Registration number: 00477701

Todd Research Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 9

Todd Research Limited

(Registration number: 00477701)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	51,052	55,464
Tangible assets	5	58,179	40,928
		109,231	96,392
Current assets
Stocks	6	873,845	293,195
Debtors	7	1,617,059	1,734,944
Cash at bank and in hand		914,570	886,892
		3,405,474	2,915,031
Creditors: Amounts falling due within one year	8	(1,448,800)	(867,112)
Net current assets		1,956,674	2,047,919
Total assets less current liabilities		2,065,905	2,144,311
Creditors: Amounts falling due after more than one year	8	(60,357)	(183,940)
Provisions for liabilities		(27,308)	(24,098)
Net assets		1,978,240	1,936,273
Capital and reserves
Called up share capital		13,500	13,500
Retained earnings		1,964,740	1,922,773
Shareholders' funds		1,978,240	1,936,273

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 December 2025 and signed on its behalf by:
 

......................................... M Boshell Director

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9C Trafalgar Way
Bar Hill
Cambridge
Cambridgeshire
CB23 8SQ
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling (£) and rounded to the nearest pound.

Summary of disclosure exemptions

The company is exempt from preparing a Statement of Cashflows as it is small.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 17 December 2025 was Caroline Webster FCA, who signed for and on behalf of UHY Ross Brooke.

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Revenue recognition

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.

Revenue from contracts for the provision of maintenance services is recognised on a straight line over the term of the contract.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset
received or receivable. Grants relating to revenue are recognised in income over the period in which the
related costs are recognised.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Between 2 and 5 years straight line

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and accumulated impairment losses.

The cost of an intangible asset includes all directly attributable costs necessary to prepare the asset for its intended use.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Research and development costs	5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 14).

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Research & development costs  £	Total £
Cost or valuation
At 1 April 2024	73,952	73,952
Additions	12,973	12,973
At 31 March 2025	86,925	86,925
Amortisation
At 1 April 2024	18,488	18,488
Amortisation charge	17,385	17,385
At 31 March 2025	35,873	35,873
Carrying amount
At 31 March 2025	51,052	51,052
At 31 March 2024	55,464	55,464

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	103,273	103,273
Additions	36,288	36,288
At 31 March 2025	139,561	139,561
Depreciation
At 1 April 2024	62,345	62,345
Charge for the year	19,037	19,037
At 31 March 2025	81,382	81,382
Carrying amount
At 31 March 2025	58,179	58,179
At 31 March 2024	40,928	40,928

6

Stocks

	2025 £	2024 £
Other inventories	873,845	293,195

7

Debtors

Current	2025 £	2024 £
Trade debtors	271,294	433,064
Amounts owed by related parties	1,255,049	1,192,123
Prepayments	39,524	41,552
Other debtors	51,192	68,205
	1,617,059	1,734,944

Todd Research Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	50,000	50,000
Trade creditors		113,172	30,349
Taxation and social security		147,820	133,668
Other creditors		1,137,808	653,095
		1,448,800	867,112