REGISTERED NUMBER: SC341090 (Scotland)

TRANSCRIBE UK LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A Galloway

B Galloway

SECRETARY:

A Galloway

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

G3 7SL

REGISTERED NUMBER:

SC341090 (Scotland)

ACCOUNTANTS:

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Transcribe UK Ltd. for the year ended 31st March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Transcribe UK Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Transcribe UK Ltd. and state those matters that we have agreed to state to the Board of Directors of Transcribe UK Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Transcribe UK Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Transcribe UK Ltd.. You consider that Transcribe UK Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Transcribe UK Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

russell + russell

Chartered Certified Accountants

4 Royal Crescent

Glasgow

G3 7SL

5th December 2025

FIXED ASSETS

Intangible assets

4

45,072

21,870

Tangible assets

5

1,350

1,673

46,422

23,543

CURRENT ASSETS

Debtors

6

14,642

20,655

Cash at bank and in hand

13,836

14,052

28,478

34,707

CREDITORS

Amounts falling due within one year

7

47,723

33,158

NET CURRENT (LIABILITIES)/ASSETS

(19,245

)

1,549

TOTAL ASSETS LESS CURRENT LIABILITIES

27,177

25,092

CREDITORS

Amounts falling due after more than one year

8

(833

)

(5,833

)

PROVISIONS FOR LIABILITIES

(11,268

)

(4,473

)

NET ASSETS

15,076

14,786

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

15,074

14,784

SHAREHOLDERS' FUNDS

15,076

14,786

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 5th December 2025 and were signed on its behalf by:

A Galloway - Director

1.	STATUTORY INFORMATION

Transcribe UK Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going concern

The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to operate for the foreseeable future.

Turnover

The turnover shown in the profit and loss account represents the sales value of transcription and audio services during the year, exclusive of Value Added Tax.

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.

Management Software are being amortised evenly over their estimated useful life of three years.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Computer equipment

-

33% straight line

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised and measured at cost less any accumulated amortisation and any accumulated impairment losses. The assets are amortised evenly over the period during which the company is expected to benefit.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited against intangible fixed assets over the estimated useful life of the assets to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Management

Development

Computer

Software

costs

software

Totals

£

£

£

£

COST

At 1st April 2024

31,693

50,508

6,805

89,006

Additions

-

34,613

-

34,613

At 31st March 2025

31,693

85,121

6,805

123,619

AMORTISATION

At 1st April 2024

31,693

28,638

6,805

67,136

Amortisation for year

-

11,411

-

11,411

At 31st March 2025

31,693

40,049

6,805

78,547

NET BOOK VALUE

At 31st March 2025

-

45,072

-

45,072

At 31st March 2024

-

21,870

-

21,870

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2024

11,081

Additions

762

Disposals

(2,158

)

At 31st March 2025

9,685

DEPRECIATION

At 1st April 2024

9,408

Charge for year

1,085

Eliminated on disposal

(2,158

)

At 31st March 2025

8,335

NET BOOK VALUE

At 31st March 2025

1,350

At 31st March 2024

1,673

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

8,825

14,904

Accrued income

4,120

3,040

Other debtors

1,697

2,711

14,642

20,655

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 9)

5,000

5,000

Payments on account

-

490

Trade creditors

323

81

Taxation and social security

11,107

11,793

Other creditors

31,293

15,794

47,723

33,158

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 9)

833

5,833

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans

5,000

5,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

833

5,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

833

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary Shares

£1

2

2

11.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the year.