TechPoint Shared Services Limited Company accounts

COMPANY REGISTRATION NUMBER: 04509156

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Financial Statements

For the year ended

30 July 2025

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Financial Statements

Year ended 30 July 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	5

Directors' responsibilities statement	7

Independent auditor's report to the members	8

Income statement	12

Statement of financial position	13

Statement of changes in equity	14

Notes to the financial statements	15

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Officers and Professional Advisers

The board of directors	J Drake
	P Duffill
	D A Croft

Company secretary	S Wing

Registered office	Unit One
	Mundford Road Trading Estate
	Thetford
	Norfolk
	IP24 1HX

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambridgeshire
	PE2 6LR

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Strategic Report

Year ended 30 July 2025

Fair review of the business

The directors present the strategic report for the year ended 30 July 2025. The financial results for the year must be considered in the context of the significant strategic and operational changes undertaken as part of the TechPoint Group's restructuring programme. Historically, the company fulfilled two distinct roles: 1. Operating the legacy "Vanilla" business, providing supply chain solutions and certain electronics manufacturing services (EMS); and 2. Acting as the Group's shared services entity, hosting core central functions and a substantial proportion of the Group's overhead cost base. This dual role meant that the company's income and cost base did not move in parallel and therefore did not reflect the underlying performance of any specific trading activity. Operational realignment in August 2024 In August 2024, the Group took the strategic decision to realign activities to ensure each business unit was focused on its core strengths. As part of this realignment: - All manufacturing activities previously undertaken by this company were transferred to the Group's dedicated EMS businesses, where scale, capability, process maturity and best practice are more appropriately embedded to optimise customer experience and business efficiencies. - The company's remaining focus was directed towards building a clear and market-differentiated Supply Chain as a Service (SCaaS) offering. This enabled the business to develop a compelling, specialist value proposition centred around: - Vendor Managed Inventory (VMI) - Obsolescence management - Kanban and inventory flow optimisation - Complex component sourcing - Strategic supply chain problem-solving These changes were highly positive strategically but required the business to operate with a transitioning revenue base while still absorbing the bulk of central support costs on behalf of the Group. Transfer of supply chain solutions activity during the year As part of the Group's wider restructuring programme to simplify the legal entity structure and consolidate all trading activities into a single operational trading entity, the Supply Chain Solutions trade and assets were transferred from the company to TechPoint Electronic Solutions Limited with effect from 1 July 2025. Following this transfer, the company ceased external trading and now operates exclusively as a shared services and central cost centre. Impact on financial performance The combined effect of: - the August 2024 strategic realignment, - the transfer-out of manufacturing activity, - the in-year transfer-out of the supply chain solutions business, - and the absorption of Group overheads within this entity, means that the company's reported revenue and operating results do not reflect the underlying health or performance of either the EMS operations or the SCaaS model. Instead, they reflect a deliberate and planned restructuring step within the Group The results for the year also include the impact of a £500,000 non-recurring loss arising from the waiver of an intercompany receivable, which was undertaken as part of the Group restructuring programme.

Principal risks and uncertainties

The principal risks affecting the company relate to: Liquidity and funding risk The company relies on Group support and access to Group treasury resources. These risks are mitigated through central Group cash flow forecasting and committed support arrangements from the parent undertaking. Operational transition risk The move to consolidate all trading activities into a single entity carries execution and alignment risks. These are mitigated through structured governance, clear project planning and active oversight by the Group leadership team. Inflationary cost pressures The Group manages these through supplier negotiation, cost control, commercial adjustments and operational efficiencies. Credit risk Credit exposure is managed in line with Group policies. The intercompany waiver represents a strategic restructuring action, not a deterioration in credit quality. Geopolitical risk The company and group operates within global electronics supply chains which may be impacted by geopolitical developments, including conflict in the Middle East. Potential impacts include disruption to component availability, increased logistics costs and volatility in energy and input prices. These risks are mitigated through diversified sourcing strategies, strong supplier relationships and proactive inventory management across the Group.

Key performance indicators

Given the significant structural changes undertaken during the year and the company's evolving role, traditional year-on-year KPIs are not directly meaningful. Instead, the Directors monitor: - Shared service cost levels and recoverability - Efficiency of central functions - Delivery of the Group restructuring milestones - Transfer and integration timelines across the Group Future developments The company will continue to operate as a shared services and central support function for the TechPoint Group. No further trading activities are expected. The ongoing Group restructuring is expected to be completed during 2026, after which the company's structure and purpose will be reviewed in line with Group operational requirements and may result in further streamlining or dormancy.

This report was approved by the board of directors on 29 April 2026 and signed on behalf of the board by:

J Drake

Director

Registered office:

Unit One

Mundford Road Trading Estate

Thetford

Norfolk

IP24 1HX

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Directors' Report

Year ended 30 July 2025

The directors present their report and the financial statements of the company for the year ended 30 July 2025 .

Principal activities

The principal activity of the company during the year was sourcing and supply of electronics components. During the year, the company was engaged in the sourcing and supply of electronic components and the provision of supply chain services. As part of the TechPoint Group restructuring programme, manufacturing activities were transferred to other Group entities in August 2024, and the Supply Chain Solutions trade and assets were subsequently transferred to TechPoint Electronic Solutions Limited on 1 July 2025. Following these changes, the company ceased external trading and now operates as a shared services and central cost centre within the TechPoint Group.

Directors

The directors who served the company during the year were as follows:

J Drake
P Duffill
D A Croft

Dividends

The directors do not recommend payment of a final dividend.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 29 April 2026 and signed on behalf of the board by:

J Drake

Director

Registered office:

Unit One

Mundford Road Trading Estate

Thetford

Norfolk

IP24 1HX

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Directors' Responsibilities Statement

Year ended 30 July 2025

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Independent Auditor's Report to the Members of TechPoint Shared Services Limited

Year ended 30 July 2025

Opinion

We have audited the financial statements of TechPoint Shared Services Limited (the 'company') for the year ended 30 July 2025 which comprise the income statement, statement of financial position, statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 July 2025 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation. - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - enquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

29 April 2026

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Income Statement

Year ended 30 July 2025

		2025	2024
Note		£	£
Turnover	4	4,755,579	8,353,740

Cost of sales	( 3,796,455)	( 6,723,507)
	------------	------------
Gross profit	959,124	1,630,233

Administrative expenses		( 5,646,381)	( 4,268,268)
Other operating income	5	38,598	129,632
		------------	------------
Operating loss	6	( 4,648,659)	( 2,508,403)

Other interest receivable and similar income	10	1,786	35,731
Waive of intercompany loan		500,000	–
Interest payable and similar expenses	11	( 120,310)	( 149,030)
		------------	------------
Loss before taxation		( 4,267,183)	( 2,621,702)

Tax on loss	12	( 425,557)	390,842
		------------	------------
Loss for the financial year		( 4,692,740)	( 2,230,860)
		------------	------------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Statement of Financial Position

30 July 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	13	–	346,089

Current assets

Stocks	14	–	765,329
Debtors	15	5,050,808	11,973,772
Cash at bank and in hand		–	757,415
		------------	-------------
		5,050,808	13,496,516

Creditors: amounts falling due within one year	16	6,911,230	10,735,854
		------------	-------------
Net current (liabilities)/assets		( 1,860,422)	2,760,662
		------------	------------
Total assets less current liabilities		( 1,860,422)	3,106,751

Provisions	17	–	274,433
		------------	------------
Net (liabilities)/assets		( 1,860,422)	2,832,318
		------------	------------

Capital and reserves

Called up share capital	21	12,000	12,000
Capital redemption reserve	22	19,000	19,000
Profit and loss account	22	( 1,891,422)	2,801,318
		------------	------------
Shareholders (deficit)/funds		( 1,860,422)	2,832,318
		------------	------------

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

These financial statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

J Drake

Director

Company registration number: 04509156

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Statement of Changes in Equity

Year ended 30 July 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£
At 1 August 2023	12,000	19,000	5,032,178	5,063,178

Loss for the year			( 2,230,860)	( 2,230,860)
	--------	--------	------------	------------
Total comprehensive income for the year	–	–	( 2,230,860)	( 2,230,860)

At 30 July 2024	12,000	19,000	2,801,318	2,832,318

Loss for the year			( 4,692,740)	( 4,692,740)
	--------	--------	------------	------------
Total comprehensive income for the year	–	–	( 4,692,740)	( 4,692,740)

	--------	--------	------------	------------
At 30 July 2025	12,000	19,000	( 1,891,422)	( 1,860,422)
	--------	--------	------------	------------

TechPoint Shared Services Limited

(formerly Techpoint Supply Chain Solutions Limited)

Notes to the Financial Statements

Year ended 30 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit One, Mundford Road Trading Estate, Thetford, Norfolk, IP24 1HX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basisThe financial statements are prepared in sterling, which is the functional currency of the entity. Going concern On 1 July 2025, the company transferred its Supply Chain Solutions trade and operational assets to TechPoint Electronic Solutions Limited as part of the wider TechPoint Group restructuring programme to consolidate trading activities into a single operational entity. Following this transfer, the company ceased external trading activities but continues to operate as a shared services and central cost centre, providing administrative, procurement and support functions to other Group companies. The company reports a loss for the year and has net liabilities at the reporting date. As a shared services entity, the company is dependent on ongoing financial support from the wider TechPoint Group in order to meet its obligations as they fall due. The Group operates a centralised treasury model, and the company's activities and costs are funded through intra-group arrangements. In forming their view on going concern, the Directors have considered: - the financial performance, liquidity and cash generation of the TechPoint Group as a whole; - the Group's consolidated cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements; - the continued role of the company as a central support function within the Group; and - the letter of support received from the parent undertaking, confirming that financial support will be made available for at least twelve months from the date of approval of these financial statements. Taking these factors into account, the Directors consider that the company has adequate financial resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of TechPoint Group Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel. 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 year in which the estimate is revised where the revision affects any that year, or in the year of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows. 1) Depreciation charge The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. 2) Stock provision The company sells products which are subject to changing consumer demands. As a result it is necessary to consider the recoverability of the cost of the stock and the associated provision required. When calculating the provision, management considers the nature and age of the stock as well as applying assumptions around anticipated saleability of stock. 3) Dilapidation provision A provision for dilapidation costs has been included based on the best estimate of costs to be incurred at the end of the lease to reinstate the condition of the company's leased premises. This has been based on third party surveyor reports and discounting to amortised cost applying an appropriate rate. 4) Warranty provision A warranty provision for finished goods is included in the financial statements based on expected returns . Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangible assets Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	To break point in the lease
Plant and machinery	-	15% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).

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 profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	4,755,579	8,353,740
	------------	------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	4,501,203	7,889,778
Europe	84,703	298,757
Rest of the World	169,673	165,205
	------------	------------
	4,755,579	8,353,740
	------------	------------

5. Other operating income

	2025	2024
	£	£
Government grant income	–	949
Other operating income	38,598	128,683
	--------	---------
	38,598	129,632
	--------	---------

Other operating income relates to amounts received in relation to management fees.

6. Operating loss

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	206,514	276,481
Gains on disposal of tangible assets	( 15,000)	–
Impairment of trade debtors	15,483	82,649
Foreign exchange differences	1,209	3,292
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	10,250	12,875
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	7	13
Administrative staff	35	42
	----	----
	42	55
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	3,162,851	2,889,880
Social security costs	353,465	295,886
Other pension costs	120,507	104,103
	------------	------------
	3,636,823	3,289,869
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	637,786	480,738
Company contributions to defined contribution pension plans	20,756	64,653
	---------	---------
	658,542	545,391
	---------	---------

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	412,803	133,100
Company contributions to defined contribution pension plans	12,000	51,663
	---------	---------
	424,803	184,763
	---------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	1,786	35,731
	-------	--------

11. Interest payable and similar expenses

	2025	2024
	£	£
Other interest payable and similar charges	120,310	149,030
	---------	---------

12. Tax on loss

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

Adjustments in respect of prior periods	84,387	–

Deferred tax:

Origination and reversal of timing differences	341,170	( 390,842)
	---------	---------
Tax on loss	425,557	( 390,842)
	---------	---------

Reconciliation of tax expense/(income)

The tax assessed on the loss on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Loss on ordinary activities before taxation	( 4,267,183)	( 2,621,702)
	------------	------------
Loss on ordinary activities by rate of tax	( 1,066,796)	( 655,425)
Effect of expenses not deductible for tax purposes	3,431	5,130
Effect of capital allowances and depreciation	1,100	2,859
Effect of revenue exempt from tax	( 125,000)	( 237)
Utilisation of tax losses	268,755	296,356
Other adjustment	72,991	( 2,074)
Adjustments in respect of prior periods	434,763	–
Transfer pricing adjustments	836,313	( 37,451)
	------------	------------
Tax on loss	425,557	( 390,842)
	------------	------------

13. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Computer	Total
	£	£	£	£	£	£
Cost
At 31 Jul 2024	373,810	15,000	1,005,586	29,590	190,157	1,614,143
Disposals	( 31,183)	–	–	( 27,790)	–	( 58,973)
Transfers	( 342,627)	( 15,000)	( 1,005,586)	( 1,800)	( 190,157)	( 1,555,170)
	---------	--------	------------	--------	---------	------------
At 30 Jul 2025	–	–	–	–	–	–
	---------	--------	------------	--------	---------	------------
Depreciation
At 31 Jul 2024	167,258	563	943,220	29,590	127,423	1,268,054
Charge for the year	163,907	2,062	21,919	–	18,626	206,514
Disposals	–	–	–	( 27,790)	–	( 27,790)
Transfers	( 331,165)	( 2,625)	( 965,139)	( 1,800)	( 146,049)	( 1,446,778)
	---------	--------	------------	--------	---------	------------
At 30 Jul 2025	–	–	–	–	–	–
	---------	--------	------------	--------	---------	------------
Carrying amount
At 30 Jul 2025	–	–	–	–	–	–
	---------	--------	------------	--------	---------	------------
At 30 Jul 2024	206,552	14,437	62,366	–	62,734	346,089
	---------	--------	------------	--------	---------	------------

On 1 July 2025, all assets were transferred to Techpoint Electronic Solutions Limited.

14. Stocks

	2025	2024
	£	£
Work in progress	–	350,882
Finished goods and goods for resale	–	414,447
	----	---------
	–	765,329
	----	---------

15. Debtors

	2025	2024
	£	£
Trade debtors	–	1,203,634
Amounts owed by group undertakings	4,695,540	9,956,317
Deferred tax asset	2,181	343,351
Prepayments and accrued income	109,600	112,258
Corporation tax repayable	–	229,081
Other debtors	243,487	129,131
	------------	-------------
	5,050,808	11,973,772
	------------	-------------

On 1 July 2025, all assets relating to the Supply Chain Solutions operation were transferred to TechPoint Electronic Solutions Limited. Included in trade debtors are debts of £nil (2024 - £1,203,634) which are subject to a financing facility with Investec Bank Limited.

16. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	3,150	941,646
Trade creditors	95,509	1,199,215
Amounts owed to group undertakings	6,184,919	7,939,860
Accruals and deferred income	527,593	351,315
Social security and other taxes	83,654	110,557
Other creditors	16,405	193,261
	------------	-------------
	6,911,230	10,735,854
	------------	-------------

17. Provisions

	Warranties	Dilapidation	Total
	£	£	£
At 31 July 2024	73,533	200,900	274,433
Charge against provision	( 73,000)	( 8,450)	( 81,450)
Transfers	( 533)	( 192,450)	( 192,983)
	--------	---------	---------
At 30 July 2025	–	–	–
	--------	---------	---------

On 1 July 2025, provisions were transferred to Techpoint Electronic Solutions Limited.

18. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in debtors (note 15)	2,181	343,351
	-------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	–	10,003
Unused tax losses	( 159)	( 351,626)
Pension plan obligations	( 2,022)	( 1,728)
	-------	---------
	(2,181)	(343,351)
	-------	---------

19. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 120,507 (2024: £ 104,103 ).

20. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in other operating income:

Government grants recognised directly in income	–	949
	----	----

21. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	12,000	12,000	12,000	12,000
	--------	--------	--------	--------

22. Reserves

The profit and loss account includes all current and prior period retained profit and losses . The capital redemption reserve relates to the par value of the shares.

23. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	84,500	84,500
	--------	--------

24. Financial commitments, guarantees and contingent liabilities

The company together with the following fellow group members Pod Bidco Limited, Interconics Limited (formerly TechPoint Manufacturing Solutions (Melksham) Limited, TechPoint Fast Track Solutions Limited, Golledge Electronics Limited, Bela Electronic Design Holdings Limited and TechPoint Electronic Solutions Limited have entered a cross guarantee with Investec Bank in respect of a fixed and floating charge over the assets of the companies. At 30 July 2025 the total amount covered by the cross guarantee amounted to £9,036,304 (2024 - £11,667,394).

25. Related party transactions

The company has taken advantage of the exemption available under FRS102 from reporting transactions with members of the group that are wholly owned.

26. Controlling party

The immediate parent company is considered to be Pod Bidco Limited , a company registered in England and Wales. The ultimate parent company is considered to be Literacy Capital PLC a company incorporated in England and Wales. TechPoint Group Limited is the smallest company in the group that produces group consolidated accounts.