REASOON LIMITED


Director	LUO, Yi


Registered Address	1 Giltspur Street
	London
	EC1A 9DD


Registered Number	13839159 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2026

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The financial statements have been prepared on a going concern basis as the director considers that the company has sufficient funds to enable it to continue to trade for at least a period of twelve months from the date of approval of the financial statements.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below. Fair value of intangible assets - the year end fair value of the cryptocurrency included within intangible assets of £107,981 (2025: £121,668) is deemed to be a reasonable estimate for the residual value. As the residual value exceeds the original cost of the asset, therefore no amortisation has been charged. The revaluation of cryptocurrency assets, included within intangible assets is being recognised in Other Comprehensive Income during the year of £39,455 revaluation charge (2025: £98,367 revaluation gain).

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Fair value of intangible assets - the year end fair value of the cryptocurrency included within intangible assets of £107,981 (2025: £121,668) is deemed to be a reasonable estimate for the residual value. As the residual value exceeds the original cost of the asset, therefore no amortisation has been charged. The revaluation of cryptocurrency assets, included within intangible assets is being recognised in Other Comprehensive Income during the year of £39,455 revaluation charge (2025: £98,367 revaluation gain).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

	Share-based payments
	The share-based payment has been accounted for as an equity-settled transaction in accordance with FRS 102 Section 26. The fair value of the options at the grant date is recognised as an expense over the vesting period, with a corresponding credit to equity.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Intangible assets
	Cryptocurrency assets are classified as intangible assets and are initially measured at cost. Subsequently, they are revalued at fair value at each reporting date, with gains or losses arising from changes in fair value recognised in other comprehensive income, in the revaluation reserve. Fair value is determined using observable market prices, given that an active market now exists across many digital exchanges. Intangible fixed assets are stated at valuation less amortisation, the useful economic life of cryptocurrency assets is considered to be 10 years. Gains or losses on disposal of cryptocurrency assets are recognised in the profit and loss.

Intangible assets

Cryptocurrency assets are classified as intangible assets and are initially measured at cost. 

Subsequently, they are revalued at fair value at each reporting date, with gains or losses arising from changes in fair value recognised in other comprehensive income, in the revaluation reserve. Fair value is determined using observable market prices, given that an active market now exists across many digital exchanges. 

Intangible fixed assets are stated at valuation less amortisation, the useful economic life of cryptocurrency assets is considered to be 10 years.

Gains or losses on disposal of cryptocurrency assets are recognised in the profit and loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

	Investments
	Current asset investments comprise short-term deposits held for cash-management purposes, which are expected to be realised within twelve months of the balance sheet date. Cash deposits with an original maturity of more than three months are excluded from cash and cash equivalents and are presented as current asset investments. These deposits are basic debt instruments are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised in profit or loss on an accruals basis using the effective interest method.

Investments

Current asset investments comprise short-term deposits held for cash-management purposes, which are expected to be realised within twelve months of the balance sheet date.

Cash deposits with an original maturity of more than three months are excluded from cash and cash equivalents and are presented as current asset investments. These deposits are basic debt instruments are measured at amortised cost using the effective interest method, less any impairment.

Interest income is recognised in profit or loss on an accruals basis using the effective interest method.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	9		9

3.	Prior period adjustment
	In the prior year financial statements, R&D tax credit of £163,876 was incorrectly classified within trade debtors due within one year, instead of other debtors due within one year and the comparative figures have been restated accordingly. In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, this has been treated a correction of a prior period error. The effect of the adjustment on the prior year is summarised below: Previously Reported Adjustment Restated £ £ £ Trade debtors due within one year 198,482 (163,876) 34,606 Other debtors due within one year 16,396 163,876 180,272 Net assets 1,285,892 - 1,285,892 The prior period adjustment had no impact on the Company's net assets, profit or loss or cash balances for the comparative period. The adjustment has no impact on opening reserves for the current period.

Prior period adjustment

In the prior year financial statements, R&D tax credit of £163,876 was incorrectly classified within trade debtors due within one year, instead of other debtors due within one year and the comparative figures have been restated accordingly.

In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, this has been treated a correction of a prior period error. 

The effect of the adjustment on the prior year is summarised below:
                                                        Previously Reported                      Adjustment                       Restated 
                                                                       £                                              £                                     £
Trade debtors due within one year           198,482                                 (163,876)                           34,606
Other debtors due within one year             16,396                                   163,876                          180,272
Net assets                                             1,285,892                                         -                             1,285,892

The prior period adjustment had no impact on the Company's net assets, profit or loss or cash balances for the comparative period. The adjustment has no impact on opening reserves for the current period.

4.	Intangible assets
	As at 31st January 2026, the historical cost of these intangibles was £56,797 (2025: £38,250).

	Other	Total
	£	£
Cost or valuation
At 01 February 25	121,668	121,668
Additions	254,002	254,002
Revaluations	(39,455)	(39,455)
Disposals	(228,234)	(228,234)
At 31 January 26	107,981	107,981
Net book value
At 31 January 26	107,981	107,981
At 31 January 25	121,668	121,668

5.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 February 25	27,870	27,870
Additions	4,174	4,174
At 31 January 26	32,044	32,044
Depreciation and impairment
At 01 February 25	14,606	14,606
Charge for year	8,175	8,175
At 31 January 26	22,781	22,781
Net book value
At 31 January 26	9,263	9,263
At 31 January 25	13,264	13,264

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	27,587	34,606
Other debtors	217,476	180,272
Prepayments and accrued income	35,085	63,325
Total	280,148	278,203

7.	Current asset investments
	Included within current assets investments is £2,000,000 (2025: £nil) held in a cash deposit with an original maturity of more than three months but less than twelve months, measured at amortised cost. The Director has reviewed the carrying value of the investment and confirm there are no indicators of impairment as at the balance sheet date. Accordingly, no impairment charge has been recognised in the year. The historical cost of the investments is £2,000,000 (2025: £nil). Other Total investments1 £ £ Cost or valuation Additions 2,000,000 2,000,000 At 31 January 26 2,000,000 2,000,000 Net book value At 31 January 26 2,000,000 2,000,000 At 31 January 25 - - 1 Other investments other than loans

Current asset investments

Included within current assets investments is £2,000,000 (2025: £nil) held in a cash deposit with an original maturity of more than three months but less than twelve months, measured at amortised cost. 

The Director has reviewed the carrying value of the investment and confirm there are no indicators of impairment as at the balance sheet date. Accordingly, no impairment charge has been recognised in the year. The historical cost of the investments is £2,000,000 (2025: £nil).

                                                                      Other            Total
                                                          investments1            
                                                                   £                         £
Cost or valuation
Additions                                             2,000,000           2,000,000
At 31 January 26                                 2,000,000           2,000,000
Net book value
At 31 January 26                                 2,000,000           2,000,000
At 31 January 25                                          -                         -

1 Other investments other than loans

8.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	47,710	6,854
Taxation and social security	-	25,403
Other creditors	7,833	110,602
Accrued liabilities and deferred income	8,092	24,050
Total	63,635	166,909


	At the balance sheet date, the Company owed £nil (2025: £99,498) to the Director and this amount is included within Other creditors. The loan is unsecured, interest free and repayable on demand.

9.	Operating lease commitments
	At 31 January 2026, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £21,700 (2025: £6,000) which is payable within the next 12 months

10.	Further information regarding the company's financial position
	Included in Other Reserves are Simple Agreement for Advanced Subscription Agreements (‘ASA’s’) totaling £98,090 (2025: £99,421). During the year the Company received new ASA's funding of £18,669 and £20,000 of existing ASAs were converted into ordinary shares, reducing the balance from £99,421 to £98,090. The ASA’s are expected to convert to equity at a future date. The company identified share-based payment arrangements during the current period which existed in prior periods. The impact on prior year profit and net assets was assessed and determined not to be material. Accordingly, the related share-based payment expense, including amounts related to prior periods, has been recognised in full in the current year. The company established an equity-settled share option scheme to incentivise key employees. All options granted have an exercise price of £0.00001, are granted over the company's Ordinary shares and are subject to service conditions, vesting over two or four years. All options granted historically and during the year have been deemed to have a fair value of £0.2788 based on historical funding. The number and exercise price of the shares were as follows: 2026 2026 Number (£) Outstanding at the beginning of the year 137,382 0.00001 Granted during the year 64,066 0.00001 Exercised during the year (23,740) 0.00001 Forfeited during the year (20,415) 0.00001 Cancelled during the year - Outstanding at the end of the year 157,293 0.00001 Exercisable at the end of the year 78,450 0.00001 The value of the options vested during the year was £36,027 (2025: £nil) and this was charged to the profit and loss. The total carrying amount is £36,027 (2025: £nil) recognised in the share based payment reserve within Other reserves in equity.

10.

Further information regarding the company's financial position

Included in Other Reserves are Simple Agreement for Advanced Subscription Agreements (‘ASA’s’) totaling £98,090 (2025: £99,421). During the year the Company received new ASA's funding of £18,669 and £20,000 of existing ASAs were converted into ordinary shares, reducing the balance from £99,421 to £98,090. The ASA’s are expected to convert to equity at a future date.

The company identified share-based payment arrangements during the current period which existed in prior periods. The impact on prior year profit and net assets was assessed and determined not to be material. Accordingly, the related share-based payment expense, including amounts related to prior
periods, has been recognised in full in the current year. 

The company established an equity-settled share option scheme to incentivise key employees. All options granted have an exercise price of £0.00001, are granted over the company's Ordinary shares and are subject to service conditions, vesting over two or four years. All options granted historically and during the year have been deemed to have a fair value of £0.2788 based on historical funding.

The number and exercise price of the shares were as follows:
                                                                                  2026             2026 
                                                                               Number             (£) 
Outstanding at the beginning of the year               137,382         0.00001 
Granted during the year                                           64,066         0.00001 
Exercised during the year                                       (23,740)        0.00001 
Forfeited during the year                                         (20,415)        0.00001 
Cancelled during the year                                             - 
Outstanding at the end of the year                         157,293         0.00001 
Exercisable at the end of the year                            78,450         0.00001 

The value of the options vested during the year was £36,027 (2025: £nil) and this was charged to the profit and loss. The total carrying amount is £36,027 (2025: £nil) recognised in the share based payment reserve within Other reserves in equity.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Intangible assets	4		107,981		121,668
Tangible assets	5		9,263		13,264
			117,244		134,932
Current assets
Debtors	6	280,148		278,203
Current asset investments	7	2,000,000		-
Cash at bank and on hand		991,047		1,039,666
		3,271,195		1,317,869
Creditors amounts falling due within one year	8	(63,635)		(166,909)
Net current assets (liabilities)			3,207,560		1,150,960
Total assets less current liabilities			3,324,804		1,285,892
Net assets			3,324,804		1,285,892
Capital and reserves
Called up share capital			14		11
Share premium			6,130,214		3,191,337
Revaluation reserve			51,184		83,418
Other reserves			134,117		99,421
Profit and loss account			(2,990,725)		(2,088,295)
Shareholders' funds			3,324,804		1,285,892