicable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 years straight line

Government grants

Grant income during the period has been accounted for using the performance model.

Where a grant imposes specified future performance-related conditions on the recipient , income is recognised only when the performance-related conditions are met.

Where a grant does not impose specified future performance-related conditions on the recipient, income is recognised when the grant proceeds are received or receivable.

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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		23

3. Share-based payments

Equity-settled share-based payment schemes

The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are Ordinary shares granted with a fixed exercise price determined at the grant of the option. The options vest over a period of up to 4 years following the date of the grant. The options are exercisable until up to the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company.

The company also operates an Unapproved Share Option Scheme. The options are Ordinary shares granted with a fixed exercise price determined at the grant of the option. The options vest over a period of up to 4 years following the date of the grant. The options are exercisable until up to the 10th anniversary from the date of grant. Option holders are not entitled to dividends until the shares are exercised.

Details of the share options outstanding during the financial year are as follows:

	2026			2025
	Weighted Average			Weighted Average
	Number of share options	Average exercise price (£)		Number of share options	Average exercise price (£)
Outstanding at beginning of period	728,073	1.57		0	0
Granted during the period	698,938	0.75		729,223	1.58
Forfeited during the period	( 10,583)	6.20		0	0
Exercised during the period	( 428)	4.67		( 1,150)	4.67
Outstanding at the end of the period	1,416,000	1.67		728,073	1.57
Exercisable at the end of the period	0	1.27		0	0.24

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

The Company recognised total expenses of £378,954 (2024 - £412,252) related to equity-settled share-based payment transactions in 2025.

4. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2025	2,570,852		2,570,852
Additions	1,766,165		1,766,165
At 31 March 2026	4,337,017		4,337,017
Accumulated amortisation
At 01 April 2025	795,065		795,065
Charge for the financial year	861,244		861,244
At 31 March 2026	1,656,309		1,656,309
Net book value
At 31 March 2026	2,680,708		2,680,708
At 31 March 2025	1,775,787		1,775,787

5. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2025	108,524		108,524
Additions	91,127		91,127
Disposals	( 6,120)		( 6,120)
At 31 March 2026	193,531		193,531
Accumulated depreciation
At 01 April 2025	80,445		80,445
Charge for the financial year	40,386		40,386
Disposals	( 689)		( 689)
At 31 March 2026	120,142		120,142
Net book value
At 31 March 2026	73,389		73,389
At 31 March 2025	28,079		28,079

6. Debtors

	2026		2025
	£		£
Trade debtors	225,254		208,637
Corporation tax	0		301,726
Other debtors	192,840		107,961
	418,094		618,324

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	109,556		23,290
Other taxation and social security	40,159		58,219
Other creditors	199,576		245,309
	349,291		326,818

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Convertible loan notes	3,696,502		0
Other creditors	1,500,000		0
	5,196,502		0

9. Convertible loans

The Company issued £4,380,444 of convertible loan notes on 22/1/26. The convertible loan notes are convertible into ordinary shares of the Company at any time between the date of issue of the notes and their settlement date. On issue, the loan notes were convertible at 1 shares per £1 loan note.

The net proceeds received from the issue of the convertible loan notes have been split between the liability element and an equity component, representing the fair value of the embedded option to convert the liability into equity of the Company, as follows:

	2026
	£
Nominal value of convertible loan notes issued	4,380,444
Equity component	(756,894)
Liability components at date of issue	3,623,550
Interest charged	72,952
Interest paid	0
Liability component at 31 March 2026	3,696,502

The liability component has been classified as basic and is consequently measured at amortised cost. The interest charged for the financial year is calculated by applying an effective interest rate of 10.95 per cent to the liability component.

10. Financial commitments

Other financial commitments

	2026		2025
	£		£
Due within 1 year	107,034		0
Due within 1-2 years	64,871		0
	171,905		0