Keymat Technology Limited
Trading as Storm Interface
Annual Report and Financial Statements
For the year ended 31 March 2025
Pages for Filing with Registrar
Company Registration No. 01981733 (England and Wales)
Keymat Technology Limited
Trading as Storm Interface
Contents
Page
Directors' report
1 - 2
Balance sheet
3
Notes to the financial statements
4 - 11
Keymat Technology Limited
Trading as Storm Interface
Directors' Report
For the year ended 31 March 2025
Page 1

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

Principal activities

The principal activity of the company continues to be the design and manufacture of man/machine interfaces (eg keypads and keyboards) for use in ‘hostile’ environments including factories, quick service restaurants, airports and outdoor public places. New interface products providing Assistive Technology have been developed to aid those with disabilities to use touch screen kiosks/terminals. More recently there has been a requirement for kiosks to support a remote ‘concierge’ service either via a person or an avatar and we have developed products to support this application.

Our revenues to March 2025 have increased as both supply chain disruption and energy price inflation subsided. Our products are now widely deployed in North America in applications such as vending, airline check-in and electronic voting enabling Storm Interface to become a world leader in the supply of Assistive Technology interfaces. The EU legislation in June 2025 will create a demand for these products in Europe so we have enhanced our management team and technical staff in anticipation of further growth over the next two years and beyond.

The company remains well financed and equipped to take advantage of growth opportunities.

Directors

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

P.J. Ward
P.W. Jarvis
(Resigned 31 May 2024)
M Oakton
Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

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.

Principle risks and uncertainties

The directors consider the company’s principal risks and uncertainties to relate to supply chain disruption, cost inflation and fluctuations in customer demand. These risks are monitored on an ongoing basis and are managed through supplier diversification, forward planning and maintaining strong customer relationships.

Keymat Technology Limited
Trading as Storm Interface
Directors' Report (Continued)
For the year ended 31 March 2025
Page 2
Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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

On behalf of the board
P.J. Ward
Director
23 October 2025
Keymat Technology Limited
Trading as Storm Interface
Balance Sheet
As at 31 March 2025
31 March 2025
Page 3
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
30,675
45,684
Tangible assets
5
186,109
70,305
216,784
115,989
Current assets
Stock
1,069,707
708,756
Debtors
7
380,886
402,869
Investments
8
18,747
-
0
Cash at bank and in hand
2,637,759
5,760,638
4,107,099
6,872,263
Creditors: amounts falling due within one year
9
(1,300,565)
(1,023,430)
Net current assets
2,806,534
5,848,833
Total assets less current liabilities
3,023,318
5,964,822
Provisions for liabilities
10
(26,366)
(26,366)
Net assets
2,996,952
5,938,456
Capital and reserves
Called up share capital
11
38,676
38,676
Share premium account
551,352
551,352
Profit and loss reserves
2,406,924
5,348,428
Total equity
2,996,952
5,938,456

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 23 October 2025 and are signed on its behalf by:
P.J. Ward
Director
Company Registration No. 01981733
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements
For the year ended 31 March 2025
Page 4
1
Accounting policies
Company information

Keymat Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Waterside Court Waterside Drive, Langley, Slough, England, SL3 6EZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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 £.

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

1.2
Going concern

The financial statements are prepared on a going concern basis, which assumes the company will continue in operational existence for the foreseeable future. The directors have considered the company's historical and forecast performance, positive cashflows and lack of indebtedness. Future demand for the company's products remains strong and steps have been taken to mitigate the supply chain risks. The company has very strong cash reserves and based on projections is expected to be able to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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
25-33% on cost
Development Costs
5 years straight line
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 5
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:

Plant and machinery
20-25% on cost
Computer equipment
25-33% on cost
Motor vehicles
20-25% on cost
Improvements to property
20% on cost

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.

1.6
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stock

Stock 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 stock to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock 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.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 6
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 cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
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.

1.11
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. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 7
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

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

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange
Transactions denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the end of the financial year. All exchange differences are dealt with in the profit and loss account.
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 8
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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock Provision

The company makes estimates in respect of the level of provision required against stock for obsolete and slow-moving items. The provision is based on management’s assessment of expected future usage, product lifecycle, and estimated net realisable values. This assessment requires judgement, particularly in forecasting future demand, technology changes, and product discontinuations.

3
Employees

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

2025
2024
Number
Number
Total
33
28
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 9
4
Intangible fixed assets
Other
£
Cost
At 1 April 2024
194,458
Additions
1,550
Disposals
(485)
At 31 March 2025
195,523
Amortisation and impairment
At 1 April 2024
148,774
Amortisation charged for the year
16,268
Disposals
(194)
At 31 March 2025
164,848
Carrying amount
At 31 March 2025
30,675
At 31 March 2024
45,684
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
47,602
758,415
806,017
Additions
80,932
83,542
164,474
Disposals
(47,602)
(41,321)
(88,923)
At 31 March 2025
80,932
800,636
881,568
Depreciation and impairment
At 1 April 2024
47,602
688,110
735,712
Depreciation charged in the year
5,395
41,468
46,863
Eliminated in respect of disposals
(47,602)
(39,514)
(87,116)
At 31 March 2025
5,395
690,064
695,459
Carrying amount
At 31 March 2025
75,537
110,572
186,109
At 31 March 2024
-
0
70,305
70,305
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 10
6
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
18,747
-
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
160,008
117,514
Other debtors
71,562
97,973
Prepayments and accrued income
149,316
187,382
380,886
402,869
8
Current asset investments
2025
2024
£
£
Other investments
18,747
-
0
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
186,989
149,103
Corporation tax
305,590
215,998
Other taxation and social security
40,420
31,098
Other creditors
325,032
321,909
Accruals and deferred income
442,534
305,322
1,300,565
1,023,430
10
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
26,366
26,366
Keymat Technology Limited
Trading as Storm Interface
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 11
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
38,676
38,676
38,676
38,676
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Ian Matthews
Statutory Auditor:
Moore Kingston Smith LLP
13
Operating lease commitments
Lessee

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

2025
2024
Land and buildings
£
£
Within one year
68,648
129,197
Between two and five years
163,252
364,167
Total
231,900
493,364
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