REGISTERED NUMBER: 10055041 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

STL TECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Stirling

REGISTERED OFFICE:

Science Creates Old Market,

Midland Road

Bristol

BS2 OJZ

REGISTERED NUMBER:

10055041 (England and Wales)

ACCOUNTANTS:

TC Group

1st Floor

5-7 Portugal Place

Cambridge

Cambridgeshire

CB5 8AF

FIXED ASSETS

Intangible assets

5

1,626,103

1,711,688

Tangible assets

6

27,736

23,847

Investments

7

20,001

20,001

1,673,840

1,755,536

CURRENT ASSETS

Debtors

8

198,492

468,697

Cash and cash equivalents

44,848

24,701

243,340

493,398

CREDITORS

Amounts falling due within one year

9

(425,802

)

(336,331

)

NET CURRENT (LIABILITIES)/ASSETS

(182,462

)

157,067

TOTAL ASSETS LESS CURRENT LIABILITIES

1,491,378

1,912,603

CREDITORS

Amounts falling due after more than one year

10

(8,191

)

(1,667

)

PROVISIONS FOR LIABILITIES

12

(413,460

)

(438,884

)

NET ASSETS

1,069,727

1,472,052

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

1,069,722

1,472,047

SHAREHOLDERS' FUNDS

1,069,727

1,472,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 May 2026 and were signed by:

P Stirling - Director

1.	STATUTORY INFORMATION

Stl Tech 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. At the balance sheet date, the company’s current liabilities exceeded its current assets by £182,468 and the company reported a loss for the financial year ended 31 March 2026.

In assessing the appropriateness of the going concern basis, the directors have considered the company’s forecasts, anticipated future trading performance and available financial resources. The company continues to be supported by funding provided by its director and, based on current circumstances, the directors consider it unlikely that repayment of amounts owed to the director will be required in the short term.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover relates to the sale of pre-production equipment for the purpose of further development and testing. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership

of the goods has transferred to the buyer. This is usually at the point that the customer has signed

for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of

the contract. The stage of completion of a contract is measured by comparing the costs incurred

for work performed to date to the total estimated contract costs. Turnover is only recognised to

the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated losses.

Development costs are being amortised evenly over their estimated useful life of 20 years.

Tangible fixed assets

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

Plant and machinery

-

33.33% on cost

Computer equipment

-

20% on cost

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 is written off in the year it is incurred. Costs on development of new

products for commercial resale is capitalised and amortised over the usual life of the product from

when the products are brought into use.

Pension costs and other post-retirement benefits

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the performance model.

The grant will therefore be recognised in other income when the grant proceeds are received or receivable provided the terms of the grant do not impose future performance related conditions.

If the terms of the grant do impose future performance related conditions, the grant is only recognised in income when the performance related conditions are met.

Any grants that are received before the recognition criteria is met are recognised in the entity's financial statements as a liability.

Investments

Shares in unlisted companies are recorded at cost less accumulated impairment losses. Unlisted investments are reviewed at each reporting date for signs of impairment. Losses arising from impairment are recorded in the profit and loss in the year in which the impairment is believed to have arisen.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2025 - 18 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

1,711,688

AMORTISATION

Charge for year

85,585

At 31 March 2026

85,585

NET BOOK VALUE

At 31 March 2026

1,626,103

At 31 March 2025

1,711,688

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

84,831

Additions

20,211

At 31 March 2026

105,042

DEPRECIATION

At 1 April 2025

60,984

Charge for year

16,322

At 31 March 2026

77,306

NET BOOK VALUE

At 31 March 2026

27,736

At 31 March 2025

23,847

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2025

and 31 March 2026

20,001

NET BOOK VALUE

At 31 March 2026

20,001

At 31 March 2025

20,001

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

13,429

236,731

Other debtors

185,063

231,966

198,492

468,697

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,667

10,000

Hire purchase contracts (see note 11)

5,460

-

Trade creditors

28,429

55,770

Taxation and social security

125,197

141,669

Other creditors

265,049

128,892

425,802

336,331

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

1,667

Hire purchase contracts (see note 11)

8,191

-

8,191

1,667

11.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

5,460

-

Between one and five years

8,191

-

13,651

-

Non-cancellable

operating leases

2026

2025

£

£

Within one year

36,118

61,917

Between one and five years

-

36,118

36,118

98,035

STL has an option to cancel its lease with three months notice.

12.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

413,460

438,884

Deferred

tax

£

Balance at 1 April 2025

438,884

Credit to Profit and loss account during year

(25,424

)

Balance at 31 March 2026

413,460

13.	RELATED PARTY DISCLOSURES

The director has loaned the company £192,532 (2025: £81,032). The loan is interest free, repayable on demand and is disclosed within creditors falling due within one year. The director considers it unlikely that repayment of this loan will be required within the next twelve months.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is P Stirling.

15.	DIRECTORS REMUNERATION

During the year, retirement benefits were accruing to 2 directors (2024: 2) in respect of money purchase schemes.

16.	JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Judgements in Applying Accounting Policies

In preparing these financial statements, the directors have made judgements in the application of accounting policies that have a significant effect on the amounts recognised:

Capitalisation of development expenditure

The directors have judged that the development projects meet the criteria for recognition as intangible assets under FRS 102. This assessment includes consideration of the technical feasibility of the projects, the availability of resources to complete them and the expectation that the assets will generate future economic benefits.

Revenue recognition

Judgement is required in determining the stage of completion of service-related contracts where revenue is recognised by reference to costs incurred compared with total estimated costs. This involves an assessment of expected total project costs and the recoverability of the contract value.

KEY SOURCES OF ESTIMATION UNCERTAINTY

The financial statements contain estimates and assumptions that may affect the reported amounts of assets and liabilities. The key sources of estimation uncertainty that present a significant risk of material adjustment within the next financial year are:

Carrying value of development assets

The development costs capitalised within intangible assets are assessed for indicators of impairment. The recoverability of these assets is dependent on the future commercial performance of the associated products. Management’s assessment involves estimates of future demand, technical progress and expected cash flows. No impairment was identified.

Deferred tax liability

The deferred tax liability arises mainly from temporary differences relating to capitalised development costs. The calculation requires estimation of the timing and future tax effects of the reversal of these differences. Changes in tax rates or expected utilisation may result in material adjustments.

17.	DETAILED TAX NOTE

Taxation credit consisted of £25,424 movement of deferred tax and a payable tax credit relating to research and development of £154,898.