Axiom Inspection Solutions Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC622095 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2026

for

AXIOM INSPECTION SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

11

DIRECTORS:

Mr M Donnelly

Ms L Docherty

REGISTERED OFFICE:

Paxton House

11 Woodside Crescent

Charing Cross

Glasgow

G3 7UL

REGISTERED NUMBER:

SC622095 (Scotland)

ACCOUNTANTS:

McAllisters

Paxton House

11 Woodside Crescent

Charing Cross

Glasgow

G3 7UL

FIXED ASSETS

Tangible assets

4

94,341

85,056

Investments

5

87,947

173,951

182,288

259,007

CURRENT ASSETS

Stocks

6

-

2,516

Debtors

7

177,514

156,652

Cash at bank and in hand

669

21,002

178,183

180,170

CREDITORS

Amounts falling due within one year

8

138,031

153,680

NET CURRENT ASSETS

40,152

26,490

TOTAL ASSETS LESS CURRENT
LIABILITIES

222,440

285,497

CREDITORS

Amounts falling due after more than one
year

9

(26,746

)

(3,307

)

PROVISIONS FOR LIABILITIES

(18,523

)

(13,888

)

NET ASSETS

177,171

268,302

CAPITAL AND RESERVES

Called up share capital

11

10

Other reserves

12

3,544

58,504

Retained earnings

12

173,617

209,788

SHAREHOLDERS' FUNDS

177,171

268,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2026 and were signed on its behalf by:

Mr M Donnelly - Director

1.	STATUTORY INFORMATION

Axiom Inspection Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the rendering of testing services and sales of ultrasonic equipment.

Rendering of services.

Turnover from the rendering of services is recognised by reference to the completion of a contract between Axiom Inspection Solutions Limited and it's customer. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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 to profit and loss over the estimated useful economic lives, as follows:

Plant and Machinery - 33% or 25% reducing balance dependent on age of asset

Motor vehicles - 33% or 25% reducing balance dependent on age of asset

Computer equipment - 33% straight line

Leasehold property - 10% straight line

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.

At each reporting date the company assesses whether there is any indication of impairment. if such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within profit and loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Fixed asset investments

Fixed asset investments represent investments in crypto currency assets. They are valued in the financial statements at fair value with movements in fair value being recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2025 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

property

machinery

fittings

£

COST

At 1 March 2025

29,663

44,415

1,863

Additions

-

At 28 February 2026

29,663

44,415

1,863

DEPRECIATION

At 1 March 2025

5,933

37,399

842

Charge for year

2,966

1,754

255

At 28 February 2026

8,899

39,153

1,097

NET BOOK VALUE

At 28 February 2026

20,764

5,262

766

At 28 February 2025

23,730

7,016

1,021

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 March 2025

126,402

30,505

232,848

Additions

35,680

3,816

39,496

At 28 February 2026

162,082

34,321

272,344

DEPRECIATION

At 1 March 2025

77,652

25,966

147,792

Charge for year

21,107

4,129

30,211

At 28 February 2026

98,759

30,095

178,003

NET BOOK VALUE

At 28 February 2026

63,323

4,226

94,341

At 28 February 2025

48,750

4,539

85,056

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

35,680

At 28 February 2026

35,680

DEPRECIATION

Charge for year

8,920

At 28 February 2026

8,920

NET BOOK VALUE

At 28 February 2026

26,760

5.	FIXED ASSET INVESTMENTS

Fixed asset investments represent investments in crypto currency assets. They are valued in the financial statements at fair value with movements in fair value being recognised in the income statement.

6.

STOCKS

28.2.26

28.2.25

£

Work-in-progress

-

2,516

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

Trade debtors

135,995

89,776

S455 tax recoverable

15,924

Other debtors

9,900

-

Directors' current accounts

7,685

47,181

Prepayments

8,010

3,771

177,514

156,652

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

Bank loans and overdrafts (see note 10)

8,852

10,648

Hire purchase contracts

8,915

-

Trade creditors

21,118

12,287

Tax

62,560

91,775

Social security and other taxes

-

5,985

VAT

36,586

32,985

138,031

153,680

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.26

28.2.25

£

Bank loans (see note 10)

-

3,307

Hire purchase contracts

26,746

-

26,746

3,307

10.

LOANS

An analysis of the maturity of loans is given below:

28.2.26

28.2.25

£

Amounts falling due within one year or on demand:

Bank overdrafts

5,316

-

Bank loans

3,536

10,648

8,852

10,648

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

3,307

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

28.2.25

value:

£

900

Ordinary A

0.01

9

100

Ordinary B

0.01

1

10

12.

RESERVES

Retained

Other

earnings

reserves

Totals

£

At 1 March 2025

209,788

58,504

268,292

Profit for the year

68,869

Dividends

(160,000

)

(160,000

)

Revaluation

54,960

(54,960

)

-

At 28 February 2026

173,617

3,544

177,161

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

28.2.26

28.2.25

£

Mr M Donnelly

Balance outstanding at start of year

23,590

(410

)

Amounts advanced

76,503

133,881

Amounts repaid

(93,000

)

(109,881

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

7,093

23,590

Ms L Docherty

Balance outstanding at start of year

23,591

(9

)

Amounts advanced

57,000

99,109

Amounts repaid

(80,000

)

(75,509

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

591

23,591

14.	RELATED PARTY DISCLOSURES

Directors remuneration including pensions totalled £37,980 (2025 £49,420) in the year.

Dividends of £160,000 (2025: £151,000) were paid to the directors in the year.

15.	ULTIMATE CONTROLLING PARTY

Michael Donnelly is a director and majority shareholder in Axiom Inspection Solutions Limited, he is therefore considered to be the ultimate controlling party.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Axiom Inspection Solutions Ltd for the year ended 28 February 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Axiom Inspection Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Axiom Inspection Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Axiom Inspection Solutions Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Axiom Inspection Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Axiom Inspection Solutions Ltd. You consider that Axiom Inspection Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Axiom Inspection Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

McAllisters

Paxton House

11 Woodside Crescent

Charing Cross

Glasgow

G3 7UL

21 September 2026