Company Registration No. 03723454 (England and Wales)
DOULOS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
DOULOS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
DOULOS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
117,500
132,500
Tangible assets
5
31,109
669,646
Investments
6
201,398
147,596
350,007
949,742
Current assets
Stocks
13,447
20,246
Debtors
7
1,502,998
327,428
Cash at bank and in hand
292,751
549,588
1,809,196
897,262
Creditors: amounts falling due within one year
8
(632,022)
(685,663)
Net current assets
1,177,174
211,599
Total assets less current liabilities
1,527,181
1,161,341
Provisions for liabilities
(2,092)
(6,129)
Net assets
1,525,089
1,155,212
Capital and reserves
Called up share capital
9
1,503
1,503
Profit and loss reserves
1,523,586
1,153,709
Total equity
1,525,089
1,155,212
DOULOS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
Mr J E Burden
Mr S T Bascal
Ms N Pandey
Director
Director
Director
Company registration number 03723454 (England and Wales)
DOULOS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 3 -
1
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 period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Doulos Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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

Consolidation

In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

2.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
over useful life
Intellectual property rights
10 years straight line
DOULOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 4 -
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
None
Furniture and equipment
15% reducing balance
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Depreciation is not provided for on the company's freehold property. It is the company's practice to maintain this asset in a continual state of sound repair, and accordingly the directors consider that the life of the property is so long, and residual value is so high, that depreciation is insignificant.

2.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.6
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

2.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2.8
Financial instruments
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DOULOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 5 -
2.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, 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

Deferred tax is recognised in respect of all 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.

2.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
27
27
DOULOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
4
Intangible fixed assets
Software
Intellectual property rights
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
17,949
150,000
167,949
Amortisation and impairment
At 1 January 2025
17,949
17,500
35,449
Amortisation charged for the year
-
0
15,000
15,000
At 31 December 2025
17,949
32,500
50,449
Carrying amount
At 31 December 2025
-
0
117,500
117,500
At 31 December 2024
-
0
132,500
132,500
5
Tangible fixed assets
Freehold land and buildings
Furniture and equipment
Computers
Total
£
£
£
£
Cost
At 1 January 2025
617,392
221,862
224,084
1,063,338
Additions
-
0
337
3,542
3,879
Disposals
(617,392)
(137,006)
(35,596)
(789,994)
At 31 December 2025
-
0
85,193
192,030
277,223
Depreciation and impairment
At 1 January 2025
-
0
186,690
207,002
393,692
Depreciation charged in the year
-
0
3,735
10,849
14,584
Eliminated in respect of disposals
-
0
(126,566)
(35,596)
(162,162)
At 31 December 2025
-
0
63,859
182,255
246,114
Carrying amount
At 31 December 2025
-
0
21,334
9,775
31,109
At 31 December 2024
617,392
35,172
17,082
669,646
DOULOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
28,863
28,863
Loans to group undertakings and participating interests
100,078
50,116
Other investments other than loans
72,457
68,617
201,398
147,596
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Other reserves
Total
£
£
£
£
Cost or valuation
At 1 January 2025
28,863
50,116
68,617
147,596
Additions
-
1,971,089
-
1,971,089
Valuation changes
-
11,406
3,840
15,246
Repayments
-
(1,932,533)
-
(1,932,533)
At 31 December 2025
28,863
100,078
72,457
201,398
Carrying amount
At 31 December 2025
28,863
100,078
72,457
201,398
At 31 December 2024
28,863
50,116
68,617
147,596
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
376,195
239,304
Other debtors
1,126,803
88,124
1,502,998
327,428
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
303,631
267,050
Taxation and social security
67,200
177,506
Other creditors
261,191
241,107
632,022
685,663
DOULOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary - Class A shares of £1 each
1,275
1,275
1,275
1,275
Ordinary - Class B shares of £1 each
225
225
225
225
Ordinary - Class C shares of 1p each
256
256
3
3
1,756
1,756
1,503
1,503
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
10,997
3,215
10,997
3,215
11
Related party transactions

On 12 May 2022 Doulos Employee Ownership Trust (the Trust) acquired 85% of the share capital of Doulos Limited. Doulos Limited will be making capital contributions to the Trust over an 8 year period to cover amounts owed to the exiting shareholders. During the year Doulos Limited made gifts totalling £433,108 (2024: £752,165) to the Trust.

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