Company registration number 07511553 (England and Wales)
LIGTAS CONSULTANCY AND TRAINING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LIGTAS CONSULTANCY AND TRAINING LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 12
LIGTAS CONSULTANCY AND TRAINING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
5
272,926
331,463
Tangible assets
6
210,809
209,249
483,735
540,712
Current assets
Debtors
7
1,211,240
1,139,203
Cash at bank and in hand
55,705
54,951
1,266,945
1,194,154
Creditors: amounts falling due within one year
8
(1,562,598)
(1,352,197)
Net current liabilities
(295,653)
(158,043)
Total assets less current liabilities
188,082
382,669
Creditors: amounts falling due after more than one year
9
(98,255)
(107,419)
Net assets
89,827
275,250
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
89,826
275,249
Total equity
89,827
275,250

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 25 May 2026 and are signed on its behalf by:
Mrs A Vranch
Director
Company registration number 07511553 (England and Wales)
LIGTAS CONSULTANCY AND TRAINING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
1
137,934
137,935
Year ended 31 December 2024:
Profit and total comprehensive income
-
287,315
287,315
Dividends
-
(150,000)
(150,000)
Balance at 31 December 2024
1
275,249
275,250
Year ended 31 December 2025:
Profit and total comprehensive income
-
114,577
114,577
Dividends
-
(300,000)
(300,000)
Balance at 31 December 2025
1
89,826
89,827
LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Ligtas Consultancy and Training Limited is a private company limited by shares incorporated in England and Wales. The registered office is Axys House, Heol Crochendy, Parc Nantgarw, Cardiff, CF15 7TW.

1.1
Basis of preparation

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Ligtas Limited. These consolidated financial statements are available from its registered office, Axys House Heol Crochendy, Parc Nantgarw, Nantgarw, Cardiff, Wales, CF15 7TW.

LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.2
Going concern

The directors have adopted the going concern basis in preparing the accounts, notwithstanding net current liabilities as at 31 December 202 true 5 of £295,653 (202 4: £158,043) following a profit before tax of £114,577 (202 4: £287,315) in the period. It should be noted that of the £1,660,853 (202 4: £1,459,616) creditors at the period end, £390,271 (202 4: £467,848) is due to group undertakings, therefore the company is reliant on the continued support of its other group companies. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. The ultimate parent company, Ligtas Limited, has confirmed that it will provide such financial support as is required to enable the company to meet its obligations as they fall due, for at least the next twelve months from the date of approval of these financial statements and thereafter for the foreseeable future.

Given the inter-dependencies of Ligtas Limited, Ligtas Consultancy & Training Limited and Ligtas Services Limited, the directors have prepared their going concern assessment on combined forecasts for all entities. Directors monitor and manage headroom on a combined basis, and transfer funds between group companies as is required to meet obligations as they fall due.

The directors have prepared detailed forecasts and cashflow projections, which cover a period of at least 12 months from the date of approval of the financial statements, considering the headroom position throughout the forecast period.

Following this review and consideration of all reasonably possible changes in trading performance, there is still sufficient headroom throughout the going concern period, comprising of cash and availability on invoice discounting facilities. As such, the directors concluded that the company will be able to continue in operational existence for the foreseeable future and for at least 12 months from the signing of these financial statements. Thus, they continue to adopt the going concern basis in preparing the financial statements of the company.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.5
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.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Capitalised development costs
5 years straight line
1.6
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:

Leasehold improvements
life of the lease
Computers
3 years straight line
Motor vehicles
4 years 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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

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

LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

1.13
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.

LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2
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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Deferred tax asset

The company has recognised a deferred tax asset of £347,713 (202 4: £347,713) and has an unrecognised deferred tax asset at the year end of £919,652 (202 4: £965,376). The critical judgement relates to the company's ability to utilise the asset arising from tax losses against future taxable profits. The board has recognised deferred tax assets to the extent that they expect to be able to utilise the asset. The board does not expect to be able to utilise the full asset in the foreseeable future, therefore the board is satisfied that it's judgement to recognise part of the asset is appropriate.

Development costs

Development costs are capitalised when the directors believe that the technical, commercial and financial feasibility can be demonstrated. At 31 December 202 5 £654,835 (202 4: £594,573) of development costs had been capitalised.

Capitalised development costs are being amortised over 5 years.

The assessment of technical, commercial and financial feasibility involves significant judgement. The choice of useful economic life also includes significant judgement and the choice of life can have a significant affect on the company's results.

3
Employees

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

2025
2024
Number
Number
Total
76
70
4
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Provision of services
5,660,092
5,309,363
LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
5
Intangible fixed assets
Capitalised development costs
£
Cost
At 1 January 2025
594,573
Additions
60,262
At 31 December 2025
654,835
Amortisation and impairment
At 1 January 2025
263,110
Amortisation charged for the year
118,799
At 31 December 2025
381,909
Carrying amount
At 31 December 2025
272,926
At 31 December 2024
331,463
6
Tangible fixed assets
Leasehold improvements
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
6,323
87,378
243,788
337,489
Additions
-
0
21,120
71,854
92,974
At 31 December 2025
6,323
108,498
315,642
430,463
Depreciation and impairment
At 1 January 2025
3,550
57,862
66,828
128,240
Depreciation charged in the year
1,040
23,439
66,935
91,414
At 31 December 2025
4,590
81,301
133,763
219,654
Carrying amount
At 31 December 2025
1,733
27,197
181,879
210,809
At 31 December 2024
2,773
29,516
176,960
209,249
LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
635,042
572,136
Other debtors
228,485
219,354
863,527
791,490
Deferred tax asset
347,713
347,713
1,211,240
1,139,203
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
226,526
52,841
Obligations under finance leases
62,743
47,277
Other borrowings
4,409
10,397
Trade creditors
154,553
150,217
Amounts owed to group undertakings
390,271
467,848
Taxation and social security
392,458
343,785
Other creditors
28,645
30,425
Accruals and deferred income
302,993
249,407
1,562,598
1,352,197

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Included within Bank loans and overdrafts is an Invoice Finance Facility of £226,526 (2024: £52,841). This amount is secured by a fixed and floating legal charge.

Included within Other borrowings is a Bounce Back loan of £4,409 (2024: £14,806) which is repayable in monthly instalments over 5 years. Interest is charged monthly at 2.5%.

9
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
98,255
103,010
Other borrowings
-
0
4,409
98,255
107,419
LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company.

11
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
164,401
157,045

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totaling £27,974 (202 4: £27,439) were payable to the fund at the balance sheet date and are included in creditors due less than one year.

12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Mr John Griffiths
Statutory Auditor:
UHY Hacker Young
Date of audit report:
25 May 2026
13
Operating lease commitments
As lessee
LIGTAS CONSULTANCY AND TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13
Operating lease commitments
(Continued)
- 12 -

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

2025
2024
£
£
Total commitments
205,068
288,557
14
Related party transactions

I n accordance with FRS 102 section 33.1A, transactions with other group undertakings wholly owned within the Ligtas Limited group have not been disclosed in the financial statements.

At the year end there was a balance owed by the company to Ligtas Limted of £390,271 (2024: £467,848), this amount being included within intercompany creditors due within one year.

15
Parent company and controlling party

T he immediate and ultimate parent undertaking of Ligtas Consultancy and Training Limited is Ligtas Limited, incorporated in England and Wales. Ligtas Limited is the parent undertaking of the smallest and largest group which includes the company for which group financial statements are prepared. Copies of the group financial statements of Ligtas Limited are available from the registered office, Axys House Heol Crochendy, Parc Nantgarw, Nantgarw, Cardiff, Wales, CF15 7TW.

There is not considered to be an ultimate controlling party.

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