Company No: 08969096 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	28,842		44,107
Tangible assets	4	12,004		15,777
		40,846		59,884
Current assets
Stocks		17,527		13,103
Debtors	5	0		10,879
Cash at bank and in hand		525		11,958
		18,052		35,940
Creditors: amounts falling due within one year	6	( 25,808)		( 21,478)
Net current (liabilities)/assets		(7,756)		14,462
Total assets less current liabilities		33,090		74,346
Net assets		33,090		74,346
Capital and reserves
Called-up share capital		1,000		1,000
Profit and loss account		32,090		73,346
Total shareholders' funds		33,090		74,346

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Loqski International Limited (registered number: 08969096) were approved and authorised for issue by the Board of Directors on 04 December 2025. They were signed on its behalf by:

J L Pittard Director

J R Pittard Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Loqski International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, 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 as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	10 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	678,550		678,550
Additions	2,757		2,757
At 31 March 2025	681,307		681,307
Accumulated amortisation
At 01 April 2024	634,443		634,443
Charge for the financial year	18,022		18,022
At 31 March 2025	652,465		652,465
Net book value
At 31 March 2025	28,842		28,842
At 31 March 2024	44,107		44,107

4. Tangible assets

	Plant and machinery		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	133,443		3,172		136,615
Additions	0		374		374
At 31 March 2025	133,443		3,546		136,989
Accumulated depreciation
At 01 April 2024	119,620		1,218		120,838
Charge for the financial year	3,016		1,131		4,147
At 31 March 2025	122,636		2,349		124,985
Net book value
At 31 March 2025	10,807		1,197		12,004
At 31 March 2024	13,823		1,954		15,777

5. Debtors

	2025		2024
	£		£
Other debtors	0		10,879

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	453		19,325
Other taxation and social security	208		0
Other creditors	25,147		2,153
	25,808		21,478

7. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2024, the balance owed to the director was £ 6,360. During the year, £12,420 was advanced to the director, and £18,780 was repaid by the director. At 31 March 2025, the balance owed by the director was £nil.

At 1 April 2023, the balance owed to the director was £10,174. During the year, £57,638 was advanced to the director, and £41,104 was repaid by the director. At 31 March 2024, the balance owed by the director was £6,360.