Odyssey Technologies Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Odyssey Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03053926 . The registered office is Unit E, 13 Holder Road, Aldershot, England, GU12 4RH.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Presentation currency

The accounts are presented in £ sterling and rounded to the nearest £.

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.

2.3. Turnover

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

2.4. 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:

Plant & Machinery	20% Straight-line method
Motor Vehicles	20% Straight-line method
Fixtures & Fittings	20% Straight-line method
Computer Equipment	20% Straight-line method

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

Page 4

Odyssey Technologies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of profit of loss 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

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 the statement of income and retained earnings 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. Debtors

Short term debtors and creditors are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.

2.10. Creditors

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.

2.11. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2024: 21)

Page 4

Page 5

Odyssey Technologies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 September 2024	7,649	21,790	15,292	4,184	48,915
Additions	-	-	458	158	616

As at 31 August 2025	7,649	21,790	15,750	4,342	49,531

Depreciation
As at 1 September 2024	6,210	12,840	14,494	2,410	35,954
Provided during the period	348	3,200	156	528	4,232

As at 31 August 2025	6,558	16,040	14,650	2,938	40,186

Net Book Value
As at 31 August 2025	1,091	5,750	1,100	1,404	9,345

As at 1 September 2024	1,439	8,950	798	1,774	12,961

5. Stocks

	2025	2024
	£	£
Stock	25,410	16,565

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	95,997	108,997
Prepayments and accrued income	27,199	27,420
Other debtors	10,377	10,477

	133,573	146,894

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	70,968	47,801
Bank loans and overdrafts	9,043	9,631
Other taxes and social security	9,902	11,473
VAT	23,526	25,309
Other creditors	12,000	8,928
Accruals and deferred income	28,290	40,041

	153,729	143,183

Page 5

Page 6

Odyssey Technologies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

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

	2025	2024
	£	£
Bank loans	-	9,043

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Accelerated capital allowances	2,335	3,238

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	61	61

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	34,152	43,652
Later than one year and not later than five years	942	35,095

	35,094	78,747

12. Controlling Party

The company's controlling party is Mr P D Whitney by virtue of his ownership of 64% of the issued share capital in the company.

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		9,345		12,961

			9,345		12,961
CURRENT ASSETS
Stocks	5	25,410		16,565
Debtors	6	133,573		146,894
Cash at bank and in hand		41,882		38,888

		200,865		202,347
Creditors: Amounts Falling Due Within One Year	7	(153,729 )		(143,183 )

NET CURRENT ASSETS (LIABILITIES)			47,136		59,164

TOTAL ASSETS LESS CURRENT LIABILITIES			56,481		72,125

Creditors: Amounts Falling Due After More Than One Year	8		-		(9,043 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(2,335 )		(3,238 )

NET ASSETS			54,146		59,844

CAPITAL AND RESERVES
Called up share capital	10		61		61
Share premium account			396		396
Capital redemption reserve			39		39
Profit and Loss Account			53,650		59,348

SHAREHOLDERS' FUNDS			54,146		59,844