MOTICS TECHNOLOGIES LTD


Directors	ABDULLAH, Salinna Binti, Dr
	POWER, Harvinder Singh, Dr


Registered Address	1 Canada Square
	Motics, Fora Level 8
	London
	E14 5AB


Registered Number	12277558 (England and Wales)

Balance Sheet as at
31 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		-		93
			-		93
Current assets
Debtors		11,961		-
Cash at bank and on hand		962,367		3,882
		974,328		3,882
Creditors amounts falling due within one year	5	(60,835)		(122,136)
Net current assets (liabilities)			913,493		(118,254)
Total assets less current liabilities			913,493		(118,161)
Net assets			913,493		(118,161)
Capital and reserves
Called up share capital			3		2
Share premium			1,194,397		-
Profit and loss account			(280,907)		(118,163)
Shareholders' funds			913,493		(118,161)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 16 July 2026, and are signed on its behalf by:

POWER, Harvinder Singh, Dr
Director
Registered Company No. 12277558

MOTICS TECHNOLOGIES LTD

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Defined contribution pension plan
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

	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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

	Government grants or assistance
	Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants or assistance

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Prior period adjustment
	During the year, the directors identified that convertible loan notes, directors remuneration and taxation and social security had not been accounted for in accordance with Section 11 of FRS 102 in the prior period. The comparative figures have been restated to account for the interest payable and foreign exchange movements on the convertible loan notes, to recognise an accrual for directors remuneration and an accrual for the taxation and social security. In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, these adjustments have been treated as the correction of prior period errors. The cumulative adjustment recognised in retained earnings at 1 November 2023 was £24,671 which relates to interest payable and foreign exchange movements on the convertible loan notes covering the year ended 31 October 2023. The effect of the adjustments on the prior year increased operating expenses by £19,678 and increased the loss before tax by £19,678. The total prior period adjustments impact on shareholders’ funds was £44,349. There is no impact on cash balances and the comparative figures for the prior year have been restated accordingly. The balance sheet impact is summarised below: Previously Reported Adjustment Restated £ £ £ Increase in other creditors 77,787 32,315 110,102 Increase in taxation and social security - 12,034 12,034 Decrease in net assets (73,812) (44,349) (118,161) Decrease in shareholders' funds (73,812) (44,349) (118,161)

Prior period adjustment

During the year, the directors identified that convertible loan notes, directors remuneration and taxation and social security had not been accounted for in accordance with Section 11 of FRS 102 in the prior period. 

The comparative figures have been restated to account for the interest payable and foreign exchange movements on the convertible loan notes, to recognise an accrual for directors remuneration and an accrual for the taxation and social security. 

In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, these adjustments have been treated as the correction of prior period errors. 

The cumulative adjustment recognised in retained earnings at 1 November 2023 was £24,671 which relates to interest payable and foreign exchange movements on the convertible loan notes covering the year ended 31 October 2023.

The effect of the adjustments on the prior year increased operating expenses by £19,678 and increased the loss before tax by £19,678.

The total prior period adjustments impact on shareholders’ funds was £44,349. There is no impact on cash balances and the comparative figures for the prior year have been restated accordingly. The balance sheet impact is summarised below: 

                                                              Previously Reported         Adjustment           Restated
                                                                               £                               £                         £
         
Increase in other creditors                                 77,787                      32,315               110,102
Increase in taxation and social security                  -                           12,034                12,034
Decrease in net assets                                      (73,812)                   (44,349)             (118,161)
Decrease in shareholders' funds                       (73,812)                   (44,349)             (118,161)

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 November 24	93	93
Disposals	(93)	(93)
Net book value
At 31 October 25	-	-
At 31 October 24	93	93

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	7,660	-
Taxation and social security	41,278	12,034
Other creditors	11,897	110,102
Total	60,835	122,136


	In the prior year convertible loan notes of £85,399 ($110,930) bearing interest at 5% per annum were included within Other creditors. During the year the carrying value of £85,256 ($114,849) was converted into 956 Series Pre-Seed shares on 25 September 2025 at a conversion price of £89.18 ($120.14) per share. In the prior year the Company also had convertible equity of £15,397 ($20,000). During the year, the carrying value of £14,847 ($20,000) converted into 1,500 Ordinary shares on 25 September 2025 at a conversion price of £12.37 ($16.66) per share.

In the prior year convertible loan notes of £85,399 ($110,930) bearing interest at 5% per annum were included within Other creditors. During the year the carrying value of £85,256 ($114,849) was converted into 956 Series Pre-Seed shares on 25 September 2025 at a conversion price of £89.18 ($120.14) per share. 

In the prior year the Company also had convertible equity of £15,397 ($20,000). During the year, the carrying value of £14,847 ($20,000) converted into 1,500 Ordinary shares on 25 September 2025 at a conversion price of £12.37 ($16.66) per share.

6.	Events after reporting date
	After the period end, on 13 April 2026, 580 options over Ordinary shares with an exercise price of £89.83 were granted over 4 years. Of these options, 141 related to an employee who subsequently left the Company and have therefore lapsed in accordance with the terms of the share option scheme.

7.	Related party transactions
	At the balance sheet date, one director was owed £7,604 (2024: £5,223) by the company. This amount is included within other creditors. The balance is unsecured, interest free and repayable on demand. At the balance sheet date, another director was owed £3,780 (2024: £4,083) by the company. This amount is included within other creditors. The balance is unsecured, interest free and repayable on demand.

Related party transactions

At the balance sheet date, one director was owed £7,604 (2024: £5,223) by the company. This amount is included within other creditors. The balance is unsecured, interest free and repayable on demand.

At the balance sheet date, another director was owed £3,780 (2024: £4,083) by the company. This amount is included within other creditors. The balance is unsecured, interest free and repayable on demand.