TechPoint Electronic Solutions Limited Company accounts

COMPANY REGISTRATION NUMBER: 06064546

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Financial Statements

For the year ended

30 July 2025

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Financial Statements

Year ended 30 July 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	10

Statement of financial position	11

Notes to the financial statements	12

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Officers and Professional Advisers

The board of directors	G Hughes-Keast (Resigned 28 April 2025)
	A Harsant (Resigned 21 November 2025)
	J Drake
	C Brown
	P Duffill

Company secretary	S Wing

Registered office	Unit 1 V Park
	Jays Close
	Basingstoke
	England
	RG22 4PF

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

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Strategic Report

Year ended 30 July 2025

Business review The financial year represents a transformational period for the company, during which TESL significantly expanded its operational footprint, service capability and strategic position within the TechPoint Group. On 1 July 2025, the company assumed responsibility for the Supply Chain Solutions (SCS) operation, further consolidating the Group's activities ahead of the transition to a single operational trading entity by early 2026. The prior financial period covered only four months of trading, following the alignment of the company's year end with the rest of the Group. As a result, direct year-on-year comparisons of revenue and profit are not meaningful. Instead, the 2025 results reflect a full 12 months of activity, combining strong organic performance with the expansion of operational scope resulting from the SCS integration. During the year the company also made significant strategic investment in a new best-in-class, industry-leading headquarters and production facility in Basingstoke. This "super site" is designed to positively disrupt the UK electronics manufacturing and supply chain market by bringing together advanced manufacturing, engineering, supply chain management and customer collaboration spaces under one roof. The new facility will serve as a flagship environment for innovation, operational excellence and customer engagement. To support this transition, the company incurred approximately £250,000 of non-trading expenditure relating to project management, transition planning and professional services. In addition, the company incurred approximately £240,000 of duplicated rent costs while both the existing and new facilities were occupied during the fit-out and commissioning period ahead of relocation in August/September 2025. These costs are consistent with the Group's long-term investment strategy and position TESL for enhanced scalability and customer service during the coming years. TESL's operational performance during the period remained strong, supported by continued demand across core markets and the benefits of integrated Group capability. Revenue for the period was £11.0m, reflecting the full-year trading period and broadened operational scope. Profitability remained strong, with operating profit (excluding one off costs associated with the Basingstoke investment project) rising to £3.16m, underpinned by operational efficiency, enhanced procurement leverage and the continued professionalisation of processes across the business. Principal risks and uncertainties Inflationary and cost pressures Inflation continues to impact materials, utilities and labour. These risks are mitigated through commercial repricing, consolidated procurement, and efficiency initiatives across the Group. Liquidity and working capital management The company benefits from access to Group treasury support, shared financing facilities and active cash forecasting processes. Foreign currency risk Exposure remains limited and is managed through natural hedging, pricing strategies and monitoring of forward currency positions. Credit risk Credit exposure is managed through established processes including credit insurance, customer vetting and ongoing monitoring. Restructuring and integration risk The integration of SCS and the transition to a single Group trading entity involve operational complexity. These risks are mitigated through phased implementation, structured governance and cross-functional planning to ensure continuity of service and successful integration of systems and processes. Geopolitical risk The Group operates within global electronics and supply chain markets 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 procurement and inventory management across the Group. Key performance indicators Given the extended period of trading this year, the Directors focus on absolute performance and capability development rather than percentage comparisons to the prior 4-month period. Key indicators include: - Revenue of £11.0m - Operating profit (excluding one off costs) of £3.1m - Infrastructure investment totalling over £1.7m in new assets, including equipment transferred as part of the SCS integration - Headcount of 61 employees, supporting the enlarged operational footprint These results reflect the company's strong operating model and the benefits of consolidation and investment across the Group. Future developments The Group's transition towards a single operational trading entity is expected to complete by early 2026. TESL will continue to serve as the Group's central operational platform, providing customers with seamless access to the full breadth of Group capabilities through a single relationship. The new Basingstoke facility will play a critical role in delivering a modern, integrated and scalable production environment, setting a new standard for operational excellence in the UK electronics manufacturing sector. Continued investment in systems, capability, automation and customer collaboration will further enhance service quality and support the company's long-term growth trajectory.

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 1 V Park

Jays Close

Basingstoke

England

RG22 4PF

TechPoint Electronic Solutions Limited

(formerly Gemini Tec 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 .

Directors

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

A Harsant
J Drake
C Brown
P Duffill
G Hughes-Keast	(Resigned 28 April 2025)

On 21 November 2025, A Harsant resigned as a director.

Dividends

The directors do not recommend the payment of a dividend.

Events after the end of the reporting period

Particulars of events after the reporting date are detailed in note 23 to the financial statements.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

Directors' responsibilities statement

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. 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 1 V Park

Jays Close

Basingstoke

England

RG22 4PF

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Independent Auditor's Report to the Members of TechPoint Electronic Solutions Limited

Year ended 30 July 2025

Opinion

We have audited the financial statements of TechPoint Electronic Solutions Limited (the 'company') for the year ended 30 July 2025 which comprise the statement of income and retained earnings, statement of financial position 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 profit 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 Electronic Solutions Limited

(formerly Gemini Tec Limited)

Statement of Income and Retained Earnings

Year ended 30 July 2025

			Period from
		Year to	1 Apr 24 to
		30 Jul 25	30 Jul 24
Note		£	£
Turnover	4	11,048,186	3,113,454

Cost of sales	5,752,692	1,272,121
	-------------	------------
Gross profit	5,295,494	1,841,333

Administrative expenses		2,193,585	688,402
		------------	------------
Operating profit	5	3,101,909	1,152,931

Other interest receivable and similar income	9	8,214	7,637
Interest payable and similar expenses	10	31,857	5,370
		------------	------------
Profit before taxation		3,078,266	1,155,198

Tax on profit	11	199,197	169,798
		------------	------------
Profit for the financial year and total comprehensive income		3,277,463	985,400
		------------	------------

Retained earnings at the start of the year	3,016,811	2,031,411
	------------	------------
Retained earnings at the end of the year	6,294,274	3,016,811
	------------	------------

All the activities of the company are from continuing operations.

TechPoint Electronic Solutions Limited

(formerly Gemini Tec Limited)

Statement of Financial Position

30 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	12		1,935,189	175,163

Current assets

Stocks	13	518,771	202,366
Debtors	14	19,413,742	3,116,874
Cash at bank and in hand		332,613	2,217,748
		-------------	------------
		20,265,126	5,536,988

Creditors: amounts falling due within one year	15	15,636,270		2,199,190
		-------------		------------
Net current assets			4,628,856	3,337,798
			------------	------------
Total assets less current liabilities			6,564,045	3,512,961

Provisions	16	269,770	496,149
		------------	------------
Net assets		6,294,275	3,016,812
		------------	------------

Capital and reserves

Called up share capital	19	1	1
Profit and loss account	20	6,294,274	3,016,811
		------------	------------
Shareholders funds		6,294,275	3,016,812
		------------	------------

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: 06064546

TechPoint Electronic Solutions Limited

(formerly Gemini Tec 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 1 V Park, Jays Close, Basingstoke, RG22 4PF, England.

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 basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company is a trading entity within the TechPoint Group and participates in the Group's centralised treasury and funding arrangements. In assessing the appropriateness of the going concern basis, the Directors have considered the financial performance, cash generation and liquidity of the TechPoint Group as a whole, rather than the company in isolation. The Group continues to generate positive EBITDA and has undertaken a programme of targeted investment during the year, including the development of its best-in-class operational facility in Basingstoke and the consolidation of trading activities into a single operating entity. While these investments have resulted in a loss at the Group level, they are considered to be non-recurring and strategic in nature. The Directors have reviewed detailed Group cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements. These forecasts demonstrate that the Group has sufficient liquidity headroom, supported by cash balances and the availability of funding under the Group's invoice discounting facility. The company has also received a letter of support from its parent undertaking, confirming that financial support will be made available as required for a period of 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 very delicate in nature and often are sold in large denominations. As such, the directors include a general provision in the accounts based upon percentage breakage and unused product. 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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

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 assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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 breakpoint in the lease
Plant and machinery	-	25% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its 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.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Turnover

Turnover arises from:

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Sale of goods	11,048,186	3,113,454
	-------------	------------

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:

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
United Kingdom	10,904,990	3,051,905
Overseas	143,196	61,549
	-------------	------------
	11,048,186	3,113,454
	-------------	------------

5. Operating profit

Operating profit or loss is stated after charging/crediting:

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Depreciation of tangible assets	102,373	56,187
Loss on disposal of tangible assets	12,000	–
Impairment of trade debtors	(31,566)	13,112
Foreign exchange differences	( 8,836)	( 1,798)
Operating lease costs	188,660	62,886
	---------	--------

6. Auditor's remuneration

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Fees payable for the audit of the financial statements	–	19,000
	----	--------

There was no auditors’ remuneration charged to the Company during the current year (2024: £19,000). The audit fee for the current year was borne by group company TechPoint Shared Services Limited, as part of a centralised cost arrangement.

7. 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	41	39
Administrative staff	20	19
	----	----
	61	58
	----	----

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

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Wages and salaries	2,035,608	672,198
Social security costs	197,782	72,112
Other pension costs	86,540	24,841
	------------	---------
	2,319,930	769,151
	------------	---------

8. Directors' remuneration

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

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Remuneration	64,573	110,346
Company contributions to defined contribution pension plans	6,671	6,500
	--------	---------
	71,244	116,846
	--------	---------

9. Other interest receivable and similar income

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Interest on cash and cash equivalents	8,214	7,637
	-------	-------

10. Interest payable and similar expenses

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Other interest payable and similar charges	31,857	5,370
	--------	-------

11. Tax on profit

Major components of tax (income)/expense

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£

Current tax:

UK current tax (income)/expense	( 216,427)	216,427
Adjustments in respect of prior periods	88,341	( 17,163)
	---------	---------
Total current tax	( 128,086)	199,264
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 71,111)	( 29,466)
	---------	---------
Tax on profit	( 199,197)	169,798
	---------	---------

Reconciliation of tax (income)/expense

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

		Period from
	Year to	1 Apr 24 to
	30 Jul 25	30 Jul 24
	£	£
Profit on ordinary activities before taxation	3,078,266	1,155,198
	------------	------------
Profit on ordinary activities by rate of tax	769,567	288,800
Adjustment to tax charge in respect of prior periods	(128,086)	(53,163)
Effect of expenses not deductible for tax purposes	119	239
Effect of capital allowances and depreciation	–	6,664
Utilisation of tax losses	( 481,705)	( 66,828)
Other tax adjustments	( 41,956)	–
Transfer pricing adjustments	( 317,136)	( 5,914)
	------------	------------
Tax on profit	( 199,197)	169,798
	------------	------------

12. Tangible assets

	Short leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 31 July 2024	444,796	616,814	12,500	1,074,110
Additions	1,766,007	–	–	1,766,007
Disposals	–	( 15,000)	( 1,800)	( 16,800)
Transfers	342,627	1,210,743	1,800	1,555,170
	------------	------------	--------	------------
At 30 July 2025	2,553,430	1,812,557	12,500	4,378,487
	------------	------------	--------	------------
Depreciation
At 31 July 2024	415,627	470,820	12,500	898,947
Charge for the year	39,134	63,239	–	102,373
Disposals	–	( 3,000)	( 1,800)	( 4,800)
Transfers	331,165	1,113,813	1,800	1,446,778
	------------	------------	--------	------------
At 30 July 2025	785,926	1,644,872	12,500	2,443,298
	------------	------------	--------	------------
Carrying amount
At 30 July 2025	1,767,504	167,685	–	1,935,189
	------------	------------	--------	------------
At 30 July 2024	29,169	145,994	–	175,163
	------------	------------	--------	------------

On 1 July 2025, tangible assets were transferred from Techpoint Shared Services Limited.

13. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	518,771	202,366
	---------	---------

14. Debtors

	2025	2024
	£	£
Trade debtors	3,186,384	1,433,296
Amounts owed by group undertakings	15,085,309	969,000
Deferred tax asset	63,333	–
Prepayments and accrued income	221,822	61,644
Other debtors	856,894	652,934
	-------------	------------
	19,413,742	3,116,874
	-------------	------------

Included in trade debtors are debts of £3,186,384 (July 24: £1,433,296) with which are subject to a financing facility with Investec Bank Limited.

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,298,371	–
Trade creditors	1,511,449	459,883
Amounts owed to group undertakings	11,382,453	32,478
Accruals and deferred income	1,166,225	538,557
Social security and other taxes	271,811	1,033,911
Other creditors	5,961	134,361
	-------------	------------
	15,636,270	2,199,190
	-------------	------------

Bank loans relate to invoice factoring which is secured over the trade debtors of the company.

16. Provisions

	Warranties	Deferred tax (note 17)	Dilapidation provision	Total
	£	£	£	£
At 31 July 2024	47,370	7,779	441,000	496,149
Charge against provision	( 138)	( 7,779)	( 411,445)	( 419,362)
Transfers	–	–	192,983	192,983
	--------	-------	---------	---------
At 30 July 2025	47,232	–	222,538	269,770
	--------	-------	---------	---------

In February 2025, a new lease was signed for new premises and the old lease was confirmed as to be ended. The dilapidation provision on the old premises has been released in line with this, alongside a financial settlement with the landlord, and at the year end, the new premises had not completed alterations and therefore no value to restore to starting condition has been recoginised. On 1 July 2025, the provisions of Techpoint Shared Services Limited were transferred to the company.

17. Deferred tax

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

	2025	2024
	£	£
Included in debtors (note 14)	63,333	–
Included in provisions (note 16)	–	( 7,779)
	--------	-------
	63,333	( 7,779)
	--------	-------

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

	2025	2024
	£	£
Accelerated capital allowances	( 35,317)	34,897
Deferred tax - short term timing differences	( 28,016)	( 27,118)
	--------	--------
	(63,333)	7,779
	--------	--------

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 86,540 (2024: £ 24,841 ).

19. Called up share capital

Issued and called up

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

Shares issued and partly paid

	2025		2024
	No.	£	No.	£
Ordinary shares - £– paid of £ 1 each	1	–	1	–
	----	----	----	----

20. Reserves

The profit and loss account includes all current and prior period retained profit and losses.

21. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	614,021	110,302
Later than 1 year and not later than 5 years	2,425,000	279,302
Later than 5 years	2,778,646	–
	------------	---------
	5,817,667	389,604
	------------	---------

22. Other financial commitments

The company together with the following fellow group members Pod Bidco Limited, TechPoint Shared Services Limited, Interconics Limited (formerly TechPoint Manufacturing Solutions (Melksham) Limited), TechPoint Fast Track Solutions Limited, Golledge Electronics Limited and Bela Electronic Design Holdings 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).

23. Events after the end of the reporting period

Following the year end, the Group completed a number of restructuring steps as part of its programme to simplify the legal entity structure and consolidate trading activities into a single operational entity. On 1 November 2025, the trade and assets of Interconics Limited were transferred into the company. On 1 December 2025, the trade and assets of TechPoint Fast Track Solutions Limited were subsequently transferred into the company. These transfers form part of the Group's strategy to create a single, integrated operating platform, enabling customers to access the full breadth of the Group's capabilities through a unified commercial relationship. The consolidation of these activities is expected to enhance operational efficiency and improve the overall customer experience. In addition, following the year end, the company's immediate parent undertaking changed from Silverbulb Limited to Pod Bidco Limited as part of the Group's restructuring programme. The ultimate controlling party remains Literacy Capital PLC. This change has no impact on the company's operations or financial position.

24. 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.

25. Controlling party

The immediate parent company is considered to be Silverbulb 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. Post year end, the copmany's entire shareholding was transferred from Silverbul Limited to Pod Bidco Limited, a fellow Group company, as part of the TechPoint Group's restructuring programme to simplify the legal entity structure.