Nitec Solutions Ltd

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—5
Profit and Loss Account	6
Statement of Comprehensive Income	7
Balance Sheet	8
Statement of Changes in Equity	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—18

The directors present their strategic report for the year ended 30 September 2025.

Principal Activity

The company's principal activity continues to be that of Software Development and Information Technology consultancy.

Review of the Business

The results for the year show post-tax profits of £50,944 (2024 £193,539) and turnover of £11,053,307 (2024 £10,655,544).

Principal Risks and Uncertainties

The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to competition from both national and independent distributors, employee retention and product availability.

Future outlook

The external commercial environment is expected to remain competitive in 2025/26, however we remain confident that we will remain profitable in future years.

Key Performance Indicators

Given the straightforward nature of the business, the company's directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

Development and Performance

During the year, the Company continued to focus on strengthening its operational capabilities and service delivery, supporting sustainable growth and resilience. Performance remained in line with management expectations, with ongoing investment in systems, processes, and people to support future development.

On behalf of the board

Mr Nigel Kenneth Mulholland

Director

7 May 2026

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Nitec Solutions Ltd

Company No. NI033468

Directors' Report For The Year Ended 30 September 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 September 2025.

Directors

The directors who held office during the year were as follows:

Mr Mark Paul Jones

Mr Nigel Kenneth Mulholland

Mr Gavin Woods

Mr Colin Steen

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Byrd Link Audit and Accountancy Services Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Nigel Kenneth Mulholland

Director

7 May 2026

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Independent Auditor's Report

to the Members of

Nitec Solutions Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Nitec Solutions Ltd for the year ended 30 September 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit/(loss) 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.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Nitec Solutions Ltd

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and its financial operations we have considered the initial risks of non-compliance to be with UK regulators, predominantly HM Revenue & Customs and Companies Act 2006. We have assessed the breaches in such laws and regulations and considered whether any such findings would have a material impact on these financial statements. We have considered the risk of those charged with management overriding internal systems and controls and the opportunity for financial manipulation. We have considered the effects of any accounting estimates included within the financial statements and the effect this may have on the audit opinion. We have considered the risk of fraud in revenue recognition and performed substantive audit procedures on a sample basis on income.

Our audit procedures, together with our assessment of risks identified at planning, were transparent to the company and we have communicated with the client, as well as the audit engagement team, throughout the audit, and these communications include such matters as fraud and irregularity.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. Ultimately, it is the responsibility of those charged with management for the prevention and detection of fraud and irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Nitec Solutions Ltd

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Russel Byrd (Senior Statutory Auditor)

for and on behalf of Byrd Link Audit and Accountancy Services Limited , Statutory Auditor

7 May 2026

Byrd Link Audit and Accountancy Services Limited

Honeybourne Place

Jessop Avenue

Cheltenham

Gloucesterhsire

GL50 3SH

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Nitec Solutions Ltd

Profit and Loss Account

For The Year Ended 30 September 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	11,053,307	10,655,544
Cost of sales		(6,421,125 )	(6,104,072 )

GROSS PROFIT		4,632,182	4,551,472

Administrative expenses		(4,591,137 )	(4,261,315 )

OPERATING PROFIT		41,045	290,157
(Loss)/profit on disposal of fixed assets		(2,460 )	8,325
Other interest receivable and similar income	8	20,365	27,623
Interest payable and similar charges	9	(5,205 )	(103,477 )

PROFIT BEFORE TAXATION		53,745	222,628
Tax on Profit	10	(2,801 )	(29,089 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		50,944	193,539

The notes on pages 11 to 18 form part of these financial statements.

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Nitec Solutions Ltd

Statement of Comprehensive Income

For The Year Ended 30 September 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	50,944	193,539
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	50,944	193,539

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Nitec Solutions Ltd

Balance Sheet

As At 30 September 2025

Balance Sheet

Registered number: NI033468

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		491,949		587,708

			491,949		587,708
CURRENT ASSETS
Stocks	12	658,825		611,911
Debtors	13	2,318,348		1,750,052
Cash at bank and in hand		1,925,907		2,328,526

		4,903,080		4,690,489
Creditors: Amounts Falling Due Within One Year	14	(2,251,160 )		(2,140,023 )

NET CURRENT ASSETS (LIABILITIES)			2,651,920		2,550,466

TOTAL ASSETS LESS CURRENT LIABILITIES			3,143,869		3,138,174

Creditors: Amounts Falling Due After More Than One Year	15		-		(25,492 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(25,628 )		(45,385 )

NET ASSETS			3,118,241		3,067,297

CAPITAL AND RESERVES
Called up share capital	18		115		115
Revaluation reserve	22		112		112
Capital redemption reserve			13		13
Profit and Loss Account			3,118,001		3,067,057

SHAREHOLDERS' FUNDS			3,118,241		3,067,297

On behalf of the board

Mr Nigel Kenneth Mulholland

Director

7 May 2026

The notes on pages 11 to 18 form part of these financial statements.

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Nitec Solutions Ltd

Statement of Changes in Equity

For The Year Ended 30 September 2025

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£	£
As at 1 October 2023	128	112	-	3,531,276	3,531,516
Profit for the year and total comprehensive income	-	-	-	193,539	193,539

Dividends paid	-	-	-	(18,000)	(18,000)
Purchase of own shares	(13 )	-	13	(639,758 )	(639,758)

As at 30 September 2024 and 1 October 2024	115	112	13	3,067,057	3,067,297


Profit for the year and total comprehensive income	-	-	-	50,944	50,944

As at 30 September 2025	115	112	13	3,118,001	3,118,241

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Nitec Solutions Ltd

Statement of Cash Flows

For The Year Ended 30 September 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(298,371 )	1,216,019
Interest paid		(5,205 )	(103,477 )
Tax paid		(37,104 )	(107,931 )

Net cash (used in)/generated from operating activities		(340,680 )	1,004,611

Cash flows from investing activities
Purchase of tangible assets		(75,807 )	(112,924 )
Proceeds from disposal of tangible assets		30,847	10,639
Interest received		20,365	27,623

Net cash used in investing activities		(24,595 )	(74,662 )

Cash flows from financing activities
Purchase/redemption of own shares		-	(639,758 )
Equity dividends paid		-	(18,000 )
Repayment of bank borrowings		-	(36,664 )
Repayment of finance leases		(37,344 )	(11,852 )

Net cash used in financing activities		(37,344 )	(706,274 )



(Decrease)/increase in cash and cash equivalents		(402,619 )	223,675
Cash and cash equivalents at beginning of year	2	2,328,526	2,104,851

Cash and cash equivalents at end of year	2	1,925,907	2,328,526

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Nitec Solutions Ltd

Notes to the Statement of Cash Flows

For The Year Ended 30 September 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
Profit for the financial year	50,944	193,539
Adjustments for:
Tax on profit	2,801	29,089
Interest expense	5,205	103,477
Interest income	(20,365 )	(27,623 )
Depreciation of tangible assets	138,259	157,441
Loss/(profit) on disposal of tangible assets	2,460	(8,325)
Movements in working capital:
(Increase)/decrease in stocks	(46,914 )	100,477
(Increase)/decrease in trade and other debtors	(568,296 )	130,565
Increase in trade and other creditors	137,535	537,379

Net cash (used in)/generated from operations	(298,371 )	1,216,019

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,925,907	2,328,526

3. Analysis of changes in net funds

	As at 1 October 2024	Cash flows	As at 30 September 2025
	£	£	£
Cash at bank and in hand	2,328,526	(402,619)	1,925,907
Finance leases	(37,344)	37,344	-

	2,291,182	(365,275)	1,925,907

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Nitec Solutions Ltd

Notes to the Financial Statements

For The Year Ended 30 September 2025

Notes to the Financial Statements

1. General Information

Nitec Solutions Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI033468 . The registered office is Antrim Technology Park, Belfast Road, Antrim, County Antrim, BT41 1QS.

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 "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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 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:

Freehold	2% on cost
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	25% on reducing balance
Computer Equipment	33% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under 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 the profit and loss account as incurred.

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 is determined using the first-in, first-out method. 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.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. 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 and loans from banks and other third parties.

2.8. 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.

2.9. 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.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Other	155,101	258,866
Projects and development	609,687	695,702
Sales- Software and Hardware	4,043,094	3,883,056
Subscriptions and support	6,245,425	5,817,920

	11,053,307	10,655,544

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	10,880	6,750

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,754,414	2,707,782
Social security costs	321,979	279,890
Other pension costs	426,678	396,169

	3,503,071	3,383,841

6. Average Number of Employees

Average number of employees, including directors, during the year was: 70 (2024: 69)

7. Directors' remuneration

	2025	2024
	£	£
Emoluments	385,720	488,889
Company contributions to money purchase pension schemes	211,112	237,707

	596,832	726,596

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	117,770	110,209
Company contributions to money purchase pension schemes	64,536	64,820

	182,306	175,029

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	20,365	27,446
Corporation tax repayment interest	-	177

	20,365	27,623

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	3,034	3,912
Finance charges payable under finance leases and hire purchase contracts	2,171	99,565

	5,205	103,477

10. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	41,155	55,701
Prior period adjustment			(18,597 )	(19,743 )

			22,558	35,958
Deferred Tax
Origination and reversal of timing differences			(19,757 )	(6,869 )


Total tax charge for the period			2,801	29,089

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	53,745	222,628

Tax on profit at 25% (UK standard rate)	13,436	55,657
Goodwill/depreciation not allowed for tax	34,565	39,359
Expenses not deductible for tax purposes	5,602	(10,045 )
Capital allowances	(11,240 )	(26,805 )
Short term timing differences	(19,757 )	(6,869 )
Prior period adjustment	(18,597 )	(19,743 )
Difference in tax rates	(1,208 )	(384 )
Revenue exempt from taxation	-	(2,081 )

Total tax charge for the period	2,801	29,089

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

11. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2024	683,671	72,695	303,189	369,610	1,429,165
Additions	-	-	13,620	62,187	75,807
Disposals	-	(72,695 )	-	(25,144 )	(97,839 )

As at 30 September 2025	683,671	-	316,809	406,653	1,407,133

Depreciation
As at 1 October 2024	277,501	39,388	283,852	240,716	841,457
Provided during the period	16,731	-	8,239	113,289	138,259
Disposals	-	(39,388 )	-	(25,144 )	(64,532 )

As at 30 September 2025	294,232	-	292,091	328,861	915,184

Net Book Value
As at 30 September 2025	389,439	-	24,718	77,792	491,949

As at 1 October 2024	406,170	33,307	19,337	128,894	587,708

12. Stocks

	2025	2024
	£	£
Stock	658,825	611,911

13. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,172,567	1,597,802
Other debtors	145,781	152,250

	2,318,348	1,750,052

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	11,852
Trade creditors	1,191,660	1,170,034
Other creditors	318,589	225,183
Corporation tax	41,155	55,701
Taxation and social security	286,723	267,788
Accruals and deferred income	413,033	409,465

	2,251,160	2,140,023

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	25,492

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Net obligations under finance lease and hire purchase contracts	-		37,344

The bank holds a floating security over the property, moveable assets and other chattels of the company.

16. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	11,852
Later than one year and not later than five years	-	25,492

	-	37,344

	-	37,344

17. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 October 2024	45,385	45,385
Origination and reversal of timing differences	(19,757 )	(19,757 )

Balance at 30 September 2025	25,628	25,628

18. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
115 Ordinary Shares of £ 1.00 each	115	115

19. Other Commitments

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

	2025	2024
	£	£
Not later than one year	117,178	-
Later than one year and not later than five years	166,259	-

	283,437	-

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

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Nitec Solutions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

20. Pension Commitments

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

During the year the charge to the profit and loss account in respect of defined contribution schemes was £426,678 (2024: £396,169).

At the balance sheet date contributions of £36,616 (2024: £28,949) were due to the fund and are included in creditors.

21. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	-	18,000

22. Reserves

Reserves

a) Non-distributable reserve

The non-distrubtable reserve is a Capital Redemption reserve, It was created when the company purchased its own shares using distrubitable profits.

b) Profit and loss account

The profit and loss account represents the cumulative profits and losses net of dividends and other adjustments.

23. Related Party Disclosures

During the year no dividends (2024 - £18,000) were paid to the directors.

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