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Registered number: 07153259
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2025
| STRUCTEAM LTD
STRUCTEAM LTD |  |
COMPANY INFORMATION
Directors | Mr J Sellier
| Ms J Chipperfield (resigned 6 March 2025)
| Mr R Sajous (resigned 5 March 2025)
Registered number | 07153259
Registered office | New Kings Court
| Tollgate
| Chandlers Ford
| Eastleigh
| Hampshire
| SO53 3LG
Accountants | Menzies LLP
| Chartered Accountants
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
STRUCTEAM LTD |  |
CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 7
STRUCTEAM LTD REGISTERED NUMBER:07153259 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 724,454 |  | 826,133
Tangible assets | 5 |  | 4,855 |  | 16,686
|  |  | 729,309 |  | 842,819
Current assets |  |  |  |  |
Stocks |  | 14,968 |  | 11,128 |
Debtors: amounts falling due within one year | 6 | 801,903 |  | 894,422 |
Cash at bank and in hand |  | 19,022 |  | 60,818 |
|  | 835,893 |  | 966,368 |
Creditors: amounts falling due within one year | 7 | (193,457) |  | (269,634) |
Net current assets |  |  | 642,436 |  | 696,734
Total assets less current liabilities |  |  | 1,371,745 |  | 1,539,553
Creditors: amounts falling due after more than one year | 8 |  | - |  | (4,167)
Net assets |  |  | 1,371,745 |  | 1,535,386
Page 1
STRUCTEAM LTD REGISTERED NUMBER:07153259 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
|  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 849 |  | 849
Share premium account |  |  | 82,426 |  | 82,426
Profit and loss account |  |  | 1,288,470 |  | 1,452,111
|  |  | 1,371,745 |  | 1,535,386
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr J Sellier
Director
Date: 28 May 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
STRUCTEAM LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Structeam Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The functional and presentation currency in these financial statements id GBP rounded to the nearest £1 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | R & D Expenditure | - |  | 20% reducing balance
| 2.4 | Tangible fixed assets
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. Page 3
STRUCTEAM LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 25% | straight line
|  |  |  | Equipment | - | 33% | straight line
|  |  |  | Computer software | - |  |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Stocks
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 reporting 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.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Page 4
STRUCTEAM LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
3. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2024 -12).
4. | Intangible assets
|  | Research & development
|  | £
| Cost |
| At 1 January 2025 | 1,582,752
| Additions | 74,418
| At 31 December 2025 | 1,657,170
| Amortisation |
| At 1 January 2025 | 756,619
| Charge for the year on owned assets | 176,097
| At 31 December 2025 | 932,716
| Net book value |
| At 31 December 2025 | 724,454
| At 31 December 2024 | 826,133
Page 5
STRUCTEAM LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Office equipment | Pullwind equipment | Computer software | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 46,877 | 30,666 | 37,513 | 115,056
| Disposals | (46,877) | - | - | (46,877)
| At 31 December 2025 | - | 30,666 | 37,513 | 68,179
| Depreciation |  |  |  |
| At 1 January 2025 | 42,843 | 23,000 | 32,528 | 98,371
| Charge for the year on owned assets | 985 | 7,666 | 131 | 8,782
| Disposals | (43,828) | - | - | (43,828)
| At 31 December 2025 | - | 30,666 | 32,659 | 63,325
| Net book value |  |  |  |
| At 31 December 2025 | - | - | 4,854 | 4,854
| At 31 December 2024 | 4,034 | 7,667 | 4,985 | 16,686
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 30,067 | 91,790
| Amounts owed by group undertakings | 755,567 | 739,909
| Other debtors | - | 44,629
| Prepayments and accrued income | 16,269 | 18,094
|  | 801,903 | 894,422
Page 6
STRUCTEAM LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 4,166 | 10,000
| Trade creditors | 30,271 | 71,084
| Amounts owed to group undertakings | 25,680 | 6,629
| Other taxation and social security | 30,702 | 25,839
| Other creditors | 69,283 | 60,113
| Accruals and deferred income | 33,355 | 95,969
|  | 193,457 | 269,634
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 4,167
|  | - | 4,167
Page 7