R3 LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.2 to the financial statements, which indicates that the Group and the Parent Company relies on financial backing from R3 Holdco LLC, the immediate and ultimate parent company of the Group, and which may itself require additional external funding or the implementation of robust mitigating strategies, neither of which are guaranteed to be successful. As stated in note 2.2, these events or conditions, along with other matters set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Group and Parent Company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the Group or Parent Company were unable to continue as a going concern. Our opinion is not modified in respect of this matter.

1. R3 LIMITED 2016-04-25 → present
2. R3 LRC LTD 2016-04-05 → 2016-04-25

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.2 to the financial statements, which indicates that the Group and the Parent Company relies on financial backing from R3 Holdco LLC, the immediate and ultimate parent company of the Group, and which may itself require additional external funding or the implementation of robust mitigating strategies, neither of which are guaranteed to be successful. As stated in note 2.2, these events or conditions, along with other matters set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Group and Parent Company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the Group or Parent Company were unable to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. R3 LIMITED · parent
   1. R3 Brasil Serviços De Technologia LTDA 0.9% · Brazil · Technological development

Significant events

• “In May 2025, R3 signed a commercial partnership with the Solana Foundation. A set of product and client milestones have been agreed with the Solana Foundation focused on driving adoption of the Solana blockchain by institutional customers. R3 will be compensated as each of these milestones are achieved. As part of this collaboration, an on-chain RWA marketplace ("Corda Protocol") is being developed by R3 Foundation (an independent Cayman entity) and supported by R3 and Solana.”
• “In November 2024, a multi-year contract was signed with a large central bank client to build a digital currencies platform on R3's block chain technology. In November 2025, R3 agreed to sell certain IP and other assets to this client. As part of this transaction, the existing contract with the client will be terminated. This was the largest client contract managed by CFS. In light of this development, the R3 business has been restructured to focus solely on supporting the commercialization of the Corda Protocol and the commercial partnership with the Solana Foundation. This corporate restructuring has entailed the closure of the CFS division.”
• “In November 2025, the Group has given notice to terminate the operating lease covering its London office. In parallel, the sub-lease with a tenant that occupies part of this office space will be terminated.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -8.7%

  £12,032,122 → £10,987,438

• Cash

  +168.3%

  £3,865,237 → £10,372,121

• Net assets

  -24.9%

  -£158,173,644 → -£197,612,566

• Employees

  -29%

  214 → 152

• Operating profit

  +26.6%

  -£47,250,189 → -£34,693,649

• Profit before tax

  +25.3%

  -£54,599,962 → -£40,770,799

• Wages

  -29.1%

  £28,643,367 → £20,297,770

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers