ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:



	CoreTech Security Services Limited













	Annual report and financial statements

	For the year ended 31 March 2026

	Registered number: 12486085


CoreTech Security Services Limited

Company Information

Directors	A J Church
	T Court
	R Knight


Registered number	12486085


Registered office	Honeybourne Place
	Jessop Avenue
	Cheltenham
	Gloucestershire
	GL50 3SH


Independent auditor	EVMS Partners LLP
	4th Floor
	45 Ludgate Hill
	London
	EC4M 7JU


CoreTech Security Services Limited

Contents

	Page
Strategic report	1 - 2
Directors' report	3 - 4
Independent auditors' report	5 - 8
Statement of income and retained earnings	9
Statement of financial position	10
Notes to the financial statements	11 - 22


CoreTech Security Services Limited

Strategic report

For the year ended 31 March 2026

Introduction

The directors present their strategic report for CoreTech Security Services Limited ('the company') for the year ended 31 March 2026.

Business overview

The company is a specialist provider of cyber research and engineering services and solutions.

Financial performance

The company grew in line with Board and Shareholder expectations. Turnover grew by 22.36% to £12.5m, delivering profits of £2.1m. This reflects growth in headcount, strong resource utilisation and effective cost control, coupled with strategic investment in talent development, facilities and technology.

The company's strong operating performance is reflected within its statement of financial position.

Review of the business

As the world becomes more connected through the explosion of networked devices, automated code generation and emerging protocols, technology vulnerability to advanced cyber threat continues to evolve, despite AI’s impact on commodity infrastructure security.

The company has evolved its offerings, broadening its research activities to understand technical vulnerabilities and their impact on the wider ecosystems, whilst developing cyber engineering services that counter the threat to client business operations.

The company continues to invest heavily in talent acquisition and development; from early careers professionals through to experienced specialists. FY26 was the company's fourth year of taking on a graduate cohort, who have benefitted from focused upskilling and close mentoring, whilst experienced staff regularly attend conferences focused on industry-leading cyber practices to ensure their experience remains cutting-edge.

The company has a robust, market-driven strategy and three-year plan and will continue to evolve its services within a growing and diversified sector, investing in talent, whilst staying focused on high quality delivery of core services.

Page 1


CoreTech Security Services Limited

Strategic report (continued)

For the year ended 31 March 2026

Principal risks and uncertainties

The management of the business and the execution of the Company's strategy are subject to a number of risks and uncertainties. These are managed through the implementation of the formal company Operating Framework, which provides yearly, quarterly and monthly reviews of opportunities and risk. The key risks affecting the company relate to the political environment (globally and in the UK), the ability to recruit and retain quality staff and client budget spending reviews. These risks are managed through the Board, the Leadership Team and Technical Directors.

This report was approved by the board and signed on its behalf by:

................................................

A J Church

Director

Date: 27 August 2026

Page 2


CoreTech Security Services Limited

Directors' report

For the year ended 31 March 2026

The directors present their annual report and the audited financial statements of CoreTech Security Services Limited ('the company') for the year ended 31 March 2026.

Directors

The directors who served during the year were:

A J Church

T Court

R Knight (appointed 24 June 2025)

N Biggs (resigned 30 April 2025)

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently;

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

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

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 to 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.

Results and dividends

The profit for the year, after taxation, amounted to £2,295,931 (2025 - £1,951,930).

During the year the directors proposed a total distribution of dividends amounted to £2,957,866 (2025 -£195,000).

Matters covered in the strategic report

The company has chosen, in accordance with s.414C(11) Companies Act 2006, to set out in the Strategic report
information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the Directors' report. It has been done so in respect of future developments.

Page 3


CoreTech Security Services Limited

Directors' report (continued)

For the year ended 31 March 2026

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report was approved by the board and signed on its behalf by:

................................................

A J Church

Director

Date: 27 August 2026

Page 4

Independent auditors' report to the members of CoreTech Security Services Limited

For the year ended 31 March 2026

Opinion

We have audited the financial statements of CoreTech Security Services Limited (the 'company') for the year ended 31 March 2026, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of 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 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.

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Page 5

Independent auditors' report to the members of CoreTech Security Services Limited (continued)

For the year ended 31 March 2026

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic report and the Directors' report 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 identified material misstatements in the Strategic report or the Directors' report.

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' responsibilities statement set out on page 3, 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.

Page 6

Independent auditors' report to the members of CoreTech Security Services Limited (continued)

For the year ended 31 March 2026

Auditors' 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 Auditors' 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, was as follows:

∙the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence,capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, including knowledge specific to auditing firms providing software as a service;

∙we made enquiries of management as to where they considered there was susceptibility to fraud, and their
knowledge of actual, suspected and alleged fraud;

∙we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the company through discussions with directors and other management at the planning stage, and from our knowledge and experience of auditing firms providing software as a service;

∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to
misstatement, including with respect to fraud and non compliance with laws and regulations; and

∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including the Companies Act 2006, employment legislation, and taxation legislation.

We assessed the extent of compliance with the laws and regulations identified above through:

∙making enquiries of management;

∙reviewing legal expenditure and correspondence throughout the period for any potential litigation or claims; and

∙considering the internal controls in place that are designed to mitigate risks of fraud and non compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 7

Independent auditors' report to the members of CoreTech Security Services Limited (continued)

For the year ended 31 March 2026

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 Auditors' 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.

Philip Vipond (Senior statutory auditor)

for and on behalf of

EVMS Partners LLP

4th Floor

45 Ludgate Hill

London

EC4M 7JU

27 August 2026

Page 8


CoreTech Security Services Limited

Statement of income and retained earnings

For the year ended 31 March 2026

	2026	2025
Note	£	£


Turnover	4	12,454,487	10,178,339
Cost of sales		(747,942)	(294,874)
Gross profit		11,706,545	9,883,465
Administrative expenses		(9,572,831)	(8,164,096)
Operating profit	5	2,133,714	1,719,369
Interest receivable and similar income	9	23,415	35,064
Interest payable and similar expenses		(24,980)	-
Profit before tax		2,132,149	1,754,433
Tax on profit	11	163,782	197,497
Profit after tax		2,295,931	1,951,930



Retained earnings at the beginning of the year		6,011,495	4,254,565
		6,011,495	4,254,565
Profit for the year		2,295,931	1,951,930
Dividends declared and paid	12	(2,957,866)	(195,000)
Retained earnings at the end of the year		5,349,560	6,011,495

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of income and retained earnings.

The notes on pages 11 to 22 form part of these financial statements.

Page 9


CoreTech Security Services Limited - Registered number:12486085

Statement of financial position

As at 31 March 2026

	2026	2026	2025	2025
Note	£	£	£	£

Fixed assets
Tangible assets	13		1,424,381		1,509,434
			1,424,381		1,509,434
Current assets
Debtors: amounts falling due after more than one year	14	117,627		-
Debtors	14	3,178,657		2,731,352
Cash at bank and in hand		3,245,886		4,180,264
		6,542,170		6,911,616
Creditors: amounts falling due within one year	15	(2,265,572)		(2,034,887)
Net current assets			4,276,598		4,876,729
Total assets less current liabilities			5,700,979		6,386,163
Provisions for liabilities
Deferred tax	16	(320,499)		(350,542)
			(320,499)		(350,542)
Net assets			5,380,480		6,035,621

Capital and reserves
Share capital	17	200	200
Other reserves	18	30,720	23,926
Profit and loss account	18	5,349,560	6,011,495
		5,380,480	6,035,621

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

A J Church

Director

Date: 27 August 2026

The notes on pages 11 to 22 form part of these financial statements.

Page 10


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

1.	General information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office and trading address is Honeybourne Place, Jessop Avenue, Cheltenham, Gloucestershire, United Kingdom, GL50 3SH and the company registration is 12486085.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102 section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS
102') and the Companies Act 2006.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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Coretech Security Holdings Limited as at 31 March 2026 and these financial statements may be obtained from Companies House.

Page 11


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 12


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

2.Accounting policies (continued)

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

2.Accounting policies (continued)

2.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements	-	10%
Fixtures and fittings	-	10%
Office equipment	-	25%
Computer equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.13

Creditors

Short term creditors are measured at the transaction price.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 14


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Sales - Labour	11,793,107	10,072,584
Sales - Rechargeable expenses	661,254	105,636
Other income	126	119
	12,454,487	10,178,339

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	12,454,487	10,178,339
	12,454,487	10,178,339

Depreciation	387,300	331,405
Exchange differences	262	1,759
Other operating lease rentals	373,564	367,977

Page 15


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

Fees payable to the company's auditors for the audit of the company's financial statements

21,000

25,000

Wages and salaries	6,302,587	5,354,762
Social security costs	800,780	592,377
Cost of defined contribution scheme	440,429	376,258
	7,543,796	6,323,397

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Admin	10	6
Sales	4	6
Technological	65	55

	79	67

Page 16


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

8.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	292,991	220,336
Company contributions to defined contribution pension schemes	23,351	18,081
	316,342	238,417

	The highest paid director received remuneration of £129,897 (2025 - £90,196).
	The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £10,410 (2025 - £7,544).

CEO pay ratio

Under the Good Business Charter, we report the ratio of the Chief Executive Officer’s (CEO) total annual remuneration to the median annual pay of all other employees. For the year ended 31 March 2026, the CEO pay ratio was, 2.5:1. The company remains committed to fair pay practices and will continue to disclose this ratio annually.

9.	Interest receivable
		2026	2025
		£	£

	Other interest receivable	23,415	35,064
		23,415	35,064

10.	Interest payable and similar expenses
		2026	2025
		£	£

	Other loan interest payable	24,980	-
		24,980	-

Page 17


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

Corporation tax
Current tax on profits for the year	(133,739)	(202,864)

Total current tax	(133,739)	(202,864)

Deferred tax
Fixed asset timing differences	(30,043)	5,367
Total deferred tax	(30,043)	5,367

Profit on ordinary activities before tax

2,132,149

1,754,433

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	533,037	438,608
Effects of:
Fixed asset differences	-	(3,600)
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	20,549	11,192
Enhanced tax relief on qualifying research and development expenditure	238,804	212,803
Non-taxable income	(958)	-
Adjustment in research and development tax credit leading to a decrease in the tax charge	(955,214)	(856,500)
Total tax charge for the year	(163,782)	(197,497)

Factors that may affect future tax charges

The deferred taxes at the reporting date reflected in these financial statements have been measured at the UK rates likely to be applied when the deferred taxes crystallise.

Page 18


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

12.	Dividends
		2026	2025
		£	£

	Interim dividends paid	2,957,866	195,000
		2,957,866	195,000

13.	Tangible fixed assets

	Leasehold improvements	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025	777,569	479,832	137,717	878,454	2,273,572
Additions	63,264	12,408	10,921	215,654	302,247
At 31 March 2026	840,833	492,240	148,638	1,094,108	2,575,819
Depreciation
At 1 April 2025	208,727	98,216	92,902	364,293	764,138
Charge for the year	79,536	48,352	29,075	230,337	387,300
At 31 March 2026	288,263	146,568	121,977	594,630	1,151,438
Net book value
At 31 March 2026	552,570	345,672	26,661	499,478	1,424,381
At 31 March 2025	568,842	381,616	44,815	514,161	1,509,434

Page 19


CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

14.	Debtors
		2026	2025
		£	£

Due after more than one year
Other debtors	117,627	-
	117,627	-

					2026	2025
					£	£

Due within one year
Trade debtors	484,758	1,575,422
Other debtors	487,274	561,837
Prepayments and accrued income	2,206,625	594,093
	3,178,657	2,731,352

15.	Creditors: amounts falling due within one year
		2026	2025
		£	£

Trade creditors	225,830	139,983
Other taxation and social security	822,069	798,738
Other creditors	180,215	128,309
Accruals	1,037,458	967,857
	2,265,572	2,034,887

16.	Deferred taxation

		2026
		£

	At beginning of year	(350,542)
	Charged to profit or loss	30,043
	At end of year	(320,499)

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CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

16.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Fixed asset timing differences	(335,160)	(369,740)
Short term timing differences	14,661	19,198
	(320,499)	(350,542)

17.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

20,000 (2025 - 20,000) Ordinary shares of £0.01 each	200	200

18.

Reserves

Profit and loss account

Includes all current and prior year profits and losses, net of dividends paid.

19.	Pension commitments

The company contributes to employees' personal pension schemes. The assets of those schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the fund and amounted to £440,429 (2025 - £368,714). Contributions totaling £83,796 (2025 - £76,792) were payable to the fund at the balance sheet date and are included in other creditors.

Not later than 1 year	355,804	355,804
Later than 1 year and not later than 5 years	1,423,216	1,423,216
Later than 5 years	211,025	566,829
	1,990,045	2,345,849

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CoreTech Security Services Limited

Notes to the financial statements

For the year ended 31 March 2026

21.

Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with the immediate parent company or any wholly owned subsidiary undertakings of the group headed by Coretech Security Holdings Limited.

During the year, the company received and fully repaid a loan of £750,000 from a company under common control. Interest was charged at the Bank of England base rate plus 2%, resulting in interest expense of £24,980 recognised in the statement of income and retained earnings.

22.	Controlling party

The immediate and ultimate parent undertaking of the company is Coretech Security Holdings Limited, a company incorporated in England and Wales.

The smallest and largest group of undertakings for which group accounts have been drawn up which include the company is headed by Coretech Security Holdings Limited. Its registered office and principal place of business is Honeybourne Place, Jessop Avenue, Cheltenham, Gloucestershire, GL50 3SH.

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