ACCOUNTS - Final Accounts preparation

Registered number: 11487442

GRANITEXS LTD (FORMERLY GRANITEME LTD)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2025

GRANITEXS LTD (FORMERLY GRANITEME LTD)

REGISTERED NUMBER: 11487442

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		496,748		360,049
Tangible assets	5		3,112		4,367
			499,860		364,416
Current assets
Debtors: amounts falling due within one year	6	36,107		75,814
Cash at bank and in hand	7	103,093		325,945
		139,200		401,759
Creditors: amounts falling due within one year	8	(25,163)		(13,255)
Net current assets			114,037		388,504
Total assets less current liabilities			613,897		752,920

Net assets			613,897		752,920

Capital and reserves
Called up share capital	9	362	287
Share premium account		1,625,421	1,325,496
Profit and loss account		(1,011,886)	(572,863)
		613,897	752,920

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GRANITEXS LTD (FORMERLY GRANITEME LTD)

REGISTERED NUMBER: 11487442

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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

M Elvey

Director

Date: 15 September 2026

The notes on pages 3 to 8 form part of these financial statements.

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GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	General information

Graniteme Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (Registered number: 11487442). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

The principal activity of the company continued to be that of software development.

The financial statements are presented in Sterling, which is the functional currency of the company.

During the year the company changed its name from GraniteME Ltd to GraniteXS Ltd.

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, the Financial Reporting Standard applicable in the UK and the Republic of Ireland 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

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GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.4

Interest income

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

2.5

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.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Taxation

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.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure

years

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GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.9

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.

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:

Computer equipment

25%

straight-line method

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.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Page 5

GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 August 2024	717,234
	Additions	274,698
	At 31 July 2025	991,932
	Amortisation
	At 1 August 2024	357,185
	Charge for the year on owned assets	137,999
	At 31 July 2025	495,184
	Net book value
	At 31 July 2025	496,748
	At 31 July 2024	360,049

Page 6

GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 August 2024	7,146
	At 31 July 2025	7,146
	Depreciation
	At 1 August 2024	2,779
	Charge for the year on owned assets	1,255
	At 31 July 2025	4,034
	Net book value
	At 31 July 2025	3,112
	At 31 July 2024	4,367

Page 7

GRANITEXS LTD (FORMERLY GRANITEME LTD)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	1,140
Other debtors	27,729	74,674
Prepayments and accrued income	8,378	-
	36,107	75,814

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	103,094	325,945
Less: bank overdrafts	(11,857)	-
	91,237	325,945

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	11,856	-
Trade creditors	-	79
Other taxation and social security	-	6,127
Other creditors	(17)	549
Accruals and deferred income	13,324	6,500
	25,163	13,255

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

3,619,543 (2024 - 2,869,542) Ordinary shares of £0.0001 each	361.9543	286.9542

During the year 7,50,000 Ordinary shares of £0.0001 each were issued.

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