Ohmspace Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—6

Registered number: 12965867

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		36,458		-
Tangible Assets	5		198,681		134,331

			235,139		134,331
CURRENT ASSETS
Stocks		-		18,823
Debtors		61,703		63,129
Cash at bank and in hand		71,643		94,910

		133,346		176,862
Creditors: Amounts Falling Due Within One Year		(40,641 )		(37,690 )

NET CURRENT ASSETS (LIABILITIES)			92,705		139,172

TOTAL ASSETS LESS CURRENT LIABILITIES			327,844		273,503

Creditors: Amounts Falling Due After More Than One Year			(277,619 )		(267,091 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(31,867 )		(3,559 )

NET ASSETS			18,358		2,853

Profit and Loss Account			18,358		2,853

SHAREHOLDERS' FUNDS			18,358		2,853

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Ohmspace Ltd

Abridged Balance Sheet (continued)

As At 31 December 2025

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Dr F Romei

Director

19th May 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Ohmspace Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12965867 . The registered office is Units 8/10 Enterprise Road, Chilworth, Southampton, Hampshire, SO16 7NS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic live of 3 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% on cost
Plant & Machinery	15% on cost/prototyes 33.33% on cost
Fixtures & Fittings	15% on cost
Computer Equipment	15% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Ohmspace Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Development Costs (Intangible and Tangible Assets)

Development Costs – Intangible Fixed Assets

Development expenditure relating to internal labour has been capitalised as an intangible fixed asset where the project meets the recognition criteria in FRS 102 Section 18 Intangible Assets Other Than Goodwill. Capitalisation occurs only when the company can demonstrate that:

the technical feasibility of completing the development has been established

the company intends to complete and use or sell the resulting asset

the asset is expected to generate probable future economic benefits

adequate technical, financial and other resources are available to complete the development

the expenditure attributable to the asset can be measured reliably

Capitalised labour costs are amortised on a straight‑line basis over their estimated useful economic life of three years. The useful life is reviewed annually and adjusted if necessary. The carrying amount is assessed at each reporting date for indicators of impairment.

Prototype and Testing Costs – Tangible Fixed Assets

Expenditure incurred on the construction of physical prototypes has been capitalised as tangible fixed assets in accordance with FRS 102 Section 17 Property, Plant and Equipment. These assets are recognised when it is probable that they will provide future economic benefits and the cost can be measured reliably.

Prototype assets are depreciated on a straight‑line basis over their estimated useful economic life of three years, reflecting the period over which the assets are expected to be used in the development and testing process. The useful life and residual value are reviewed annually. Assets are assessed for impairment if events or changes in circumstances indicate that their carrying amount may not be recoverable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

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Ohmspace Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2025

4. Intangible Assets

	Total
	£
Cost
As at 1 January 2025	-
Additions	54,687

As at 31 December 2025	54,687

Amortisation
As at 1 January 2025	-
Provided during the period	18,229

As at 31 December 2025	18,229

Net Book Value
As at 31 December 2025	36,458

As at 1 January 2025	-

5. Tangible Assets

	Total
	£
Cost
As at 1 January 2025	148,354
Additions	120,494

As at 31 December 2025	268,848

Depreciation
As at 1 January 2025	14,023
Provided during the period	56,144

As at 31 December 2025	70,167

Net Book Value
As at 31 December 2025	198,681

As at 1 January 2025	134,331

6. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2025	3,559	3,559
Additions	28,308	28,308

Balance at 31 December 2025	31,867	31,867

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Ohmspace Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2025

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Dr Federico Romei	8,967	-	7,230	-	1,737

The above loan is unsecured, interest free and repayable on demand.

8. Related Party Transactions

The total owing to Ohmspace S.R.L. at the year end was £277,619 (2024 £267,091).

The total amount owing from OhmSpace S.R.L at the year end was £2,343.

9. Ultimate Controlling Party

The company's ultimate controlling party is OhmSpace S.R.L by virtue of his ownership of 100% of the issued share capital in the company.

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