Company registration number 06052274 (England and Wales)
METRICELL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
METRICELL LIMITED
COMPANY INFORMATION
Directors
Mr L H Alexander
Dr S Mockford
Mr F J Pareja Pena
Mr P Richardson
Mr F J Rowsell
Mr T J Staniland
Mr A R Watson
Company number
06052274
Registered office
The Big Blue
26 Foundry Lane
Horsham
West Sussex
RH13 5PX
Auditor
Sumer Audit
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
METRICELL LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20
METRICELL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report and audited financial statements for the year ended 31 March 2025.

Fair review of the business

2025 was a landmark year for Metricell Limited, delivering exceptional financial performance and strategic progress. Turnover surged to £9.1 million (2023/24: £7.3 million), a 24.7% year-on-year increase, while profit before tax increased by more than 180% to £2.02 million (2023/24: £703K). Net assets rose to £7.03 million, reflecting robust profitability and disciplined capital management.

This growth was underpinned by:

- Deepening customer relationships and expanding recurring revenue streams.

- Breakthrough product innovations, especially in AI-driven analytics and automation.

- Operational excellence, with improved margins and cost control despite macroeconomic headwinds.

Metricell’s performance demonstrates its resilience, scalability, and strategic positioning in a rapidly evolving digital infrastructure landscape.

Principal risks and uncertainties

Metricell maintains a proactive and dynamic approach to risk management. The Board and senior management regularly review risks, supported by rigorous monitoring systems and mitigation strategies.

Key strengths include:

- A loyal customer base generating recurring revenues and predictable cashflow.

- Strong cash reserves relative to working capital needs.

- Enhanced cybersecurity and data protection protocols.

The company’s size enables hands-on governance, ensuring that operational, financial and commercial risks are effectively managed.

Directors' statement of compliance with duty to promote the success of the company

The Directors are committed to promoting the long-term success of the Company in accordance with section 172 of the Companies Act 2006. Decisions are made with consideration for employees, customers, suppliers and other stakeholders. The Board ensures responsible governance and high standards of conduct, aligning business operations with sustainable growth and stakeholder value.

Development

Metricell is entering a transformative phase, driven by bold innovation, strategic foresight and a relentless focus on value creation. The Directors are committed to unlocking the full potential of the business, ensuring every decision aligns with long-term growth and stakeholder success.

We operate with a clear vision: to scale our technology, deepen customer relationships and expand into high-growth markets. Our governance framework supports agile decision-making, empowering teams to deliver results while maintaining the highest standards of integrity and accountability with a strong foundation in place — including a loyal customer base, cutting-edge products and a proven financial model.

Metricell is perfectly positioned for its next chapter. Whether through organic growth or strategic partnership, the company offers a compelling platform for future expansion and investment.

METRICELL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Other performance indicators

Metricell continues to outperform industry benchmarks in Customer Satisfaction and Net Promoter Score, with high customer retention across key accounts.

Strategic investment in R&D, particularly in artificial intelligence, has expanded our product portfolio and opened doors to new industry verticals. Recent innovations include:

- Predictive analytics

- Intelligent automation solutions

These developments reinforce our position as a technology innovator and lay the foundation for sustained growth and market expansion.

On behalf of the board

Mr T J Staniland
Director
14 October 2025
METRICELL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principle activity of the company is that of software development for telecoms and other industry verticals, including transport.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr L H Alexander
Mrs T L Hines
(Resigned 19 September 2025)
Dr S Mockford
Mr F J Pareja Pena
Mr P Richardson
Mr F J Rowsell
Mr T J Staniland
Mr A R Watson
Auditor

The auditor, Sumer Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr T J Staniland
Director
14 October 2025
METRICELL LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

METRICELL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF METRICELL LIMITED
- 5 -
Opinion

We have audited the financial statements of Metricell Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

METRICELL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF METRICELL LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- Obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations;

- Obtaining an understanding of the company’s policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud; and

- Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector-specific experience.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: health & safety, employment law and compliance with the UK Companies Act.

METRICELL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF METRICELL LIMITED
- 7 -

In addition to the above, our procedures to respond to risks identified included the following:

- Making enquiries of management about any known or suspected instances of non-compliance with laws and regulations and fraud;

- Reviewing minutes of meetings of the board and senior management;

- Challenging assumptions and judgements made by management in their significant accounting estimates; and

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Kristina Perry FCCA (Senior Statutory Auditor)
For and on behalf of Sumer Audit
16 October 2025
Chartered Accountants
Statutory Auditor
Worthing
Sumer Audit is the trading name of Sumer Auditco Limited
METRICELL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
9,096,934
7,297,625
Cost of sales
(2,704,764)
(2,461,370)
Gross profit
6,392,170
4,836,255
Administrative expenses
(4,296,718)
(4,230,844)
Exceptional item
16
(268,342)
-
0
Operating profit
4
1,827,110
605,411
Interest receivable and similar income
7
190,666
97,623
Profit before taxation
2,017,776
703,034
Tax on profit
8
(299,282)
(98,156)
Profit for the financial year
1,718,494
604,878

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

METRICELL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
10
82,796
122,771
Tangible assets
11
1,264,104
1,373,142
1,346,900
1,495,913
Current assets
Stocks
12
2,500
5,884
Debtors
13
2,870,713
2,369,101
Cash at bank and in hand
5,508,351
3,364,777
8,381,564
5,739,762
Creditors: amounts falling due within one year
14
(2,699,610)
(2,193,657)
Net current assets
5,681,954
3,546,105
Net assets
7,028,854
5,042,018
Capital and reserves
Called up share capital
17
1,000
1,000
Other reserves
16
268,342
-
0
Profit and loss reserves
6,759,512
5,041,018
Total equity
7,028,854
5,042,018

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 October 2025 and are signed on its behalf by:
Dr S Mockford
Mr T J Staniland
Director
Director
Company registration number 06052274 (England and Wales)
METRICELL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
Share capital
Other reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
1,000
-
4,691,640
4,692,640
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
604,878
604,878
Dividends
9
-
-
(255,500)
(255,500)
Balance at 31 March 2024
1,000
-
5,041,018
5,042,018
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
1,718,494
1,718,494
Share based payments
16
-
268,342
-
0
268,342
Balance at 31 March 2025
1,000
268,342
6,759,512
7,028,854
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
1
Accounting policies
Company information

Metricell Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Big Blue, 26 Foundry Lane, Horsham, West Sussex, RH13 5PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Metricell Group Limited. These consolidated financial statements are available from its registered office.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 12 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
3 - 7 years straight line per annum
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings freehold
Straight line over 50 years (buildings)
Plant and equipment
4% straight line per annum
Fixtures, fittings & equipment
25% straight line per annum
Computer equipment
4 - 6 years straight line per annum
Motor vehicles
25% diminishing balance per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Freehold land is not depreciated.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised.

METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the a valuation model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. The expense in relation to options that are settled in the parent company's equity are credited to a separate equity reserve representing a capital contribution.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Software and related sales
5,513,008
4,377,093
Services and consultancy
3,583,926
2,920,532
9,096,934
7,297,625
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
8,510,613
6,781,468
Europe
65,000
132,260
Rest of the world
521,321
383,897
9,096,934
7,297,625
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3
Turnover and other revenue
(Continued)
- 15 -
2025
2024
£
£
Other revenue
Interest income
190,666
97,623
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Exchange losses
2,532
23,997
Fees payable to the company's auditor for the audit of the company's financial statements
16,500
15,000
Depreciation of owned tangible fixed assets
143,747
153,153
Amortisation of intangible assets
39,975
39,849
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
8
8
Technical and administration
64
70
Total
72
78

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,635,889
3,385,756
Social security costs
426,472
414,725
Pension costs
211,464
162,434
4,273,825
3,962,915
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
862,971
591,913
Company pension contributions to defined contribution schemes
136,478
91,652
999,449
683,565
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Directors' remuneration
(Continued)
- 16 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
132,923
-
Company pension contributions to defined contribution schemes
2,688
-
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
190,088
71,085
Other interest income
578
26,538
Total income
190,666
97,623
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
270,614
-
0
Adjustments in respect of prior periods
(7,339)
89,342
Total UK current tax
263,275
89,342
Foreign current tax on profits for the current period
36,007
8,814
Total current tax
299,282
98,156
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
8
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
2,017,776
703,034
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 19.00%)
504,444
133,576
Tax effect of expenses that are not deductible in determining taxable profit
368
(1,281)
Tax effect of utilisation of tax losses not previously recognised
(248,841)
-
0
Permanent capital allowances in excess of depreciation
33,385
463
Depreciation on assets not qualifying for tax allowances
2,450
-
0
Share based payment charge
67,086
-
0
Under/(over) provided in prior years
-
0
89,342
Research and development claim
(106,803)
(129,029)
Foreign tax paid
36,007
8,814
Rounding
(1)
1
Research and development tax credit
(7,339)
(3,730)
Other timing differences
18,526
-
0
Taxation charge for the year
299,282
98,156
9
Dividends
2025
2024
£
£
Final paid
-
0
255,500
10
Intangible fixed assets
Software
£
Cost
At 1 April 2024 and 31 March 2025
185,927
Amortisation and impairment
At 1 April 2024
63,156
Amortisation charged for the year
39,975
At 31 March 2025
103,131
Carrying amount
At 31 March 2025
82,796
At 31 March 2024
122,771
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 18 -
11
Tangible fixed assets
Land and buildings freehold
Plant and equipment
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
979,880
103,781
349,381
1,065,257
15,260
2,513,559
Additions
-
0
-
0
-
0
34,709
-
0
34,709
At 31 March 2025
979,880
103,781
349,381
1,099,966
15,260
2,548,268
Depreciation and impairment
At 1 April 2024
78,391
7,420
281,750
762,345
10,511
1,140,417
Depreciation charged in the year
9,799
4,151
26,553
102,057
1,187
143,747
At 31 March 2025
88,190
11,571
308,303
864,402
11,698
1,284,164
Carrying amount
At 31 March 2025
891,690
92,210
41,078
235,564
3,562
1,264,104
At 31 March 2024
901,489
96,361
67,631
302,912
4,749
1,373,142
12
Stocks
2025
2024
£
£
Materials and consumables
2,500
5,884
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,670,137
2,251,378
Other debtors
799
799
Prepayments and accrued income
199,777
116,924
2,870,713
2,369,101
METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
14
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
215,811
163,064
Amounts owed to group undertakings
293,273
293,273
Corporation tax
270,614
-
0
Other taxation and social security
662,671
445,140
Other creditors
87,844
12,761
Accruals and deferred income
1,169,397
1,279,419
2,699,610
2,193,657
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
211,464
162,434

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share-based payment transactions

Share based payments are granted to the employees of this company but are settled by the parent company. An expense of £268,343 has been recognised in the financial statements and a corresponding capital contribution has been recognised in equity in respect of those options granted. These share-based payments were not previously recognised in the financial statements as the vesting conditions were not considered likely to be met.

The company has taken the exemption available under FRS 102 not to disclose the share-based payment arrangement relating to equity instruments of another group entity.

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000

The ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights, they do not confer any rights of redemption.

METRICELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
18
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
9,238
3,874
19
Ultimate controlling party

The parent company is Metricell Group Limited. Its registered office is The Big Blue, 26 Foundry Lane, Horsham, West Sussex, England, RH13 5PX.

Metricell Group Limited prepares consolidated financial statements, which are available from Companies House.

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