REGISTERED NUMBER: 05530440 (England and Wales)

WCBS GROUP LIMITED

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

C G Clarke

J N Harrison

SECRETARY:

J N Harrison

REGISTERED OFFICE:

Unit 1 Landmark House

Wirrall Park Road

Glastonbury

Somerset

BA6 9FR

REGISTERED NUMBER:

05530440 (England and Wales)

AUDITORS:

MHA Audit Services LLP

Statutory Auditor

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

The directors present their strategic report of the company and the group for the year ended 31 August 2025.

REVIEW OF BUSINESS

As at 31 August 2025, the Group's financial arrangements consisted a right of set off across all of the groups bank accounts, to benefit from the cyclical nature of various subsidiary companies, and Government backed pandemic related term loans totalling £8k at year end.

The Group's forecasts and projections, taking account of reasonably possible changes in trading performance show that the Group will be able to operate within the level of its facilities for a forecast period of at least 12 months from the approval date of these financial statements. Accordingly, the Group continues to adopt the going concern basis in preparing its consolidated financial statements.

The uncertainty as to any future impact on the Group of the current economic climate has been considered as part of the Group's adoption of the going concern basis. The Board has revisited its forecast for the 12-month period ending December 2026 and has concluded that the Group has sufficient financial resources during this period to conclude that the business remains a going concern.

The resilience of the business is underpinned by a large proportion of the groups revenue being generated by recurring software maintenance revenue with customers who provide services in the education sector and who will continue to trade throughout any economic uncertainty.

Our business planning and mitigating activities have been driven by our key priorities during the current period of economic uncertainty - having flexibility to respond to the needs of the customers and staff. As part of our business planning and mitigating activities, we monitor activities daily in order to form business decisions to achieve those priorities., We are confident that, we can take sufficient mitigation action to ensure that our cash resources remain sufficient over the forecast period.

PRINCIPAL RISKS AND UNCERTAINTIES

Global economy

In common with most companies across all sectors, the ripple effect of the uncertainties in the Global markets and in Europe regarding Coronavirus and the Ukraine war represents a challenge. However, market share and customer retention remain strong.

Technology

Continuing to offer relevant and reliable solutions to the sector we operate in, remains a key strategic consideration. Processes are in place to ensure we continue to offer our sector leading edge solutions through developing our own next generation solutions as well as developing key partnerships and considering appropriate technical acquisitions.

Interest rate risk

The Group finances its operations through a mixture of retained profits, intercompany accounts and bank borrowings. The Group's exposure to interest rate fluctuations on its borrowings is managed on a Group basis by the use of fixed and floating charges.

Liquidity risk

The Group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Primarily this is achieved through intercompany accounts or through loans arranged at Group level.

FUTURE DEVELOPMENTS

The group continues to develop its product offering to support the education sector and looks forward to the future with confidence.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors use many performance indicators, both financial and non-financial, to monitor the group's position. These include, but are not limited to revenue, margin, cash flow, measured monthly against budgets and forecasts. In addition, many of our teams employ agile - methodologies which allows us to clearly monitor performance and progress toward agreed business objectives. We report a gross profit margin of 74% this year which is a decrease on the prior year margin of 75%.

ON BEHALF OF THE BOARD:

J N Harrison - Director

12 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of software development

DIVIDENDS

No dividends will be distributed for the year ended 31 August 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2024 to the date of this report.

C G Clarke

J N Harrison

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

J N Harrison - Director

12 December 2025

Opinion

We have audited the financial statements of WCBS Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 August 2025 and of the group's loss 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

-

Enquiry of entity staff to identify any instances of non-compliance with laws and regulations;

-

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

-

Reviewing minutes of meetings of those charged with governance

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-and-guidance-for-auditors/A uditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.

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.

Laura Farrow MSc BSc FCA (Senior Statutory Auditor)

for and on behalf of MHA Audit Services LLP

Elfed House

CARDIFF

CF23 8RS

17 December 2025

MHA is the trading name of MHA Audit Services LLP, a limited liability

partnership in England and Wales (registered number OC455542)

TURNOVER

3

3,911,535

3,899,981

Cost of sales

(998,779

)

(987,730

)

GROSS PROFIT

2,912,756

2,912,251

Administrative expenses

(3,263,968

)

(4,098,136

)

OPERATING LOSS

5

(351,212

)

(1,185,885

)

Interest payable and similar expenses

6

(4,863

)

(3,655

)

LOSS BEFORE TAXATION

(356,075

)

(1,189,540

)

Tax on loss

7

-

109,050

LOSS FOR THE FINANCIAL YEAR

(356,075

)

(1,080,490

)

Loss attributable to:

Owners of the parent

(356,075

)

(1,080,490

)

LOSS FOR THE YEAR

(356,075

)

(1,080,490

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(356,075

)

(1,080,490

)

Total comprehensive income attributable to:

Owners of the parent

(356,075

)

(1,080,490

)

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

49,888

51,708

Investments

11

-

-

49,888

51,708

CURRENT ASSETS

Debtors

12

3,896,087

4,751,576

Cash at bank and in hand

6,427

10,631

3,902,514

4,762,207

CREDITORS

Amounts falling due within one year

13

(9,088,176

)

(9,584,835

)

NET CURRENT LIABILITIES

(5,185,662

)

(4,822,628

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,135,774

)

(4,770,920

)

CREDITORS

Amounts falling due after more than one year

14

-

(8,779

)

NET LIABILITIES

(5,135,774

)

(4,779,699

)

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

(5,135,874

)

(4,779,799

)

SHAREHOLDERS' FUNDS

(5,135,774

)

(4,779,699

)

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

J N Harrison - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

3,775,000

3,775,000

3,775,000

3,775,000

CURRENT ASSETS

Debtors

12

1,670,945

1,670,945

Cash at bank

53

53

1,670,998

1,670,998

CREDITORS

Amounts falling due within one year

13

(5,444,332

)

(5,444,332

)

NET CURRENT LIABILITIES

(3,773,334

)

(3,773,334

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,666

1,666

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

1,566

1,566

SHAREHOLDERS' FUNDS

1,666

1,666

Company's profit for the financial year

-

-

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

J N Harrison - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

100

(3,699,309

)

(3,699,209

)

Changes in equity

Total comprehensive income

-

(1,080,490

)

(1,080,490

)

Balance at 31 August 2024

100

(4,779,799

)

(4,779,699

)

Changes in equity

Total comprehensive income

-

(356,075

)

(356,075

)

Balance at 31 August 2025

100

(5,135,874

)

(5,135,774

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

100

1,566

1,666

Changes in equity

Balance at 31 August 2024

100

1,566

1,666

Changes in equity

Balance at 31 August 2025

100

1,566

1,666

Cash flows from operating activities

Cash generated from operations

1

246,980

(851,715

)

Interest paid

(4,863

)

(3,655

)

Tax paid

109,050

350,186

Net cash from operating activities

351,167

(505,184

)

Cash flows from investing activities

Purchase of tangible fixed assets

(9,601

)

-

Net cash from investing activities

(9,601

)

-

Cash flows from financing activities

Loan repayments in year

(10,289

)

(10,034

)

Amount introduced by group

-

12,219

Amount withdrawn by group

(6,087

)

-

Net cash from financing activities

(16,376

)

2,185

Increase/(decrease) in cash and cash equivalents

325,190

(502,999

)

Cash and cash equivalents at beginning of year

2

(805,360

)

(302,361

)

Cash and cash equivalents at end of year

2

(480,170

)

(805,360

)

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

2025

2024

£

£

Loss before taxation

(356,075

)

(1,189,540

)

Depreciation charges

11,421

12,928

Finance costs

4,863

3,655

(339,791

)

(1,172,957

)

Decrease in trade and other debtors

746,439

215,345

(Decrease)/increase in trade and other creditors

(159,668

)

105,897

Cash generated from operations

246,980

(851,715

)

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 August 2025

31/8/25

1/9/24

£

£

Cash and cash equivalents

6,427

10,631

Bank overdrafts

(486,597

)

(815,991

)

(480,170

)

(805,360

)

Year ended 31 August 2024

31/8/24

1/9/23

£

£

Cash and cash equivalents

10,631

20,006

Bank overdrafts

(815,991

)

(322,367

)

(805,360

)

(302,361

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/9/24

Cash flow

At 31/8/25

£

£

£

Net cash

Cash at bank and in hand

10,631

(4,204

)

6,427

Bank overdrafts

(815,991

)

329,394

(486,597

)

(805,360

)

325,190

(480,170

)

Debt

Debts falling due within 1 year

(10,289

)

1,510

(8,779

)

Debts falling due after 1 year

(8,779

)

8,779

-

(19,068

)

10,289

(8,779

)

Total

(824,428

)

335,479

(488,949

)

1.	STATUTORY INFORMATION

WCBS Group Limited 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 General 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.

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS102, being 1 September 2015.

Going concern

WCBS Group Limited is part of a group treasury function, headed up by its ultimate parent Westleigh Investments Holdings Limited. Due to not having its own funding facility, WCBS Group Limited and its subsidiaries are reliant on the support of the parent and its shareholders to continue as a going concern.

As at 31 August 2025, the consolidated Balance Sheet is showing net liabilities of £5,135,774 (2024: £4,779,699). After making enquiries and reviewing forecasts to 31 December 2026, the Directors have a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future.

In addition, although not legally obliged, the directors have confirmed that they will continue to financially support the group, throughout the going concern period to meet liabilities as they fall due. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Many of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on management's best knowledge of the relevant facts and circumstances, having regards to prior experience, but actual results may differ from the amounts included in the financial statements. Information about such judgements and estimation is contained in the accounting policies and/or the notes to the financial statements.

The areas where the directors consider there to be significant areas of judgements or estimation are:

Going concern

The directors exercise judgement when preparing and reviewing forecasts, and considering whether the company is a going concern.

Turnover

Turnover comprises revenue recognised by the Group in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Software sales are recognised in the period in which the software is installed. Hardware sales are recognised in the period in which the hardware is delivered.

Software maintenance income is invoiced periodically in advance. It is held as deferred income in the balance sheet and released to turnover on a straight line basis over the period to which it relates.

An element of training income is invoiced in advance and released to turnover on delivery of service.

Turnover from recruitment fees is recognised on the date the offer is formally accepted by a candidate. A provision is made against sales for possible cancellation of placements prior to, or after, the commencement of employment.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill was amortised on a straight line basis to the Consolidated Income Statement over its useful economic life.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of the its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided on the following basis:

Fixtures and fittings

2 to 6 years

Office equipment

3 to 6 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs

Finance costs are charged to the Consolidated Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

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

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

3,895,601

3,895,081

Rest of the world

15,934

4,900

3,911,535

3,899,981

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,127,565

2,528,843

Social security costs

252,413

264,152

Other pension costs

72,926

90,213

2,452,904

2,883,208

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

2025

2024

Management

5

8

Administration

3

1

Development and products

17

20

Sales and marketing

4

6

Service and support

15

23

44

58

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL).

2025

2024

£

£

Directors' remuneration

91,746

100,800

Directors' pension contributions to money purchase schemes

3,397

4,000

5.	OPERATING LOSS

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

2025

2024

£

£

Other operating leases

31,412

31,868

Depreciation - owned assets

11,421

12,928

Auditors' remuneration

22,500

21,150

Foreign exchange differences

176

(40

)