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Registered number: 11719538 HOMESEARCH DIGITAL LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
HOMESEARCH DIGITAL LIMITED REGISTERED NUMBER: 11719538 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024 As restated
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 15,767 |  | 27,364
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 279,752 |  | 208,293 |
Cash at bank and in hand | 7 | 416,503 |  | 1,260,148 |
|  | 696,255 |  | 1,468,441 |
Creditors: amounts falling due within one year | 8 | (425,137) |  | (379,508) |
Net current assets |  |  | 271,118 |  | 1,088,933
Total assets less current liabilities |  |  | 286,885 |  | 1,116,297
Creditors: amounts falling due after more than one year | 9 |  | (1,347) |  | (11,561)
Net assets |  |  | 285,538 |  | 1,104,736
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 785 |  | 785
Share premium account |  |  | 7,883,011 |  | 7,883,011
Profit and loss account |  |  | (7,598,258) |  | (6,779,060)
|  |  | 285,538 |  | 1,104,736
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
G R Ellwood
Director
Date: 14 April 2026
The notes on pages 3 to 13 form part of these financial statements. Page 1
HOMESEARCH DIGITAL LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 591 | 6,151,326 | (5,870,013) | 281,904
Loss for the year | - | - | (909,047) | (909,047)
Shares issued during the year | 194 | 1,731,685 | - | 1,731,879
At 1 January 2025 | 785 | 7,883,011 | (6,779,060) | 1,104,736
Loss for the year | - | - | (819,198) | (819,198)
At 31 December 2025 | 785 | 7,883,011 | (7,598,258) | 285,538
| The notes on pages 3 to 13 form part of these financial statements.
Page 2
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | GENERAL INFORMATION
The company is a private company limited by shares, and is incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the directors have prepared and reviewed detailed financial forecasts covering a period of at least twelve months from the date of approval of the financial statements and have considered a range of reasonably possible scenarios, including severe but plausible downside cases. These assessments include consideration of current trading, expected revenue development, committed costs and available funding. The directors have also identified and approved mitigating actions, including defined cost reduction measures, which are within management control and can be implemented within existing contractual arrangements. The forecasts demonstrate that the Company is able to operate within its existing resources throughout the assessment period. The directors’ assessment is supported by ongoing monitoring of financial performance, cash flow and forward projections, together with regular review of cost structures and operational priorities. The Company also benefits from the continued support of its shareholders, which provides additional confidence in its financial position. Based on the above, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements, and have therefore adopted the going concern basis in preparing the financial statements. Page 3
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.3 | FOREIGN CURRENCY TRANSLATION
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 4
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.5 | OPERATING LEASES: THE COMPANY AS LESSEE
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | BORROWING COSTS
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | PENSIONS
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | TAXATION
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Page 5
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.10 | INTANGIBLE ASSETS
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Computer software | - | 5 | years
| 2.11 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Computer equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 6
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.14 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and Page 7
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.15 | FINANCIAL INSTRUMENTS (continued)
loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 27 (2024 - 28).
Page 8
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | INTANGIBLE ASSETS
|  | Computer software
|  | £
| Cost |
| At 1 January 2025 | 50,000
| At 31 December 2025 | 50,000
| Amortisation |
| At 1 January 2025 | 50,000
| At 31 December 2025 | 50,000
| Net book value |
| At 31 December 2025 | -
| At 31 December 2024 | -
Page 9
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | TANGIBLE FIXED ASSETS
|  | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2025 | 10,547 | 67,760 | 78,307
| Additions | - | 4,672 | 4,672
| At 31 December 2025 | 10,547 | 72,432 | 82,979
| Depreciation |  |  |
| At 1 January 2025 | 6,474 | 44,469 | 50,943
| Charge for the year on owned assets | 1,662 | 14,607 | 16,269
| At 31 December 2025 | 8,136 | 59,076 | 67,212
| Net book value |  |  |
| At 31 December 2025 | 2,411 | 13,356 | 15,767
| At 31 December 2024 | 4,073 | 23,291 | 27,364
6. | DEBTORS
|  |  |  |  | 2025 | 2024 As restated
|  |  |  |  | £ | £
| Trade debtors | 111,065 | 73,253
| Other debtors | 118,624 | 94,531
| Prepayments and accrued income | 50,063 | 40,509
|  | 279,752 | 208,293
Page 10
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | CASH AND CASH EQUIVALENTS
|  |  |  |  | 2025 | 2024 As restated
|  |  |  |  | £ | £
| Cash at bank and in hand | 416,503 | 1,260,148
|  | 416,503 | 1,260,148
8. | CREDITORS: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 10,000 | 10,000
| Trade creditors | 186,547 | 94,589
| Other taxation and social security | 101,043 | 101,292
| Other creditors | 82,346 | 70,144
| Accruals and deferred income | 45,201 | 103,483
|  | 425,137 | 379,508
9. | CREDITORS: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,347 | 11,561
Page 11
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | LOANS
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 10,000 | 10,000
| Amounts falling due 1-2 years |  |
| Bank loans | 1,347 | 10,000
| Amounts falling due 2-5 years |  |
| Bank loans | - | 1,561
|  | 11,347 | 21,561
11. | SHARE-BASED PAYMENTS
| During the year, the company issued Nil (2024: 836) options to employees under an approved scheme and Nil (2024: 730) under an unapproved scheme to third parties. During the year 212 (2024: 112) approved options lapsed and Nil (2024: 48) unapproved options lapsed. At 31 December 2025, there were a total of 1,822 (2024: 2,034) approved options in issue and 1,666 (2024: 1,666) unapproved options. Following the year end, in January 2026, the company issued 420 options to employees under an approved EMI scheme. There was no cost or liability associated with the issue.
12. | PRIOR YEAR ADJUSTMENT
The 2024 comparative has been restated to remove balances not receivable as cash within 24 hours from cash equivalents. This has decreased cash by £37,290 and increased other debtors by £37,290. There is no effect on net assets.
13. | PENSION COMMITMENTS
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,907 (2024: £37,182). Contributions totalling Nil (2024: £8,509) were payable to the fund at the balance sheet date and none are included in creditors. Page 12
HOMESEARCH DIGITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | COMMITMENTS UNDER OPERATING LEASES
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 6,600 | 73,050
| Later than 1 year and not later than 5 years | - | 6,600
|  | 6,600 | 79,650
15. | RELATED PARTY TRANSACTIONS
| Included in debtors at the balance sheet date is an amount of £43,222 owed from (2024: £27,051) a corporate shareholder. No interest was charged on this balance.
16. | POST BALANCE SHEET EVENTS
Following the year end, the company received funding from an existing shareholder, increasing cash at bank and equity by £250,000.
17. | AUDITORS' INFORMATION
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: Note 2.2 indicates that the going concern basis upon which the accounts are prepared is reliant on forecasts including approved mitigating actions in the event of severe but plausible downside performance cases.
The audit report was signed on 14 April 2026 by Rajiv Thakerar (Senior statutory auditor) on behalf of Sumer Auditco Limited.
Page 13