REGISTERED NUMBER: 06946307 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Itexact Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H W W Groothedde

D Longe

N A May

N J Beattie

L H Fine

S Dane

J Gottlander

P J Turpin

REGISTERED OFFICE:

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

REGISTERED NUMBER:

06946307 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Intangible assets

4

3,084,074

2,922,597

Tangible assets

5

57,840

22,414

Investments

6

1,186

1,186

3,143,100

2,946,197

CURRENT ASSETS

Debtors

7

1,587,797

1,276,125

Cash at bank

1,724,831

1,167,487

3,312,628

2,443,612

CREDITORS

Amounts falling due within one year

8

832,943

918,716

NET CURRENT ASSETS

2,479,685

1,524,896

TOTAL ASSETS LESS CURRENT LIABILITIES

5,622,785

4,471,093

CREDITORS

Amounts falling due after more than one year

9

(1,601,100

)

(1,441,057

)

PROVISIONS FOR LIABILITIES

(785,478

)

(736,253

)

NET ASSETS

3,236,207

2,293,783

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

4,191,963

3,191,971

Retained earnings

(955,758

)

(898,190

)

SHAREHOLDERS' FUNDS

3,236,207

2,293,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2026 and were signed on its behalf by:

P J Turpin - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST OR VALUATION

At 1 September 2024

4,908,458

Additions

1,267,359

At 31 August 2025

6,175,817

AMORTISATION

At 1 September 2024

1,985,861

Amortisation for year

1,105,882

At 31 August 2025

3,091,743

NET BOOK VALUE

At 31 August 2025

3,084,074

At 31 August 2024

2,922,597

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2024

9,590

67,925

77,515

Additions

4,885

53,309

58,194

At 31 August 2025

14,475

121,234

135,709

DEPRECIATION

At 1 September 2024

8,752

46,349

55,101

Charge for year

1,484

21,284

22,768

At 31 August 2025

10,236

67,633

77,869

NET BOOK VALUE

At 31 August 2025

4,239

53,601

57,840

At 31 August 2024

838

21,576

22,414

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 September 2024

and 31 August 2025

1,186

NET BOOK VALUE

At 31 August 2025

1,186

At 31 August 2024

1,186

The company's investments at the Balance Sheet date in the share capital of companies include the following:

UAB Absolute Systems

Registered office: 4 Vilnius, Lithuania

Nature of business: Computer software development

%

Class of shares:

holding

Ordinary shares

51.00

31.8.25

31.8.24

£

£

Aggregate capital and reserves

15,411

13,457

Profit for the year

7,921

1,508

Surveil Inc

Registered office: 31920 Del Obispo Street, STE 180, San Juan Capistrano, California, CA92675

Nature of business: Computer software development

%

Class of shares:

holding

Common Shares

100.00

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

891,586

887,096

Other debtors

696,211

389,029

1,587,797

1,276,125

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

46,324

95,766

Trade creditors

69,902

66,189

Taxation and social security

313,765

237,996

Other creditors

402,952

518,765

832,943

918,716

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

-

46,320

Other creditors

1,601,100

1,394,737

1,601,100

1,441,057

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.25

31.8.24

£

£

Within one year

31,148

34,200

Between one and five years

5,800

-

36,948

34,200