REGISTERED NUMBER: 05142482 (England and Wales)

SAGA ROBOTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

P J From

S M C De La Noe

REGISTERED OFFICE:

G Tech Building

Firth Road Business Centre

Firth Road

Lincoln

LN6 7AA

REGISTERED NUMBER:

05142482 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Intangible assets

4

1,051,385

1,031,660

Tangible assets

5

2,471,494

847,451

3,522,879

1,879,111

CURRENT ASSETS

Stocks

38,679

153,074

Debtors

6

450,051

195,335

Cash at bank

175,755

295,226

664,485

643,635

CREDITORS

Amounts falling due within one year

7

332,842

422,170

NET CURRENT ASSETS

331,643

221,465

TOTAL ASSETS LESS CURRENT LIABILITIES

3,854,522

2,100,576

CREDITORS

Amounts falling due after more than one year

8

9,635,199

5,243,841

NET LIABILITIES

(5,780,677

)

(3,143,265

)

CAPITAL AND RESERVES

Called up share capital

11

1

1

Retained earnings

(5,780,678

)

(3,143,266

)

SHAREHOLDERS' FUNDS

(5,780,677

)

(3,143,265

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

P J From - Director

1.	STATUTORY INFORMATION

Saga Robotics 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of robots and parts is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from robot services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to treatment of plants.

Interest receivable

Interest income is recognised at the date which it is recieved.

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 has not historically been amortised as it was not in use. In the current year this has been brought into use and has been amortised over its estimate useful life of 3 years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Going concern

At the end of the period Saga Robotics Limited made a loss of £2,637,412 (2023: £1,083,688). At the balance sheet date the liabilities were greater than their assets by £5,780,677 (2023: £3,143,265). The company continues to be supported by the parent company as Saga Robotics Ltd continue to scale its commercial operations in the UK.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 42 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

1,031,660

Additions

363,612

At 31 December 2024

1,395,272

AMORTISATION

Charge for year

343,887

At 31 December 2024

343,887

NET BOOK VALUE

At 31 December 2024

1,051,385

At 31 December 2023

1,031,660

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,992,412

Additions

2,304,837

At 31 December 2024

4,297,249

DEPRECIATION

At 1 January 2024

1,144,961

Charge for year

680,794

At 31 December 2024

1,825,755

NET BOOK VALUE

At 31 December 2024

2,471,494

At 31 December 2023

847,451

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

179,578

60,832

Other debtors

270,473

134,503

450,051

195,335

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 9)

2,172

-

Trade creditors

71,133

41,614

Taxation and social security

36,456

71,113

Other creditors

223,081

309,443

332,842

422,170

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 9)

22,715

-

Amounts owed to group undertakings

9,612,484

5,243,841

9,635,199

5,243,841

Amounts owed to group that are due after one year are unsecured and interest is charged at a rate of 5.75%.

9.	LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £237,231 (2023: £288,716).

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

24,887

-

Charges are registered at Companies House to the company. There is a fixed charge and floating charge to Dnb Bank Asa for the motor vehicle known as the Ford Transit Van, and a floating charge covering all the property or undertaking of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary Shares

£1

1

1