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Company No: 08260223 (England and Wales)

# FINSEN TECHNOLOGIES LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

FINSEN TECHNOLOGIES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

FINSEN TECHNOLOGIES LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
FINSEN TECHNOLOGIES LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 8,609 |  | 20,465
Investments | 4 | 750,000 |  | 750,000
|  | 758,609 |  | 770,465
Current assets |  |  |  |
Stocks |  | 174,641 |  | 224,099
Debtors | 5 | 606,241 |  | 543,889
Cash at bank and in hand |  | 16,996 |  | 246,853
|  | 797,878 |  | 1,014,841
Creditors: amounts falling due within one year | 6 | ( 418,782) |  | ( 490,160)
Net current assets |  | 379,096 |  | 524,681
Total assets less current liabilities |  | 1,137,705 |  | 1,295,146
Provision for liabilities | 7 | ( 1,500) |  | ( 4,500)
Net assets |  | 1,136,205 |  | 1,290,646
Capital and reserves |  |  |  |
Called-up share capital | 8 | 287 |  | 285
Share premium account |  | 482,350 |  | 482,350
Capital redemption reserve |  | 2 |  | 2
Other reserves | 10 | 148,201 |  | 129,214
Profit and loss account |  | 505,365 |  | 678,795
Total shareholders' funds |  | 1,136,205 |  | 1,290,646

For the financial year ending 31 March 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Finsen Technologies Limited (registered number: 08260223) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S J Lawson Director |

11 December 2025

FINSEN TECHNOLOGIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
FINSEN TECHNOLOGIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Finsen Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 5 Fleet Place, London, EC4M 7RD.
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The company had net assets of £1,136,205 at the reporting date.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

##### Foreign currency

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 in the period are included in the income statement for the period.

##### Turnover

Turnover represents the sale of UVC disinfection products and is recognised when the significant risks and rewards of ownership have passed to the buyer (on the dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
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.

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

##### Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
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.
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 income statement, 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.

##### Tangible fixed assets

Property, plant and equipment 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:

Plant and machinery | 3 - 5 years straight line
Vehicles | 4 years straight line
Fixtures and fittings | 4 years 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 the statement of income.

##### Impairment of 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.

##### Fixed asset investments

Interests in subsidiaries are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
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.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in the income statement.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

##### Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost.

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.

##### Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

##### Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using an appropriate pricing model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 5 |  | 3

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 104,950 |  | 28,503 |  | 11,755 |  | 145,208
Additions | 3,104 |  | 0 |  | 0 |  | 3,104
At 31 March 2025 | 108,054 |  | 28,503 |  | 11,755 |  | 148,312
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 93,866 |  | 22,565 |  | 8,312 |  | 124,743
Charge for the financial year | 7,168 |  | 5,938 |  | 1,854 |  | 14,960
At 31 March 2025 | 101,034 |  | 28,503 |  | 10,166 |  | 139,703
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 7,020 |  | 0 |  | 1,589 |  | 8,609
At 31 March 2024 | 11,084 |  | 5,938 |  | 3,443 |  | 20,465

#### 4. Fixed asset investments

| 2025 |  | 2024
| £ |  | £
Subsidiary undertakings | 750,000 |  | 750,000

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 94,108 |  | 128,667
Amounts owed by group undertakings | 433,607 |  | 227,061
Corporation tax | 17,940 |  | 33,007
Other debtors | 60,586 |  | 155,154
| 606,241 |  | 543,889

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 48,109 |  | 95,368
Other taxation and social security | 10,136 |  | 29,532
Other creditors | 360,537 |  | 365,260
| 418,782 |  | 490,160

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Warranty provision | 1,500 |  | 4,500

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
28,737 Ordinary shares of £ 0.01 each (2024: 28,457 shares of £ 0.01 each) | 287 |  | 285

#### 9. Related party transactions

The company has taken advantage of the exemption available in accordance with Section 33.1A of Financial Reporting Standard 102 whereby it has not disclosed transactions entered into between two or more members of a group, as the company wholly owns the subsidiary undertakings of the group in which it is party to the transactions.

#### 10. Share-based payment transactions

At 1 April 2023, there were 1,091 share options outstanding (weighted average exercise price of £5.57). During the year ended 31 March 2024, 2,545 share options were granted (£0.01), 210 were forfeited (£2.39), and 271 were exercised (£0.01). The result was that at 31 March 2024 there were 3,155 share options outstanding (£1.77).
During the year ended 31 March 2025, 1,560 share options were granted (£0.33), 1,250 were forfeited (£4.06), and 280 were exercised (£0.01). The result was that at 31 March 2025 there were 3,185 share options outstanding (£0.32).

Liabilities and expenses

The company issues options to certain employees and directors.
These options are valid for ten years and they vest over a period of up to three years from the date of grant. However, the options can be exercised at any time at which an offer has been made to acquire a controlling interest of the company. The options are also conditional on the option holder remaining in employment, unless permitted by the board.
At the date of grant the directors considered the fair value per option to range between £59 and £100 per option, and a fair value adjustment has been recognised through the Share based payment reserve in equity.