REGISTERED NUMBER: 03752925 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 December 2025

for

PLANON LTD

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTOR:

A P Ankerstjerne

REGISTERED OFFICE:

161-163 Preston Road

Brighton

East Sussex

BN1 6AU

REGISTERED NUMBER:

03752925 (England and Wales)

AUDITORS:

Feist Hedgethorne Limited

Statutory Auditors

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

The director presents his strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

In 2025 total revenue increased by 10.8% to £14,159,858 (2024: £12,778,751). The profit before tax has decreased to £1,958,319 (2024: £2,276,826). During the 2025 financial year, the average number of staff employed in the company, converted into full-time equivalents, amounted to 49 (2024: 41).

Planon continued its commitment to growth by expanding its partner programme. Collaborations with partners across all markets continue to be a key focal point for the organisation. The management team firmly believes that this cooperative model, which involves selling and delivering solutions through partnerships, will continue to enhance Planon’s position in the market and drive growth in all areas.

Planon is a financially healthy company. Monitoring, analysing and forecasting of costs, revenues and investments enables us to seize opportunities and to notice threats in time. This review process, that again has been further sophisticated and aligned by using additional management tools and the improvement of existing ones, is an ongoing part of Planon’s overall management process. The company strives for continuous business improvement and has therefore again executed its internal continuous improvement programme that contributes to the results of Planon.

PRINCIPAL RISKS AND UNCERTAINTIES

Risk management

Management continuously evaluates the company’s main risk categories. Risks are mainly identified in the categories related to finance and reporting, strategic and business risks, and risks related to our operations.

Finance and reporting

Financial instruments mainly consist of primary financial instruments such as loans granted, trade and other receivables, cash items and trade and other payables.

Credit Risk

The company is exposed to credit risk on transactions. This risk is related to the loss that may be incurred should customers not pay for delivered products or services. This risk is limited due to the large number and diversity of the company's debtors and the strong efforts of the credit control department. In 2025, the DSO has been reduced due to the various measures that have been taken. Historically, very few customers have defaulted on payments. Planon will keep looking for improvements and keep the DSO at an acceptable level.

Interest rate risk

The company does not face significant interest rate risks and so no mitigating actions has been taken.

Liquidity risk

Liquidity risk is mitigated by the good procedures in place regarding the Order to Cash - as well as the Purchase to Pay Business cycle. The liquidity generated by the cash flow from operating activities is sufficient to meet obligations.

Foreign exchange risk

Foreign exchange risk is limited as the majority of the company’s transactions are denominated in Sterling, which is its functional currency, thereby minimising exposure to fluctuations in foreign exchange rates.

Strategic and business risk

The market for smart building software is changing rapidly. With the increased importance of data in the office buildings and growing market for smart buildings, more and larger players from both the hardware and software domains are entering this market. The main business risk is directed to the company's ability to stay ahead as market leader in its core segments and to maintain and grow its customer base. The company will continue closely monitoring any change in demand and supply in the market. In close collaboration with customers and with technology partners, The company will take decisions regarding our product strategy, roadmap and other investments required to remain a market leader.

Operations risk

The company’s operations risk is mainly quantified around its ability to operate its software in a safe and sustainable environment and its ability to attract and retain workforce to be able to manage its operations and its products.

ON BEHALF OF THE BOARD:

A P Ankerstjerne - Director

5 June 2026

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company is the provider of Smart Sustainable Building Management software. We

support Corporate Real Estate Management and Facilities Management activities with our solutions for Real Estate Management, Space & Workplace Services Management, Asset & Maintenance Management and Energy & Sustainability Management.

DIVIDENDS

An interim dividend of £59 per Ordinary £1 share was paid on 25 June 2025. The director recommends that no final dividend be paid on these shares. No interim dividend was paid on the £1 Preference shares. The director recommends that no final dividend be paid on these shares.

FUTURE DEVELOPMENTS

The director is confident that the company will continue to be profitable in the forthcoming year.

DIRECTORS

The directors who have held office during the period from 1 January 2025 to the date of this report are as follows:

A P Ankerstjerne - appointed 16 January 2025

Planon Group B.V. - resigned 16 January 2025

FINANCIAL INSTRUMENTS

The company does not have excessive exposure to risks in respect of price, credit, liquidity and cash flow risk. The company’s financial instruments are largely traded in the functional currency and the company does not use hedge accounting in respect of its financial instruments.

GOING CONCERN

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.

DIRECTORS INDEMNITIES

The company has not made qualifying third party indemnity payments for the benefit of the directors during the year.

ENGAGEMENT WITH EMPLOYEES

The company recognises the importance of good communications and relations with staff and uses a number of methods of keeping staff informed of performance and developments in the group.

New members of staff attend an induction course which gives them an initial understanding of the company and its business and makes them aware of matters directly concerning their employment. Great importance is attached to staff training and development at all levels.

DISCLOSURE IN THE STRATEGIC REPORT

Certain matters required by regulation to be dealt with in the annual report have been dealt with in the Strategic Report rather than in the Directors' Report. These include principal risks and uncertainties.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

A P Ankerstjerne - Director

5 June 2026

Opinion

We have audited the financial statements of Planon Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

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.

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 Auditors' 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 director's 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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 the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

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 Report of the Director.

We have nothing to report in respect of the following matters where 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 and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

The extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the telecommunications industry;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

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 we are required to state to them in a Report of the Auditors 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.

Chris Morey (Senior Statutory Auditor)

for and on behalf of Feist Hedgethorne Limited

Statutory Auditors

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

8 June 2026

TURNOVER

3

14,159,858

12,778,751

Cost of sales

(5,316,197

)

(6,046,307

)

GROSS PROFIT

8,843,661

6,732,444

Administrative expenses

(6,989,909

)

(4,569,582

)

OPERATING PROFIT

5

1,853,752

2,162,862

Interest receivable and similar income

104,567

113,964

PROFIT BEFORE TAXATION

1,958,319

2,276,826

Tax on profit

6

(495,032

)

(568,492

)

PROFIT FOR THE FINANCIAL YEAR

1,463,287

1,708,334

PROFIT FOR THE YEAR

1,463,287

1,708,334

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,463,287

1,708,334

FIXED ASSETS

Tangible assets

9

107,474

138,495

CURRENT ASSETS

Debtors

10

3,904,449

4,215,956

Cash at bank and in hand

4,127,891

3,471,473

8,032,340

7,687,429

CREDITORS

Amounts falling due within one year

11

(6,551,869

)

(5,929,001

)

NET CURRENT ASSETS

1,480,471

1,758,428

TOTAL ASSETS LESS CURRENT LIABILITIES

1,587,945

1,896,923

PROVISIONS FOR LIABILITIES

13

(969

)

(3,234

)

NET ASSETS

1,586,976

1,893,689

CAPITAL AND RESERVES

Called up share capital

14

120,807

120,807

Retained earnings

15

1,466,169

1,772,882

SHAREHOLDERS' FUNDS

1,586,976

1,893,689

The financial statements were approved by the director and authorised for issue on 5 June 2026 and were signed by:

A P Ankerstjerne - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

120,807

2,464,548

2,585,355

Changes in equity

Total comprehensive income

-

1,708,334

1,708,334

Dividends

-

(2,400,000

)

(2,400,000

)

Balance at 31 December 2024

120,807

1,772,882

1,893,689

Changes in equity

Total comprehensive income

-

1,463,287

1,463,287

Dividends

-

(1,770,000

)

(1,770,000

)

Balance at 31 December 2025

120,807

1,466,169

1,586,976

Cash flows from operating activities

Cash generated from operations

1

2,920,315

3,171,772

Tax paid

(598,464

)

(991,580

)

Net cash from operating activities

2,321,851

2,180,192

Cash flows from investing activities

Purchase of tangible fixed assets

-

(5,998

)

Interest received

104,567

113,964

Net cash from investing activities

104,567

107,966

Cash flows from financing activities

Equity dividends paid

(1,770,000

)

(2,400,000

)

Net cash from financing activities

(1,770,000

)

(2,400,000

)

Increase/(decrease) in cash and cash equivalents

656,418

(111,842

)

Cash and cash equivalents at beginning of year

2

3,471,473

3,583,315

Cash and cash equivalents at end of year

2

4,127,891

3,471,473

1.	RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Operating profit

1,853,752

2,162,862

Depreciation charges

31,020

35,887

1,884,772

2,198,749

Decrease/(increase) in trade and other debtors

311,507

(542,615

)

Increase in trade and other creditors

724,036

1,515,638

Cash generated from operations

2,920,315

3,171,772

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

4,127,891

3,471,473

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

3,471,473

3,583,315

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

3,471,473

656,418

4,127,891

3,471,473

656,418

4,127,891

Total

3,471,473

656,418

4,127,891

1.	STATUTORY INFORMATION

Planon Ltd 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 in 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and these 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the useful economic life of tangible fixed assets, the depreciation and amortisation of these assets, provisions, and the recoverability of debtors.

Key sources of estimation uncertainty:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are depreciated over the approved depreciation rates. The carrying amount of tangible fixed assets is £107,474 (2024: £138,495) as noted in note 9.

No significant judgements have been made by management in preparing these financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

- The amount of revenue can be reliably measured;

- it is probable that future economic benefits will flow to the entity; and

- specific criteria have been met for each of the company's activities.

Where consideration is received or invoiced in advance of satisfying the above conditions, the amount is recognised as deferred income within creditors in the balance sheet. Deferred income is released to turnover as the related services are performed, by reference to the stage of completion of the contract.

Tangible fixed assets

Tangible fixed assets are stated at cost, or deemed cost, less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Furniture, fittings & equipment

-

25-33% on cost

Land & buildings

-

over the term of the lease

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 recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the

respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary

items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary

course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade

debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve

months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months

after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost

using the effective interest method.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has not further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability on the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Financial instruments

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

In accordance with FRS 102, the cost of any unused holiday entitlement should be recognised in the period in which the employee's services are received. The company has reviewed the potential provision and has considered the amount to be immaterial.

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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Service

3,295,556

2,083,749

Software

8,578,360

6,945,463

Support

2,285,942

3,749,539

14,159,858

12,778,751

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,391,059

3,596,811

Other pension costs

214,647

180,442

4,605,706

3,777,253

The average number of employees during the year was as follows:

2025

2024

Admin

49

41

2025

2024

£

£

Directors' remuneration

-

-

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Other operating leases

65,440

65,440

Depreciation - owned assets

31,021

35,887

Auditors' remuneration

21,540

15,073

Foreign exchange differences

30,257

35,280

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

497,296

577,832

Deferred tax

(2,264

)

(9,340

)

Tax on profit

495,032

568,492

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

1,770,000

2,400,000

8.	SECURED DEBTS

National Deposit Friendly Society Limited has a registered charge on the company in the respect of a rent deposit deed.

9.	TANGIBLE FIXED ASSETS

Furniture,

fittings

Improvements

and

to property

equipment

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

192,664

176,958

369,622

DEPRECIATION

At 1 January 2025

69,692

161,435

231,127

Charge for year

21,499

9,522

31,021

At 31 December 2025

91,191

170,957

262,148

NET BOOK VALUE

At 31 December 2025

101,473

6,001

107,474

At 31 December 2024

122,972

15,523

138,495

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,239,809

1,952,699

Amounts owed by group undertakings

2,243,098

2,150,252

Other debtors

5,729

6,365

Prepayments & accrued income

415,813

106,640

3,904,449

4,215,956