TISICS Limited - Filleted accounts

Registered number

05437712

TISICS Limited

Filleted Accounts

31 March 2025

TISICS Limited
Registered number:		05437712
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		1,813,596			1,562,439
Tangible assets	4		603,801			696,739
			2,417,397			2,259,178

Current assets
Stocks		302,957			301,062
Debtors	5	1,085,037			905,169
Cash at bank and in hand		239,048			72,351
		1,627,042			1,278,582

Creditors: amounts falling due within one year	6	(1,184,551)			(492,700)

Net current assets			442,491			785,882

Total assets less current liabilities			2,859,888			3,045,060

Creditors: amounts falling due after more than one year	7		(1,464,772)			(1,638,987)



Net assets			1,395,116			1,406,073

Capital and reserves
Called up share capital			275,203			275,203
Share premium			1,247,018			1,247,018
Profit and loss account			(127,105)			(116,148)

Shareholders' funds			1,395,116			1,406,073

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Ayantika Mitra			Stephen John Kyle-Henney
Director			Director
Approved by the board on 19 September 2025			Approved by the board on 19 September 2025

TISICS Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings	over the lease term
	Plant and machinery	12.5% straight line
	Second-hand plant and machinery	20% straight line
	Fixtures, fittings, tools and equipment	12.5% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			24		19


3	Intangible fixed assets					£
	Intellectual Property, Research & Development and Patents:

	Cost
	At 1 April 2024					1,809,396
	Additions					271,382
	At 31 March 2025					2,080,778

	Amortisation
	At 1 April 2024					246,957
	Provided during the year					20,225
	At 31 March 2025					267,182

	Net book value
	At 31 March 2025					1,813,596
	At 31 March 2024					1,562,439

	Patents & Intellectual Property is being written off in equal annual instalments over its estimated economic life of 10 years and Research & Development in equal annual instalments over its estimated economic life of 15 years. Capitalised development projects are amortised once the project starts to deliver commercial benefits, unamortised projects are reviewed annually.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	532,623		1,395,385		1,928,008
	Additions	-		559		559
	At 31 March 2025	532,623		1,395,944		1,928,567

	Depreciation
	At 1 April 2024	518,191		713,078		1,231,269
	Charge for the year	5,306		88,191		93,497
	At 31 March 2025	523,497		801,269		1,324,766

	Net book value
	At 31 March 2025	9,126		594,675		603,801
	At 31 March 2024	14,432		682,307		696,739


5	Debtors			2025		2024
£					£

	Trade debtors			390,524		170,823
	R&D tax credit receivable (RDEC)			627,139		305,383
	Other debtors			67,374		428,963
				1,085,037		905,169


6	Creditors: amounts falling due within one year			2025		2024
£					£

	SKH - Directors Loan Account			122,000		50,000
	AM - Directors Loan Account			-		15,000
	Bank loans and overdrafts			346,797		3,751
	Trade creditors			374,487		278,464
	Taxation and social security costs			188,540		114,815
	Other creditors			152,727		30,670
				1,184,551		492,700


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			929,414		1,148,063
	Deferred income liability			306,237		261,803
	SKH - Directors Loan Account			229,121		229,121
				1,464,772		1,638,987


8	Related party transactions

	During the year the company entered into the following transactions with related parties:

				2025		2024
£					£

	Mr S Kyle-Henney - DLA Payable (Long Term)			(229,121)		(229,121)
	Mr S Kyle-Henney - DLA Payable (Short term)			(122,000)		(50,000)
	Ayantika Mitra - DLA Payable (Short term)			-		(15,000)

9	Other information

	TISICS Limited is a private company limited by shares and incorporated in England. Its registered office is:
	22 Invincible Road
	Farnborough
	Hampshire
	GU14 7QU