Brainbox X Ltd

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

1. General Information

Brainbox X Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13562914 . The registered office is Suite 4 Business Centre, Llys Y Bont, Bangor, LL57 4BN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

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.

2.3. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:

Motor vehicles	33% Straight Line
Computer equipment	20% Straight Line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Financial Instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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Brainbox X Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

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.

2.7. Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

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.

3. Average Number of Employees

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

4. Tangible Assets

	Motor vehicles	Computer equipment	Total
	£	£	£
Cost
As at 1 September 2024	14,000	46,327	60,327
Additions	-	16,329	16,329

As at 31 August 2025	14,000	62,656	76,656

Depreciation
As at 1 September 2024	4,620	9,653	14,273
Provided during the period	4,690	12,531	17,221

As at 31 August 2025	9,310	22,184	31,494

Net Book Value
As at 31 August 2025	4,690	40,472	45,162

As at 1 September 2024	9,380	36,674	46,054

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Computer equipment	3,949	5,265

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	252,545	106,189
Other debtors	236,503	566,768

	489,048	672,957

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Brainbox X Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,264	3,277
Trade creditors	44,120	49,004
Corporation tax	37,573	113,133
Other taxes and social security	91	49
Other creditors	153,304	424,356
Accruals and deferred income	1,965	-
Director's loan account	621	372

	240,938	590,191

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,264	6,554

8. Secured Creditors

Of the creditors the following amounts are secured against the assets to which they relate.

	2025		2024
	£		£
Net obligations under finance lease and hire purchase contracts	6,527		9,831

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,264	3,277
Later than one year and not later than five years	3,264	6,554

	6,528	9,831

	6,528	9,831

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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Brainbox X Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	12,159	14,185
Later than one year and not later than five years	12,159	24,317

	24,318	38,502

12. Directors Advances, Credits and Guarantees

The director has a brought forward advance from the company of £371, during the period £330,726 was withdrawn from the company and £330,975 was introduced. The balance carried forward at year end was £621.

13. Related Party Transactions

The following related party transactions were undertaken during the period:

Dividends were paid to directors in respect of their shareholdings totalling £0 (2024: £21,549)

Dividends were paid to shareholders in respect of their shareholdings totalling £0 (2024: £300,329).

Brainbox X Limited provided loans totalling £30,000 to AR8 Developments Limited, a company in the same group, and amounts of £30,000 were repaid. At the balance sheet date, the amount receivable from the company totalled £0 (2024: £109,000).

Brainbox X Limited provided loans totalling £46,000 to Brainbox Techology Limited, a company in the same group, and amounts of £12,001 were repaid. At the balance sheet date, the amount receivable from the company totalled £33,999 (2024: £0).

Brainbox X Limited provided loans totalling £405,260 to Alpha Ludus Holding Limited, a company in the same group, and amounts of £247,750 were repaid. At the balance sheet date, the amount receivable from the company totalled £157,510 (2024: £0).

Brainbox X Limited provided loans totalling £666 to AL Old Orchid Limited, a company in the same group, and amounts of £0 were repaid. At the balance sheet date, the amount receivable from the company totalled £666 (2024: £0).

Consumer Rights Energy Limited provided loans totalling £0 to a company under common control and amounts of £1,000 were repaid (2024: provided loans totalling £1,186 and amounts of £102 were repaid). At the balance sheet date, the amount payable to the company totalled £1,657 (2024: £2,657).

No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

14. Ultimate Controlling Party

The company's ultimate controlling party is Alpha Ludus Holding Limited by virtue of their ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		45,162		46,054

			45,162		46,054
CURRENT ASSETS
Debtors	5	489,048		672,957
Cash at bank and in hand		126,192		73,779

		615,240		746,736
Creditors: Amounts Falling Due Within One Year	6	(240,938 )		(590,191 )

NET CURRENT ASSETS (LIABILITIES)			374,302		156,545

TOTAL ASSETS LESS CURRENT LIABILITIES			419,464		202,599

Creditors: Amounts Falling Due After More Than One Year	7		(3,264 )		(6,554 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(8,198 )		(8,224 )

NET ASSETS			408,002		187,821

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			408,001		187,820

SHAREHOLDERS' FUNDS			408,002		187,821