Company No: 04918266 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	796		1,447
Investments	5	674		674
		1,470		2,121
Current assets
Debtors	6	46,910		414,571
Cash at bank and in hand		3,083		8,051
		49,993		422,622
Creditors: amounts falling due within one year	7	( 55,722)		( 73,645)
Net current (liabilities)/assets		(5,729)		348,977
Total assets less current liabilities		(4,259)		351,098
Creditors: amounts falling due after more than one year	8	( 23,845)		( 30,800)
Provision for liabilities		( 152)		( 275)
Net (liabilities)/assets		( 28,256)		320,023
Capital and reserves
Called-up share capital	9	50,000		50,000
Profit and loss account		( 78,256 )		270,023
Total shareholders' (deficit)/funds		( 28,256)		320,023

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 members have 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 TX Squared Ltd (registered number: 04918266) were approved and authorised for issue by the Director on 21 September 2026. They were signed on its behalf by:

Richard John Baker 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

TX Squared Ltd (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 6 Broadgate Farm Hook Road, Ampfield, Romsey, SO51 9AU, 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 £.

Going concern

The company relies upon the support of the director.

Due to this ongoing support the director believes that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future and the financial statements do not incorporate any adjustments that might be required should the going concern basis prove to be inappropriate.

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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

8 years straight line

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over its estimated useful life of eight 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

2 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in subsidiary undertakings are recognised at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2025	8,000		8,000
At 31 December 2025	8,000		8,000
Accumulated amortisation
At 01 January 2025	8,000		8,000
At 31 December 2025	8,000		8,000
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 January 2025	70,756		70,756
Additions	553		553
Disposals	( 45,757)		( 45,757)
At 31 December 2025	25,552		25,552
Accumulated depreciation
At 01 January 2025	69,309		69,309
Charge for the financial year	1,204		1,204
Disposals	( 45,757)		( 45,757)
At 31 December 2025	24,756		24,756
Net book value
At 31 December 2025	796		796
At 31 December 2024	1,447		1,447

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	674
At 31 December 2025	674
Carrying value at 31 December 2025	674
Carrying value at 31 December 2024	674

6. Debtors

	2025		2024
	£		£
Trade debtors	17,067		14,474
Amounts owed by Group undertakings	0		355,486
Corporation tax	1,776		0
Other debtors	28,067		44,611
	46,910		414,571

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	6,979		7,003
Taxation and social security	11,889		34,221
Other creditors	36,854		32,421
	55,722		73,645

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

	2025		2024
	£		£
Bank loans (secured)	23,845		30,800

Included in bank loans is £30,824 that relates to the Coronavirus Bounce Back Loan Scheme which has a government-backed guarantee against the outstanding facility balance.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each	50,000		50,000

10. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Balance outstanding at start of year	44,610		0
Amounts advanced	45,255		48,455
Amounts repaid	(61,798)		(3,845)
Balance outstanding at end of year	28,067		44,610

This loan was unsecured with interest charged on overdrawn balances at HMRC approved rates and the repayment date was unspecified.