MIMETRIK SOLUTIONS LIMITED


Directors	KEELING, Andrew James
	MAIRAJ, Arshad Khawar, Dr.
	MILNES, Robert Crowther
	MORGAN, Alyn Denis


Registered Address	Nexus
	Discovery Way
	Leeds
	LS2 3AA


Registered Number	12456980 (England and Wales)

Statement of Financial Position
28 February 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		122,897		86,942
			122,897		86,942
Current assets
Stocks		63,317		-
Debtors	4	27,745		264,490
Cash at bank and on hand		513,130		1,013,222
		604,192		1,277,712
Creditors amounts falling due within one year	5	(80,603)		(57,130)
Net current assets (liabilities)			523,589		1,220,582
Total assets less current liabilities			646,486		1,307,524
Creditors amounts falling due after one year	6		(293,554)		-
Net assets			352,932		1,307,524
Capital and reserves
Called up share capital			24		24
Share premium			2,650,018		2,650,018
Profit and loss account			(2,297,110)		(1,342,518)
Shareholders' funds			352,932		1,307,524

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 September 2026, and are signed on its behalf by:

MORGAN, Alyn Denis
Director
Registered Company No. 12456980

MIMETRIK SOLUTIONS LIMITED

Notes to the Financial Statements
for the year ended 28 February 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and reigstered in England and Wales. The company's registered number and registered office address can be found on the Company Information Page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

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 obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	The company has trading losses of approximately £2,341,000 (2025 - £1,280,000) to carry forward and offset against future trading profits.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	5
	Office Equipment	5

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	12		12

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 March 25	2,899	136,091	138,990
Additions	34,500	44,948	79,448
At 28 February 26	37,399	181,039	218,438
Depreciation and impairment
At 01 March 25	2,513	49,535	52,048
Charge for year	7,286	36,207	43,493
At 28 February 26	9,799	85,742	95,541
Net book value
At 28 February 26	27,600	95,297	122,897
At 28 February 25	386	86,556	86,942

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	-	222,790
Other debtors	27,736	37,731
Prepayments and accrued income	9	3,969
Total	27,745	264,490


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	32,440	23,582
Bank borrowings and overdrafts	2,985	3,440
Taxation and social security	26,681	25,940
Other creditors	6,466	2,668
Accrued liabilities and deferred income	12,031	1,500
Total	80,603	57,130


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	293,554	-
Total	293,554	-


	The following liabilities disclosed under creditors falling due after one year are secured by the company:- Bank borrowings and overdrafts £293,554 (2025 - £Nil)

7.	Other commitments
	At 28th February 2026, the company had future minimum lease payments under non-cancellable operating leases of £187,380 (2025 - £90,180)