Plantwork Systems Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Plantwork Systems Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07271196 . The registered office is 10 Cross & Pillory Lane, Alton, Hampshire, GU34 1HL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company has had contracted revenues in place since early 2026, with further revenues contracted in Q3 of 2026. Alongside, the company continues to seek further investment to support working capital and development needs. Meanwhile, to company continues to enjoy the support of its creditors and loan providers and as such the directors have prepared these accounts on a going concern basis, content that this support will continue alongside the increasing visibility of contracted revenues.

2.3. 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 rendering of services for design and construction work and is recognised based on the stage of completion of the work.Turnover relating to client sales retention is not recognised until such time as the client confirms acceptance and release of such retention.

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.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

The other intangible asset is research and development costs which are being amortised over their estimated useful economic life of 10 years.

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

The intangible asset is being amortised over a period of 5 years based on the estimated time to generate sales and for the project to be completed.

2.6. 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 economic lives on the following bases:

Plant & Machinery	10% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	10% on cost
Computer Equipment	25% on cost

Depreciation is charged in the year of purchase but not in the year of disposal.

2.7. 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.

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Plantwork Systems Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.8. 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.

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.

2.9. Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial, and financial feasibility can be demonstrated.

2.10. Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: Recognition of revenue and profit is based on judgements on the stage of completion of the contract. Such judgements are arrived at through the use of estimates in relation to costs and the value of work performed in bringing contracts to completion, including satisfaction of any maintenance responsibilties.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	31 December 2025	31 December 2024
Office and administration	2	2
Sales, marketing and distribution	4	4

	6	6

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Plantwork Systems Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Intangible Assets

	Other	Intellectual Property	Total
	£	£	£
Cost
As at 1 January 2025	634,739	30,000	664,739
Additions	239,608	-	239,608

As at 31 December 2025	874,347	30,000	904,347

Amortisation
As at 1 January 2025	195,647	18,500	214,147
Provided during the period	82,434	6,000	88,434

As at 31 December 2025	278,081	24,500	302,581

Net Book Value
As at 31 December 2025	596,266	5,500	601,766

As at 1 January 2025	439,092	11,500	450,592

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	331,215	1,765	2,398	335,378

As at 31 December 2025	331,215	1,765	2,398	335,378

Depreciation
As at 1 January 2025	331,214	1,765	1,543	334,522
Provided during the period	-	-	600	600

As at 31 December 2025	331,214	1,765	2,143	335,122

Net Book Value
As at 31 December 2025	1	-	255	256

As at 1 January 2025	1	-	855	856

6. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	-	20,610
Prepayments and accrued income	600	10,163
Other debtors	12,500	17,500

	13,100	48,273

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Plantwork Systems Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	541,229	507,591
Bank loans and overdrafts	46,929	49,099
Other taxes and social security	117,219	80,328
VAT	826	6,479
Other creditors	3,318	5,371
Investor loans repayable on demand	141,587	131,923
Corporate loans repayable in less than one year	307,637	13,383
Accruals and deferred income	703,656	477,826
Directors' loan accounts	881,845	707,031
Amounts owed to associates	155,173	72,232

	2,899,419	2,051,263

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

	31 December 2025	31 December 2024
	£	£
Corporate loans repayable in more than 1 year	69,953	426,869

Secured Creditors

Mr John De Moraes has provided a personal guarantee of £200,000 in connection with two loans to the company from Funding South East, £100,000 in respect of one loan fromr Funding Circle and £50,000 to HSBC in respet of the company's overdraft facility.

9. Share Capital

	31 December 2025	31 December 2024
Allotted, called up and fully paid	£	£
328,458 Ordinary Shares of £ 0.001 each	328	328

10. Related Party Transactions

Directors Loan

Included in creditors is a loan made to the company by one of the directors. The loan of £881,845 (2024- £706,972 is repayable on demand and attracts interest at the annual rate of 7.5%. The movement in the loans in the year resulted from interest accrued of £58,573 and new advances of £116,300

Dal Sterling Ltd

The company has a service agreement with the above company for the provision of management, marketing, IT, office administration, human resource management, and general office support. The value of support contracted for in the year was £494,647. (2024 - £304,565). The value of other consultancy and recharges outside of the service agreement was £185,499 (2024 - £142,761).

A further loan of £82,940 was made in the year. At the year end the company was owed £155,172 (2024-£72,232)

The total amount due to Dal Sterling Ltd at the year end was £1,249,962 (2024-£934,202)

...CONTINUED

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Plantwork Systems Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Related Party Transactions - continued

Dal Sterling Ltd and Plantwork Systems Ltd have a director in common.

Moby Limited

The company is a personal service company for one of the non-executive directors to provide managerial and financial support services. The value of services provided during the year was £Nil (2024- £11,500).

The balance outstanding at the year end was £9,000. (2024 - £14,000).

11. Ultimate Controlling Party

The company's ultimate controlling party is John De Moraes.

12. Audit Information

The auditor's report on the accounts of Plantwork Systems Ltd for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Statutory Auditor.

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		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		601,766		450,592
Tangible Assets	5		256		856

			602,022		451,448
CURRENT ASSETS
Debtors	6	13,100		48,273
Cash at bank and in hand		4		4

		13,104		48,277
Creditors: Amounts Falling Due Within One Year	7	(2,899,419 )		(2,051,263 )

NET CURRENT ASSETS (LIABILITIES)			(2,886,315 )		(2,002,986 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,284,293 )		(1,551,538 )

Creditors: Amounts Falling Due After More Than One Year	8		(69,953 )		(426,869 )

NET LIABILITIES			(2,354,246 )		(1,978,407 )

CAPITAL AND RESERVES
Called up share capital	9		328		328
Share premium account			3,484,400		3,484,400
Profit and Loss Account			(5,838,974 )		(5,463,135 )

SHAREHOLDERS' FUNDS			(2,354,246)		(1,978,407)