Elx Solutions Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Elx Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12269209 . The registered office is Suite 15 Highfield House, 185 Chorley New Road, Bolton, BL1 4QZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are intellectual property. They are amortised to profit and loss account in full in the year of acquisition.

2.4. Research and Development

Expenditure on research and development is written over their estimated usefull lives of 3 years.

Development costs are only capitalised when the related products meet the recognition criteria of an internally

generated intangible asset, the key criterion as follows:

-technical feasibity of the completed intangible asset;

-the probability of future economic benefits;

-the reliable measurement of cost; and

-the ability and intention of the company to use or sell the intangible asset.

Expenses for research and development include associated wages and salaries, material costs, depreciation and

directly attributable overheads. The identifiable expenditure is then amortised over the period during which the

benefit is expected to occur. Provision is made for any impairment.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% on reducing balance
Fixtures & Fittings	15% on reducing balance
Computer Equipment	33.3% on cost

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Elx Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 9)

4. Intangible Assets

	Other	Development Costs	Total
	£	£	£
Cost
As at 1 April 2024	12,000	856,105	868,105
Additions	-	260,876	260,876

As at 31 March 2025	12,000	1,116,981	1,128,981

Amortisation
As at 1 April 2024	12,000	685,359	697,359
Provided during the period	-	172,332	172,332

As at 31 March 2025	12,000	857,691	869,691

...CONTINUED

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Elx Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	-	259,290	259,290

As at 1 April 2024	-	170,746	170,746

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	19,125	1,500	4,862	25,487
Additions	-	-	4,343	4,343

As at 31 March 2025	19,125	1,500	9,205	29,830

Depreciation
As at 1 April 2024	11,056	873	4,302	16,231
Provided during the period	2,018	157	1,726	3,901

As at 31 March 2025	13,074	1,030	6,028	20,132

Net Book Value
As at 31 March 2025	6,051	470	3,177	9,698

As at 1 April 2024	8,069	627	560	9,256

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	6,051	8,069

6. Stocks

	2025	2024
	£	£
Materials	37,529	31,665

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	230,345	177,148
Prepayments and accrued income	546	1,402

	230,891	178,550

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Elx Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	2,336	4,005
Trade creditors	7,820	36,166
Bank loans and overdrafts	5,500	5,500
Corporation tax	39,328	-
Other taxes and social security	18,446	47,584
VAT	34,804	13,892
Pension creditor	2,742	6,420
Factoring creditor	36,497	84,033
Accruals and deferred income	2,803	13,575

	150,276	211,175

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	2,336
Bank loans	22,907	29,254

	22,907	31,590

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	2,336	4,005
Later than one year and not later than five years	-	2,336

	2,336	6,341

	2,336	6,341

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	855	855

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		259,290		170,746
Tangible Assets	5		9,698		9,256

			268,988		180,002
CURRENT ASSETS
Stocks	6	37,529		31,665
Debtors	7	230,891		178,550
Cash at bank and in hand		24,459		26,623

		292,879		236,838
Creditors: Amounts Falling Due Within One Year	8	(150,276 )		(211,175 )

NET CURRENT ASSETS (LIABILITIES)			142,603		25,663

TOTAL ASSETS LESS CURRENT LIABILITIES			411,591		205,665

Creditors: Amounts Falling Due After More Than One Year	9		(22,907 )		(31,590 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,940 )		-

NET ASSETS			386,744		174,075

CAPITAL AND RESERVES
Called up share capital	11		855		855
Profit and Loss Account			385,889		173,220

SHAREHOLDERS' FUNDS			386,744		174,075

Mr Andrew Katsouris Director	Mr Jonathan Luke Director
15/08/2025