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Company Registration No. 15049374 (England and Wales)
UK Veterans Limited Unaudited accounts for the year ended 31 December 2025
UK Veterans Limited Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
UK Veterans Limited Company Information for the year ended 31 December 2025
Directors
Annabel Jamieson Angus George James Scott Hugh James Von Andree Edward Adam Butler
Company Number
15049374 (England and Wales)
Registered Office
28 Old Town London SW4 0LB UK
Accountants
Barnes & Scott 86-90 Paul Street London EC2A 4NE
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of UK Veterans Limited for the year ended 31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UK Veterans Limited for the year ended 31 December 2025 as set out on pages 5 - 9 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of UK Veterans Limited, as a body, in accordance with the terms of our engagement letter dated 23 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of UK Veterans Limited and state those matters that we have agreed to state to the Board of Directors of UK Veterans Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Veterans Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that UK Veterans Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of UK Veterans Limited. You consider that UK Veterans 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 accounts of UK Veterans 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 accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street London EC2A 4NE 19 March 2026
- 4 -
UK Veterans Limited Statement of financial position as at 31 December 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
5,537
-
Tangible assets
5
2,424
-
7,961
-
Current assets
Debtors
6
61,746
1,591
Cash at bank and in hand
38,412
316
100,158
1,907
Creditors: amounts falling due within one year
7
(375,666)
(155,736)
Net current liabilities
(275,508)
(153,829)
Total assets less current liabilities
(267,547)
(153,829)
Creditors: amounts falling due after more than one year
8
(88,538)
(108,148)
Net liabilities
(356,085)
(261,977)
Capital and reserves
Called up share capital
9
137
117
Share premium
1,102,799
265,508
Capital redemption reserve
17,465
-
Capital contribution reserve
6,523
-
Profit and loss account
(1,483,009)
(527,602)
Shareholders' funds
(356,085)
(261,977)
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2026 and were signed on its behalf by
Hugh James Von Andree Director Company Registration No. 15049374
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UK Veterans Limited Notes to the Accounts for the year ended 31 December 2025
1
Statutory information
UK Veterans Limited is a private company, limited by shares, registered in England and Wales, registration number 15049374. The registered office is 28 Old Town, London, SW4 0LB, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of financing facilities and mitigating actions that can be taken during the period.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Other tangible fixed assets
10% straight line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
- 6 -
UK Veterans Limited Notes to the Accounts for the year ended 31 December 2025
Staff Share Option Scheme
The company has an EMI approved scheme option scheme in place. At the period end there were 105,000 EMI options in issue. The Company has entered a debit of £23,988 through the profit and loss account, being the estimated fair value increase in share options during the period (£21,673) plus the previously unreported fair value of share options granted in the prior period (£2,315). As the prior period accounts did not report the share options issued in the prior period, the number of share options outstanding at the start of the current period has been restated as 55,000. The number and weighted average exercise prices for the options are as follows: (i) outstanding at the beginning of the period - 55,000 share options at £1.60 exercise price each; (ii) granted during the period - 50,000 shares at £1.70 exercise price each; (iii) forfeited during the period - Nil; (iv) exercised during the period - Nil; (v) expired during the period - Nil; (vi) outstanding at the end of the period - 105,000 share options at £1.647 exercise price each; and (vii) exercisable at the end of the period - 23,500 share options at £1.010 exercise price each.
Taxation
Taxation represents the sum of tax currently payable and deferred 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible assets are amortised on a straight-line basis at 10% per annum.
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UK Veterans Limited Notes to the Accounts for the year ended 31 December 2025
4
Intangible fixed assets
Other
£
Cost
At 1 January 2025
-
Additions
5,986
At 31 December 2025
5,986
Amortisation
At 1 January 2025
-
Charge for the year
449
At 31 December 2025
449
Net book value
At 31 December 2025
5,537
5
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 January 2025
-
Additions
2,679
At 31 December 2025
2,679
Depreciation
Charge for the year
255
At 31 December 2025
255
Net book value
At 31 December 2025
2,424
6
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
21,433
1,591
Trade debtors
4,894
-
Accrued income and prepayments
5,706
-
Other debtors
29,713
-
61,746
1,591
- 8 -
UK Veterans Limited Notes to the Accounts for the year ended 31 December 2025
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
19,153
-
Trade creditors
105,399
18,356
Taxes and social security
47,310
17,994
Other creditors
51,875
(28,852)
Loans from directors
124,524
93,806
Accruals
27,405
54,432
375,666
155,736
Included in creditors is £124,524 (2024: £93,806) owed to the directors of the company. One of the four directors’ loans is subject to an interest rate of 12% per annum.
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings and other participating interests
-
29,600
Other creditors
88,538
78,548
88,538
108,148
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
1,372,519 Ordinary shares of £0.0001 each
137.25
117.67
Shares issued during the period:
195,724 Ordinary shares of £0.0001 each
19.57
10
Average number of employees
During the year the average number of employees was 3 (2024: 2).
11
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 September 2023
31 December 2024
£
£
Capital and reserves (as previously stated)
-
(261,977)
Adjustments
-
-
Capital and reserves (as restated)
-
(261,977)
Reconciliation of profit or loss for the year
31 December 2024
£
Profit for the year (as previously stated)
(527,602)
Adjustments
-
Profit for the year (as restated)
(527,602)
- 9 -