Company registration number 10554399 (England and Wales)
HELIX TECHNOLOGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
HELIX TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
HELIX TECHNOLOGIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
121,303
136,425
Tangible assets
5
97,977
180,675
219,280
317,100
Current assets
Stocks
160,377
281,554
Debtors
6
393,474
361,543
Cash at bank and in hand
344,864
193,748
898,715
836,845
Creditors: amounts falling due within one year
7
(1,359,219)
(1,715,938)
Net current liabilities
(460,504)
(879,093)
Total assets less current liabilities
(241,224)
(561,993)
Creditors: amounts falling due after more than one year
8
-
0
(4,834)
Provisions for liabilities
(158,868)
(106,103)
Net liabilities
(400,092)
(672,930)
Capital and reserves
Called up share capital
11
1,848
807
Share premium account
8,208,198
6,129,537
Other reserves
-
0
155,001
Profit and loss reserves
(8,610,138)
(6,958,275)
Total equity
(400,092)
(672,930)
HELIX TECHNOLOGIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 April 2026 and are signed on its behalf by:
R Barnes
Director
Company registration number 10554399 (England and Wales)
HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Helix Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sovereign House, Abingdon Science Park, Barton Lane, Abingdon, OX14 3NB.

1.1
Accounting convention

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. In making their assessment the directors have reviewed the balance sheet, the likely future cash flows of the business and have considered the facilities and cash that are in place alongside the opportunities to raise additional capital through the year. The company has begun commercialising its product offering and has a very supportive shareholder base who have provided additional investment in 2025 and are committed to the long-term success of the company.true

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Patents & licences
10% Straight line basis
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

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:

Leasehold improvements
50% Straight line basis
Plant and equipment
20% Straight line basis
Fixtures and fittings
10% Straight line basis
Computers
25% Straight line basis

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 profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

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

Current 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.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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 profit and loss account, 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.

HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.9
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 i s 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.

1.10
Retirement benefits

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

1.11
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 the Black Scholes 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.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

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 profit or loss.

1.14

Research and development

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.

HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
13
4
Intangible fixed assets
Other
£
Cost
At 1 January 2025 and 31 December 2025
202,175
Amortisation and impairment
At 1 January 2025
65,750
Amortisation charged for the year
15,122
At 31 December 2025
80,872
Carrying amount
At 31 December 2025
121,303
At 31 December 2024
136,425
HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2025
11,616
889,784
6,838
99,617
1,007,855
Additions
-
0
4,560
-
0
-
0
4,560
Disposals
(11,616)
-
0
-
0
-
0
(11,616)
At 31 December 2025
-
0
894,344
6,838
99,617
1,000,799
Depreciation and impairment
At 1 January 2025
11,616
716,154
1,846
97,564
827,180
Depreciation charged in the year
-
0
85,731
511
1,016
87,258
Eliminated in respect of disposals
(11,616)
-
0
-
0
-
0
(11,616)
At 31 December 2025
-
0
801,885
2,357
98,580
902,822
Carrying amount
At 31 December 2025
-
0
92,459
4,481
1,037
97,977
At 31 December 2024
-
0
173,630
4,992
2,053
180,675
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
44,242
6,829
Corporation tax recoverable
193,995
203,823
Other debtors
115,015
85,725
Prepayments and accrued income
-
0
24,944
353,252
321,321
2025
2024
Amounts falling due after more than one year:
£
£
Corporation tax recoverable
40,222
40,222
Total debtors
393,474
361,543
HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
265,301
5,798
Trade creditors
692,179
133,622
Taxation and social security
41,683
108,024
Other creditors
280,613
1,191,107
Accruals and deferred income
79,443
277,387
1,359,219
1,715,938
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
4,834
9
Share-based payment transactions
Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
£
£
Outstanding at 1 January 2025
6,800
7,850
14.97
17.11
Forfeited
-
0
(1,050)
0
-
0
30.66
Outstanding at 31 December 2025
6,800
6,800
14.97
14.97
Exercisable at 31 December 2025
1,356
1,236
-
0
14.97

The options outstanding at 31 December 2025 had an exercise price of £14.97. These options vest between March 2022 and December 2032 and have no performance conditions attached to them.

10
Deferred Taxation

As at 31 December 202 5 there existed a potential net deferred tax asset of £1,385,762 (202 4: £1,097,516), comprising an asset of £1,407,516 (202 4: £1,139,343) in respect of unrelieved trading losses and a liability of £21,754 (202 4: £41,827) in respect of accelerated capital allowances. This has not been reflected as an asset given the uncertainty of future revenue streams and as the company is committed to significant continued investment in research and development.

HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
11
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
106,151 (2024: 52,166) Ordinary of 1p each
1,062
521
78,572 (2024: 28,572) A Ordinary of 1p each
786
286
1,848
807

During the year, the Company issued 53,985 Ordinary shares, raising gross proceeds of £1,079,000.

On the 11 March 2025 the Company raised gross proceeds of £1,000,000 via the issue of 50,000 £0.01 Ordinary A shares.

12
Financial commitments, guarantees and contingent liabilities

In the opinion of the Directors, appropriate provisions have been made in the financial statements where liabilities are probable and can be reliably estimated.

HELIX TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
13
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
3,167,881
84,145
14
Related party transactions

Bloc Ventures Limited

Bloc Ventures Limited is a shareholder of the company.

During the year the company received services from Bloc Ventures Limited to the value of £298,445 (2024: £184,883).

I ncluded within trade creditors there is an amount of £253,513 (202 4: £119,243) owed to Bloc Ventures Limited as at 31 December 202 5.

During the period, Bloc Ventures Limited loaned the company £nil (2024: £1,144,765) and accrued interest of £17,793 (2024: £82,959) has been recognised on these loans. These amounts are included in other creditors and accruals, note 8 and 9. The majority of the loan had been converted to equity in the year.

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