REGISTERED NUMBER: 10989039 (England and Wales)

Audited Financial Statements

for the Period

1 October 2024 to 28 February 2025

for

Aspire Technology Solutions Commercial

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C Fraser

Mr S W Hall

REGISTERED OFFICE:

Pipewell Quay

Pipewellgate

Gateshead

Tyne and Wear

NE8 2BJ

REGISTERED NUMBER:

10989039 (England and Wales)

AUDITORS:

S&W Partners Audit Limited

Statutory Auditor

Chartered Accountants

17 Queens Lane

Newcastle

NE1 1RN

FIXED ASSETS

Intangible assets

5

-

34,273

Tangible assets

6

-

112,671

-

146,944

CURRENT ASSETS

Stocks

-

52,579

Debtors

7

31,568

4,962,153

Cash at bank

500,597

297,355

532,165

5,312,087

CREDITORS

Amounts falling due within one year

8

(3,339,365

)

(5,527,963

)

NET CURRENT LIABILITIES

(2,807,200

)

(215,876

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,807,200

)

(68,932

)

CREDITORS

Amounts falling due after more than one year

9

-

(43,576

)

NET LIABILITIES

(2,807,200

)

(112,508

)

CAPITAL AND RESERVES

Called up share capital

400

400

Share premium

379,620

379,620

Profit and loss account

(3,187,220

)

(492,528

)

SHAREHOLDERS' FUNDS

(2,807,200

)

(112,508

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2025 and were signed on its behalf by:

Mr S W Hall - Director

1.	STATUTORY INFORMATION

Aspire Technology Solutions Commercial Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company's accounting reference date was shortened from 30 September 2025 to 28 February 2025 in order to be in line with the rest of the Group. As a result, the comparatives are not readily comparable.

Critical accounting judgements and key sources of estimation uncertainty

There were no critical judgements or key assumptions that had a significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial assets

All financial assets are initially recognised at fair value, plus transaction costs and subsequently measured at mortised cost. Trade receivables are held in order to collect the contractual cash flows and are initially measured at the transaction price as defined in IFRS 15 Revenue from contracts with customers, as the contracts of the Company do not contain significant financing components. Impairment losses are recognised based on lifetime expected credit losses in profit or loss. The Company reviews the amount of credit loss associated with its trade receivables based on forward looking estimates, taking into account current and forecast credit conditions.

Other receivables are held in order to collect the contractual cash flows and accordingly are measured at initial recognition at fair value, which ordinarily equates to cost and are subsequently measured at cost less impairment due to their short-term nature. A provision for impairment is established based on 12-month expected credit losses unless there has been a significant increase in credit risk when lifetime expected credit losses are recognised. The amount of any provision is recognised in profit or loss.

All financial assets are recognised when the Company becomes a party to the contractual provisions of the instrument. Derecognition of financial assets occurs when the rights to receive cash flows from the instruments expire or are transferred and substantially all of the risks and rewards of ownership have been transferred. An assessment for impairment is undertaken, at least, at each reporting date.

Interest and other cash flows resulting from holding financial assets are recognised in the Statement of Comprehensive Income when receivable.

Cash and cash equivalents

Cash at bank and in hand comprises cash on hand and demand deposits.

Financial liabilities

Financial liabilities are obligations to pay cash or other financial instruments and are recognised when the Company becomes a party to the contractual provisions of the instrument. Borrowings are recognised initially at fair value less attributable transaction costs. They are subsequently measured at amortised cost. Any difference between the amount initially recognised and the redemption value is recognised in profit or loss over the period of the borrowings, together with any interest and fees payable using the effective interest method.

Trade and other payables are initially recognised at fair value less attributable transaction costs. They are subsequently measured at amortised cost.

Finance charges, including premiums payable on settlement or redemption, and direct issue costs are charged to the Statement of Comprehensive Income on an accruals basis using the effective interest method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The Company makes payments to defined contribution retirement benefit plans that are charged as an expense as they fall due. Payments are made on the basis of a percentage of qualifying salary for certain employees to personal pension schemes.

Issued share capital

Ordinary shares are classified as equity. Incremental costs attributable to the issue of shares or options are recorded in equity as a deduction from proceeds.

Government grants

The Company received funding from various Government sources in relation to COVID-19. Government income is recognised in profit or loss (within other income) on a systematic basis over the periods in which the Company recognises costs for which the grants are intended to compensate. Where is is not yet considered highly probable that Government funding will not have to be repaid, this element is deferred on the balance sheet within other creditors.

Exceptional items

Items which are material either because of their size or their nature, are highlighted separately on the face of the Statement of Comprehensive Income. The separate reporting of these items helps provide a better picture of the Company's underlying performance. Items which may be included within this category include, but are not limited to, acquisition costs, spend on the integration of significant acquisitions and other major restructuring or rationalisation programmes, significant asset impairments and other particularly significant or unusual items.

Exceptional items are excluded from the headline profit measures used by the Company and are highlighted separately in the Statement of Comprehensive Income as management believe that they need to be considered separately to gain an understanding of the underlying profitability of the trading businesses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 26 (2024 - 45 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2024

461,629

24,396

486,025

Disposals

(461,629

)

(24,396

)

(486,025

)

At 28 February 2025

-

-

-

AMORTISATION

At 1 October 2024

427,356

24,396

451,752

Eliminated on disposal

(427,356

)

(24,396

)

(451,752

)

At 28 February 2025

-

-

-

NET BOOK VALUE

At 28 February 2025

-

-

-

At 30 September 2024

34,273

-

34,273

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

714,199

Disposals

(714,199

)

At 28 February 2025

-

DEPRECIATION

At 1 October 2024

601,528

Charge for period

35,347

Eliminated on disposal

(636,875

)

At 28 February 2025

-

NET BOOK VALUE

At 28 February 2025

-

At 30 September 2024

112,671

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

870,264

Amounts owed by group undertakings

-

3,041,671

Other debtors

31,568

1,050,218

31,568

4,962,153

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

915,220

2,872,296

Amounts owed to group undertakings

2,127,253

840,308

Taxation and social security

113,331

512,640

Other creditors

183,561

1,302,719

3,339,365

5,527,963

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Finance leases

-

43,576

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The financial statements of Aspire Technology Solutions Commercial Limited for the year ended 30 September 2024 were unaudited.

Nicola Scarr, ACA (Senior Statutory Auditor)

for and on behalf of S&W Partners Audit Limited

11.	ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Aspire Technology Solutions Limited, a company registered in England and Wales. The ultimate controlling party is Aspire Technology Enterprise Limited, a company registered in England and Wales.