Company No: 14638585 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	John Nehme
	Frank Seo (Resigned 30 November 2025)
	Simon Turner

SECRETARY

Taylor Wessing Secretaries Limited

REGISTERED OFFICE	5 New Street Square
	London
	EC4A 3TW
	United Kingdom

COMPANY NUMBER

14638585 (England and Wales)

ACCOUNTANT	Gravita Essex Limited
	Kings House
	101-135 Kings Road
	Brentwood
	Essex
	CM14 4DR
	United Kingdom

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Intangible assets	5	54,049		150,225
Tangible assets	6	13,323		36,532
		67,372		186,757
Current assets
Debtors	7	457,835		314,549
Cash at bank and in hand		691,676		606,143
		1,149,511		920,692
Creditors: amounts falling due within one year	8	( 421,161)		( 408,186)
Net current assets		728,350		512,506
Total assets less current liabilities		795,722		699,263
Net assets		795,722		699,263
Capital and reserves
Called-up share capital		2		1
Share premium account		3,493,379		3,501,879
Equity reserve		200,000		0
Other reserves		73,412		0
Profit and loss account		( 2,971,071 )		( 2,802,617 )
Total shareholders' funds		795,722		699,263

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Beacon Medical Systems Limited (registered number: 14638585) were approved and authorised for issue by the Board of Directors on 13 May 2026. They were signed on its behalf by:

John Nehme Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
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.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the Black Scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business for £184,875 is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment

3 years straight line

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 December 2024		£		£		£
Retained Earnings		864,215		(164,952)		699,263

During the year, a misstatement was identified in the prior year financial statements relating to an overstatement over an R&D provision. Comparative figures have been restated in accordance with FRS 102. The adjustment resulted in a £164,952 decrease in retained earnings and a £164,952 decrease in prior year profit.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		12

4. Share-based payments

Equity-settled share-based payment schemes

The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are Ordinary shares granted with a fixed exercise price determined at the grant of the option. The majority of the options vest over a period of up to 4 years following the date of the grant with the remainder vesting as performance milestones are achieved. The options are exercisable until up to the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company.

Details of the share options outstanding during the financial year are as follows:

	2025			2024
	Weighted Average			Weighted Average
	Number of share options	Average exercise price (£)		Number of share options	Average exercise price (£)
Outstanding at beginning of period	0	0		0	0
Granted during the period	944	0.0001		0	0
Outstanding at the end of the period	944	0.0001		0	0
Exercisable at the end of the period	0	0		0	0

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

The Company recognised total expenses of £73,412 and £0 related to equity-settled share-based payment transactions in 2025 and 2024 respectively.

5. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	226,251		226,251
Disposals	( 118,725)		( 118,725)
At 31 December 2025	107,526		107,526
Accumulated amortisation
At 01 January 2025	76,026		76,026
Charge for the financial year	21,505		21,505
Disposals	( 44,054)		( 44,054)
At 31 December 2025	53,477		53,477
Net book value
At 31 December 2025	54,049		54,049
At 31 December 2024	150,225		150,225

6. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2025	58,080		58,080
Disposals	( 7,598)		( 7,598)
At 31 December 2025	50,482		50,482
Accumulated depreciation
At 01 January 2025	21,548		21,548
Charge for the financial year	17,113		17,113
Disposals	( 1,502)		( 1,502)
At 31 December 2025	37,159		37,159
Net book value
At 31 December 2025	13,323		13,323
At 31 December 2024	36,532		36,532

7. Debtors

	2025		2024
	£		£
Trade debtors	351,115		67,493
Corporation tax	87,031		134,880
Other debtors	19,689		112,176
	457,835		314,549

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	68,884		19,192
Other taxation and social security	70,991		117,434
Other creditors	281,286		271,560
	421,161		408,186

9. Contingencies

Contingent assets

	2025		2024
	£		£
Total contingent assets	141,939		0

The company may be entitled to deferred consideration of up to £141,939 in respect of a sale completed during the year. The receipt of this consideration is dependent on future conditions being met and is therefore contingent at the balance sheet date. No amount has been recognised in these financial statements. The directors consider it probable that an amount will be received in future periods.