For the financial year ended 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Art-I-Check Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Piries Place, Horsham, West Sussex, RH12 1EH.

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 sterling, which is the functional currency of the company.

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

In assessing whether the Company is a going concern, the directors have considered the Company’s financial position together with forecast cash flows and working capital requirements for a period of at least 12 months from the date of approval of these financial statements.true

The Company incurred a loss during the year and had limited cash resources at the balance sheet date. The directors have therefore placed reliance on detailed cash flow forecasts prepared to the end of the current financial year, together with assumptions regarding cash flows beyond that period.

In forming their assessment, the directors have taken into account the expected continuation of revenue from existing contracted and recurring customer arrangements, together with anticipated renewals, and the expected cost base of the business.

Based on these forecasts and assumptions, and having regard to the timing of expected cash receipts and operating expenditures, the directors have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.

Accordingly, the financial statements have been prepared on a going concern basis.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. The Company has 2 main revenue streams.

Revenue recognition – licence, subscription and other revenue

Revenue from software licence and subscription agreements is recognised over the period to which the customer is entitled to access the Articheck platform. Amounts invoiced in advance of the relevant service period are recognised as deferred income and released to revenue over the period in which the service is provided.

Revenue from other services, including custom development, implementation and other project-based work, is recognised as the related services are performed and the revenue is earned. Where services are delivered over a period of time, revenue is recognised by reference to the stage of completion of the relevant work.

Amounts invoiced in advance of performance are recognised as deferred income, while amounts earned but not yet invoiced are recognised as accrued income.

Revenue recognition – strategic programme contracts

Revenue from strategic programme contracts is recognised over the period in which the related services are performed.

These contracts are structured around programme waves with a fixed delivery and customer access period. The total consideration attributable to a programme wave may increase where additional programme cohorts contract to participate after the programme has commenced.

Strategic programmes comprise three principal service elements: programme implementation, programme delivery and platform access. Contract consideration is apportioned between these elements based on management's assessment of the pattern in which services are delivered and value is provided to the customer. Revenue attributable to each element is recognised over the period in which those services are performed.

As the total consideration attributable to a programme wave is not fully determinable at contract inception, revenue is recognised only in respect of contract consideration that has become contractually committed. Where additional programme cohorts join an existing programme wave, the associated contract consideration is apportioned between programme implementation, programme delivery and platform access using the same methodology as the original contract and is recognised prospectively over the remaining delivery and customer access period for that programme wave.

Consequently, consideration relating to later cohort commitments is recognised over a shorter period than consideration relating to cohorts committed at programme commencement, with all revenue relating to a programme wave recognised by the conclusion of that wave.

Subsequent cohort commitments do not result in the restatement of revenue recognised in prior accounting periods. Additional contract consideration is recognised from the point at which the relevant cohort becomes contractually committed, in accordance with the policy above.

Revenue from the sale of goods is recognised at a point in time when control of the goods, including the significant risks and rewards of ownership, have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised over time by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 and cash and bank balances, 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 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 and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

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

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.

In the application of the company’s accounting policies, the directors are 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.

As noted in the turnover note, where contracts cross the year end an estimate of the stage of completion for the contract is conducted and any amounts that customers have paid in advance for this service is recorded as deferred income, as part of the creditors due within one year.

The directors have estimated the amount of corporation tax recoverable for the current tax year on the basis of reasonable certainty of recoverability.. No provision has been made for deferred tax assets as the timing of recovery is presently uncertain.

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

The current-year tax credit of £145,000 represents the estimated R&D tax credit relating to the year ended 30 April 2026.

The credit of £161,832 recognised in respect of prior periods relates to the year ended 30 April 2025. No corresponding amount was recognised in the previous year's financial statements, and the credit has therefore been recognised in the current year.

The comparative credit of £151,136 comprised R&D tax credits of £77,063 relating to the year ended 30 April 2023 and £74,073 relating to the year ended 30 April 2024.

The additions in the year principally relate to the acquisition of certain assets and intellectual property from Ki Futures B.V. and Ki Culture (Stichting).

The capitalised cost comprises the consideration attributable to the acquired assets together with directly attributable transaction costs incurred in completing the acquisition.

The acquired assets are being amortised over their estimated useful economic life in accordance with the Company's accounting policy for intangible fixed assets.

On 23 May 2025 Art-I-Check incorporated 100% of the Share Capital of a new company, KI Futures Limited. KI Futures Limited has a 31 May 2026 year end. It has not traded since incorporation.

During the year the Company allotted 3,690 £0.000001 Ordinary Shares for £10,000 (2025 - allotted 22,245 £0.000001 Ordinary Shares at a value of £57,921).

The Share Based Payment Reserve has been adjusted to reflect an error in the prior year for the Fair Value of Share Options in the Financial Statements.

The Company operates an unapproved share based payment scheme for some of it's employees.

The weighted average exercise price of the 229,848 options exercisable at 30 April 2026 at £0.91 is £209,162 as disclosed in Other Reserves on the Balance Sheet.

The Share Options were granted fully vested and can be exercised within 10 years of being the grant date, and in some circumstances when leaving the Company. On exercise the options holder receives Ordinary shares.

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the Scheme are held separately from those of the Company and are independently managed.

During the year £14,410 (2024 £11,168) employer contributions were made to the Scheme. At the year end the Company owed the Scheme £3,382 (2024 £4,643) which was paid into the Scheme in accordance with the Scheme Rules.