REGISTERED NUMBER: 12498382 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Obelix Systems Limited

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M V Usen

REGISTERED OFFICE:

Unit 20 Orchard Industrial Estate

Toddington

Cheltenham

Gloucestershire

GL54 5EB

REGISTERED NUMBER:

12498382 (England and Wales)

ACCOUNTANTS:

ADM Accountancy Services Ltd

Homelands Commercial Centre

Vale Road

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 8PX

The director presents his report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing security solutions for the cash and high value items industry.

REVIEW OF BUSINESS

Overview of Performance and Review of the Year

The business maintained its commercial position with continued momentum in its order book and a healthy mix of work across customer segments and product type.

In line with strategic plans, turnover was lower than the previous year, down £494k from 31st March 2025 to £4.4m, reflecting the changes in market. Despite the lower turnover, strict cost controls and drives in operational efficiency resulted in a pre-tax profit of £284k and improvement in gross margin from 39% to 45%.

To support the evolution of product lines, competitiveness and obsolescence risk, the company continued to progress a range of product developments.

Obelix Systems Limited maintained its resource during the year with full-time staff at 39, the same as the previous year. The company's flexible operational model allows staffing capacity to adjust in line with demand.

To protect the order book fulfilment against supply chain challenges the company continued the strategic advance purchasing of materials, and as a result, stock and Work in Progress remained at a relatively high level.

Looking Forward

The order book at the end of the financial year remains strong and enables the continued efforts in forward planning and strategy development.

Obelix Systems Limited remains committed to maintaining a lean business model, utilising new technology to find process and efficiency improvements, and strengthen the product and service offering to our customers.

DIRECTOR

M V Usen held office during the whole of the period from 1 April 2025 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M V Usen - Director

30 September 2026

FIXED ASSETS

Intangible assets

4

9,000

11,250

Tangible assets

5

13,191

2,386

22,191

13,636

CURRENT ASSETS

Stocks

1,584,113

1,147,750

Debtors

6

140,952

189,183

Prepayments and accrued income

13,492

16,815

Cash at bank

1,575,398

146,281

3,313,955

1,500,029

CREDITORS

Amounts falling due within one year

7

2,886,175

1,258,188

NET CURRENT ASSETS

427,780

241,841

TOTAL ASSETS LESS CURRENT LIABILITIES

449,971

255,477

PROVISIONS FOR LIABILITIES

3,298

-

NET ASSETS

446,673

255,477

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

446,672

255,476

446,673

255,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2026 and were signed by:

M V Usen - Director

1.	STATUTORY INFORMATION

Obelix Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Stocks

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 items.

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.

Taxation

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2025 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

22,500

AMORTISATION

At 1 April 2025

11,250

Charge for year

2,250

At 31 March 2026

13,500

NET BOOK VALUE

At 31 March 2026

9,000

At 31 March 2025

11,250

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

59,600

Additions

14,391

At 31 March 2026

73,991

DEPRECIATION

At 1 April 2025

57,214

Charge for year

3,586

At 31 March 2026

60,800

NET BOOK VALUE

At 31 March 2026

13,191

At 31 March 2025

2,386

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

49,812

66,675

Other debtors

91,140

122,508

140,952

189,183

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

414,695

464,909

Taxation and social security

448,844

89,521

Other creditors

2,022,636

703,758

2,886,175

1,258,188

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

M V Usen

Balance outstanding at start of year

(451

)

(139

)

Amounts repaid

(21,312

)

(312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(21,763

)

(451

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M V Usen.