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Registered number: 02779070
CHAMELEON SYSTEMS LTD.
Unaudited Financial Statements
For The Year Ended 31 March 2026
Evolve Accounting and Tax Solutions Limited
CHAMELEON SYSTEMS LTD.
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
CHAMELEON SYSTEMS LTD.
Balance Sheet
As At 31 March 2026
Balance Sheet
Registered number: 02779070

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 34,968 |  | 46,034
|  |  | 34,968 |  | 46,034
CURRENT ASSETS
Stocks | 5 | 5,000 |  | 5,000 |
Debtors | 6 | 811,617 |  | 1,113,187 |
Cash at bank and in hand |  | 418,160 |  | 247,578 |
|  | 1,234,777 |  | 1,365,765 |
Creditors: Amounts Falling Due Within One Year | 7 | (494,661 ) |  | (503,848 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 740,116 |  | 861,917
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 775,084 |  | 907,951
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (26,006 ) |  | (39,124 )
NET ASSETS |  |  | 749,078 |  | 868,827
CAPITAL AND RESERVES
Called up share capital | 10 |  | 100 |  | 100
Profit and Loss Account |  |  | 748,978 |  | 868,727
SHAREHOLDERS' FUNDS |  |  | 749,078 |  | 868,827

Page 1
Page 2
CHAMELEON SYSTEMS LTD.
Balance Sheet (continued)
As At 31 March 2026
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Ms Christina Keating Director
19/06/2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
CHAMELEON SYSTEMS LTD.
Notes to the Financial Statements
For The Year Ended 31 March 2026
Notes to the Financial Statements
1. General Information
CHAMELEON SYSTEMS LTD. is a private company, limited by shares, incorporated in England & Wales, registered number 02779070 . The registered office is Suite 6, Floor 2 Congress House, 14 Lyon Road, Harrow, HA1 2EN.
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 section 1A Small Entities "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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on the following basis:

Plant & Machinery | 25% Reducing balance
Motor Vehicles | 25% Reducing balance
Computer Equipment | 25% Reducing balance

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 are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.
Page 3
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CHAMELEON SYSTEMS LTD.
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.6. 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.
2.7. Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2025: 15)
17 15
4. Tangible Assets

| Plant & Machinery
--- | ---
| £
Cost
As at 1 April 2025 | 258,273
Additions | 590
As at 31 March 2026 | 258,863

...CONTINUED
Page 4
Page 5
CHAMELEON SYSTEMS LTD.
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026

Depreciation
As at 1 April 2025 | 212,239
Provided during the period | 11,656
As at 31 March 2026 | 223,895
Net Book Value
As at 31 March 2026 | 34,968
As at 1 April 2025 | 46,034

5. Stocks

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Finished goods | 5,000 |  | 5,000

6. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 422,215 |  | 466,094
Amounts owed by group undertakings | 275,827 |  | 548,327
Other debtors | 113,575 |  | 98,766
| 811,617 |  | 1,113,187

7. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 6,450 |  | 6,451
Trade creditors | 179,206 |  | 187,284
Bank loans and overdrafts | 6,667 |  | 20,000
Other creditors | 159,276 |  | 138,935
Taxation and social security | 143,062 |  | 151,178
| 494,661 |  | 503,848

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

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 26,006 |  | 32,457
Bank loans | - |  | 6,667
| 26,006 |  | 39,124

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Page 6
CHAMELEON SYSTEMS LTD.
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
9. Obligations Under Finance Leases and Hire Purchase

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 6,450 |  | 6,451
Later than one year and not later than five years | 26,006 |  | 32,457
| 32,456 |  | 38,908
| 32,456 |  | 38,908

10. Share Capital

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

11. 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, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
12. Related Party Transactions
At the balance sheet date a balance of £275,827 (2025: £548,327) was owed by the parent company Chameleon Systems Holdings Limited. This amount is unsecured, Interest free and repayable on demand, with 12 months notice.
13. Ultimate Controlling Party
The company is controlled by the director, C Keating, by virtue of her majority shareholding in Chameleon Systems Holdings Limited.
Page 6