REGISTERED NUMBER: 04227542 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

IC2 CCTV SECURITY SPECIALISTS UK LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A Whelan

SECRETARY:

A Whelan

REGISTERED OFFICE:

Unit 7, Angerstein Business Park

Horn Lane

Greenwich

London

SE10 0RT

REGISTERED NUMBER:

04227542 (England and Wales)

ACCOUNTANTS:

mgr MAP Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

Barclays Bank Plc

P O Box 317

Woking

Surrey

GU21 1WT

FIXED ASSETS

Intangible assets

4

270,787

411,586

385,108

Tangible assets

5

92,191

78,447

47,614

362,978

490,033

432,722

CURRENT ASSETS

Stocks

52,062

171,355

182,606

Debtors

6

1,172,679

1,152,796

1,102,791

Cash at bank

20,941

82,433

393

1,245,682

1,406,584

1,285,790

CREDITORS

Amounts falling due within one year

7

(1,137,977

)

(1,189,759

)

(863,872

)

NET CURRENT ASSETS

107,705

216,825

421,918

TOTAL ASSETS LESS CURRENT LIABILITIES

470,683

706,858

854,640

CREDITORS

Amounts falling due after more than one year

8

(153,908

)

(221,272

)

(327,747

)

NET ASSETS

316,775

485,586

526,893

CAPITAL AND RESERVES

Called up share capital

9,541

9,541

1,211

Share premium account

99,889

99,889

99,889

Retained earnings

207,345

376,156

425,793

316,775

485,586

526,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2026 and were signed by:

A Whelan - Director

1.	STATUTORY INFORMATION

IC2 CCTV Security Specialists UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The director reviewed the company’s accounting policy for revenue recognition in respect of maintenance contracts.

Historically, the company recognised income in the month when the maintenance contract commenced. The director considers that recognising revenue evenly over the maintenance period more appropriately reflects the transfer of services to customers and provides more reliable and relevant information.

Accordingly, with effect from the beginning of the prior financial year, the company has changed its accounting policy to recognise maintenance income on a straight-line basis over the period to which the maintenance period relates, with income relating to future periods deferred and recognised as deferred income within creditors.

This change in accounting policy has been applied retrospectively in accordance with Section 10 of FRS 102Accounting Policies, Estimates and Errors. Note 6 -Prior period adjustment -details the impact of the change to the accounts.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services

provided in the normal course of business, and is shown net of VAT.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% Straight line

Motor vehicles

-

10% Straight line and 25% 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.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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

payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are

not amortised.

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.

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.

Research and development

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

expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be

demonstrated.

Foreign currencies

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Developmen

costs

£

COST

At 1 December 2024

and 30 November 2025

833,823

AMORTISATION

At 1 December 2024

422,237

Amortisation for year

140,799

At 30 November 2025

563,036

NET BOOK VALUE

At 30 November 2025

270,787

At 30 November 2024

411,586

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 December 2024

29,084

105,930

135,014

Additions

12,300

45,159

57,459

At 30 November 2025

41,384

151,089

192,473

DEPRECIATION

At 1 December 2024

18,930

37,637

56,567

Charge for year

6,857

36,858

43,715

At 30 November 2025

25,787

74,495

100,282

NET BOOK VALUE

At 30 November 2025

15,597

76,594

92,191

At 30 November 2024

10,154

68,293

78,447

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 December 2024

105,930

Additions

45,159

At 30 November 2025

151,089

DEPRECIATION

At 1 December 2024

37,637

Charge for year

36,858

At 30 November 2025

74,495

NET BOOK VALUE

At 30 November 2025

76,594

At 30 November 2024

68,293

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

as restated

£

£

Trade debtors

350,832

302,620

Amounts owed by participating interests

499

499

Other debtors

821,348

849,677

1,172,679

1,152,796

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

as restated

£

£

Bank loans and overdrafts (see note 9)

84,315

-

Hire purchase contracts (see note 10)

33,212

22,898

Trade creditors

314,780

505,256

Taxation and social security

128,736

84,252

Other creditors

576,934

577,353

1,137,977

1,189,759

Bank loans and overdrafts are secured by a fixed and floating charge on all assets of the company and on a

personal guarantee given by the director A Whelan in favour of Barclays Bank Plc.

Other creditors include a loan from Funding Circle Limited which is secured by a personal guarantee given by the director A Whelan.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

as restated

£

£

Hire purchase contracts (see note 10)

56,799

53,176

Other creditors

97,109

168,096

153,908

221,272

9.

LOANS

An analysis of the maturity of loans is given below:

30.11.25

30.11.24

as restated

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

84,315

-

Other loans

70,987

130,650

155,302

130,650

Amounts falling due between one and two years:

Other loans - 1-2 years

97,109

168,096

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.11.25

30.11.24

as restated

£

£

Net obligations repayable:

Within one year

33,212

22,898

Between one and five years

56,799

53,176

90,011

76,074

Non-cancellable

operating leases

30.11.25

30.11.24

as restated

£

£

Within one year

48,606

74,814

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2025 and 30 November 2024:

30.11.25

30.11.24

as restated

£

£

A Whelan

Balance outstanding at start of year

465,011

440,143

Amounts advanced

-

24,868

Amounts repaid

(9,315

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

455,696

465,011

12.	POST BALANCE SHEET EVENTS

Since the reporting date, the company has undergone corporate restructuring including the establishment of a holding company.