Deposition Technology Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC262730

Deposition Technology Ltd

Filleted Financial Statements

30 June 2024

Deposition Technology Ltd

Statement of Financial Position

30 June 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	25,609	67,105

Current assets

Stocks		81,669	67,781
Debtors	6	696,735	618,750
Cash at bank and in hand		42	29,650
		-----------	-----------
		778,446	716,181

Creditors: amounts falling due within one year	7	1,405,334	666,450
		--------------	-----------
Net current (liabilities)/assets		( 626,888)	49,731
		-----------	-----------
Total assets less current liabilities		( 601,279)	116,836

Creditors: amounts falling due after more than one year	8	9,640	19,907
		-----------	-----------
Net (liabilities)/assets		( 610,919)	96,929
		-----------	-----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 610,921)	96,927
	-----------	---------
Shareholders (deficit)/funds	( 610,919)	96,929
	-----------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Deposition Technology Ltd

Statement of Financial Position (continued)

30 June 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

B Bonar

Director

Company registration number: SC262730

Deposition Technology Ltd

Notes to the Financial Statements

Year ended 30 June 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 1, Kingsthorne Park, Houston Industrial Estate, Livingston, EH54 5DB, West Lothian.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which assumes the company will be able to continue its operations for the foreseeable future and will be able to realise its assets and discharge its liabilities and commitments in the normal course of business. The director's acknowledge that the ability of the company to continue as a going concern and to realise the carrying value of its assets and discharge its liabilities when due is dependent on the continued support of its parent company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. With regard to long term contracts, when the outcome of a contract can be reliably estimated, revenue from that contract is measured by reference to the stage of completion at the end of the reporting period. The stage of completion is measure by the proportion of contract costs incurred for the work to date compared to the estimated total contract costs. Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	10% straight line or 33% straight line
Plant and machinery	-	20% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2023: 8 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 Jul 2023	76,542	29,453	20,204	126,199
Disposals	( 50,367)	–	–	( 50,367)
	---------	---------	---------	-----------
At 30 Jun 2024	26,175	29,453	20,204	75,832
	---------	---------	---------	-----------
Depreciation
At 1 Jul 2023	18,661	26,852	13,581	59,094
Charge for the year	2,647	1,324	3,172	7,143
Disposals	( 16,014)	–	–	( 16,014)
	---------	---------	---------	-----------
At 30 Jun 2024	5,294	28,176	16,753	50,223
	---------	---------	---------	-----------
Carrying amount
At 30 Jun 2024	20,881	1,277	3,451	25,609
	---------	---------	---------	-----------
At 30 Jun 2023	57,881	2,601	6,623	67,105
	---------	---------	---------	-----------

6. Debtors

	2024	2023
	£	£
Trade debtors	68,146	172,316
Amounts owed by group undertakings and undertakings in which the company has a participating interest	46,067	21,795
Other debtors	582,522	424,639
	-----------	-----------
	696,735	618,750
	-----------	-----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	32,762	19,630
Trade creditors	170,703	307,710
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,164,473	–
Social security and other taxes	20,463	36,993
Other creditors	16,933	302,117
	--------------	-----------
	1,405,334	666,450
	--------------	-----------

HSBC hold a floating charge over the assets of the company, in respect of the bank overdraft facility.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,640	19,907
	--------	---------

9. Summary audit opinion

The auditor's report dated 26 September 2025 was qualified on the following basis:

We were unable to obtain sufficient appropriate audit evidence regarding the carrying amount of Closing Inventory in the financial statements. This limitation on the scope of our audit means we were unable to determine whether any adjustments were necessary in order to show a true and fair view of the company's financial statements.

The senior statutory auditor was Neil Paterson B.A. C.A , for and on behalf of PB Audit Limited .

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
The Directors	38,892	28,240	67,132
	---------	---------	---------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
The Directors	( 3,749)	42,641	38,892
	--------	---------	---------

11. Related party transactions

At 30 June 2024, the company owed Dalrada Technology Ltd, a 100% subsidiary of Dalrada Precision Parts Inc, £1,163,841 and Dalrada Precision Parts Inc, the parent company - £632. At 30 June 2024, the company was owed £46,067 from Likido Ltd, a 100% subsidiary of Dalrada Precision Parts Inc. During the year to 30 June 2024, the company paid £30,189 (2024 - £8,485)for rent and £85,538 (2023 - £157) for management fees to Dalrada Technology Ltd.

12. Controlling party

The immediate parent company is Silicon Services Consortium (Europe) Ltd. Silicon Services Consortium (Europe) Ltd is a wholly owned subsidiary of Dalrada Precision Corporation. The ultimate controlling party is Dalrada Financial Corporation, which holds the shares in Dalrada Precision Corporation. The financial results of Deposition Technology Ltd are included in the consolidated financial statements of Dalrada Financial Corporation, which are available from 600 La Terraza Blvd, Escondido, California, 92025.