MildTech UK Ltd

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

1.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Straight Line
Fixtures & Fittings	20% Straight Line

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

1.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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MildTech UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 January 2025 to 30 June 2026

1.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

1.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

1.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

1.10. Research and development costs

Costs associated to research and development are expensed in the applicable year in which they are utilised.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 5 (2024: 5)

3. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2025	252,500	3,712	256,212
Additions	8,598	-	8,598
Disposals	(128,796 )	-	(128,796 )

As at 30 June 2026	132,302	3,712	136,014

Depreciation
As at 1 January 2025	33,155	599	33,754
Provided during the period	39,424	1,114	40,538
Disposals	(18,813 )	-	(18,813 )

As at 30 June 2026	53,766	1,713	55,479

Net Book Value
As at 30 June 2026	78,536	1,999	80,535

As at 1 January 2025	219,345	3,113	222,458

The net book value of Plant and Machinery totalling £106,674 has been reclassified as inventory.

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MildTech UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 January 2025 to 30 June 2026

4. Stocks

	30 June 2026	31 December 2024
	£	£
Stock	110,265	-

5. Debtors

	30 June 2026	31 December 2024
	£	£
Due within one year
Trade debtors	-	21,786
Other debtors	7,661	123,597

	7,661	145,383

6. Creditors: Amounts Falling Due Within One Year

	30 June 2026	31 December 2024
	£	£
Trade creditors	2,833	90,602
Bank loans and overdrafts	-	198
Other loans	86,000	119,029
Other creditors	9,479	123,605
Taxation and social security	6,894	37,251

	105,206	370,685

7. Creditors: Amounts Falling Due After More Than One Year

	30 June 2026	31 December 2024
	£	£
Other creditors	10,799	36,298

	10,799	36,298

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MildTech UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 January 2025 to 30 June 2026

8. Share Capital

	30 June 2026	31 December 2024
	£	£
Allotted, Called up and fully paid	4	3

During the period, each of the company’s 3,000 Ordinary shares of £0.001 was subdivided into 1,000 Ordinary shares of £0.000001, resulting in 3,000,000 ordinary shares. The subdivision did not change the aggregate nominal value of the company’s issued share capital.

Within other reserves is £86,351 whereby the directors agreed to convert their outstanding loans made to the company by a way of a capital contribution.

On 27 February 2026, the company issued 190,884 Ordinary shares of £0.000001 each in settlement of loans totalling £89,028.

On 4 March 2026, the company issued 536,020 Ordinary A shares of £0.000001 each for cash consideration of £250,000. On 11 March 2026, it issued a further 150,085 Ordinary A shares of £0.000001 each for cash consideration of £70,000.

At 30 June 2026, the company had 3,190,884 ordinary shares and 686,105 Ordinary A shares in issue, being 3,876,989 shares with an aggregate nominal value of £3.88.

9. Pension Commitments

The company operates a defined contribution pension scheme for its' employees. Other creditors at the balance sheet date includes unpaid contributions of £121 (2024: £94) due to the fund.

10. Related Party Transactions

Included within Other loans is a balance of £86,000 (2024: £30,000) owed to a company in which one of the directors holds a 50% interest.

Included within Other loans is a balance of £Nil (2024: £89,029) owed to family members of the directors. During the year the company issued shares in settlement of this loan, further details of which are disclosed within note 8.

Included within Other creditors is an aggregate balance of £NIL (2024: £102,064) owed to the directors.

No interest has been charged on any balances with related parties. All balances are repayable on demand. There are no other conditions attached.

11. General Information

MildTech UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14518989 . The registered office is Unit 6b Ni Park, Newport, Telford, TF10 9LH.

The financial statements are presented in pound sterling (£) and rounded to the nearest whole £.

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		30 June 2026		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		80,535		222,458

			80,535		222,458
CURRENT ASSETS
Stocks	4	110,265		-
Debtors	5	7,661		145,383
Cash at bank and in hand		238,502		3,660

		356,428		149,043
Creditors: Amounts Falling Due Within One Year	6	(105,206 )		(370,685 )

NET CURRENT ASSETS (LIABILITIES)			251,222		(221,642 )

TOTAL ASSETS LESS CURRENT LIABILITIES			331,757		816

Creditors: Amounts Falling Due After More Than One Year	7		(10,799 )		(36,298 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(42,257 )

NET ASSETS/(LIABILITIES)			320,958		(77,739 )

CAPITAL AND RESERVES
Called up share capital	8		4		3
Share premium account			373,027		-
Other reserves			86,351		-
Profit and Loss Account			(138,424 )		(77,742 )

SHAREHOLDERS' FUNDS			320,958		(77,739)