REGISTERED NUMBER: 06765652 (England and Wales)

GLI UK Gaming Ltd

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mr J R Maida

Mr J Boje

SECRETARY:

Mr J R Maida

REGISTERED OFFICE:

Llys Helyg

Parc Menai

Bangor

LL57 4EZ

REGISTERED NUMBER:

06765652 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The business has continued to strengthen its position within the gaming industry, demonstrating resilience and adaptability amidst a rapidly evolving market environment. Throughout the financial year ending 2025, the business has focused on delivering sustainable growth, enhancing operational efficiencies, and exploring new opportunities in line with our strategic objectives.

iGaming and Sports Wagering which are still leading the way seeing ongoing growth. With on-line growth Land based customers, we continue seeing a shift in player behaviors that is showing slower growth across this segment of their business. The Brazilian market has continued pressure on all sector of the company in ensuring on time delivery in a market that has added several challenges for our technical compliance team as this market continues to grow and expand.

Our commitment to innovation and quality has enabled us to maintain strong relationships with key stakeholders while expanding our service offerings. The business has improved its competitive edge and operational effectiveness by leveraging technological advancements and optimizing internal processes.

The business has successfully navigated industry shifts despite market challenges, ensuring financial stability and laying the foundation for continued success. Looking ahead, we remain dedicated to driving long-term value for our clients, employees, and shareholders through strategic investments and a customer-centric approach.

We have seen mixed results with increased/decreased revenues from some Landbased clients, additional we have seen expansion and growth across business from iGaming and Sports Wagering companies with increased markets opening especially in the US and later in 2025 in some jurisdiction in Europe and Africa.

Coupled with this growth has been the existing regulated markets providing ongoing growth and recurring business.

LANDBASED

Our land base customers are stable across the region as we continue to see pressure on the land base from online growth across several markets and new markets opening globally during 2025. Recurring business continues from EMEIA based manufacturers and transfers from suppliers from outside.

EMEIA based manufacturers are also increasing their cooperation and entering new global markets outside of EMEIA, with that work taking place in many of our GLI offices across the EMEIA region. Noting Evolution, ADP, EGT, Novomatic, Interblock, Pragmatic, Synot, Apex, amongst others.

Greek and Italian VLT continues to bring regular work in from the suppliers. We continue to test and update many land-based casino accounting systems within our laboratories.

Trend by iGaming brands placing their content into land-based sector either directly or as a content provider is gaining momentum.

iGAMING

We no longer consider our clients as purely EMEIA as they are entering all Global iGaming markets. There is a huge focus on time to market and our ability to deliver on time, on budget and with high quality are key metrics for our clients.

There has been a shift in terms of major clients moving to single game submissions for multiple jurisdictions, rather than the historical model of batched game submissions. Note this is an advantage to GLI in terms of our Global reach and Letter Generation Tool which is based around single game reports. It is normal to see a game being submitted for more than 20 jurisdictions.

Brazil has attracted large interest from all our large customers globally and has required us to invest in additional resources as this is a new market and interpretation of the technical standards do require working with key stakeholders in government as well as our customers across several region.

European markets remain strong, although the ongoing changes by the UKGC and KSA could impact both markets moving forward. US markets are strong for EMEIA B2B suppliers, although the B2C Operator business is dominated by US based companies.

RECRUITMENT AND PERSONNEL

We continue to evaluate our internal structure to optimise efficiency and sustainability. During 2025 global staffing increased by 437 (157 being females and 280 male), mainly in the support areas in preparation to allow for future business.

The changes across our global structure have greatly increased executive level management within WWL.

CORPORATE SOCIAL RESPONSIBILITY

At GLI, we are deeply committed to Corporate Social Responsibility (CSR) and uphold the highest standards of ethics, compliance, and respect for all individuals.

As part of our ongoing efforts to foster a positive and responsible work environment, every employee is required to complete training in the following areas:

" Sexual Harassment Prevention Training (2025): Understanding and preventing sexual harassment is essential to maintaining a respectful workplace.

" Global Anti-Bribery Training (2025): Ensuring compliance with global anti-bribery laws and promoting a culture of integrity.

" Ethics Training (2025): Strengthening our commitment to ethical decision-making and responsible business practices.

" GDPR Training (2025): Safeguarding personal data and ensuring compliance with the General Data Protection Regulation (GDPR).

" Privacy Awareness Training (2025): Promoting awareness and understanding of privacy regulations and the protection of sensitive information.

These training programs are mandatory for all employees, reinforcing GLI's dedication to a responsible, ethical, and transparent business environment. By empowering our team with the knowledge and tools to navigate these critical areas, we strive to create a culture that is accountable, compliant, and respectful in every aspect of our operations.

The ROAD (Recognition, Objectives, Alignment, and Development) program, launched in 2022, remains a cornerstone of our employee engagement strategy. It continues to play a pivotal role in fostering a positive and motivated work environment.

In addition to this, we conduct two internal employee surveys each year using Qualtrics to gather insights on employee engagement and the effectiveness of management. The feedback from these surveys has been instrumental in driving internal initiatives focused on training, compensation, recruitment, retention, and workplace flexibility.

These ongoing efforts ensure that we remain responsive to employee needs and continuously improve our workplace culture.

Financial Key Performance Indicators (KPIs)

Results for the 2025 financial year and key financials are set out below:

Turnover has increased from £11,974,646 to £13,575,381, 13% sales growth for the year.

Gross Profit increased from £7,297,716 to £9,682,210 on a full year basis. Gross profit margin is 71% for the year, which is up 10% year on year.

Expenditure as a percentage of turnover up from 49% to 54% year on year, with expenditure up overall by £1,432,246 for the year.

Reported net profit before tax increased from £1,368,331 to £2,286,992.

Shareholder funds have increased by £192,512 to £2,813,303.

PRINCIPAL RISKS AND UNCERTAINTIES

Potential risks include increased competition, operational challenges from low-cost areas, and ongoing consolidation in the market. To mitigate these risks, we are centralizing services, enhancing leadership capabilities, and developing advanced business tracking tools.

While the business has a solid internal foundation with well-established staff and departments, we have identified the following areas as potential risks:

" Ongoing competition and work execution from low-cost areas.

" The business focus on C-level management, Directors, and Senior Managers to adapt the structure and manage growth while aligning our business globally.

" Ongoing consolidation within the industry.

To address these risks, the business has taken several strategic steps:

" Centralizing services: We continue to adopt a global approach to centralize key services, ensuring we meet the evolving needs of our clients. Our Global Delivery Leadership team has made significant strides in focusing on client needs and delivering superior results.

" Business tracking: We are continuously developing new dashboards and business tracking tools to monitor operations and performance across GLI, ensuring we can make informed decisions at every stage.

" Internal promotions: We have made numerous internal promotions to strengthen our leadership structure, ensuring it meets both internal demands and the needs of our clients.

ON BEHALF OF THE BOARD:

Mr J R Maida - Director

22 April 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the testing for certification of gaming and other software.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2025 will be £ 1,500,000 .

DIRECTORS

Mr J R Maida has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

Mr M Britton - resigned 7 March 2025

Mr J Boje - appointed 7 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 of 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 judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J R Maida - Director

22 April 2026

Opinion

We have audited the financial statements of GLI UK Gaming Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 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 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page five, 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 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.

Auditors' 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 a Report of the Auditors 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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;

- Obtaining an understanding of the internal controls that management have in place to prevent and detect fraud;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

- Identifying and testing journal entries, in particular manual or unusual entries;

- Obtaining third party confirmations of all the company's banking arrangements;

- Performing analytical procedures to identify any unusual or unexpected relationships;

- Concluding on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Jason Matischok (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

23 April 2026

TURNOVER

13,575,381

11,974,646

Cost of sales

(3,893,171

)

(4,676,927

)

GROSS PROFIT

9,682,210

7,297,719

Distribution costs

(1,978

)

-

Administrative expenses

(7,393,868

)

(5,945,069

)

2,286,364

1,352,650

Other operating income

6

200

OPERATING PROFIT

4

2,286,370

1,352,850

Interest receivable and similar income

16,682

15,519

2,303,052

1,368,369

Interest payable and similar expenses

5

(16,060

)

(38

)

PROFIT BEFORE TAXATION

2,286,992

1,368,331

Tax on profit

6

(595,119

)

(327,320

)

PROFIT FOR THE FINANCIAL YEAR

1,691,873

1,041,011

PROFIT FOR THE YEAR

1,691,873

1,041,011

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,691,873

1,041,011

FIXED ASSETS

Tangible assets

8

358,551

186,034

CURRENT ASSETS

Debtors

9

2,535,328

3,328,754

Cash at bank and in hand

1,318,113

1,363,987

3,853,441

4,692,741

CREDITORS

Amounts falling due within one year

10

1,309,402

2,211,904

NET CURRENT ASSETS

2,544,039

2,480,837

TOTAL ASSETS LESS CURRENT LIABILITIES

2,902,590

2,666,871

PROVISIONS FOR LIABILITIES

11

89,926

46,080

NET ASSETS

2,812,664

2,620,791

CAPITAL AND RESERVES

Called up share capital

12

5,000

5,000

Retained earnings

13

2,807,664

2,615,791

SHAREHOLDERS' FUNDS

2,812,664

2,620,791

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

Mr J R Maida - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

5,000

1,574,780

1,579,780

Changes in equity

Total comprehensive income

-

1,041,011

1,041,011

Balance at 31 December 2024

5,000

2,615,791

2,620,791

Changes in equity

Dividends

-

(1,500,000

)

(1,500,000

)

Total comprehensive income

-

1,691,873

1,691,873

Balance at 31 December 2025

5,000

2,807,664

2,812,664

Cash flows from operating activities

Cash generated from operations

1

2,362,237

823,643

Interest paid

-

(38

)

Finance costs paid

(16,060

)

-

Tax paid

(650,816

)

-

Net cash from operating activities

1,695,361

823,605

Cash flows from investing activities

Purchase of tangible fixed assets

(257,917

)

(104,344

)

Interest received

16,682

15,519

Net cash from investing activities

(241,235

)

(88,825

)

Cash flows from financing activities

Equity dividends paid

(1,500,000

)

-

Net cash from financing activities

(1,500,000

)

-

(Decrease)/increase in cash and cash equivalents

(45,874

)

734,780

Cash and cash equivalents at beginning of year

2

1,363,987

629,207

Cash and cash equivalents at end of year

2

1,318,113

1,363,987

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

2,286,992

1,368,331

Depreciation charges

85,399

66,167

Finance costs

16,060

38

Finance income

(16,682

)

(15,519

)

2,371,769

1,419,017

Decrease/(increase) in trade and other debtors

1,235,418

(698,077

)

(Decrease)/increase in trade and other creditors

(1,244,950

)

102,703

Cash generated from operations

2,362,237

823,643

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

1,318,113

1,363,987

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,363,987

629,207

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

1,363,987

(45,874

)

1,318,113

1,363,987

(45,874

)

1,318,113

Total

1,363,987

(45,874

)

1,318,113

1.	STATUTORY INFORMATION

GLI UK Gaming Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

The date of transition to FRS 102 Section 1A for small entities is 1st January 2015. The transition has not resulted in any adjustments.

Turnover

Revenue from providing services is recognised when the services are rendered.

For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of total services to be provided because the customer receives and uses the benefits simultaneously. This is determined based on actual labour hours spent relative to the total expected labour hours. If the contract includes an hourly fee, revenue is recognised in the amount to which the company has a right to invoice.

Customers are invoiced on a monthly basis and consideration is payable when invoiced.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Employee benefits

Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Work in progress

Work in progress is valued at the full amount of uninvoiced time at the standard charge out rate less an appropriate discount for anticipated write downs.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

5,926,126

4,491,479

Social security costs

122,123

132,280

6,048,249

4,623,759

The average number of employees during the year was as follows:

2025

2024

Staff

142

105

2025

2024

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

1,978

-

Other operating leases

116,690

143,315

Depreciation - owned assets

85,400

66,166

Foreign exchange differences

(50,754

)

17,500

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

38

HMRC Interest

16,060

-

16,060

38

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

551,276

300,719

Deferred tax

43,843

26,601

Tax on profit

595,119

327,320

7.

DIVIDENDS

2025

2024

£

£

Ordinary A shares of £1 each

Interim

1,500,000

-

8.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

190,358

160

119,949

714,674

1,025,141

Additions

70,935

-

49,327

137,655

257,917

Disposals

-

(160

)

-

-

(160

)

At 31 December 2025

261,293

-

169,276

852,329

1,282,898

DEPRECIATION

At 1 January 2025

169,510

160

113,152

556,285

839,107

Charge for year

15,348

-

7,958

62,094

85,400

Eliminated on disposal

-

(160

)

-

-

(160

)

At 31 December 2025

184,858

-

121,110

618,379

924,347

NET BOOK VALUE

At 31 December 2025

76,435

-

48,166

233,950

358,551

At 31 December 2024

20,848

-

6,797

158,389

186,034

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,106,877

2,292,445

Amounts owed by group undertakings

441,987

-

Amounts recoverable on contract

846,496

968,557

Other debtors

246

26,958

Prepayments

139,722

40,794

2,535,328

3,328,754