The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

Obsidian Security International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE.

The company was incorporated on 9 May 2025. The reporting period has been shortened to align with the parent's accounting reference date, and therefore these financial statements cover the period between incorporation and 31 January 2026.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in US dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with the support of its parent, Obsidian Security Inc. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue represents income from the recharge of management services to the parent company, which is recognised in the period in which the services are provided, with the recharge being calculated at cost of relevant expenditure directly associated with the services provided, plus a mark up of 8%.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The company participates in a share-based payment arrangement operated by its parent undertaking, under which employees of the company may receive awards over shares in the parent. Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

The share-based payment arrangements are accounted for by the parent undertaking. No share-based payment expense has been recognised by the company in the current period as the amount attributable to the company is not material to these financial statements.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Transactions in currencies other than US dollars are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The company provides management services to its parent undertaking and charges for these services on a cost-plus basis. Management has exercised judgement in determining an appropriate arm’s-length mark-up and has applied a mark-up of 8% to the relevant costs incurred in providing these services.

The average monthly number of persons (including directors) employed by the company during the period was:

The company participates in a group share-based payment plan. The share-based payment expense attributable to the company is determined based on a reasonable allocation of the group expense, by reference to the number of participating employees in each group entity.

The fair value of the options granted is determined at grant date using the Black-Scholes Model. The Black-Scholes Model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options. Market and non-vesting conditions are reflected in fair value, while service and non-market performance conditions are reflected in the number of awards expected to vest at each reporting date and, where applicable, the vesting period.

As a qualifying entity, under Section 1.12 of FRS 102, Obsidian Security International Limited has taken an exemption from disclosing the full details of the share-based payment arrangements. The equivalent disclosures are included in the consolidated financial statements of Obsidian Security, Inc.

During the period, the share-based payment expense attributable to employees of the company was not material and, accordingly, no expense has been recognised in these financial statements.

The company has 100 ordinary shares of £1 each in issue. The share capital has been translated into the company's functional currency of US dollars at the exchange rate prevailing on the date of issue.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

The company leases premises which are occupied under monthly rolling licence agreements that are cancellable at short notice and therefore do not give rise to significant non-cancellable future operating commitments.

Obsidian Security International Limited has taken the exemption in accordance with FRS 102 section 33 for subsidiary undertakings not to disclose related party transactions with other entities where the relationship is as such that they are wholly owned. Therefore, transactions of this nature have not been disclosed.

The company's parent and ultimate controlling party is Obsidian Security, Inc., a company incorporated in the United States of America. Its registered office address is 577 College Ave, Palo Alto, CA 94306.

During the year, the parent company issued 15,000 restricted stock units (RSUs) to employees. The RSUs are subject to a time and service-based vesting requirement, under which each individual must remain continuously employed through the relevant vesting period. No RSUs vested during the period ended 31 January 2026. The RSUs expire ten years after the date of grant.

As at 31 January 2026, 15,000 units were outstanding with a weighted average grant date fair value of $2.05. For the purposes of determining the share-based payment expense attributable to the employee, management estimated that 3,750 RSUs were expected to vest, with the remaining 11,250 RSUs expected to be forfeited as a result of the service conditions. The associated share-based payment expense attributable to the company was not material and has not been recognised in these financial statements.