Torpedo Group Limited
Unaudited Financial Statements
For the year ended 31 December 2025
Pages for Filing with Registrar
Company Registration No. 04889983 (England and Wales)
Torpedo Group Limited
Company Information
Director
I M Lewis
Secretary
I M Lewis
Company number
04889983
Registered office
The Long Barn
Worton Park
Cassington
Oxon
United Kingdom
OX29 4SX
Accountants
Moore Kingston Smith
Charlotte Building
17 Gresse Street
London
W1T 1QL
Torpedo Group Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Torpedo Group Limited
Balance Sheet
As at 31 December 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,778
29,393
Investments
4
-
0
2
6,778
29,395
Current assets
Debtors
5
1,067,516
902,588
Cash at bank and in hand
2,907,875
2,842,234
3,975,391
3,744,822
Creditors: amounts falling due within one year
6
(1,796,222)
(1,735,368)
Net current assets
2,179,169
2,009,454
Total assets less current liabilities
2,185,947
2,038,849
Provisions for liabilities
(4,405)
(349)
Net assets
2,181,542
2,038,500
Capital and reserves
Called up share capital
7
102
112
Share premium account
77,490
77,490
Capital redemption reserve
10
-
0
Profit and loss reserves
2,103,940
1,960,898
Total equity
2,181,542
2,038,500
Torpedo Group Limited
Balance Sheet (Continued)
As at 31 December 2025
Page 2

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 3 March 2026
I M Lewis
Director
Company Registration No. 04889983
Torpedo Group Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Page 3
1
Accounting policies
Company information

Torpedo Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Long Barn, Worton Park, Cassington, Oxon, United Kingdom, OX29 4SX.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Torpedo Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 4
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Torpedo Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 5
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Torpedo Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 6
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
46
63
3
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 January 2025
702,345
Additions
5,502
Disposals
(37,227)
At 31 December 2025
670,620
Depreciation and impairment
At 1 January 2025
672,952
Depreciation charged in the year
28,117
Eliminated in respect of disposals
(37,227)
At 31 December 2025
663,842
Carrying amount
At 31 December 2025
6,778
At 31 December 2024
29,393
Torpedo Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 7
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
-
0
2
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025
2
Disposals
(2)
At 31 December 2025
-
Carrying amount
At 31 December 2025
-
At 31 December 2024
2
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
708,509
513,237
Corporation tax recoverable
-
0
47,644
Other debtors
84
31,833
Prepayments and accrued income
300,573
309,874
1,009,166
902,588
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
58,350
-
0
Total debtors
1,067,516
902,588
Torpedo Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 8
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
41,551
65,108
Corporation tax
5,301
-
0
Other taxation and social security
117,080
97,556
Other creditors
1,632,290
1,572,704
1,796,222
1,735,368
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
8,500
8,500
85
85
Ordinary B shares of 1p each
1,671
1,671
17
17
Ordinary C shares of 1p each
0
969
-
0
10
10,171
11,140
102
112

On 18 July 2025, a special resolution was passed by the directors authorising the cancellation of 969 C shares.

8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
62,716
119,627
9
Related party transactions

At the year end, a balance of £58,350 (2024: £nil) was owed from Viewteam Technologies Limited, a company under common ownership.

10
Parent company

The ultimate controlling party is Iain Lewis by virtue of his majority shareholding.

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