4GD Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

4GD Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10265296 . The registered office is 2 Hedley Court, Putney Hill, London, SW15 3NS.

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 financial statements have been prepared on a going concern basis as the directors believe adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

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

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

• the Company has transferred the significant risks and rewards of ownership to the buyer;

• the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the transaction; and

• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the contract;

• the stage of completion of the contract at the end of the reporting period can be measured reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to on a straight line basis over their expected useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure - 5 years

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

• It is technically feasible to complete the intangible asset so that it will be available for use or sale.

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. 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% reducing balance
Computer Equipment	25% reducing balance

2.7. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

4. Intangible Assets

	Patents	Development Costs	Trademarks	Total
	£	£	£	£
Cost
As at 1 April 2024	118,803	1,315,967	2,592	1,437,362
Additions	9,577	254,487	-	264,064

As at 31 March 2025	128,380	1,570,454	2,592	1,701,426

...CONTINUED

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Amortisation
As at 1 April 2024	8,975	475,518	1,329	485,822
Provided during the period	6,940	287,630	518	295,088

As at 31 March 2025	15,915	763,148	1,847	780,910

Net Book Value
As at 31 March 2025	112,465	807,306	745	920,516

As at 1 April 2024	109,828	840,449	1,263	951,540

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	29,785	39,338	69,123
Additions	-	2,670	2,670

As at 31 March 2025	29,785	42,008	71,793

Depreciation
As at 1 April 2024	18,014	26,613	44,627
Provided during the period	2,943	3,459	6,402

As at 31 March 2025	20,957	30,072	51,029

Net Book Value
As at 31 March 2025	8,828	11,936	20,764

As at 1 April 2024	11,771	12,725	24,496

6. Stocks

	2025	2024
	£	£
Stock	860,690	209,167

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,220,510	24,990
Other debtors	119,169	173,925

	1,339,679	198,915

Included in Other Debtors is corporation tax repayable for 2025 of £40,000 (2024 £70,000 - although final receipt was £44,712)

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	436,802	230,579
Bank loans and overdrafts	11,251	11,251
Other loans	1,593,604	1,832,974
Other creditors	2,683,867	463,277
Taxation and social security	168,750	-

	4,894,274	2,538,081

Bank loans includes a Government Bounce Back Loan of £11,251 borrowed in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum.

Other loans includes US denomincated loans of $2m. One is a loan of $1m borrowed from Mountain Horse Inc. in July 2022. This loan has been re-extended and interest is fixed at 10% per annum. There is a similar loan with Kempa for $1m which has also had its repayment extended. Other loans (Machson) from 2024 have been repaid.

Other creditors had a loan in 2024 from the director, Angus McCaffery, of £242,000 with interest at 2.5% per month . This was repaid in the year. Deferred income is included in other creditors. As at 31 March 2025 this was £2,559,572 (2024: £183,997)

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	7,501	18,752

The company borrowed £50,000 as part of the Government’s Bounce Back Loan (BBL) scheme in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum.

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	1,942	1,942

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	12,780	12,780

25,559 (2022 - 25,559) Ordinary shares of £0.50 each

12. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Related Party Transactions

There were no related party transactions at the end of the year. (2024: Angus McCaffery £242,000)

At the 31st March 2025 there were no charges over the assets of the company in favour of Angus McCaffery, a director of the company, as these had been released in the year.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		920,516		951,540
Tangible Assets	5		20,764		24,496

			941,280		976,036
CURRENT ASSETS
Stocks	6	860,690		209,167
Debtors	7	1,339,679		198,915
Cash at bank and in hand		484,669		43,883

		2,685,038		451,965
Creditors: Amounts Falling Due Within One Year	8	(4,894,274 )		(2,538,081 )

NET CURRENT ASSETS (LIABILITIES)			(2,209,236 )		(2,086,116 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,267,956 )		(1,110,080 )

Creditors: Amounts Falling Due After More Than One Year	9		(7,501 )		(18,752 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(1,942 )		(1,942 )

NET LIABILITIES			(1,277,399 )		(1,130,774 )

CAPITAL AND RESERVES
Called up share capital	11		12,780		12,780
Share premium account			657,898		657,898
Profit and Loss Account			(1,948,077 )		(1,801,452 )

SHAREHOLDERS' FUNDS			(1,277,399)		(1,130,774)