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Registered number: 09987778
Synpulse UK Ltd
Financial Statements
For The Year Ended 30 June 2025
Synpulse UK Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Synpulse UK Ltd
Balance Sheet
As At 30 June 2025
Balance Sheet
Registered number: 09987778

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Investments | 5 |  | 1 |  | 1
|  |  | 1 |  | 1
CURRENT ASSETS
Debtors | 6 | 3,056,054 |  | 1,975,732 |
Cash at bank and in hand |  | 413,110 |  | 863,465 |
|  | 3,469,164 |  | 2,839,197 |
Creditors: Amounts Falling Due Within One Year | 7 | (2,711,352 ) |  | (2,547,026 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 757,812 |  | 292,171
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 757,813 |  | 292,172
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (1,270,459 ) |  | (921,048 )
NET LIABILITIES |  |  | (512,646 ) |  | (628,876 )
CAPITAL AND RESERVES
Called up share capital | 9 |  | 50,000 |  | 50,000
Profit and Loss Account |  |  | (562,646 ) |  | (678,876 )
SHAREHOLDERS' FUNDS |  |  | (512,646) |  | (628,876)

Page 1
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Synpulse UK Ltd
Balance Sheet (continued)
As At 30 June 2025
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 28 November 2025 and were signed on its behalf by:

K Niggli Director
28 November 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Synpulse UK Ltd
Notes to the Financial Statements
For The Year Ended 30 June 2025
Notes to the Financial Statements
1. General Information
The company is a private company limited by share capital, incorporated in England & Wales, registered number 09987778.
The address of its registered office is: Westbury Court, Church Road, Westbury-on-Trym, Bristol, United Kingdom, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
These financial statements are prepared in sterling.
The accounts present information about the company only and not the group. The group qualifies as a small group and is therefore exempt from the requirement to prepare consolidated accounts.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The financial statements have been prepared on a going concern basis. After having received assurances from the parent company, Synpulse Holding AG, regarding continued support, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future, a period of 12 months from the reporting date.
2.3. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Development costs
Development costs are recognised as intangible fixed assets where it is probable that the expected future benefits of the asset will be attributable to the company and where the cost or value can be measured reliably.
...CONTINUED
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Page 4
Synpulse UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
2.4. Intangible Fixed Assets and Amortisation - Other Intangible - continued
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:
Licences Straight line over 5 years
Development costs Straight line over 5 years
2.5. Foreign Currencies
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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and foreign tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current tax is recognised in profit or loss for the year, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case current tax is recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
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.
2.8. 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.
2.9. Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price.
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Synpulse UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
2.10. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2024: 42)
38 42
4. Intangible Assets

| Licences | Development Costs | Total
--- | --- | --- | ---
| £ | £ | £
Cost or Valuation
As at 1 July 2024 | 5,208 | 522,214 | 527,422
As at 30 June 2025 | 5,208 | 522,214 | 527,422
Amortisation
As at 1 July 2024 | 5,208 | 522,214 | 527,422
As at 30 June 2025 | 5,208 | 522,214 | 527,422
Net Book Value
As at 30 June 2025 | - | - | -
As at 1 July 2024 | - | - | -

5. Investments

| Joint Ventures
--- | ---
| £
Cost or Valuation
As at 1 July 2024 | 1
As at 30 June 2025 | 1
Provision
As at 1 July 2024 | -
As at 30 June 2025 | -
Net Book Value
As at 30 June 2025 | 1
As at 1 July 2024 | 1

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Synpulse UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
Investments in Joint Ventures as of both 30th of June 2025 and 30th of June 2024 represents 1 ordinary share (50% of share capital) in the The Delegated Exchange Limited, a company registered at 1 Vincent Square, London, UK, SW1P 2PN. The principal activity of this company is business and domestic software development.
6. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 2,738,658 |  | 1,292,153
Prepayments and accrued income | 33,843 |  | 48,093
Other debtors | 93,760 |  | 93,760
Amounts owed by group undertakings | 189,793 |  | 541,726
| 3,056,054 |  | 1,975,732

7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 601,006 |  | 272,431
Taxation and social security | 808,842 |  | 492,138
Other creditors | 25,145 |  | 22,157
Accruals and deferred income | 428,551 |  | 276,513
Amounts owed to group undertakings | 847,808 |  | 1,483,787
| 2,711,352 |  | 2,547,026

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | 1,270,459 |  | 921,048

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up but not fully paid | £ |  | £
50,000 Ordinary Shares of £ 1 each | 50,000 |  | 50,000

Page 6
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Synpulse UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 126,250 |  | 287,882
Later than one year and not later than five years | - |  | 166,290
| 126,250 |  | 454,172

The amount of non-cancellable operating lease payments recognised as an expense during the year was £276,490 (2024: £252,628).
11. Pension Commitments
The company operates a defined contribution pension scheme for. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £25,024 (2024: £21,996) were due to the fund. They are included in Other Creditors.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Parent and ultimate parent undertaking
The company's immediate and ultimate parent undertaking is Synpulse Holding AG, incorporated in Switzerland.
Its registered office is Sonnenbergstrasse 19, CH-6052, Hergiswil, Switzerland.
Copies of the group accounts may be obtained from the company's registered office.
14. Audit Information
The auditor's report on the accounts of Synpulse UK Ltd for the year ended 30 June 2025 was unqualified.
The auditor's report was signed by David Alan Oakensen FCA (Senior Statutory Auditor) for and on behalf of Oakensen (Bristol) Limited , Statutory Auditor.

Oakensen (Bristol) Limited Westbury Court Church Road Westbury-on-Trym Bristol BS9 3EF

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