BrightAccountsProduction v1.0.0 v1.0.0 2024-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The main activities of the company are the provision of search engine optimisation and other web-based services. 2 July 2026 1 1 NI036572 2025-10-31 NI036572 2024-10-31 NI036572 2023-10-31 NI036572 2024-11-01 2025-10-31 NI036572 2023-11-01 2024-10-31 NI036572 uk-bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 NI036572 uk-curr:PoundSterling 2024-11-01 2025-10-31 NI036572 uk-bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 NI036572 uk-bus:FullAccounts 2024-11-01 2025-10-31 NI036572 uk-core:ShareCapital 2025-10-31 NI036572 uk-core:ShareCapital 2024-10-31 NI036572 uk-core:OtherReservesSubtotal 2025-10-31 NI036572 uk-core:OtherReservesSubtotal 2024-10-31 NI036572 uk-core:RetainedEarningsAccumulatedLosses 2025-10-31 NI036572 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI036572 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-10-31 NI036572 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 NI036572 uk-bus:FRS102 2024-11-01 2025-10-31 NI036572 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-11-01 2025-10-31 NI036572 uk-core:FurnitureFittingsToolsEquipment 2024-11-01 2025-10-31 NI036572 uk-core:OtherPropertyPlantEquipment 2024-11-01 2025-10-31 NI036572 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-10-31 NI036572 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2025-10-31 NI036572 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-10-31 NI036572 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-10-31 NI036572 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-11-01 2025-10-31 NI036572 uk-core:CurrentFinancialInstruments 2025-10-31 NI036572 uk-core:CurrentFinancialInstruments 2024-10-31 NI036572 uk-core:WithinOneYear 2025-10-31 NI036572 uk-core:WithinOneYear 2024-10-31 NI036572 uk-core:WithinOneYear 2025-10-31 NI036572 uk-core:WithinOneYear 2024-10-31 NI036572 uk-core:AfterOneYear 2025-10-31 NI036572 uk-core:AfterOneYear 2024-10-31 NI036572 uk-core:AfterOneYear 2025-10-31 NI036572 uk-core:AfterOneYear 2024-10-31 NI036572 uk-core:BetweenOneTwoYears 2025-10-31 NI036572 uk-core:BetweenOneTwoYears 2024-10-31 NI036572 uk-core:BetweenTwoFiveYears 2025-10-31 NI036572 uk-core:BetweenTwoFiveYears 2024-10-31 NI036572 uk-core:OtherMiscellaneousReserve 2024-10-31 NI036572 uk-core:OtherMiscellaneousReserve 2024-11-01 2025-10-31 NI036572 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-10-31 NI036572 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-10-31 NI036572 uk-core:OtherDeferredTax 2025-10-31 NI036572 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-10-31 NI036572 uk-core:OtherMiscellaneousReserve 2025-10-31 NI036572 2024-11-01 2025-10-31 NI036572 uk-bus:Director1 2024-11-01 2025-10-31 NI036572 uk-bus:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: NI036572

Microchannel Technologies Ltd

Unaudited Financial Statements

for the financial year ended 31 October 2025

Microchannel Technologies Ltd

Company Registration Number: NI036572

BALANCE SHEET

as at 31 October 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Intangible assets |  | 4 | 734 |  | 918
Tangible assets |  | 5 | 68,133 |  | 75,989
|  |  | ───────── |  | ─────────
Fixed Assets |  |  | 68,867 |  | 76,907
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 6 | 10,340 |  | 4,700
Debtors |  | 7 | 126,885 |  | 128,686
Cash and cash equivalents |  |  | 565 |  | 292
|  |  | ───────── |  | ─────────
|  |  | 137,790 |  | 133,678
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 8 | (26,099) |  | (29,673)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 111,691 |  | 104,005
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 180,558 |  | 180,912
Creditors:

amounts falling due after more than one year |  | 9 | (94,749) |  | (102,336)
Provisions for liabilities |  | 11 | 15,668 |  | 19,733
Government grants |  | 12 | (162) |  | (202)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 101,315 |  | 98,107
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 177 |  | 177
Other reserves |  |  | 5,590 |  | 5,590
Retained earnings |  |  | 95,548 |  | 92,340
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 101,315 |  | 98,107
|  |  | ═════════ |  | ═════════
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 2 July 2026 and signed on its behalf by

________________________________ |  |  |  |  |
Mr. Robert Barry Lloyd |  |  |  |  |
Director |  |  |  |  |

Microchannel Technologies Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 October 2025

1. | General Information
| Microchannel Technologies Ltd is a company limited by shares incorporated in Northern Ireland. 216 Aghafad Rd, Clogher, Co Tyrone is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 October 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover attributable to geographical markets outside the UK amounted to 100% for the year.
| Patents
| Patents are valued at cost less accumulated amortisation.
| Intangible assets
| Intangible assets are valued at cost less accumulated amortisation.
| Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 0 years.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Fixtures, fittings and equipment | - | 20% Reducing Balance
|  | Internet Software | - | 10% Straight line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Work in progress
| Work in progress is reflected in the accounts at the expected revenue due for work carried out during the period that has not yet been invoiced.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Borrowing costs
| All borrowing costs are recognised in profit or loss in the period in which they are incurred.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
| Government grants
| Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
| Research and development
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.
| Exceptional item
| Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.

3. | Employees
| The average monthly number of employees, including directors, during the financial year was;
|  | 2025 | 2024
|  | Number | Number
| Employees | 1 | 1
|  | ═════════ | ═════════

4. | Intangible assets
|  |  | Development |
|  | Patents | Costs | Total
|  | £ | £ | £
| Cost
| At 1 November 2024 | 200 | 100,222 | 100,422
|  | ───────── | ───────── | ─────────
| At 31 October 2025 | 200 | 100,222 | 100,422
|  | ───────── | ───────── | ─────────
| Amortisation
| At 1 November 2024 | 200 | 99,304 | 99,504
| Charge for financial year | - | 184 | 184
|  | ───────── | ───────── | ─────────
| At 31 October 2025 | 200 | 99,488 | 99,688
|  | ───────── | ───────── | ─────────
| Net book value
| At 31 October 2025 | - | 734 | 734
|  | ═════════ | ═════════ | ═════════
| At 31 October 2024 | - | 918 | 918
|  | ═════════ | ═════════ | ═════════

5. | Tangible assets
|  | Fixtures, | Internet | Total
|  | fittings and | Software |
|  | equipment |  |
|  | £ | £ | £
| Cost
| At 1 November 2024 | 131,986 | 73,426 | 205,412
|  | ───────── | ───────── | ─────────
| At 31 October 2025 | 131,986 | 73,426 | 205,412
|  | ───────── | ───────── | ─────────
| Depreciation
| At 1 November 2024 | 129,423 | - | 129,423
| Charge for the financial year | 513 | 7,343 | 7,856
|  | ───────── | ───────── | ─────────
| At 31 October 2025 | 129,936 | 7,343 | 137,279
|  | ───────── | ───────── | ─────────
| Net book value
| At 31 October 2025 | 2,050 | 66,083 | 68,133
|  | ═════════ | ═════════ | ═════════
| At 31 October 2024 | 2,563 | 73,426 | 75,989
|  | ═════════ | ═════════ | ═════════

6. | Stocks | 2025 | 2024
|  | £ | £
| Work in progress | 10,340 | 4,700
|  | ═════════ | ═════════
| The replacement cost of stock did not differ significantly from the figures shown.

7. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 64,075 | 65,247
| Amounts owed by connected parties (Note 13) | 55,351 | 55,351
| Taxation (Note 10) | 7,459 | 8,088
|  | ───────── | ─────────
|  | 126,885 | 128,686
|  | ═════════ | ═════════

8. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Bank loan | 4,552 | 4,486
| Trade creditors | - | 3,640
| Accruals | 21,547 | 21,547
|  | ───────── | ─────────
|  | 26,099 | 29,673
|  | ═════════ | ═════════

9. | Creditors | 2025 | 2024
| Amounts falling due after more than one year | £ | £
| Bank loan | 18,996 | 23,614
| Directors' loan accounts | 75,753 | 78,722
|  | ───────── | ─────────
|  | 94,749 | 102,336
|  | ═════════ | ═════════
| Loans
| Repayable in one year or less, or on demand (Note 8) | 4,552 | 4,486
| Repayable between one and two years | 4,552 | 4,486
| Repayable between two and five years | 14,444 | 19,128
|  | ───────── | ─────────
|  | 23,548 | 28,100
|  | ═════════ | ═════════

10. | Taxation | 2025 | 2024
|  | £ | £
| Debtors:
| VAT | 7,459 | 8,088
|  | ═════════ | ═════════

11. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Losses | Total | Total
|  | allowances |  |  |
|  |  |  | 2025 | 2024
|  | £ | £ | £ | £
| At financial year start | 641 | (20,374) | (19,733) | (18,568)
| Charged to profit and loss | 3,145 | 920 | 4,065 | (1,165)
|  | ───────── | ───────── | ───────── | ─────────
| At financial year end | 3,786 | (19,454) | (15,668) | (19,733)
|  | ═════════ | ═════════ | ═════════ | ═════════

12. | Government Grants Deferred | 2025 | 2024
|  | £ | £
| Capital grants received and receivable
| At 1 November 2024 | 8,967 | 8,967
|  | ───────── | ─────────
| Amortisation
| At 1 November 2024 | (8,765) | (8,715)
| Amortised in financial year | (40) | (50)
|  | ───────── | ─────────
| At 31 October 2025 | (8,805) | (8,765)
|  | ───────── | ─────────
| Net book value
| At 31 October 2025 | 162 | 202
|  | ═════════ | ═════════
| At 1 November 2024 | 202 | 252
|  | ═════════ | ═════════

13. | Related party transactions
|  | Balance | Balance
|  | 2025 | 2024
|  | £ | £
|  | 55,351 | 55,351
|  | ───────── | ─────────
| Barry Lloyd is a director of Acasa Remittance Services EU Ltd. During the year Microchannel Technologies Ltd carried out work for Acasa Remittance Services EU Ltd and Acasa Remittance Services EU Ltd carried out work for Microchannel Technologies Ltd. These transactions were all at arms length and the following amounts are included in the financial statements; Sales to Acasa Remittance Services EU Ltd £76,514 Purchases from Acasa Remittance Services EU Ltd £1,875 At the start of the year Acasa Remittance Services EU Ltd owed £55,351 to Microchannel Technologies Ltd. There were no transactions during the year, leaving a closing balance of £55,351 (2024: £55,351). This is included in the debtors section of the balance sheet. Robert Barry Lloyd had an opening Directors‘ Loan Account balance of £78,722. During the year Microchannel Technologies Ltd borrowed £22,105 and repaid £25,074 to Robert Barry Lloyd leaving a closing balance of £75,753 (2024: £78,722) owed to Robert Barry Lloyd and this amount is included in the creditors section of the balance sheet. There were no other related party transactions during the year.

14. | Controlling interest
| Robert Barry Lloyd is considered to be the controlling party of Microchannel Technologies Ltd.