REGISTERED NUMBER: 08750033 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SLINGSHOT AEROSPACE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Godwin

R R M McMahon

J Pekarovic

N R Smith

REGISTERED OFFICE:

Space Systems Operations Facility

Spaceport Cornwall, St Mawgan

Newquay

Cornwall

TR8 4HP

REGISTERED NUMBER:

08750033 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Intangible assets

5

2

2

Tangible assets

6

-

6,863

2

6,865

CURRENT ASSETS

Stocks

83,559

-

Debtors

7

268,974

219,482

Cash at bank

325,684

330,786

678,217

550,268

CREDITORS

Amounts falling due within one year

8

1,517,816

651,945

NET CURRENT LIABILITIES

(839,599

)

(101,677

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(839,597

)

(94,812

)

PROVISIONS FOR LIABILITIES

9

-

1,304

NET LIABILITIES

(839,597

)

(96,116

)

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

11

(840,597

)

(97,116

)

SHAREHOLDERS' FUNDS

(839,597

)

(96,116

)

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 20 October 2026 and were signed on its behalf by:

J Pekarovic - Director

1.	STATUTORY INFORMATION

Slingshot Aerospace Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Certain contracts carry a Termination for Convenience clause. Under such contracts, whilst a customer can cancel at any time, any work done to that date is billable and is reconsigned as income at the point of cancellation.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Software development cost, is being amortised evenly over its estimated useful life of 4 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

Foreign currencies

The financial statements are presented in GBP, being both the company's functional and presentation currency. Transactions denominated in foreign currencies are translated into GBP at the rates of exchange in operation on the dates of the transactions. Monetary assets and liabilities expressed in foreign currencies are translated into GBP at the rates of exchange prevailing at the date of the Statements of Financial Position. Translation differences are dealt with through the Statement of Comprehensive Income in the period in which they arise.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

183,855

60,656

244,511

AMORTISATION

At 1 January 2025

and 31 December 2025

183,854

60,655

244,509

NET BOOK VALUE

At 31 December 2025

1

1

2

At 31 December 2024

1

1

2

6.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2025

and 31 December 2025

24,864

DEPRECIATION

At 1 January 2025

18,001

Charge for year

6,863

At 31 December 2025

24,864

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

6,863

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

207,843

157,278

Income not taken under GAAP

41,199

-

Other debtors

12,533

-

Tax

-

61,705

VAT

-

499

Prepayments

7,399

-

268,974

219,482

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

35

-

Trade creditors

45,939

-

Amounts owed to group undertakings

832,903

43,889

VAT

25,204

-

Other creditors

-

331

Accruals and deferred income

574,534

534,300

Accrued expenses

39,201

73,425

1,517,816

651,945

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

1,304

Deferred

tax

£

Balance at 1 January 2025

1,304

Credit to Income Statement during year

(1,304

)

Balance at 31 December 2025

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1 January 2025

(97,116

)

Deficit for the year

(743,481

)

At 31 December 2025

(840,597

)

12.	ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Slingshot Aerospace Inc, a company registered in the USA.