Company Registration No. 07553139 (England and Wales)
Planixs GRP Limited
Financial statements
for the year ended 31 March 2026
Pages for filing with the registrar
Planixs GRP Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 13
Planixs GRP Limited
Statement of financial position
As at 31 March 2026
1
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,367
21,111
Current assets
Debtors
5
1,864,335
2,124,757
Cash at bank and in hand
3,069,934
2,376,891
4,934,269
4,501,648
Creditors: amounts falling due within one year
6
(8,001,165)
(6,511,027)
Net current liabilities
(3,066,896)
(2,009,379)
Total assets less current liabilities
(3,048,529)
(1,988,268)
Creditors: amounts falling due after more than one year
7
(834,542)
(2,030,596)
Net liabilities
(3,883,071)
(4,018,864)
Capital and reserves
Called up share capital
9
190
190
Share premium account
4,544,813
4,544,813
Other reserves
153,882
115,710
Profit and loss reserves
(8,581,956)
(8,679,577)
Total equity
(3,883,071)
(4,018,864)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 12 August 2026 and are signed on its behalf by:
Neville Roberts
Director
Company Registration No. 07553139
Planixs GRP Limited
Statement of changes in equity
For the year ended 31 March 2026
2
Share capital
Share premium account
Share based payments
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 April 2024
190
4,544,813
94,014
(7,487,866)
(2,848,849)
Year ended 31 March 2025:
Loss and total comprehensive income
-
-
-
(1,191,711)
(1,191,711)
Credit to equity for equity settled share-based payments
-
-
21,696
-
21,696
Balance at 31 March 2025
190
4,544,813
115,710
(8,679,577)
(4,018,864)
Year ended 31 March 2026:
Profit and total comprehensive income
-
-
-
97,621
97,621
Credit to equity for equity settled share-based payments
-
-
38,172
-
38,172
Balance at 31 March 2026
190
4,544,813
153,882
(8,581,956)
(3,883,071)
Planixs GRP Limited
Notes to the financial statements
For the year ended 31 March 2026
3
1
Accounting policies
Company information

Planixs GRP Limited is a private company limited by shares incorporated in England and Wales. The registered office is Union House, 2/10 Albert Square, Manchester, England, M2 6LW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Directors continue to adopt the going concern basis in the preparation of the financial statements. The Company is now in a profit making and cash generative position while holding negative reserves after previously being loss making prior to this year; this was as a result of the Company being in its investment phase. The Company is reliant on support from external lenders, however, the Directors are confident that the Company will continue operations into the foreseeable future. The Directors have prepared cash flow forecasts for the period to March 2028. These have been prepared considering trading performance as well as bank and loan facilities available. They have applied a range of sensitivities to these forecasts and such forecasts and analysis have indicated that sufficient funds should be available to enable the Company to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements. As a result, the Board believes that it is appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

Revenue from the provision of bundled on-premise term licences (software licences and maintenance), maintenance contracts, hosted software subscription licences and hosting services is recognised equally over the duration of the contract.

1.4
Research and development expenditure

Research and development expenditure is written off against profits in the year in which it is incurred.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
4
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line method
Computers
33.33% straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
5
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
6
1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
7

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
8
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Share-based payments

The directors are required to determine the fair value of equity-settled share-based payments and recognise this as an expense over the period in which the employees become unconditionally entitled to the awards. Therefore, the directors are required to estimate the fair value of the share-based payments using an option valuation model and need to estimate inputs such as volatility. In addition to this, the terms of the share-based payments are such that the directors are required to estimate the number of options expected to vest, and the time period over which these options are expected to vest. The directors re-assess this estimate at each reporting period. During the year, the company recognised total share-based payment expenses of £38,172 (2025: £21,696) which related to equity settled share based payment transactions, as outlined in note 8.

Research and development

The directors must assess whether the company has carried out qualifying research and development activities to meet the criteria for a tax credit. This requires judgement over the technical and commercial feasibility of the projects. During the year, Planixs received £552,618 from HMRC in respect of the R&D claim relating to the financial year ended March 2025 (2024: £432,018).

Financial liability measured at fair value

The liability arising from the B Ordinary shares has been measured at fair value using a discounted cash flow model. This involves significant estimation, including assumptions about the expected timing and amount of future dividend payments and the discount rate applied. These estimates are sensitive to changes in market conditions and the company’s future performance, and any variation could materially affect the carrying value of the liability and the associated profit or loss impact. The fair value loss recognised in the current year was £114,696 (2025: £109,914) as outlined in note .

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
54
60
Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
9
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025
216,210
Additions
12,284
Disposals
(16,293)
At 31 March 2026
212,201
Depreciation and impairment
At 1 April 2025
195,099
Depreciation charged in the year
15,028
Eliminated in respect of disposals
(16,293)
At 31 March 2026
193,834
Carrying amount
At 31 March 2026
18,367
At 31 March 2025
21,111
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,134,193
975,353
Corporation tax recoverable
406,169
552,545
Other debtors
253,900
513,853
1,794,262
2,041,751
2026
2025
Amounts falling due after more than one year:
£
£
Deferred tax asset
70,073
83,006
Total debtors
1,864,335
2,124,757
Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
10
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
785,456
589,092
Trade creditors
339,240
402,363
Corporation tax
55,319
-
0
Other taxation and social security
389,654
427,622
Other creditors
6,431,496
5,091,950
8,001,165
6,511,027

The bank loan shown above is secured by a fixed and floating charge, registered against all assets of the company in favour of Clydesdale Bank PLC.

Included within other creditors is a financial liability representing the present value of a future mandatory dividend payment due to holders of Ordinary B shares. The fair value of this liability at the balance sheet date is £875,294 (2025: £350,000).

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
11
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
834,542
1,619,998
Other creditors
-
0
410,598
834,542
2,030,596

Included within other creditors in the prior year was a financial liability representing the present value of a future mandatory dividend payment due to holders of Ordinary B shares to be paid after 12 months of the reporting period. The fair value of this liability at the balance sheet date is £nil (2025: £410,598) as the whole amount is now included in note 7.

8
Share-based payment transactions
Number of share options
Weighted average exercise price
2026
2025
2026
2025
Number
Number
£
£
Outstanding at 1 April 2025
1,985,420
1,786,438
1.37
1.15
Granted
902,346
227,982
3.84
2.80
Forfeited
(50,000)
0
(29,000)
0
2.80
2.80
Expired
(58,742)
0
-
0
0.50
-
0
Outstanding at 31 March 2026
2,779,024
1,985,420
2.18
1.37
Exercisable at 31 March 2026
-
0
-
0
-
0
-
0

The weighted average share price at the date of exercise for share options exercised during the year was £nil (2025 - £nil).

The options outstanding at 31 March 2026, issued before 1 April 2025, have an exercise price ranging from £0.01 to £2.80, and a estimated remaining contractual life of 9 months. The share options granted in the year, have an exercise price of £3.84 and a remaining contractual life of 9 months.

The fair value of share options is based on the most recently transaction price, discounted for marketability and other factors. This value is used in the Black Scholes Model and adjusted for annual risk free rate and annualised volatility.

Expenses related to equity settled transactions

During the year, the company recognised total share-based payment expenses of £38,172 (2025: £21,696) which related to equity settled share based payment transactions.

Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
12
9
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 0.001p each
953,000
953,000
10
10
B Ordinary shares of 0.001p each
2,916,667
2,916,667
29
29
C Ordinary shares of 0.0005p each
590,000
590,000
3
3
D Ordinary shares of 0.0005p each
590,000
590,000
3
3
E1 Ordinary shares of 0.001p each
969,889
956,000
10
10
E2 Ordinary shares of 0.001p each
493,897
493,897
5
5
Ordinary shares of 0.001p each
11,691,274
11,691,274
117
117
Deferred shares of 0.001p each
1,311,000
1,311,000
13
13
19,515,727
19,501,838
190
190

A, B, E1, E2 Ordinary shares and Ordinary shares have full voting, dividend and capital distribution rights. They do not confer any rights of redemption.

C Ordinary shares have full voting, dividend and capital distribution rights. They are entitled to 50% of the dividend payable on the Ordinary shares. They do not confer any rights of redemption.

D Ordinary shares have no voting but have capital distribution rights. They confer rights to half dividends but do not confer any rights of redemption.

Deferred shares have no voting or dividend rights. They rank behind Ordinary shares on a return of capital. They do not confer any rights of redemption.

13,889 E1 Ordinary shares were issued on 12 November 2025 for a total consideration of £43.56

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Diane Petit-Laurent FCA
Statutory Auditors:
Saffery LLP
Date of audit report:
12 August 2026
Planixs GRP Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
13
11
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
292,198
433,918
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