IRIS Accounts Production v26.1.10.60 07688023 Board of Directors 1.7.24 30.6.25 30.6.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07688023 2024-06-30 07688023 2025-06-30 07688023 2024-07-01 2025-06-30 07688023 2023-06-30 07688023 2023-07-01 2024-06-30 07688023 2024-06-30 07688023 ns15:EnglandWales 2024-07-01 2025-06-30 07688023 ns14:PoundSterling 2024-07-01 2025-06-30 07688023 ns10:Director1 2024-07-01 2025-06-30 07688023 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 07688023 ns10:SmallEntities 2024-07-01 2025-06-30 07688023 ns10:AuditExempt-NoAccountantsReport 2024-07-01 2025-06-30 07688023 ns10:SmallCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 07688023 ns10:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 07688023 ns10:FullAccounts 2024-07-01 2025-06-30 07688023 1 2024-07-01 2025-06-30 07688023 ns10:Director2 2024-07-01 2025-06-30 07688023 ns10:Director3 2024-07-01 2025-06-30 07688023 ns10:RegisteredOffice 2024-07-01 2025-06-30 07688023 ns5:CurrentFinancialInstruments 2025-06-30 07688023 ns5:CurrentFinancialInstruments 2024-06-30 07688023 ns5:Non-currentFinancialInstruments 2025-06-30 07688023 ns5:Non-currentFinancialInstruments 2024-06-30 07688023 ns5:ShareCapital 2025-06-30 07688023 ns5:ShareCapital 2024-06-30 07688023 ns5:SharePremium 2025-06-30 07688023 ns5:SharePremium 2024-06-30 07688023 ns5:CapitalRedemptionReserve 2025-06-30 07688023 ns5:CapitalRedemptionReserve 2024-06-30 07688023 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 07688023 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 07688023 ns5:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-06-30 07688023 ns5:IntangibleAssetsOtherThanGoodwill 2024-06-30 07688023 ns5:IntangibleAssetsOtherThanGoodwill 2025-06-30 07688023 ns5:IntangibleAssetsOtherThanGoodwill 2024-06-30 07688023 ns5:PlantMachinery 2024-06-30 07688023 ns5:PlantMachinery 2024-07-01 2025-06-30 07688023 ns5:PlantMachinery 2025-06-30 07688023 ns5:PlantMachinery 2024-06-30 07688023 ns5:LeasedAssetsHeldAsLessee 2024-07-01 2025-06-30 07688023 ns5:CostValuation 2024-06-30 07688023 ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2025-06-30 07688023 ns5:CostValuation 2025-06-30 07688023 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 07688023 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30

REGISTERED NUMBER: 07688023 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th June 2025

for

Mission Digital Limited

| Mission Digital Limited (Registered number: 07688023) |

Contents of the Financial Statements

for the Year Ended 30th June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Mission Digital Limited |

Company Information

for the Year Ended 30th June 2025

| DIRECTORS: | L J Gould

| T D Mitchell

| M J Purvis

| REGISTERED OFFICE: | Unit 16

| Townsend Industrial Estate

| Waxlow Road

| London

| NW10 7NU

| REGISTERED NUMBER: | 07688023 (England and Wales)

| ACCOUNTANTS: | Sampson Fielding Ltd

| 5th Floor

| 36-38 Wigmore Street

| London

| W1U 2BP

| Mission Digital Limited (Registered number: 07688023) |

Balance Sheet

30th June 2025

| 30/6/25 | 30/6/24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 862,584 |  | 639,761 |  |

Tangible assets | 5 | 283,757 |  | 447,347 |  |

Investments | 6 | - |  | 8,598 |  |

1,146,341 |  | 1,095,706 |  |

CURRENT ASSETS

Debtors | 7 | 69,454 |  | 119,547 |  |

Prepayments and accrued income | 58,202 |  | 65,023 |  |

Cash at bank | 16,310 |  | 276,587 |  |

143,966 |  | 461,157 |  |

CREDITORS

Amounts falling due within one year | 8 | 756,059 |  | 502,424 |  |

NET CURRENT LIABILITIES | (612,093 | ) | (41,267 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 534,248 |  | 1,054,439 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (873,449 | ) | (986,947 | ) |

PROVISIONS FOR LIABILITIES | - |  | (8,364 | ) |

ACCRUALS AND DEFERRED INCOME | (29,439 | ) | (11,625 | ) |

NET (LIABILITIES)/ASSETS | (368,640 | ) | 47,503 |  |

CAPITAL AND RESERVES

Called up share capital | 10,309 |  | 10,309 |  |

Share premium | 49,644 |  | 49,644 |  |

Capital redemption reserve | 2 |  | 2 |  |

Retained earnings | (428,595 | ) | (12,452 | ) |

SHAREHOLDERS' FUNDS | (368,640 | ) | 47,503 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

| Mission Digital Limited (Registered number: 07688023) |

Balance Sheet - continued

30th June 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd May 2026 and were signed on its behalf by:

M J Purvis - Director

| Mission Digital Limited (Registered number: 07688023) |

Notes to the Financial Statements

for the Year Ended 30th June 2025

1. | STATUTORY INFORMATION

| Mission Digital 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. | 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Mission Digital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

| Intangible assets

| Intangible assets are initially recognised at cost where it is probable that there will be future economic benefits from the asset and the cost of the asset can be reliably measured. The cost of internally generated intangible assets is only recognised in the development phase of an internal project, with the cost of the research phase and maintaining or running the day-to day operations recognised as an expense. These capitalised costs comprise all directly attributable costs necessary to create, produce, and prepare the asset to be capable of operating in the manner intended by management

| After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortsation and any accumulated impairment losses.

| 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 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.

| Amortisation is charged when the intangible asset is capable of being used in the manner intended by the Company. The Directors consider that the intangible fixed asset is not yet capable of being used in the manner intended by the Company. Therefore, no amortisation is being charged.

| Tangible fixed assets

| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

| Plant & Machinery 20%

| Mission Digital Limited (Registered number: 07688023) |

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date

| Taxation

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

| Foreign currencies

| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Mission Digital Limited (Registered number: 07688023) |

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Leases are classified as finance leases where they transfer substantially all the risks and rewards of ownership to the Company. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as tangible fixed assets at the lower of their fair value and the present value of the minimum lease payments, with a corresponding liability recorded. Lease payments are split between a finance charge and a reduction in the lease liability, using the effective interest method so as to achieve a constant rate of interest on the outstanding balance.

| Assets held under finance leases are depreciated in line with the Company’s policy for tangible fixed assets. Where there is no reasonable certainty that ownership will transfer at the end of the lease, the asset is depreciated over the shorter of the lease term and its useful economic life.

| 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.

| 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.

| Investments in subsidiaries

| Investments in subsidiaries are measured at cost less any accumulated impairment losses. Impairment losses are recognised in the profit and loss account.

| Going concern note

| The Directors have prepared forecasts and cash flow projections for a period of at least 12 months from the date of approval of these financial statements. These forecasts reflect the Company's current trading position, including its existing revenue base.

| The Company is currently dependent on securing additional funding to support ongoing operations and to enable it to continue scaling new technology towards profitability. The Directors are actively progressing discussions with an existing partner for some short-term funding, which is expected to provide sufficient working capital to enable the Company to continue trading while it advances a broader fundraising process. This funding is itself contingent of the Company reaching a successful accommodation with HMRC for the repayment of accumulated PAYE and VAT liabilities.

| Whilst this creates a material uncertainty, the Directors anticipate being able to reach an agreement with HMRC and then raise new share capital. In addition, the Directors have implemented a range of mitigating actions within their control, including the ability to defer or reduce discretionary expenditure and to manage the timing of certain payments.

| Based on the above, the Directors have a reasonable expectation, based on the progress of discussions to date that the necessary settlements and funding will be obtained and therefore that the Company will be in operational existence for the foreseeable future .

| Accordingly, the Directors believe it is appropriate to prepare the financial statements on a going concern basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 19 (2024 - 19 ) .

| Mission Digital Limited (Registered number: 07688023) |

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1st July 2024 | 639,761 |  |

| Additions | 222,823 |  |

| At 30th June 2025 | 862,584 |  |

| NET BOOK VALUE

| At 30th June 2025 | 862,584 |  |

| At 30th June 2024 | 639,761 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1st July 2024 | 1,756,550 |  |

| Additions | 62,782 |  |

| Disposals | (56,775 | ) |

| At 30th June 2025 | 1,762,557 |  |

| DEPRECIATION

| At 1st July 2024 | 1,309,203 |  |

| Charge for year | 215,017 |  |

| Eliminated on disposal | (45,420 | ) |

| At 30th June 2025 | 1,478,800 |  |

| NET BOOK VALUE

| At 30th June 2025 | 283,757 |  |

| At 30th June 2024 | 447,347 |  |

| Assets held under finance leases and hire purchase agreements are included within tangible fixed assets where the Company has substantially all the risks and rewards of ownership, even if legal ownership has not yet transferred.

| These assets are initially recognised at the lower of their fair value and the present value of the lease payments, with a corresponding liability recorded. They are then depreciated in line with the Company’s other tangible fixed assets over their useful economic lives.

| Depreciation is charged on a systematic basis to reflect how the asset’s economic benefits are used over time.

| Mission Digital Limited (Registered number: 07688023) |

Notes to the Financial Statements - continued

for the Year Ended 30th June 2025

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1st July 2024 | 8,598 |  |

| Impairments | (8,598 | ) |

| At 30th June 2025 | - |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | 8,598 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30/6/25 |  | 30/6/24

£ | £ |

| Trade debtors | 32,295 |  | 53,608 |  |

| Amounts owed by group undertakings | - |  | 10,263 |  |

| Finance lease interest in

| advance | 2,510 |  | 12,846 |  |

| HP interest in advance | 3,474 |  | 11,592 |  |

| Other debtors | 31,175 |  | 31,238 |  |

69,454 |  | 119,547 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30/6/25 |  | 30/6/24

£ | £ |

| Bank loans and overdrafts | 42,662 |  | 40,000 |  |

| Hire purchase contracts | 96,745 |  | 86,121 |  |

| Trade creditors | 192,043 |  | 92,750 |  |

| Taxation and social security | 349,083 |  | 178,645 |  |

| Other creditors | 75,526 |  | 104,908 |  |

756,059 |  | 502,424 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30/6/25 |  | 30/6/24

£ | £ |

| Bank loans | 3,333 |  | 44,444 |  |

| Hire purchase contracts | 8,097 |  | 96,745 |  |

| Other creditors | 862,019 |  | 845,758 |  |

873,449 |  | 986,947 |  |

10. | RELATED PARTY DISCLOSURES

| At the year end, the Company owed the Directors £1,065 (2024 - £1,065). The amounts are unsecured, interest-free and repayable on demand