Company No: 04123381 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	615		487
		615		487
Current assets
Debtors	5	1,846,514		1,854,630
Cash at bank and in hand		77,566		18,019
		1,924,080		1,872,649
Creditors: amounts falling due within one year	6	( 103,611)		( 118,317)
Net current assets		1,820,469		1,754,332
Total assets less current liabilities		1,821,084		1,754,819
Net assets		1,821,084		1,754,819
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		1,820,984		1,754,719
Total shareholder's funds		1,821,084		1,754,819

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of FireFly Technology Limited (registered number: 04123381) were approved and authorised for issue by the Director on 08 September 2026. They were signed on its behalf by:

T P E Williams Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

FireFly Technology Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, England, OX2 7DY, Oxford, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

Employee benefits

Short term benefits
Short-term employees benefits are recognised as an expense in the period in which they are incurred.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		6

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	300,000		300,000
At 31 December 2025	300,000		300,000
Accumulated amortisation
At 01 January 2025	300,000		300,000
At 31 December 2025	300,000		300,000
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2025	110		4,053		4,448		8,611
Additions	0		0		333		333
Disposals	0		0		( 414)		( 414)
At 31 December 2025	110		4,053		4,367		8,530
Accumulated depreciation
At 01 January 2025	110		3,566		4,448		8,124
Charge for the financial year	0		122		83		205
Disposals	0		0		( 414)		( 414)
At 31 December 2025	110		3,688		4,117		7,915
Net book value
At 31 December 2025	0		365		250		615
At 31 December 2024	0		487		0		487

5. Debtors

	2025		2024
	£		£
Trade debtors	1,593		3,182
Amounts owed by Group undertakings	1,843,892		1,824,164
Other debtors	1,029		27,284
	1,846,514		1,854,630

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	307		1,585
Taxation and social security	77,375		108,648
Other creditors	25,929		8,084
	103,611		118,317

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Oriniary ordinary shares of £ 1.00 each	100		100

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	0		18,333

9. Related party transactions

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose transactions with wholly owned subsidiaries in the group.

10. Ultimate controlling party

The controlling party is Belgarum Technology Holdings Ltd.

The ultimate controlling party is T P E Williams.