Technology Management Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 03100541

Technology Management Limited

Financial Statements

31 December 2025

Technology Management Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Consolidated statement of comprehensive income	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of changes in equity	13

Company statement of changes in equity	14

Consolidated statement of cash flows	15

Notes to the financial statements	16

Technology Management Limited

Officers and Professional Advisers

The board of directors	A M Crowter
	J H Crowter
	M J H Woodhouse
	E Delaney
	L Round
	L Walton

Registered office	St Mark's Church
	St Marks Road
	Wolverhampton
	West Midlands
	WV3 0QH

Auditor	Muras Baker Jones Limited
	Chartered accountants & statutory auditor
	Regent House
	Bath Avenue
	Wolverhampton
	West Midlands
	WV1 4EG

Technology Management Limited

Strategic Report

Year ended 31 December 2025

Principal activities, review of business and future developments The principal activity of the group during the year was the supply of business applications, via licences, products, services, subscriptions and consultancy time. The company focuses on providing the subscriptions and services needed by mid-market companies to successfully implement and operate the Microsoft Dynamics suite of business applications. The directors are pleased with the results for the year and consider the position at the Statement of Financial Position date to be satisfactory. The directors expect that the company will be able to trade profitably for the foreseeable future. Principal risks and uncertainties Risks are monitored by senior management who are closely involved on a day to day basis with the running of the company. The directors consider the following to be major risks and uncertainties faced by the group at this point in time. Skills retention - the group is highly dependent on a skilled workforce and focuses on staff retention through continuous investment in staff training and wellbeing to ensure a highly skilled workforce. The company also spends considerable time and investment developing new talent so that straightforward succession plans is in place for the small number of leavers. The company seeks to manage the risk of losing customers to competitors by the provision of a compelling proposition, unobtainable from its competition. This is based on having unique services and products closely aligned with the industry sectors our customers are in, backed up by quality services, dealing promptly with customer queries and maintaining strong relationships with customers. Recoverability of trade debtors - the group has a large spread of customers within the market it operates and is therefore able to minimise the risk of being over-reliant on a few major customers. The economic picture in our key market, the UK, remains uncertain at the start of 2026, but we know that our target clients have been adversely affected by changes to taxation and employment legislation, as well as rising energy and material costs. Management carefully monitor the future pipeline of work and, to date, have seen no decrease in the number or size of opportunities. At the start of 2026, we continue to have a full backlog of signed contracts and scheduled work. In addition, we know that the economic outlook is forcing clients to focus on efficiencies, resulting in extra requests to implement new ways of working. Business applications platforms can be rendered uncompetitive incredibly quickly by just one innovation previewed by a competitor. The company is confident that by partnering with Microsoft and others, and by investing in the best people and skills, it is competitively positioned to lead that revolution in ways of working. The next couple of years will see the maturation of recent agentic techniques, and the company has developed skills that will enable it to be ideally positioned to exploit new opportunities. Key performance indicators We consider that our key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, these being profit levels and profit margins. Investment in the prior year has resulted in better results in this year and the directors hope for continued growth in future years. As a private limited company owned by the company’s directors, with an increasingly strong balance sheet, we’ve been able to make the right long-term decisions for our staff, customers, and ultimately the company itself. We find this to be an almost unique position in the Microsoft Dynamics partner ecosystem, at least for partners of any scale. We have witnessed up close the destruction of value among partners who have succumbed to the M&A frenzy, and we have no wish to join them.

This report was approved by the board of directors on 9 September 2026 and signed on behalf of the board by:

J H Crowter

Director

Registered office:

St Mark's Church

St Marks Road

Wolverhampton

West Midlands

WV3 0QH

Technology Management Limited

Directors' Report

Year ended 31 December 2025

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

Directors

The directors who served the company during the year were as follows:

A M Crowter
J H Crowter
M J H Woodhouse
E Delaney
L Round
L Walton

Dividends

Particulars of recommended dividends are detailed in note 15 to the financial statements.

Disclosure of information in the strategic report

The directors have prepared a strategic report in accordance with the requirements of schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, 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 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 group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments 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 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 9 September 2026 and signed on behalf of the board by:

J H Crowter

Director

Registered office:

St Mark's Church

St Marks Road

Wolverhampton

West Midlands

WV3 0QH

Technology Management Limited

Independent Auditor's Report to the Members of Technology Management Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Technology Management Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows 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 FRS 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 group's and of the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 group 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 group's or the parent 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 auditor’s report thereon. The directors are responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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 group and the parent 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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: In planning and designing our audit tests we identify and assess the risks of material misstatement within the financial statements, whether due to fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management. We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. After consideration of the above risks we then carried out audit procedures including the following: - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of management meetings; - reviewing correspondence with H M Revenue & Customs; - enquiring of management and reviewing any correspondence with legal advisors concerning actual and potential litigation and claims; - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. There are inherent limitations in our audit procedures described above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 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.

Nicky Gibbons BSc (Hons) FCA

(Senior Statutory Auditor)

For and on behalf of

Muras Baker Jones Limited

Chartered accountants & statutory auditor

Regent House

Bath Avenue

Wolverhampton

West Midlands

WV1 4EG

9 September 2026

Technology Management Limited

Consolidated Statement of Comprehensive Income

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	19,936,017	17,071,483

Cost of sales	14,756,491	12,681,228
	-------------	-------------
Gross profit	5,179,526	4,390,255

Administrative expenses		3,961,883	3,296,154
Other operating income	5	6,804	–
		------------	------------
Operating profit	6	1,224,447	1,094,101

Income from shares in group undertakings	10	305,933	–
Income from other fixed asset investments	11	845	2,080
Other interest receivable and similar income	12	79,481	63,430
Amounts written back to investments		( 7,146)	( 10,661)
Interest payable and similar expenses	13	43,524	20,473
		------------	------------
Profit before taxation		1,574,328	1,149,799

Tax on profit	14	226,156	( 13,796)
		------------	------------
Profit for the financial year and total comprehensive income		1,348,172	1,163,595
		------------	------------

All the activities of the group are from continuing operations.

Technology Management Limited

Consolidated Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	17	2,079,188	2,130,015
Investments	18	259,837	117,592
		------------	------------
		2,339,025	2,247,607

Current assets

Stocks	19	302	302
Debtors	20	2,953,631	2,735,690
Cash at bank and in hand		2,186,350	1,321,836
		------------	------------
		5,140,283	4,057,828

Creditors: amounts falling due within one year	21	4,356,392	3,645,164
		------------	------------
Net current assets		783,891	412,664
		------------	------------
Total assets less current liabilities		3,122,916	2,660,271

Creditors: amounts falling due after more than one year	22	13,903	70,130

Provisions	23	136,800	172,300
		------------	------------
Net assets		2,972,213	2,417,841
		------------	------------

Capital and reserves

Called up share capital	26	33,830	33,830
Share premium account	27	20,110	20,110
Profit and loss account	27	2,918,273	2,363,901
		------------	------------
Shareholders funds		2,972,213	2,417,841
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 9 September 2026 , and are signed on behalf of the board by:

J H Crowter

Director

Company registration number: 03100541

Technology Management Limited

Company Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	17	2,079,185	2,130,012
Investments	18	255,478	118,704
		------------	------------
		2,334,663	2,248,716

Current assets

Stocks	19	302	302
Debtors	20	2,977,761	2,845,562
Cash at bank and in hand		2,174,650	1,275,481
		------------	------------
		5,152,713	4,121,345

Creditors: amounts falling due within one year	21	4,352,037	3,620,220
		------------	------------
Net current assets		800,676	501,125
		------------	------------
Total assets less current liabilities		3,135,339	2,749,841

Creditors: amounts falling due after more than one year	22	13,903	70,130

Provisions	23	136,800	172,300
		------------	------------
Net assets		2,984,636	2,507,411
		------------	------------

Capital and reserves

Called up share capital	26	33,830	33,830
Share premium account	27	20,110	20,110
Profit and loss account	27	2,930,696	2,453,471
		------------	------------
Shareholders funds		2,984,636	2,507,411
		------------	------------

The profit for the financial year of the parent company was £ 1,271,025 (2024: £ 1,306,341 ).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 9 September 2026 , and are signed on behalf of the board by:

J H Crowter

Director

Company registration number: 03100541

Technology Management Limited

Consolidated Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Share premium account	Profit and loss account	Total
		£	£	£	£
At 1 January 2024		33,829	20,110	2,011,448	2,065,387

Profit for the year				1,163,595	1,163,595
		--------	--------	------------	------------
Total comprehensive income for the year		–	–	1,163,595	1,163,595

Issue of shares		1	–	–	1
Dividends paid and payable	15	–	–	( 811,142)	( 811,142)
		--------	--------	------------	------------
Total investments by and distributions to owners		1	–	( 811,142)	( 811,141)

At 31 December 2024		33,830	20,110	2,363,901	2,417,841

Profit for the year				1,348,172	1,348,172
		--------	--------	------------	------------
Total comprehensive income for the year		–	–	1,348,172	1,348,172

Dividends paid and payable	15	–	–	( 793,800)	( 793,800)
		----	----	---------	---------
Total investments by and distributions to owners		–	–	( 793,800)	( 793,800)

		--------	--------	------------	------------
At 31 December 2025		33,830	20,110	2,918,273	2,972,213
		--------	--------	------------	------------

Technology Management Limited

Company Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Share premium account	Profit and loss account	Total
		£	£	£	£
At 1 January 2024		33,829	20,110	1,958,272	2,012,211

Profit for the year				1,306,341	1,306,341
		--------	--------	------------	------------
Total comprehensive income for the year		–	–	1,306,341	1,306,341

Issue of shares		1	–	–	1
Dividends paid and payable	15	–	–	( 811,142)	( 811,142)
		--------	--------	------------	------------
Total investments by and distributions to owners		1	–	( 811,142)	( 811,141)

At 31 December 2024		33,830	20,110	2,453,471	2,507,411

Profit for the year				1,271,025	1,271,025
		--------	--------	------------	------------
Total comprehensive income for the year		–	–	1,271,025	1,271,025

Dividends paid and payable	15	–	–	( 793,800)	( 793,800)
		----	----	---------	---------
Total investments by and distributions to owners		–	–	( 793,800)	( 793,800)

		--------	--------	------------	------------
At 31 December 2025		33,830	20,110	2,930,696	2,984,636
		--------	--------	------------	------------

Technology Management Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	1,348,172	1,163,595

Adjustments for:
Depreciation of tangible assets	281,844	245,845
Amounts written back to investments	( 7,146)	( 10,661)
Income from shares in group undertakings	( 305,933)	–
Income from other fixed asset investments	( 845)	( 2,080)
Other interest receivable and similar income	( 79,481)	( 63,430)
Interest payable and similar expenses	43,524	20,473
Loss on disposal of tangible assets	23,266	992
Tax on profit	226,156	( 13,796)
Accrued expenses/(income)	105,560	( 23,148)

Changes in:
Stocks	–	1,338
Trade and other debtors	( 217,941)	( 263,112)
Trade and other creditors	344,089	636,499
	------------	------------
Cash generated from operations	1,761,265	1,692,515

Interest paid	( 43,524)	( 20,473)
Interest received	79,481	63,430
Tax paid	( 77)	( 106,163)
	------------	------------
Net cash from operating activities	1,797,145	1,629,309
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 284,721)	( 304,376)
Proceeds from sale of tangible assets	30,438	–
Proceeds from sale of subsidiaries	305,933	–
Acquisition of interests in associates and joint ventures	( 5,471)	–
Purchases of other investments	( 154,598)	( 63,147)
Proceeds from sale of other investments	24,895	14,861
Dividends received	920	383
	------------	------------
Net cash used in investing activities	( 82,604)	( 352,279)
	------------	------------

Cash flows from financing activities

Proceeds from issue of other equity instrument	–	1
Proceeds from borrowings	( 56,227)	( 18,716)
Dividends paid	( 793,800)	( 811,142)
	------------	------------
Net cash used in financing activities	( 850,027)	( 829,857)
	------------	------------

Net increase in cash and cash equivalents	864,514	447,173
Cash and cash equivalents at beginning of year	1,321,836	874,663
	------------	------------
Cash and cash equivalents at end of year	2,186,350	1,321,836
	------------	------------

Technology Management Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Mark's Church, St Marks Road, Wolverhampton, West Midlands, WV3 0QH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of Technology Management Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year. Turnover in respect of long term contracts and contracts for on-going services is recognised by stage of completion. Turnover in respect of support contracts is being accounted for on an accruals basis. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	written off equally over its estimated useful economic life of 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	1%, 5% or 10% straight line
Plant and machinery	-	25% or 33.3% straight line
Fixtures and fittings	-	10%, 20% or 25% straight line
Motor vehicles	-	12.5% or 25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stock is valued at the lower of cost and net realisable value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	19,936,017	17,071,483
	-------------	-------------

The turnover is attributable to the one principal activity of the group. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	19,048,057	16,614,863
Overseas	887,960	456,620
	-------------	-------------
	19,936,017	17,071,483
	-------------	-------------

5. Other operating income

	2025	2024
	£	£
Other operating income	6,804	–
	-------	----

6. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	281,844	245,845
Loss on disposal of tangible assets	23,266	992
Impairment of trade debtors	6,050	49,629
Foreign exchange differences	7,857	17,815
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	14,000	12,150
	--------	--------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	7,793	9,211
	--------	--------

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	173	155
Management staff	5	5
	----	----
	178	160
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	10,277,660	8,685,258
Other pension costs	344,733	292,131
	-------------	------------
	10,622,393	8,977,389
	-------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	80,419	131,550
Company contributions to defined contribution pension plans	98,093	92,128
	---------	---------
	178,512	223,678
	---------	---------

10. Income from shares in group undertakings

	2025	2024
	£	£
(Gain)/loss on disposal of shares in group	305,933	–
	---------	----

11. Income from other fixed asset investments

	2025	2024
	£	£
Dividends from other fixed asset investments	920	383
(Gain)/loss on disposal of other fixed asset investments	(75)	1,697
	----	-------
	845	2,080
	----	-------

12. Other interest receivable and similar income

	2025	2024
	£	£
Interest on loans and receivables	40,011	14,441
Interest on cash and cash equivalents	39,470	44,557
Interest on corporation tax	–	4,432
	--------	--------
	79,481	63,430
	--------	--------

13. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	43,524	20,473
	--------	--------

14. Tax on profit

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense	261,579	100,954
Adjustments in respect of prior periods	77	( 139,950)
	---------	---------
Total current tax	261,656	( 38,996)
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 35,500)	25,200
	---------	--------
Tax on profit	226,156	( 13,796)
	---------	--------

Reconciliation of tax expense/(income)

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,574,328	1,149,799
	------------	------------
Profit on ordinary activities by rate of tax	393,582	287,450
Adjustment to tax charge in respect of prior periods	77	( 139,950)
Effect of expenses not deductible for tax purposes	7,204	5,104
Effect of capital allowances and depreciation	40	( 40)
Research and development	( 152,633)	( 188,656)
Other tax adjustment	( 20,097)	22,392
Dividend income	( 2,017)	( 96)
	------------	------------
Tax on profit	226,156	( 13,796)
	------------	------------

15. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	793,800	811,142
	---------	---------

16. Intangible assets

Group and company	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	489,338
	---------
Amortisation
At 1 January 2025 and 31 December 2025	489,338
	---------
Carrying amount
At 1 January 2025 and 31 December 2025	–
	---------
At 31 December 2024	–
	---------

17. Tangible assets

Group	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2025	2,067,703	1,236,870	258,473	253,825	3,816,871
Additions	83,596	50,651	23,987	126,487	284,721
Disposals	–	( 37,816)	( 125)	( 62,750)	( 100,691)
	------------	------------	---------	---------	------------
At 31 December 2025	2,151,299	1,249,705	282,335	317,562	4,000,901
	------------	------------	---------	---------	------------
Depreciation
At 1 January 2025	522,765	888,084	220,995	55,012	1,686,856
Charge for the year	74,173	150,820	11,269	45,582	281,844
Disposals	–	( 29,868)	( 124)	( 16,995)	( 46,987)
	------------	------------	---------	---------	------------
At 31 December 2025	596,938	1,009,036	232,140	83,599	1,921,713
	------------	------------	---------	---------	------------
Carrying amount
At 31 December 2025	1,554,361	240,669	50,195	233,963	2,079,188
	------------	------------	---------	---------	------------
At 31 December 2024	1,544,938	348,786	37,478	198,813	2,130,015
	------------	------------	---------	---------	------------

Company	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2025	2,067,703	1,236,457	258,473	253,825	3,816,458
Additions	83,596	50,651	23,987	126,487	284,721
Disposals	–	( 37,816)	( 125)	( 62,750)	( 100,691)
	------------	------------	---------	---------	------------
At 31 December 2025	2,151,299	1,249,292	282,335	317,562	4,000,488
	------------	------------	---------	---------	------------
Depreciation
At 1 January 2025	522,765	887,674	220,995	55,012	1,686,446
Charge for the year	74,173	150,820	11,269	45,582	281,844
Disposals	–	( 29,868)	( 124)	( 16,995)	( 46,987)
	------------	------------	---------	---------	------------
At 31 December 2025	596,938	1,008,626	232,140	83,599	1,921,303
	------------	------------	---------	---------	------------
Carrying amount
At 31 December 2025	1,554,361	240,666	50,195	233,963	2,079,185
	------------	------------	---------	---------	------------
At 31 December 2024	1,544,938	348,783	37,478	198,813	2,130,012
	------------	------------	---------	---------	------------

18. Investments

Group	Interests in associates	Other investments other than loans	Total
	£	£	£
Share of net assets/cost
At 1 January 2025	–	117,592	117,592
Additions	5,471	154,598	160,069
Disposals	–	( 24,970)	( 24,970)
Revaluations	–	7,146	7,146
	-------	---------	---------
At 31 December 2025	5,471	254,366	259,837
	-------	---------	---------
Impairment
At 1 January 2025 and 31 December 2025	–	–	–
	-------	---------	---------

Carrying amount
At 31 December 2025	5,471	254,366	259,837
	-------	---------	---------
At 31 December 2024	–	117,592	117,592
	-------	---------	---------

Company	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 January 2025	1,112	117,592	118,704
Additions	–	154,598	154,598
Disposals	–	( 24,970)	( 24,970)
Revaluations	–	7,146	7,146
	-------	---------	---------
At 31 December 2025	1,112	254,366	255,478
	-------	---------	---------
Impairment
At 1 January 2025 and 31 December 2025	–	–	–
	-------	---------	---------

Carrying amount
At 31 December 2025	1,112	254,366	255,478
	-------	---------	---------
At 31 December 2024	1,112	117,592	118,704
	-------	---------	---------

Subsidiaries, associates and other investments

Details of the investments in which the group and the parent company have an interest of 20% or more are as follows:

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Clever Dynamics Limited	St Mark's Church	Ordinary	100
	St Marks Road
	Wolverhampton
	West Midlands
	WV3 0QH
Tecman Inc.	252 W. 37th Street Ste 600	Ordinary	100
	New York
	NY
	10018

Technology Management (Germany) Limited	St Mark's Church	Ordinary	100
	St Marks Road
	Wolverhampton
	West Midlands
	WV3 0QH

19. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Raw materials and consumables	302	302	302	302
	----	----	----	----

20. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	1,525,659	1,691,192	1,525,659	1,670,750
Amounts owed by group undertakings	–	–	24,130	134,538
Amounts owed by undertakings in which the company has a participating interest	153,795	–	153,795	–
Prepayments and accrued income	366,819	188,609	366,819	186,574
Corporation tax repayable	–	43,428	–	43,428
Directors loan account	666,347	559,292	666,347	559,292
Other debtors	241,011	253,169	241,011	250,980
	------------	------------	------------	------------
	2,953,631	2,735,690	2,977,761	2,845,562
	------------	------------	------------	------------

21. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Payments received on account	119,339	136,180	119,339	136,180
Trade creditors	1,169,576	1,274,401	1,165,224	1,261,276
Accruals and deferred income	752,310	646,750	752,307	645,755
Corporation tax	261,579	–	261,579	–
Social security and other taxes	924,094	761,146	924,094	750,368
Other creditors	1,129,494	826,687	1,129,494	826,641
	------------	------------	------------	------------
	4,356,392	3,645,164	4,352,037	3,620,220
	------------	------------	------------	------------

22. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Director loan accounts	13,903	70,130	13,903	70,130
	--------	--------	--------	--------

23. Provisions

Group and company	Deferred tax (note 24)
	£
At 1 January 2025	172,300
Charge against provision	( 35,500)
	---------
At 31 December 2025	136,800
	---------

24. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 23)	136,800	172,300	136,800	172,300
	---------	---------	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	136,800	172,300	136,800	172,300
	---------	---------	---------	---------

25. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 344,733 (2024: £ 292,131 ).

26. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	33,824	33,824	33,824	33,824
Preference shares of £ 1 each	6	6	6	6
	--------	--------	--------	--------
	33,830	33,830	33,830	33,830
	--------	--------	--------	--------

27. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs . Profit and loss account - This reserve records retained earnings and accumulated losses.

28. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	214,055	192,344	214,055	192,344
Later than 1 year and not later than 5 years	296,353	201,123	296,353	201,123
	---------	---------	---------	---------
	510,408	393,467	510,408	393,467
	---------	---------	---------	---------

29. Directors' advances, credits and guarantees

Included within creditors are director's loans totalling £13,903 (2024 : £70,130). Also, £666,347 (2024 - £559,292) is included within debtors relating to director's loans. Interest is payable at 2% per annum.