REGISTERED NUMBER: 12498382 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Obelix Systems Limited

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M V Usen

REGISTERED OFFICE:

Unit 20 Orchard Industrial Estate

Toddington

Cheltenham

Gloucestershire

GL54 5EB

REGISTERED NUMBER:

12498382 (England and Wales)

ACCOUNTANTS:

ADM Accountancy Services Ltd

Homelands Commercial Centre

Vale Road

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 8PX

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing security solutions for the cash and high value items industry.

REVIEW OF BUSINESS

Overview of Performance and Review of the Year

During the fifth year of trading, the company maintained a strong sales order book, supported by continued growth in both customer numbers and product range.

To align with trends in target markets, the company sustained its enhanced focus on product development. As part of its commitment to sustainability, these initiatives include the installation of solar charging and an increase in electric vehicles.

Turnover decreased as anticipated, falling by £644k from the previous year to £4.9m. Pre-tax profit was £177k, broadly in line with forecast. Given the expected reduction in turnover and ongoing inflationary pressures, costs were carefully managed through the year. Gross margin eased slightly, moving from 41% to 39%.

The company maintained its resource during the year with full time staff settled at 39, compared to the previous year's number of 43. The business model allows the number of staff to flex upwards and downwards in line with demand.

Stock continued to be purchased in advance to assist with planning and execution, due to the increased demand, and as a result, stock and Work in Progress remained at a relatively high level at the year end.

Order Book

The order book at the end of the financial year continues to demonstrate a healthy position of the business and provides confidence in the strategy.

Looking Forward

Obelix Systems Limited continues with its aim of keeping the business as lean as possible and achieving the goal to make operational improvements and product development initiatives. The company strives to deliver quality and innovative products that enhance our customers' activities.

DIRECTOR

M V Usen held office during the whole of the period from 1 April 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M V Usen - Director

28 November 2025

FIXED ASSETS

Intangible assets

4

11,250

13,500

Tangible assets

5

2,386

8,975

13,636

22,475

CURRENT ASSETS

Stocks

1,147,750

1,285,661

Debtors

6

189,183

187,075

Prepayments and accrued income

16,815

-

Cash at bank

146,281

275,931

1,500,029

1,748,667

CREDITORS

Amounts falling due within one year

7

1,258,188

1,647,295

NET CURRENT ASSETS

241,841

101,372

TOTAL ASSETS LESS CURRENT LIABILITIES

255,477

123,847

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

255,476

123,846

255,477

123,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 November 2025 and were signed by:

M V Usen - Director

1.	STATUTORY INFORMATION

Obelix Systems 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.

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, 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 2020, is being amortised evenly over its estimated useful life of ten 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.

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

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.

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 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 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.

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 44 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

22,500

AMORTISATION

At 1 April 2024

9,000

Charge for year

2,250

At 31 March 2025

11,250

NET BOOK VALUE

At 31 March 2025

11,250

At 31 March 2024

13,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

59,600

DEPRECIATION

At 1 April 2024

50,625

Charge for year

6,589

At 31 March 2025

57,214

NET BOOK VALUE

At 31 March 2025

2,386

At 31 March 2024

8,975

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

66,675

46,766

Other debtors

122,508

140,309

189,183

187,075

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

464,909

437,439

Taxation and social security

89,521

97,765

Other creditors

703,758

1,112,091

1,258,188

1,647,295

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

M V Usen

Balance outstanding at start of year

(139

)

56,628

Amounts advanced

-

119,077

Amounts repaid

(312

)

(175,844

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(451

)

(139

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M V Usen.