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COMPANY REGISTRATION NUMBER: SC591484

Theorise Limited

Filleted Unaudited Financial Statements

30 June 2025

Theorise Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Theorise Limited

Year ended 30 June 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Theorise Limited for the year ended 30 June 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Theorise Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Theorise Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Theorise Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Theorise Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Theorise Limited. You consider that Theorise Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Theorise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
PAUL PHILLIS & CO LIMITED Chartered accountants
11a Corelli Street Newport South Wales NP19 7AR
10 March 2026

Theorise Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 86,418 | 79,982
Investments | 6 | 1,406,256 | 1,195,794
| ------------ | ------------
| 1,492,674 | 1,275,776

Current assets

Debtors | 7 | 428,368 | 345,820
Cash at bank and in hand | 642,667 | 507,654
| ------------ | ---------
| 1,071,035 | 853,474

Creditors: amounts falling due within one year | 8 | 410,132 | 376,019
| ------------ | ---------
Net current assets | 660,903 | 477,455
| ------------ | ------------
Total assets less current liabilities | 2,153,577 | 1,753,231

Provisions | 57,902 | 42,251
| ------------ | ------------
Net assets | 2,095,675 | 1,710,980
| ------------ | ------------

Capital and reserves

Called up share capital | 200,000 | 200,000
Profit and loss account | 1,895,675 | 1,510,980
| ------------ | ------------
Shareholders funds | 2,095,675 | 1,710,980
| ------------ | ------------

These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 .

Theorise Limited

Statement of Financial Position (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 10 March 2026 , and are signed on behalf of the board by:

Ms A.J. Brunton | Mr D.R. Brunton
Director | Director

Company registration number: SC591484

Theorise Limited

Notes to the Financial Statements

Year ended 30 June 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 Westpoint, 4 Redheughs Rigg, Edinburgh, EH12 9DQ, Scotland.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 20% reducing balance
| Motor vehicles | - | 20% reducing balance

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments, trade debtors, other debtors, and creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. Other debt instruments are subsequently measured at amortised cost.
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 3 (2024: 3 ).
5. Tangible assets

| Plant and machinery | Motor vehicles | Total
| £ | £ | £
Cost |  |  |
At 1 July 2024 | 32,741 | 60,395 | 93,136
Additions | 3,661 | 82,121 | 85,782
Disposals | – | ( 60,395) | ( 60,395)
| -------- | -------- | ---------
At 30 June 2025 | 36,402 | 82,121 | 118,523
| -------- | -------- | ---------
Depreciation |  |  |
At 1 July 2024 | 7,115 | 6,039 | 13,154
Charge for the year | 8,566 | 21,457 | 30,023
Disposals | – | ( 11,072) | ( 11,072)
| -------- | -------- | ---------
At 30 June 2025 | 15,681 | 16,424 | 32,105
| -------- | -------- | ---------
Carrying amount |  |  |
At 30 June 2025 | 20,721 | 65,697 | 86,418
| -------- | -------- | ---------
At 30 June 2024 | 25,626 | 54,356 | 79,982
| -------- | -------- | ---------

6. Investments

| Other investments other than loans
| £
Cost |
At 1 July 2024 | 1,195,794
Additions | 200,000
Revaluations | 10,462
| ------------
At 30 June 2025 | 1,406,256
| ------------
Impairment |
At 1 July 2024 and 30 June 2025 | –
| ------------

Carrying amount |
At 30 June 2025 | 1,406,256
| ------------
At 30 June 2024 | 1,195,794
| ------------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 100,090 | 173,044
Other debtors | 328,278 | 172,776
| --------- | ---------
| 428,368 | 345,820
| --------- | ---------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 29,520 | 33,614
Corporation tax | 161,458 | 130,477
Social security and other taxes | 71,713 | 76,048
Other creditors | 147,441 | 135,880
| --------- | ---------
| 410,132 | 376,019
| --------- | ---------

9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Ms A.J. Brunton | ( 48,032) | 284,060 | ( 110,001) | 126,027
|  | -------- | --------- | --------- | ---------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Ms A.J. Brunton | ( 8,310) | ( 45,422) | 5,700 | ( 48,032)
|  | ------- | -------- | ------- | --------

10. Related party transactions
During the year the company entered into the following transactions with related parties:

| Transaction value
| 2025 | 2024
| £ | £
Ms A.J. Brunton | 2,850 | 2,850
| ------- | -------

The company operates from premises jointly owned by a director, for which the company pays an annual rent, the directors share of which is stated above.