Techworkshub Ltd 31/12/2025 iXBRL

Company registration number: SC170059

Techworkshub Ltd

Company limited by guarantee

Unaudited financial statements

31 December 2025

Techworkshub Ltd

Company limited by guarantee

Contents

Directors and other information

Directors report

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Techworkshub Ltd

Company limited by guarantee

Directors and other information


	Directors	Charles Sturman
		Luke Ibbetson
		Stan Boland


	Secretary	Dentons


	Company number	SC170059


	Registered office	1 George Square
		Glasgow
		G2 1AL


	Business address	1 George Square
		Glasgow
		G2 1AL

Techworkshub Ltd

Company limited by guarantee

Directors report

Year ended 31 December 2025

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

Directors

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

Charles Sturman

Luke Ibbetson

Stan Boland

Other matters

PRINCIPAL ACTIVITY

TechWorks is an industry association supporting the UK's deep tech community, with activities spanning semiconductors, electronic systems, cybersecurity and emerging technologies.

The organisation brings together companies, universities, research organisations and other stakeholders through industry communities, working groups, events and collaborative programmes. TechWorks also works closely with UK Government and other industry bodies to support innovation, skills, investment and the growth of the UK's technology industries.

In addition to membership and events activity, TechWorks participates in Government-backed and collaborative research and development programmes and provides administrative and support services to partner organisations.

RESULTS AND FINANCIAL POSITION

Turnover for the year was £1,978,198, compared with £2,193,522 in 2024. The company recorded a loss before taxation of £215,819, compared with a loss of £32,708 in the previous year. At 31 December 2025, the company had net liabilities of £335,138, compared with £119,319 at 31 December 2024.

The increased loss principally reflects two factors: a substantial reduction in funded project activity during 2025 and investment made in developing a new TechWorks AI member network.

Historically, TechWorks has participated in Government-backed collaborative R programmes. These programmes support the organisation's industry objectives while also contributing towards the costs of delivering services to members.

During 2025, several anticipated UK collaborative R funding opportunities were delayed, or cancelled, resulting in significantly lower project income compared with 2024. This, together with lower than anticipated uptake for the new TechWorks AI initiative resulted in a substantial reduction in income. Management took measures to address the resulting gap, but the impact could not be fully mitigated within the 2025 financial year.

MEMBERSHIP

During 2025, TechWorks continued to support members through industry communities, technical working groups, networking activities, events, Government engagement and collaborative programmes. Membership income increased by 9% compared with 2024.

EVENTS

Events continue to form an important part of TechWorks' role in bringing UK industry together and provides an additional source of commercial sponsorship income. During 2025 the organisation continued to deliver cross-sector conferences, working groups, webinars and networking events. Events income increased modestly compared with the previous year.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 15 September 2026 and signed on behalf of the board by:

Charles Sturman

Director

Techworkshub Ltd

Company limited by guarantee

Statement of comprehensive income

Year ended 31 December 2025

		2025	2024
	Note	£	£


Turnover		1,978,198	2,193,522
Cost of sales		( 1,074,154)	( 1,116,186)
		_______	_______
Gross profit		904,044	1,077,336

Administrative expenses		( 1,119,863)	( 1,110,044)
		_______	_______
Operating loss		( 215,819)	( 32,708)

Loss before taxation	6	( 215,819)	( 32,708)

Tax on loss		-	-
		_______	_______
Loss for the financial year and total comprehensive income		( 215,819)	( 32,708)
		_______	_______

All the activities of the company are from continuing operations.

Techworkshub Ltd

Company limited by guarantee

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	7	13,222		13,146
		_______		_______
			13,222		13,146

Current assets
Debtors	8	61,926		185,236
Cash at bank and in hand		39,109		75,697
		_______		_______
		101,035		260,933
Creditors: amounts falling due
within one year	9	( 449,395)		( 393,398)
		_______		_______
Net current liabilities			( 348,360)		( 132,465)
			_______		_______
Total assets less current liabilities			( 335,138)		( 119,319)

			_______		_______
Net liabilities			( 335,138)		( 119,319)
			_______		_______

Capital and reserves
Profit and loss account			( 335,138)		( 119,319)
			_______		_______
Members deficit			( 335,138)		( 119,319)
			_______		_______

For the 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.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 15 September 2026 , and are signed on behalf of the board by:

Charles Sturman

Director

Company registration number: SC170059

Techworkshub Ltd

Company limited by guarantee

Statement of changes in equity

Year ended 31 December 2025

	Profit and loss account	Total
	£	£


At 1 January 2024	( 86,611)	( 86,611)

Loss for the year	( 32,708)	( 32,708)
	_______	_______
Total comprehensive income for the year	( 32,708)	( 32,708)

	_______	_______
At 31 December 2024 and 1 January 2025	( 119,319)	( 119,319)

Loss for the year	( 215,819)	( 215,819)
	_______	_______
Total comprehensive income for the year	( 215,819)	( 215,819)

	_______	_______
At 31 December 2025	( 335,138)	( 335,138)
	_______	_______

Techworkshub Ltd

Company limited by guarantee

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 1 George Square, Glasgow, G2 1AL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:

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

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Limited by guarantee

Private company limited by guarantee without share capital.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2024: 25 ).

6. Loss before taxation

Loss before taxation is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible assets	2,804	2,320
	_______	_______

7. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 January 2025	84,191	84,191
Additions	2,880	2,880
	_______	_______
At 31 December 2025	87,071	87,071
	_______	_______
Depreciation
At 1 January 2025	71,045	71,045
Charge for the year	2,804	2,804
	_______	_______
At 31 December 2025	73,849	73,849
	_______	_______
Carrying amount
At 31 December 2025	13,222	13,222
	_______	_______
At 31 December 2024	13,146	13,146
	_______	_______

8. Debtors

	2025	2024
	£	£
Trade debtors	51,030	90,202
Other debtors	10,896	95,034
	_______	_______
	61,926	185,236
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	106,654	120,294
Social security and other taxes	128,074	68,925
Other creditors	214,667	204,179
	_______	_______
	449,395	393,398
	_______	_______