Registration number: SC255743

Lithium Systems Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8
Accountants' Report	9

Lithium Systems Limited

Company Information

Directors

Mr George Findlay Aitkenhead Mrs Karen June Franklyn Mrs Gayle Aitkenhead Mr Stephen Franklyn

Company secretary

Mr Stephen Franklyn

Registered office

Unit 3-5 Carsebridge Court Alloa Clacks FK10 3LQ

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Lithium Systems Limited

(Registration number: SC255743)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	20,479	39,759
Current assets
Stocks	5	8,755	12,901
Debtors	6	193,084	164,252
Cash at bank and in hand		151,637	146,197
		353,476	323,350
Creditors: Amounts falling due within one year	10	(298,085)	(241,876)
Net current assets		55,391	81,474
Total assets less current liabilities		75,870	121,233
Creditors: Amounts falling due after more than one year	10	(10,915)	(18,451)
Provisions for liabilities		(4,505)	(8,747)
Net assets		60,450	94,035
Capital and reserves
Called up share capital		150	150
Retained earnings		60,300	93,885
Shareholders' funds		60,450	94,035

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 August 2026 and signed on its behalf by:
 

......................................... Mr Stephen Franklyn Company secretary and director

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	Reducing balance at 15%
Motor vehicles	Reducing balance at 25%
Computer equipment	Straight line at 50%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 17 (2025 - 17).

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	13,429	52,847	136,252	202,528
Additions	-	741	-	741
Disposals	(4,634)	-	(40,080)	(44,714)
At 31 March 2026	8,795	53,588	96,172	158,555
Depreciation
At 1 April 2025	10,664	50,424	101,681	162,769
Charge for the year	866	2,794	5,777	9,437
Eliminated on disposal	(4,070)	-	(30,060)	(34,130)
At 31 March 2026	7,460	53,218	77,398	138,076
Carrying amount
At 31 March 2026	1,335	370	18,774	20,479
At 31 March 2025	2,765	2,423	34,571	39,759

5

Stocks

	2026 £	2025 £
Other inventories	8,755	12,901

6

Debtors

Current	2026 £	2025 £
Trade debtors	88,967	58,196
Prepayments	8,918	9,694
Other debtors	95,199	96,362
	193,084	164,252

7	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Hire purchase contracts	10,915	18,451

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Current loans and borrowings

	2026 £	2025 £
Hire purchase contracts	4,413	4,331

8	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

	2026  £	2025  £
	-	-

9	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	2026  £	2025  £
Mr Stephen Franklyn	1,639	4,030
Mr George Findlay Aitkenhead	74	2,457
	1,713	6,487

The maximum balance outstanding during the year amounted to £6,487.

The directors current accounts are repayable on demand.

Included within other debtors is an amount owed from a related company, Cyberlock Limited, totalling £95,199 (2025: £96,362), in which Stephen Franklyn and George F Aitkenhead were also directors.

Lithium Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

10

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	4,413	4,331
Trade creditors		108,634	52,213
Taxation and social security		106,781	112,559
Other creditors		78,257	72,773
		298,085	241,876

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	7	10,915	18,451

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lithium Systems Limited
for the Year Ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lithium Systems Limited for the year ended 31 March 2026 as set out on pages 2 to 8 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 http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Lithium Systems Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lithium Systems Limited and state those matters that we have agreed to state to the Board of Directors of Lithium Systems Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lithium Systems Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lithium Systems Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lithium Systems Limited. You consider that Lithium Systems Limited 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 accounts of Lithium Systems Limited. 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

6 August 2026