Company registration number 14208234 (England and Wales)
FLINT UK TECHNOLOGY SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
FLINT UK TECHNOLOGY SERVICES LIMITED
COMPANY INFORMATION
Directors
A R Bryant
N Peters
R Taylor
C Simpson
R Choi
(Appointed 20 April 2026)
Secretary
N Goh
Company number
14208234
Registered office
Bre Site Building 3
Bucknalls Lane
Garston
Watford
WD25 9XX
Auditor
Burgis & Bullock
23-25 Waterloo Place
Leamington Spa
Warwickshire
CV32 5LA
FLINT UK TECHNOLOGY SERVICES LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 9
Statement of comprehensive income
10
Balance sheet
11 - 12
Statement of changes in equity
13
Statement of cash flows
14
Notes to the financial statements
15 - 32
FLINT UK TECHNOLOGY SERVICES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Fair review of the business

Flint UK Technology Services business mainly consists of UK trade, which resulted in turnover of £23.4m with loss after tax of £4.4m and the EBITDA for the year £120k (2024 £1.99m). This showed a decline in turnover on the previous year’s trading due to reductions in both resourcing and services needs partly resulting from conversion of contract resource to permanent positions with some of our clients, as well as further reductions in client spend on new projects and resources.

The new fledging accounts which we had started to receive small orders from in 2024 failed to develop further in 2025, which led to a decision to change strategy and focus in mid-2025. The Board started to look at adjacent sectors where if felt well placed to take the skills and capabilities which it had deployed primarily within the telecommunications sector and provide similar service and resourcing solutions to those new markets. The business also took the decision to undertake organisational restructuring in the latter part of the year to control business overheads in response to the reductions in active projects.

The principal contributor to the Net Loss in the year came from a decision taken to accelerate the rate of amortisation of Goodwill as described in the section below.

The Board remains resolute that through the proactive decisions it has taken in restructuring and examining new and adjacent sectors, this will allow the business to see increased numbers of opportunities which we feel well placed to secure. This could then make the business less reliant upon the telecommunications sector upon which it has focused to date.

As a company we continue to seek operational efficiencies through automation and streamlining our processes and tooling. Further integration of our systems with our customers systems, will bring tangible operational benefits to support our future business.

The board is optimistic about the future and through commencing an MD succession process this will bring new ideas, opportunities and perspectives in support of our future growth.

FLINT UK TECHNOLOGY SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Principal risks and uncertainties

Following three years in the post, i n November 2025, Mr A. Bryant notified the Board of his intention to step down from his role as Managing Director during 2026. This would allow the appropriate time for the Board to commence an MD Recruitment process to identify the next Managing Director through a rigorous and robust hiring process, we are pleased to announce that Mr R. Choi was appointed as Managing Director in April 2026.

The Board have re-assessed the ongoing situation of Goodwill amortisation, and took the decision to increase the rate of amortisation through an additional impairment charge of £2.5m within these accounts. The Board felt this was reflective of the situation with our clients following the reduction in turnover over 2024 and 2025. This leaves £950k of Goodwill carried forward into the next financial year.

Given the nature of our business concerns the use of contract resource, the Board continues to monitor the situation with Joint and Several Liability legislation as part of the Finance Act. The business is proactively working on ensuring full compliance with the legislation and is reviewing the Umbrella companies which the business works with in respect of these forthcoming changes in April 2026.

Development and performance

The directors have set certain key targets for business and sales development and profitability and are aware of the challenges faced by the company operating in the ICT sector with its inherently rapid change. In support of this, our ISO accreditations in 9001, 27001 and 45001 are actively maintained and are core to our business, as is Cyber Essentials accreditation which has become a key requirement for recent RFP’s we have responded to.

Given the ongoing effects of amortisation, the directors continue to closely monitor its EBITDA position as the main financial KPI, alongside the numbers of deployed resources across its business streams.

Employee Ownership

The business is owned by an Employee Ownership Trust (EOT) – making Flint’s employees 100% beneficiaries of the business. A strong governance structure has been put in place to ensure the company is delivering against the interests of the employees through a diverse board of trustees that meets regularly with Flint’s board of directors.

A less formal, but equally important, body – the Employee Council – has been established to allow all staff voices to be heard in relation to how the business is run.

Flint Technology Services have joined a fast growing group of businesses that are harnessing the benefits of the employee ownership model.

FLINT UK TECHNOLOGY SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Environmental and social matters

The directors are committed to responsible corporate citizenship, managing our business impact on the environment and society for all stakeholders including clients, colleagues, and the wider community. We strive to:

• Minimise our environmental footprint in line with UK net-zero commitments

• Provide an inclusive, professional workplace supporting employee wellbeing

• Champion diversity, equity, and inclusion across all levels of our organisation

• Deliver exceptional service whilst maintaining ethical business practices

• Support local communities through dedicated volunteering time and charitable initiatives

On behalf of the board

A R Bryant
Director
29 June 2026
FLINT UK TECHNOLOGY SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of telecommunication consultants.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A R Bryant
N Peters
R Taylor
C Simpson
R Choi
(Appointed 20 April 2026)
Auditor

Burgis & Bullock were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

FLINT UK TECHNOLOGY SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
A R Bryant
Director
29 June 2026
FLINT UK TECHNOLOGY SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FLINT UK TECHNOLOGY SERVICES LIMITED
- 6 -
Opinion

We have audited the financial statements of Flint UK Technology Services Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

FLINT UK TECHNOLOGY SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FLINT UK TECHNOLOGY SERVICES LIMITED (CONTINUED)
- 7 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

FLINT UK TECHNOLOGY SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FLINT UK TECHNOLOGY SERVICES LIMITED (CONTINUED)
- 8 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Based on our understanding of the company and industry we identified that the principal risk of non-compliance with laws and regulations related to breaches of Companies Act 2006, UK Tax Legislation & Employment and off-payroll regulations. We also evaluated management incentive and opportunities for fraudulent manipulations of the financial statements.

Audit procedures performed included:

- Reviewing returns made to Companies House and HMRC;

- Discussions with management, including consideration of known or suspected incidences of non-compliance with laws and regulation and fraud;

- Maki ng enquiries with regards to subcontract usage and requesting assessments where necessary to support compliance with IR35.

- Identifying and assessing the design effectiveness of controls in management have in place to prevent and detect fraud;

- Challenging assumptions and judgments made by management in their significant accounting estimates and assessing if these indicate evidence of management bias;

- Reviewing the accounting records for large and unusual journal entries and testing any identified and in particular the rationale for any transactions outside the company’s normal course of business;

- Reviewing the accounting records for large and unusual bank payments and testing any identified and in particular the rationale for any transactions outside the company’s normal course of business;

- Reviewing the accounting records for large and unusual transactions and testing any identified and in particular the rationale for any transactions outside the company’s normal course of business;

- Testing a sample of debit entries in the profit and loss account to check they are bona-fide costs of the business and;

- Testing a sample of bank payment details to source documentation.

FLINT UK TECHNOLOGY SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FLINT UK TECHNOLOGY SERVICES LIMITED (CONTINUED)
- 9 -

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Wende Hubbard FCCA (Senior Statutory Auditor)
For and on behalf of Burgis & Bullock, Statutory Auditor
Chartered Accountants
23-25 Waterloo Place
Leamington Spa
Warwickshire
CV32 5LA
29 June 2026
FLINT UK TECHNOLOGY SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
23,476,420
28,539,170
Cost of sales
(20,135,339)
(23,065,660)
Gross profit
3,341,081
5,473,510
Administrative expenses (excluding depreciation, amortisation and impairment)
(3,221,449)
(3,479,000)
Earnings before interest, taxation, depreciation and amortisation
119,632
1,994,510
Amortisation and impairment of goodwill
(4,472,946)
(1,916,976)
Depreciation
(8,078)
(32,006)
Operating (loss)/profit
4
(4,361,392)
45,528
Other interest receivable and similar income
7
14,392
330
Interest payable and similar expenses
8
(39,733)
(39,469)
(Loss)/profit before taxation
(4,386,733)
6,389
Tax on (loss)/profit
9
(17,149)
(482,289)
Loss for the financial year
(4,403,882)
(475,900)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

FLINT UK TECHNOLOGY SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
958,487
5,431,433
Tangible assets
11
6,254
35,116
Investments
12
1
1
964,742
5,466,550
Current assets
Debtors
14
5,321,619
6,170,319
Cash at bank and in hand
54,263
52,145
5,375,882
6,222,464
Creditors: amounts falling due within one year
15
(4,112,109)
(3,609,919)
Net current assets
1,263,773
2,612,545
Total assets less current liabilities
2,228,515
8,079,095
Provisions for liabilities
Deferred tax liability
18
-
0
4,698
-
(4,698)
Net assets
2,228,515
8,074,397
Capital and reserves
Called up share capital
20
100,000
100,000
Profit and loss reserves
2,128,515
7,974,397
Total equity
2,228,515
8,074,397
FLINT UK TECHNOLOGY SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 12 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 29 June 2026 and are signed on its behalf by:
A R Bryant
Director
Company registration number 14208234 (England and Wales)
FLINT UK TECHNOLOGY SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2024
100,000
10,724,297
10,824,297
Year ended 31 December 2024:
Loss and total comprehensive income
-
(475,900)
(475,900)
Contribution to Employee Ownership Trust
25
-
(2,274,000)
(2,274,000)
Balance at 31 December 2024
100,000
7,974,397
8,074,397
Year ended 31 December 2025:
Loss and total comprehensive income
-
(4,403,882)
(4,403,882)
Contribution to Employee Ownership Trust
25
-
(1,442,000)
(1,442,000)
Balance at 31 December 2025
100,000
2,128,515
2,228,515
FLINT UK TECHNOLOGY SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
907,979
4,289,481
Interest paid
(39,733)
(39,469)
Income taxes paid
(303,233)
(936,433)
Net cash inflow from operating activities
565,013
3,313,579
Investing activities
Purchase of tangible fixed assets
(1,931)
(8,944)
Proceeds from disposal of tangible fixed assets
36,262
-
0
Interest received
14,392
330
Net cash generated from/(used in) investing activities
48,723
(8,614)
Financing activities
Movement in invoice finance facility
854,268
(1,235,619)
Payment of finance leases obligations
(23,886)
(9,488)
Contribution to Employee Ownership Trust
(1,442,000)
(2,274,000)
Net cash used in financing activities
(611,618)
(3,519,107)
Net increase/(decrease) in cash and cash equivalents
2,118
(214,142)
Cash and cash equivalents at beginning of year
52,145
266,287
Cash and cash equivalents at end of year
54,263
52,145
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
1
Accounting policies
Company information

Flint UK Technology Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bre Site Building 3, Bucknalls Lane, Garston, Watford, WD25 9XX.

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.

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

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 discounts and VAT.

Revenue arises from the provision of telecommunication consultancy and services. 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 are recoverable.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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
20% straight line
Computers
33.33% straight line
Motor vehicles
20% straight line

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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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 balance sheet 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.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.10
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.

1.11
Taxation

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

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

1.13
Retirement benefits

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

1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
2
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.

Income derived from revenue on contracts

The directors make material judgements, estimates and assumptions when accounting for revenue on contracts in accordance with note 1.3. The directors use all available knowledge including expectations based on historical data to ascertain the stage of completion of contract based on costs incurred to date, future expected costs and the contract sales value. The directors exercise their judgement when assessing the completeness of their obligations to customers and the resultant quantification of deferred income.

Useful life and valuation of intangible assets

The relative size of the company's intangible assets makes the judgements surrounding the estimated useful lives critical to the company;s financial position. The useful life used to amortise intangible assets relates to the expected future performance of the assets acquired and management's judgement of the period over which economic benefit will be derived from the asset. Further information can be seen on note 1.4. Goodwill is valued at £958,487 (2024: £5,431,433). The board have re-assessed the situation this year with Goodwill in respect of the 2025 Accounts and have decided to make a further impairment to reflect the business position in 2026.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Provision of services
23,476,420
28,539,170
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 22 -
2025
2024
£
£
Turnover analysed by geographical market
UK
22,958,106
28,329,198
Europe
194,280
6,525
ROW
324,034
203,447
23,476,420
28,539,170
2025
2024
£
£
Other revenue
Interest income
14,392
330
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Exchange losses
12,719
28,124
Fees payable to the company's auditor for the audit of the company's financial statements
32,000
32,000
Depreciation of tangible fixed assets
8,078
32,006
(Profit)/loss on disposal of tangible fixed assets
(13,547)
334
Amortisation of intangible assets
1,916,977
1,916,976
Impairment of intangible assets
2,555,969
-
0
Operating lease charges
39,324
34,368
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
5
Employees

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

2025
2024
Number
Number
Office and management
17
22
Sales, technical and operational
22
21
Total
39
43

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,429,864
2,678,561
Social security costs
306,652
286,923
Pension costs
64,740
60,051
2,801,256
3,025,535
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
356,446
335,269
Company pension contributions to defined contribution schemes
6,275
6,617
362,721
341,886

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 4).

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Directors' remuneration
(Continued)
- 24 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
126,720
130,735
Company pension contributions to defined contribution schemes
2,986
1,625
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
14,392
330
Disclosed on the profit and loss account as follows:
Other interest receivable and similar income
14,392
330
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on invoice finance arrangements
39,573
37,093
Other finance costs
Interest on finance leases and hire purchase contracts
160
1,288
Other interest
-
0
1,088
39,733
39,469
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
28,907
490,966
Adjustments in respect of prior periods
(5,207)
-
0
Total current tax
23,700
490,966
Deferred tax
Origination and reversal of timing differences
(6,551)
(8,677)
Total tax charge
17,149
482,289

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(4,386,733)
6,389
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
(1,096,683)
1,597
Effects of:
Expenses that are not deductible in determining taxable profit
1,119,172
480,692
Tax under/(over) provided in prior years
(5,207)
-
0
Tax at marginal rate
(133)
-
0
Taxation charge in the financial statements
17,149
482,289
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
10
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
9,584,882
Amortisation and impairment
At 1 January 2025
4,153,449
Amortisation charged for the year
1,916,977
Impairment losses
2,555,969
At 31 December 2025
8,626,395
Carrying amount
At 31 December 2025
958,487
At 31 December 2024
5,431,433
11
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
11,478
25,932
68,592
106,002
Additions
1,931
-
0
-
0
1,931
Disposals
(3,395)
(2,524)
(68,592)
(74,511)
At 31 December 2025
10,014
23,408
-
0
33,422
Depreciation and impairment
At 1 January 2025
4,759
19,466
46,661
70,886
Depreciation charged in the year
1,778
3,610
2,690
8,078
Eliminated in respect of disposals
(509)
(1,936)
(49,351)
(51,796)
At 31 December 2025
6,028
21,140
-
0
27,168
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
(Continued)
- 27 -
Carrying amount
At 31 December 2025
3,986
2,268
-
0
6,254
At 31 December 2024
6,719
6,466
21,931
35,116

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
-
0
18,783
12
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
13
1
1
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Flint Dormant Limited
England and Wales
Ordinary
100.00
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,051,304
5,715,733
Other debtors
223
208
Prepayments and accrued income
268,239
454,378
5,319,766
6,170,319
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 18)
1,853
-
0
Total debtors
5,321,619
6,170,319
15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
17
-
0
23,886
Other borrowings
16
1,417,036
562,768
Trade creditors
1,553,838
1,699,896
Corporation tax
9,433
288,966
Other taxation and social security
307,216
264,004
Deferred income
263,521
210,352
Other creditors
1
1
Accruals and deferred income
561,064
560,046
4,112,109
3,609,919
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
16
Other borrowings
2025
2024
£
£
Invoice finance facility
1,417,036
562,768
Payable within one year
1,417,036
562,768

Included within loans and overdrafts is an amount of £1,417,036 (2024: £562,768) due to the NatWest, which is secured via fixed and floating charges over the book debts of the company.

17
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
-
0
23,886
After more than one year
-
0
-
0
2025
2024
Future minimum lease payments due:
£
£
Within one year
-
0
23,886

Finance lease payments represent rentals payable by the company or group for motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
18
Deferred taxation
Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Balances:
£
£
£
£
Accelerated capital allowances
-
8,779
(1,561)
-
Retirement benefit obligations
-
(4,081)
3,414
-
-
4,698
1,853
-
2025
Movements in the year:
£
Liability at 1 January 2025
4,698
Credit to profit or loss
(6,551)
Asset at 31 December 2025
(1,853)
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
64,740
60,051

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 31 -
21
Contingent liabilities

Employee Ownership Trust

During the period to 31 December 2023 the Flint UK Employee Ownership Trust was established which purchased the majority of the shares of the company from the previous shareholders. The purchase is to be funded by the making of gifts to the Employee Ownership Trust. At the year end the Flint UK Employee Ownership Trust had paid for 41.12% (2024: 30.03%) of the agreed consideration and has a commitment to pay the remaining consideration £7,654,000 (2024: £9,096,000) at the discretion of management and availability of funds. No further gift payments were made after the year end.

22
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, which fall due as follows:

2025
2024
£
£
Within 1 year
424,886
396,192
Years 2-5
387,730
755,640
812,616
1,151,832
23
Related party transactions

During the period Flint Consulting Limited charged the company services charges of £351,456 (2024 - £315,456) and recharged expenses of £6,845 (2024 - £35,380)

During the period Flint Consulting Limited were invoiced by the company £3,782 (2024 - £16,551) for recharges and project work.

At the balance sheet the company was owed £1,748 (2024 - £35,146) by Flint Consulting Limited.

24
Ultimate controlling party

The ultimate controlling party of the group is Flint EOT Limited, a company limited by guarantee, whose registered office is Bre Sire Building 3, Bucknalls Lane, Garston, Watford, England, WD25 9XX

FLINT UK TECHNOLOGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 32 -
25
Other movements - Gift to Employee Ownership Trust

During the period to 31 December 202 3 the company and its former shareholders established an Employee Ownership Trust, know as "The Flint UK Employee Ownership Trust" and constituted as an Employee Benefit Scheme under section 1166 of the Companies Act 2006.

The transfer of £1,442,000 (202 4 - £2,274,000) represents a contribution made from the company to the Flint UK Employee Ownership Trust.

26
Cash generated from operations
2025
2024
£
£
Loss after taxation
(4,403,882)
(475,900)
Adjustments for:
Taxation charged
17,149
482,289
Finance costs
39,733
39,469
Investment income
(14,392)
(330)
(Gain)/loss on disposal of tangible fixed assets
(13,547)
334
Amortisation and impairment of intangible assets
4,472,946
1,916,976
Depreciation and impairment of tangible fixed assets
8,078
32,006
Movements in working capital:
Decrease in debtors
850,553
3,426,116
Decrease in creditors
(101,828)
(136,190)
Increase/(decrease) in deferred income
53,169
(995,289)
Cash generated from operations
907,979
4,289,481
27
Analysis of changes in net debt
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
52,145
2,118
54,263
Borrowings excluding overdrafts
(562,768)
(854,268)
(1,417,036)
Lease liabilities
(23,886)
23,886
-
(534,509)
(828,264)
(1,362,773)
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