IRIS Accounts Production v25.4.0.155 SC493988 Board of Directors 1.5.24 30.4.25 30.4.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC493988 2024-04-30 SC493988 2025-04-30 SC493988 2024-05-01 2025-04-30 SC493988 2023-04-30 SC493988 2023-05-01 2024-04-30 SC493988 2024-04-30 SC493988 ns15:Scotland 2024-05-01 2025-04-30 SC493988 ns14:PoundSterling 2024-05-01 2025-04-30 SC493988 ns10:Director1 2024-05-01 2025-04-30 SC493988 ns10:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 SC493988 ns10:SmallEntities 2024-05-01 2025-04-30 SC493988 ns10:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 SC493988 ns10:SmallCompaniesRegimeForDirectorsReport 2024-05-01 2025-04-30 SC493988 ns10:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 SC493988 ns10:FullAccounts 2024-05-01 2025-04-30 SC493988 1 2024-05-01 2025-04-30 SC493988 ns10:Director2 2024-05-01 2025-04-30 SC493988 ns10:Director3 2024-05-01 2025-04-30 SC493988 ns10:Director4 2024-05-01 2025-04-30 SC493988 ns10:RegisteredOffice 2024-05-01 2025-04-30 SC493988 ns5:CurrentFinancialInstruments 2025-04-30 SC493988 ns5:CurrentFinancialInstruments 2024-04-30 SC493988 ns5:Non-currentFinancialInstruments 2025-04-30 SC493988 ns5:Non-currentFinancialInstruments 2024-04-30 SC493988 ns5:ShareCapital 2025-04-30 SC493988 ns5:ShareCapital 2024-04-30 SC493988 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-04-30 SC493988 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-04-30 SC493988 ns5:FurtherSpecificReserve2ComponentTotalEquity 2025-04-30 SC493988 ns5:FurtherSpecificReserve2ComponentTotalEquity 2024-04-30 SC493988 ns5:RetainedEarningsAccumulatedLosses 2025-04-30 SC493988 ns5:RetainedEarningsAccumulatedLosses 2024-04-30 SC493988 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-01 2025-04-30 SC493988 ns5:LandBuildings ns5:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 SC493988 ns5:LeaseholdImprovements 2024-05-01 2025-04-30 SC493988 ns5:PlantMachinery 2024-05-01 2025-04-30 SC493988 ns5:FurnitureFittings 2024-05-01 2025-04-30 SC493988 ns5:MotorVehicles 2024-05-01 2025-04-30 SC493988 ns5:ComputerEquipment 2024-05-01 2025-04-30 SC493988 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 SC493988 ns5:ComputerSoftware 2024-04-30 SC493988 ns5:ComputerSoftware 2024-05-01 2025-04-30 SC493988 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-04-30 SC493988 ns5:ComputerSoftware 2025-04-30 SC493988 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 SC493988 ns5:ComputerSoftware 2024-04-30 SC493988 ns5:LandBuildings 2024-04-30 SC493988 ns5:LeaseholdImprovements 2024-04-30 SC493988 ns5:PlantMachinery 2024-04-30 SC493988 ns5:LandBuildings 2024-05-01 2025-04-30 SC493988 ns5:LandBuildings 2025-04-30 SC493988 ns5:LeaseholdImprovements 2025-04-30 SC493988 ns5:PlantMachinery 2025-04-30 SC493988 ns5:LandBuildings 2024-04-30 SC493988 ns5:LeaseholdImprovements 2024-04-30 SC493988 ns5:PlantMachinery 2024-04-30 SC493988 ns5:FurnitureFittings 2024-04-30 SC493988 ns5:MotorVehicles 2024-04-30 SC493988 ns5:ComputerEquipment 2024-04-30 SC493988 ns5:FurnitureFittings 2025-04-30 SC493988 ns5:MotorVehicles 2025-04-30 SC493988 ns5:ComputerEquipment 2025-04-30 SC493988 ns5:FurnitureFittings 2024-04-30 SC493988 ns5:MotorVehicles 2024-04-30 SC493988 ns5:ComputerEquipment 2024-04-30 SC493988 ns5:CostValuation 2024-04-30 SC493988 ns5:AdditionsToInvestments 2025-04-30 SC493988 ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2025-04-30 SC493988 ns5:CostValuation 2025-04-30 SC493988 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-04-30 SC493988 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-04-30 SC493988 ns5:WithinOneYear 2025-04-30 SC493988 ns5:WithinOneYear 2024-04-30 SC493988 ns5:BetweenOneFiveYears 2025-04-30 SC493988 ns5:BetweenOneFiveYears 2024-04-30 SC493988 ns5:AllPeriods 2025-04-30 SC493988 ns5:AllPeriods 2024-04-30 SC493988 ns5:Secured 2025-04-30 SC493988 ns5:Secured 2024-04-30 SC493988 ns5:DeferredTaxation 2024-04-30 SC493988 ns5:DeferredTaxation 2024-05-01 2025-04-30 SC493988 ns5:DeferredTaxation 2025-04-30

REGISTERED NUMBER: SC493988 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 APRIL 2025 |

| FOR |

| FLEXMEDICAL SOLUTIONS |

| LIMITED |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 30 April 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

FLEXMEDICAL SOLUTIONS

LIMITED

COMPANY INFORMATION

for the year ended 30 April 2025

| DIRECTORS: | Mr K Fallon

| Mr M Whyte

| Mr G J Baird

| Mr D D Fitzgerald

| REGISTERED OFFICE: | Unit 12-13 Eliburn Industrial Park

| Eliburn

| Livingston

| West Lothian

| EH54 6GQ

| REGISTERED NUMBER: | SC493988 (Scotland)

| ACCOUNTANTS: | S&W Partners (Scotland) Limited

| Wallace House

| Maxwell Place

| Stirling

| FK8 1JU

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

BALANCE SHEET

30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 189,028 |  | 19,682 |  |

Tangible assets | 5 | 1,469,589 |  | 1,486,082 |  |

Investments | 6 | 52,958 |  | 90,150 |  |

1,711,575 |  | 1,595,914 |  |

CURRENT ASSETS

Stocks | 7 | 88,071 |  | 86,412 |  |

Debtors | 8 | 1,073,297 |  | 831,128 |  |

Cash at bank | 1,649,282 |  | 2,338,657 |  |

2,810,650 |  | 3,256,197 |  |

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 9 | (737,981 | ) | (457,627 | ) |

NET CURRENT ASSETS | 2,072,669 |  | 2,798,570 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,784,244 |  | 4,394,484 |  |

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | 10 | (12,213 | ) | (98,308 | ) |

PROVISIONS FOR LIABILITIES | 13 | (128,906 | ) | (240,860 | ) |

NET ASSETS | 3,643,125 |  | 4,055,316 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Fair value reserves | - |  | 16,253 |  |

Share option reserve | 74,060 |  | - |  |

Retained earnings | 3,568,965 |  | 4,038,963 |  |

SHAREHOLDERS' FUNDS | 3,643,125 |  | 4,055,316 |  |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

BALANCE SHEET - continued

30 April 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 15 January 2026 and were signed on its behalf by:

Mr K Fallon - Director

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 30 April 2025

1. | STATUTORY INFORMATION

| Flexmedical Solutions Limited 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 as modified by the revaluation of certain assets.

| TURNOVER

| Revenue from development contracts is recognised to reflect the economic substance of the transaction and the transfer of services and value to the customer over the term of the contract. Revenue is recognized as the services are provided, and costs are incurred, reflecting the performance delivered in each billing period.

| 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 goods but determined by the facts of each order); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the buyer; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

| Revenue from transactions where the company is acting as an agent, arranging for the transfer of goods or services to the customer, is recognised on a net commission or net fee earned on the sale basis, rather than the gross sales amount

| INTANGIBLE ASSETS

| Intangible assets costs, including development costs and software implementation, have been capitalised. The assets are being amortised over the expected useful life of five years.

| Development costs are capitalised in the year while any research costs are written off to profit and loss.

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Heritable property | - | 15% per annum reducing balance and 2% per annum on cost

| Tenant improvements | - | 10% per annum on cost

| Plant and machinery | - | 14 - 20 % per annum on cost

| Fixtures and fittings | - | 25% per annum on cost

| Motor vehicles | - | 20% per annum reducing balance

| Computer equipment | - | 20% per annum on cost

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

| FIXED ASSET INVESTMENT

| The fixed asset investment is initially recognised at cost and revalued to fair value at the balance sheet date.

| STOCKS

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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 and loans to related parties.

| Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| 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. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| The company accounts for Research and Development (R&D) tax credits in accordance with UK Generally Accepted Accounting Principles (UK GAAP). R&D tax credits are recognised when there is reasonable assurance that the company will be entitled to the credit and the amount can be reliably measured. The R&D tax credit is presented in the income statement as a reduction in the income tax expense or as other income, depending on the treatment of the credit.

| 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.

| HIRE PURCHASE AND LEASING COMMITMENTS

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| SHARE-BASED PAYMENTS

| Where share options are awarded to employees, the fair value of the options at the grant date is charged to profit and loss in year of issue, as no vesting period applies. The credit entry is recorded in a share options reserve within equity.

| Where the terms and conditions of options are modified before the options are exercised, the increase in the fair value of the options is also charged to profit and loss.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 42 (2024 - 51 ) .

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

4. | INTANGIBLE FIXED ASSETS

| Development |  | Software |

| costs |  | implementation |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 135,738 |  | 22,050 |  | 157,788 |  |

| Additions | 158,365 |  | 19,215 |  | 177,580 |  |

| At 30 April 2025 | 294,103 |  | 41,265 |  | 335,368 |  |

| AMORTISATION

| At 1 May 2024 | 135,738 |  | 2,368 |  | 138,106 |  |

| Amortisation for year | 2,864 |  | 5,370 |  | 8,234 |  |

| At 30 April 2025 | 138,602 |  | 7,738 |  | 146,340 |  |

| NET BOOK VALUE

| At 30 April 2025 | 155,501 |  | 33,527 |  | 189,028 |  |

| At 30 April 2024 | - |  | 19,682 |  | 19,682 |  |

| Intangible fixed assets with a carrying value of £189,028 (2024: £19,682) are pledged as security for the company's debt.

5. | TANGIBLE FIXED ASSETS

| Heritable |  | Tenant |  | Plant and

| property |  | improvements |  | machinery

£ | £ | £ |

| COST

| At 1 May 2024 | 430,824 |  | 348,825 |  | 1,426,099 |  |

| Additions | 19,588 |  | 13,222 |  | 267,164 |  |

| Disposals | (16,875 | ) | (10,195 | ) | (4,353 | ) |

| At 30 April 2025 | 433,537 |  | 351,852 |  | 1,688,910 |  |

| DEPRECIATION

| At 1 May 2024 | 45,163 |  | 166,832 |  | 625,040 |  |

| Charge for year | 12,425 |  | 32,469 |  | 189,107 |  |

| Eliminated on disposal | (7,481 | ) | (2,378 | ) | (3,299 | ) |

| At 30 April 2025 | 50,107 |  | 196,923 |  | 810,848 |  |

| NET BOOK VALUE

| At 30 April 2025 | 383,430 |  | 154,929 |  | 878,062 |  |

| At 30 April 2024 | 385,661 |  | 181,993 |  | 801,059 |  |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 May 2024 | 183,921 |  | 15,247 |  | 103,832 |  | 2,508,748 |  |

| Additions | - |  | - |  | 1,775 |  | 301,749 |  |

| Disposals | (5,790 | ) | - |  | (38,801 | ) | (76,014 | ) |

| At 30 April 2025 | 178,131 |  | 15,247 |  | 66,806 |  | 2,734,483 |  |

| DEPRECIATION

| At 1 May 2024 | 115,545 |  | 8,192 |  | 61,894 |  | 1,022,666 |  |

| Charge for year | 42,117 |  | 1,411 |  | 13,660 |  | 291,189 |  |

| Eliminated on disposal | (4,672 | ) | - |  | (31,131 | ) | (48,961 | ) |

| At 30 April 2025 | 152,990 |  | 9,603 |  | 44,423 |  | 1,264,894 |  |

| NET BOOK VALUE

| At 30 April 2025 | 25,141 |  | 5,644 |  | 22,383 |  | 1,469,589 |  |

| At 30 April 2024 | 68,376 |  | 7,055 |  | 41,938 |  | 1,486,082 |  |

| Tangible fixed assets with a carrying value of £1,469,589 (2024: £1,486,082) are pledged as security for the company's debt.

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 May 2024 | 90,150 |  |

| Additions | 53,464 |  |

| Impairments | (90,656 | ) |

| At 30 April 2025 | 52,958 |  |

| NET BOOK VALUE

| At 30 April 2025 | 52,958 |  |

| At 30 April 2024 | 90,150 |  |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

6. | FIXED ASSET INVESTMENTS - continued

| Cost or valuation at 30 April 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2024 | 21,670 |  |

| Valuation in 2025 | (90,655 | ) |

| Cost | 121,943 |  |

52,958 |  |

| If the fixed asset investment had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 121,943 |  | 68,480 |  |

| Fixed asset investments were valued on an open market basis on 30 April 2025 by the directors .

| Fixed asset investments with a carrying value of £52,958 (2024: £90,150) are pledged as security for the company's debt.

7. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials and consumables | 88,071 |  | 86,412 |  |

| Stocks with a carrying value of £88,071 (2024: £86,412) are pledged as security for the company's debt.

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 193,652 |  | 445,800 |  |

| Other debtors | 879,645 |  | 385,328 |  |

1,073,297 |  | 831,128 |  |

| Debtors with a carrying value of £1,073,297 (2024: £831,128) are pledged as security for the company's debt.

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 80,356 |  | 26,786 |  |

| Trade creditors | 164,011 |  | 215,118 |  |

| Taxation and social security | 94,041 |  | 84,864 |  |

| Other creditors | 399,573 |  | 130,859 |  |

737,981 |  | 457,627 |  |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 80,356 |  |

| Other creditors | 12,213 |  | 17,952 |  |

12,213 |  | 98,308 |  |

11. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 30,316 |  | 30,316 |  |

| Between one and five years | 60,632 |  | 90,948 |  |

90,948 |  | 121,264 |  |

12. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 80,356 |  | 107,142 |  |

| Bank loans are secured by a standard security over the property to which it relates along with a bond and floating charge over the company's whole assets and undertaking.

13. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 128,906 |  | 240,860 |  |

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 240,860 |  |

| Credit to Income Statement during year | (111,954 | ) |

| Balance at 30 April 2025 | 128,906 |  |

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid: |  |

| Number: |  | Class |  | Nominal |  | 2025 |  | 2024 |  |

|  | value: |  | £ |  | £ |  |

| NIL |  | Ordinary |  | £1 |  | - |  | 96 |  |

| NIL |  | B Ordinary |  | £1 |  | - |  | 4 |  |

| 9,600 |  | Ordinary |  | 1p |  | 96 |  | - |  |

| 400 |  | B Ordinary |  | 1p |  | 4 |  | - |  |

| During the year, there was a sub-division of shares from £1 shares to 1p shares.

15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| At 30 April 2025, an amount of £85,000 (2024 - £35,000) was due to the company from directors. Loans to directors are interest free and repayable on demand.

FLEXMEDICAL SOLUTIONS

LIMITED (REGISTERED NUMBER: SC493988)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 30 April 2025

16. | SHARE-BASED PAYMENT TRANSACTIONS

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Total expense recognised in profit or loss |  | 74,060 |  | - |  |

| Outstanding liability |  | 74,060 |  | - |  |

| The company operates an equity-settled share option scheme (the "Scheme") for qualifying employees. Options entitle holders to acquire ordinary shares in the Company at a fixed exercise price, subject to the scheme rules. The options vest immediately and have a contractual life of 10 years.

| Where options are awarded to employees, because they vest immediately, the total grant-date fair value is recognised in full in the period of the grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing method.

| The fair value per option granted and the assumptions used in the calculation are as follows:

| Grant Date |  | 05 July 2024 |  |

| Share price at grant date |  | £153.95 |  |

| Exercise price |  | £0.01 |  |

| Expected volatility |  | 65% p.a |  |

| Expected life |  | 5 years |  |

| Risk-free rate |  | 4.50% |  |

| Dividend yield |  | 7.50% |  |

| Fair Value per option £ |  | £105.80 |  |

| Share price at grant date was based on an independent assessment of actual market value. Expected volatility is based on peer biotech comparables, adjusted for the private status of the company. The expected life reflects anticipated exercise behaviour in a privately owned biotechnology company, despite the 10-year contract term. The risk free rate is based on UK gilt yield at the time of grant with similar maturity. The dividend yield reflects the expected policy over the expected option life.

| A reconciliation of the option movements to 30 April 2025 is shown below:

|  | 2025 |  |  | 2024 |  |

|  | Number |  | Weighted Average Exercise Price |  |  | Number |  | Weighted Average Exercise Price |  |

| Outstanding at 1 May |  | - |  | £0.00 |  |  | - |  | £0.00 |  |

| Granted |  | 700 |  | £0.01 |  |  | - |  | £0.00 |  |

| Exercised |  | - |  | £0.00 |  |  | - |  | £0.00 |  |

| Forfeited |  | - |  | £0.00 |  |  | - |  | £0.00 |  |

| Outstanding at 30 April |  | 700 |  | £0.01 |  |  | - |  | £0.00 |  |

| If any options are forfeited post grant, the cumulative expense is not reversed for equity-settled awards with non-market vesting conditions once vesting has occurred. Subsequent exercises will be accounted for by crediting share capital and share premium with cash proceeds received (if any), and reclassifying the related amount from other reserves.