Elecsys Technologies Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13821253

Elecsys Technologies Limited

Filleted Financial Statements

31 December 2025

Elecsys Technologies Limited

Balance Sheet

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	802,700	615,787
Tangible assets	6	1,673	8,623
		---------	---------
		804,373	624,410

Current assets

Debtors	7	46,224	20,914
Cash at bank and in hand		32,365	993
		--------	--------
		78,589	21,907

Creditors: amounts falling due within one year	8	( 46,142)	( 14,514)
		--------	--------
Net current assets		32,447	7,393
		---------	---------
Total assets less current liabilities		836,820	631,803

Creditors: amounts falling due after more than one year	9	( 1,126,282)	( 1,050,557)
		------------	------------
Net liabilities		( 289,462)	( 418,754)
		------------	------------

Capital and reserves

Paid up share capital	10	625,100	100
Profit and loss account		( 914,562)	( 418,854)
		---------	---------
Shareholders deficit		( 289,462)	( 418,754)
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 26 June 2026 , and are signed on behalf of the board by:

C J Topp

Director

Company registration number: 13821253

Elecsys Technologies Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Mercury Court, Orion Business Park, North Shields, NE29 7SN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the date of the financial statements approval, the directors have a reasonable expectation that the company has adequate resources to continue to trade for the foreseeable future. The company continues to have the support of its parent company and fellow group undertakings, therefore the going concern basis of accounting remains appropriate.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	15% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 3 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2025	689,696
Additions	–
Additions from internal developments	335,996
	------------
At 31 December 2025	1,025,692
	------------
Amortisation
At 1 January 2025	73,909
Charge for the year	149,083
	------------
At 31 December 2025	222,992
	------------
Carrying amount
At 31 December 2025	802,700
	------------
At 31 December 2024	615,787
	------------

6. Tangible assets

	Plant and machinery
	£
Cost
At 1 January 2025	25,748
Additions	1,832
	--------
At 31 December 2025	27,580
	--------
Depreciation
At 1 January 2025	17,125
Charge for the year	8,782
	--------
At 31 December 2025	25,907
	--------
Carrying amount
At 31 December 2025	1,673
	--------
At 31 December 2024	8,623
	--------

7. Debtors

	2025	2024
	£	£
Other debtors	46,224	20,914
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	29,568	5,750
Social security and other taxes	12,018	4,012
Other creditors	4,556	4,752
	--------	--------
	46,142	14,514
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,126,282	1,050,557
	------------	------------

The amount due to fellow group undertakings above are unsecured and interest bearing and disclosed as falling due in greater than one year as at least a years notice must be given for any repayment.

10. Paid up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.10 (2024 - £ 1) each	6,251,000	625,100	100	100
	------------	---------	----	----

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.10 (2024 - £ 1) each	6,251,000	625,100	100	100
	------------	---------	----	----

During the year, the 100 ordinary shares of £1 each brought forward were subdivided into 1,000 shares of £0.10 each. On 2 September 2025, 6,250,000 ordinary shares were issued at par in a debt to equity swap with Topp Holdings GmbH.

11. Summary audit opinion

The auditor's report dated 26 June 2026 was unqualified .

The senior statutory auditor was Christopher Gorman FCA FCCA , for and on behalf of Chipchase Manners .

12. Related party transactions

At the year end, the company owed £1,126,282 (2024 - £1,050,557) to fellow group undertakings. During the year the company was charged interest by fellow group undertakings of £62,672 (2024 - £34,865). During the year the £625,000 (2024: nil) was discharged from the amount owned to fellow group undertakings in a debt to equity swap as detailed in the Paid up share capital note.

13. Controlling party

The parent company is Topp Holdings GmbH by virtue of its majority shareholding. The ultimate controlling party is Topp Capital AG by virtue of its ownership of Topp Holdings AG, which wholly owns Topp Holdings GmbH as above.