SRD TECHNOLOGY UK LTD


Directors	BALDWIN, Mark Paul
	DARCH, Simon David


Company Secretary	DARCH, Simon David


Registered Address	Portland House
	Deane Gate Avenue
	Taunton
	TA1 2UH


Registered Number	09261724 (England and Wales)

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.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

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

	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 sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	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 in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	10		11

3.	Deferred tax
	Deferred tax is provided in full on timing differences that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they reverse based on current tax law. Deferred tax assets are recognized only to the extent that it is regarded as more likely than not that they will be recovered against future taxable profits. Deferred tax balances are not discounted.

Deferred tax

Deferred tax is provided in full on timing differences that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they reverse based on current tax law. Deferred tax assets are recognized only to the extent that it is regarded as more likely than not that they will be recovered against future taxable profits. Deferred tax balances are not discounted.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 November 24	39,886
	Additions	11,014
	At 31 October 25	50,900
	Depreciation and impairment
	At 01 November 24	28,326
	Charge for year	6,668
	At 31 October 25	34,994
	Net book value
	At 31 October 25	15,906
	At 31 October 24	11,561

5.	Fixed asset investments
	As at 31 October 2025, the company holds 100% of the ordinary share capital of the subsidiary undertaking: The Tech Care Lounge Limited. Incorporated in England and Wales its registered office is Portland House, Deane Gate Avenue, Taunton TA1 2UH. The subsidiary, since incorporation, has never traded. It has no assets or liabilities other than nominal share capital and has made neither a profit nor a loss during the period. For the year ended 31 October 2025, the subsidiary was exempt from audit under section 479A of the Companies Act 2006 relating to dormant companies.

Fixed asset investments

As at 31 October 2025, the company holds 100% of the ordinary share capital of the subsidiary undertaking: The Tech Care Lounge Limited. Incorporated in England and Wales its registered office is Portland House, Deane Gate Avenue, Taunton TA1 2UH.
The subsidiary, since incorporation, has never traded. It has no assets or liabilities other than nominal share capital and has made neither a profit nor a loss during the period.
For the year ended 31 October 2025, the subsidiary was exempt from audit under section 479A of the Companies Act 2006 relating to dormant companies.

		Total
		£
	Cost or valuation
	Additions	1
	At 31 October 25	1
	Net book value
	At 31 October 25	1
	At 31 October 24	-

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	24,984	101,577
Other debtors	2,994	953
Prepayments and accrued income	15,721	20,231
Total	43,699	122,761


	Other debtors include an amount due from a director which has been fully repaid since the year-end.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	133,576	123,015
Bank borrowings and overdrafts	15,379	38,519
Taxation and social security	44,262	71,100
Other creditors	1,929	2,061
Accrued liabilities and deferred income	20,555	21,130
Total	215,701	255,825

8.	Operating lease commitments
	At 31 October 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £19,867 (2024 – £29,019)

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		15,906		11,561
Investments	5		1		-
			15,907		11,561
Current assets
Debtors	6	43,699		122,761
Cash at bank and on hand		288,844		265,619
		332,543		388,380
Creditors amounts falling due within one year	7	(215,701)		(255,825)
Net current assets (liabilities)			116,842		132,555
Total assets less current liabilities			132,749		144,116
Provisions for liabilities			(2,710)		(1,816)
Net assets			130,039		142,300
Capital and reserves
Called up share capital			2		2
Profit and loss account			130,037		142,298
Shareholders' funds			130,039		142,300