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Registration number: 10873290

Amba Defence Global Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

Amba Defence Global Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 13

Amba Defence Global Limited

Company Information

Directors | Mr S Crichton Mr J T T Ferrero

Registered office | 1 Cotswold Link London Road Moreton in Marsh Gloucestershire United Kingdom GL56 0JU

Accountants | Harbour Key Limited Midway House Herrick Way Staverton Cheltenham GL51 6TQ

Amba Defence Global Limited

(Registration number: 10873290)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Intangible assets | 4 | 6,895 | 12,315
Tangible assets | 5 | 162,126 | 193,951
Debtors | 6 | - | 43,455
|  | 169,021 | 249,721
Current assets |  |  |
Stocks |  | 140,318 | 104,000
Debtors | 6 | 574,735 | 445,894
Cash at bank and in hand |  | 30,666 | 6,926
|  | 745,719 | 556,820
Creditors: Amounts falling due within one year | 7 | (2,378,791) | (1,675,019)
Net current liabilities |  | (1,633,072) | (1,118,199)
Total assets less current liabilities |  | (1,464,051) | (868,478)
Creditors: Amounts falling due after more than one year | 7 | - | (451,234)
Net liabilities |  | (1,464,051) | (1,319,712)
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Retained earnings |  | (1,464,101) | (1,319,762)
Shareholders' deficit |  | (1,464,051) | (1,319,712)

For the financial year ending 31 March 2026 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Amba Defence Global Limited

(Registration number: 10873290)
Balance Sheet as at 31 March 2026

Approved and authorised by the Board on 1 July 2026 and signed on its behalf by:

......................................... Mr S Crichton Director
......................................... Mr J T T Ferrero Director

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Cotswold Link
London Road
Moreton in Marsh
Gloucestershire
GL56 0JU
United Kingdom

These financial statements were authorised for issue by the Board on 1 July 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Going concern

These financial statements have been prepared on a going concern basis.
The Company has historically incurred losses and, at the balance sheet date, reported net liabilities. The directors have carefully assessed the Company’s ability to continue as a going concern, taking into account its recent trading performance, financial position, and post balance sheet developments.
Trading performance improved significantly during the year ended 31 March 2026, with strong revenue growth compared to the prior period and a substantial increase in contracted recurring revenues. This has resulted in a significant reduction in losses, with the Company now operating at close to break-even, demonstrating continued progress towards sustained profitability. The growth in recurring revenues provides improved visibility over future income and cash inflows.
The Company continues to benefit from a growing base of contracted recurring revenues and a strong pipeline of projects, a significant proportion of which are invoiced in advance and recorded as deferred income. This supports working capital management and enhances short-term cash flow visibility.
At the balance sheet date, the Company had outstanding liabilities, including amounts due to HMRC and obligations under financing arrangements put in place during 2024. The directors have taken active steps to strengthen the Company’s financial position and manage these obligations.
Subsequent to the balance sheet date, and prior to the approval of these financial statements, the Company secured additional funding of £500,000 from its shareholders. This funding has been used to make £500,000 of agreed repayments towards HMRC liabilities, with the remaining balance expected to be settled from ongoing trading cashflows in accordance with the agreed repayment schedule.
In addition, the Company has made significant progress in repaying its financing obligations. As at the date of approval of these financial statements, the Company has repaid more than £840,000 of the £1 million principal advanced under the 2024 financing arrangements, demonstrating the Company's ability to generate cash and materially reduce its historic financing obligations.
The directors continue to keep the funding structure under review, including consideration of potential refinancing options as trading performance continues to strengthen.
The directors have prepared detailed cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements. These forecasts reflect current trading performance, contracted revenues, the expected conversion of the project pipeline, and the planned repayment of outstanding liabilities. The forecasts indicate that the Company expects to have sufficient resources to meet its obligations as they fall due. The directors have also considered appropriate sensitivities in assessing the Company's ability to continue as a going concern.
Whilst the forecasts necessarily depend on the continued successful delivery of the Company's business plan, including the conversion of expected project revenues, the directors are satisfied that these assumptions are reasonable having regard to the Company's recent trading performance, improved recurring revenue base, post balance sheet funding and continuing shareholder support.
Accordingly, the directors consider that the Company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing these financial statements.

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Revenue recognition

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% straight line basis
Furniture and fittings | 20% straight line basis
Motor vehicles | 25% straight line basis
Office equipment | 25% straight line basis
Short leasehold improvements & control rooms | 20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2025 - 24).

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2025 | 54,200 | 54,200
At 31 March 2026 | 54,200 | 54,200
Amortisation
At 1 April 2025 | 41,885 | 41,885
Amortisation charge | 5,420 | 5,420
At 31 March 2026 | 47,305 | 47,305
Carrying amount
At 31 March 2026 | 6,895 | 6,895
At 31 March 2025 | 12,315 | 12,315

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5 | Tangible assets

| Short leasehold improvements & control room £ | Furniture and fittings £ | Office equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 April 2025 | 174,141 | 26,258 | 94,684 | 15,833 | 2,575 | 313,491
Additions | 9,089 | 2,248 | 6,307 | - | - | 17,644
At 31 March 2026 | 183,230 | 28,506 | 100,991 | 15,833 | 2,575 | 331,135
Depreciation
At 1 April 2025 | 4,325 | 17,758 | 83,340 | 12,865 | 1,252 | 119,540
Charge for the year | 37,086 | 2,735 | 6,212 | 2,968 | 468 | 49,469
At 31 March 2026 | 41,411 | 20,493 | 89,552 | 15,833 | 1,720 | 169,009
Carrying amount
At 31 March 2026 | 141,819 | 8,013 | 11,439 | - | 855 | 162,126
At 31 March 2025 | 169,816 | 8,500 | 11,344 | 2,968 | 1,323 | 193,951

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6 | Debtors

Current | Note | 2026 £ | 2025 £
Trade debtors |  | 15,593 | 9,568
Prepayments |  | 26,700 | 9,991
Other debtors | 9 | 532,442 | 426,335
|  | 574,735 | 445,894

Non-current | 2026 £ | 2025 £
Other debtors | - | 43,455
| - | 43,455

Details of non-current trade and other debtors

£Nil (2025 -£43,455) of Section 455 tax is classified as non current.

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Bank loans and overdrafts | 8 | 408,103 | 656,605
Trade creditors |  | 373,067 | 250,942
Taxation and social security |  | 1,051,633 | 411,842
Other creditors | 9 | 545,988 | 355,630
|  | 2,378,791 | 1,675,019

Creditors include pension scheme borrowings which are secured of £53,315 (2025 - £52,510). There is a registered floating charge secured over the company's assets.
Creditors also includes a loan of £330,456 (plus accrued interest of £1,373) where a director has undertaken to provide a guarantee for the outstanding balance from 01 January 2027.
Other creditors include deferred revenue of £485,365 (2025: £263,871) representing recurring service and project income invoiced and received in advance, which will be recognised as revenue in future periods.

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 8 | - | 451,234

8 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | - | 6,790
Other borrowings | - | 444,444
| - | 451,234

Current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 6,794 | 10,000
Bank overdrafts | 17,538 | -
Other borrowings | 383,771 | 646,605
| 408,103 | 656,605

Amba Defence Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

9 | Related party transactions

Transactions with directors

2026 | At 1 April 2025 £ | Advances to director £ | Repayments by director £ | At 31 March 2026 £
No interest or repayment terms | 111,406 | 88,430 | (212,444) | (12,608)

2025 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
No interest or repayment terms | 114,058 | 139,781 | (142,433) | 111,406

Summary of transactions with other related parties

At the balance sheet, the company was owed £20,002 (2025 - £19,902) from a company which has the same directors, and are joint shareholders.
The company was also owed £159,044 (2025 the company owed - £59,161) from a company which also has the same directors, and are joint shareholders.

10 | Non adjusting events after the financial period

Subsequent to 31 March 2026, and prior to the approval of these financial statements, the Company secured additional funding of £500,000 from its shareholders. This funding has been used to make £500,000 of agreed repayments towards HMRC liabilities, with the remaining balance expected to be settled from ongoing trading cashflows in accordance with the agreed repayment schedule. In addition, the Company has continued to make repayments under the financing arrangements entered into in 2024. Since the balance sheet date, the outstanding principal balance has reduced from £330,456 at 31 March 2026 to around £160,000 at the date of approval of these financial statements.