Exotopic Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09238982

		31 January 2025		31 January 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		41,589		22,050

			41,589		22,050
CURRENT ASSETS
Debtors	5	692,638		330,748
Cash at bank and in hand		212,576		281,858

		905,214		612,606
Creditors: Amounts Falling Due Within One Year	6	(476,816 )		(197,608 )

NET CURRENT ASSETS (LIABILITIES)			428,398		414,998

TOTAL ASSETS LESS CURRENT LIABILITIES			469,987		437,048

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,955 )		(4,046 )

NET ASSETS			462,032		433,002

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			462,031		433,001

SHAREHOLDERS' FUNDS			462,032		433,002

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Exotopic Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Andrew Grey

Director

09/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Exotopic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09238982 . The registered office is 2nd Floor British Interplanetary Society, 27/29 South Lambeth Road, London, England, SW8 1SZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Straight Line
Computer Equipment	25% Straight Line

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Exotopic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2024: 12)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 February 2024	50,501
Additions	32,443

As at 31 January 2025	82,944

Depreciation
As at 1 February 2024	28,451
Provided during the period	12,904

As at 31 January 2025	41,355

Net Book Value
As at 31 January 2025	41,589

As at 1 February 2024	22,050

5. Debtors

	31 January 2025	31 January 2024
	£	£
Due within one year
Trade debtors	268,059	201,419
Other debtors	424,579	129,329

	692,638	330,748

6. Creditors: Amounts Falling Due Within One Year

	31 January 2025	31 January 2024
	£	£
Trade creditors	38,886	58,182
Other creditors	327,093	10,371
Taxation and social security	110,837	129,055

	476,816	197,608

7. Share Capital

	31 January 2025	31 January 2024
	£	£
Allotted, Called up and fully paid	1	1

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Exotopic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Related Party Transactions

Included within other debtors are the following balances:

- £122,252 (2024: £51,989) due from Altarange Limited, a company under common ownership and directorship. In addition, Exotopic Limited paid for services totalling £22,589 to this company during the year, on an arm’s length basis.

- £3,031 (2024: £nil) due from Discover Space UK Ltd, a company under common ownership and directorship.

- £27,571 (2024: £nil) due from Exotopic Pty Ltd, a foreign entity connected to the director, A Grey.

Exotopic Limited also received income of £73,361 from Nascent Semiconductor Limited during the year, a company under common ownership and directorship. These transactions were conducted on an arm’s length basis.

All balances are unsecured, interest-free, and repayable on demand.

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