Phuse Technology Limited Company accounts

COMPANY REGISTRATION NUMBER: 06555701

Phuse Technology Limited

Unaudited Financial Statements

31 March 2025

Phuse Technology Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

Phuse Technology Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

B Adams
H Adams
J Taylor

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 9 October 2025 and signed on behalf of the board by:

B Adams	Helen Adams
Director	Company Secretary

Registered office:

2 Brookfield Lane,

Aughton

Ormskirk

England

L39 6SP

Phuse Technology Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	3,778,042	2,490,680

Cost of sales	1,865,979	1,872,480
	------------	------------
Gross profit	1,912,063	618,200

Administrative expenses	1,924,763	1,273,421
Exceptional item -Non recurring restructure costs Note 5	851,789	–
	------------	------------
Operating loss	( 864,489)	( 655,221)

Other interest receivable and similar income		8,584	9,592
Interest payable and similar expenses		899	–
		------------	------------
Loss before taxation	6	( 856,804)	( 645,629)

Tax on loss	–	( 84,892)
	---------	---------
Loss for the financial year and total comprehensive income	( 856,804)	( 560,737)
	---------	---------

Retained earnings at the start of the year	273,100	833,837
	---------	---------
Retained (losses)/earnings at the end of the year	( 583,704)	273,100
	---------	---------

All the activities of the company are from continuing operations.

Phuse Technology Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	7		22,157	–

Current assets

Debtors	8	666,729	1,437,487
Cash at bank and in hand		464,055	538,351
		------------	------------
		1,130,784	1,975,838

Creditors: amounts falling due within one year	9	1,736,644		1,702,737
		------------		------------
Net current (liabilities)/assets			( 605,860)	273,101
			---------	---------
Total assets less current liabilities			( 583,703)	273,101
			---------	---------
Net (liabilities)/assets			( 583,703)	273,101
			---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 583,704)	273,100
	---------	---------
Shareholders (deficit)/funds	( 583,703)	273,101
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 October 2025 , and are signed on behalf of the board by:

B Adams
Director

Company registration number: 06555701

Phuse Technology Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Brookfield Lane,, Aughton, Ormskirk, L39 6SP, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 29 (2024: 30 ).

5. Exceptional items

	2025	2024
	£	£
Exceptional item 1	851,789	–
	---------	----

An exceptional non-recurring loss of £851,789 was incurred from intercompany balances written off from a group restructure. The actions taken reflected the decision to prioritise scalable, technology-led services with higher long-term growth potential and improved operational efficiency. This one-off adjustment has been presented as an exceptional item in the profit and loss statement to ensure transparency and provide investors with a clear view of underlying trading performance. Although the FY2024-2025 balance sheet reflects the short-term impact of the exceptional restructuring item, the Group's financial position is recovering strongly. This strategic event has simplified the organisation, reduced administrative complexity, and improved the predictability of future cash flows. With a growing base of recurring revenue, improved profitability, and strong cash generation, the Company is well placed to rebuild balance sheet strength over the next financial year. Management anticipates continued improvement in key financial metrics, reflecting both operational performance and the lasting benefits of the restructure. The Board remains confident that the decisive actions taken during FY2024-2025 have created a more agile, resilient, and growth-focused business. The Company is now positioned to deliver sustainable revenue expansion, strong cash generation, and enhanced shareholder value - providing a solid foundation for long-term investor confidence.

6. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	2,508	–
	-------	----

7. Tangible assets

	Motor vehicles	Computer Software	Total
	£	£	£
Cost
At 1 April 2024	–	–	–
Additions	6,185	18,480	24,665
	-------	--------	--------
At 31 March 2025	6,185	18,480	24,665
	-------	--------	--------
Depreciation
At 1 April 2024	–	–	–
Charge for the year	1,185	1,323	2,508
	-------	--------	--------
At 31 March 2025	1,185	1,323	2,508
	-------	--------	--------
Carrying amount
At 31 March 2025	5,000	17,157	22,157
	-------	--------	--------
At 31 March 2024	–	–	–
	-------	--------	--------

8. Debtors

	2025	2024
	£	£
Trade debtors	197,517	123,525
Amounts owed by group undertakings and undertakings in which the company has a participating interest	61,366	973,724
Other debtors	407,846	340,238
	---------	------------
	666,729	1,437,487
	---------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	97,608	83,616
Amounts owed to group undertakings and undertakings in which the company has a participating interest	27,789	205,560
Social security and other taxes	49,538	32,559
Other creditors	1,561,709	1,381,002
	------------	------------
	1,736,644	1,702,737
	------------	------------