4GD Limited

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

1. General Information

4GD Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10265296 . The registered office is 2 Hedley Court, Putney Hill, London, SW15 3NS.

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 financial statements have been prepared on a going concern basis as the directors believe adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

• the Company has transferred the significant risks and rewards of ownership to the buyer;

• the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the transaction; and

• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the contract;

• the stage of completion of the contract at the end of the reporting period can be measured reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to on a straight line basis over their expected useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure - 5 years

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

• It is technically feasible to complete the intangible asset so that it will be available for use or sale.

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

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 lives on the following bases:

Plant & Machinery	25% reducing balance
Computer Equipment	25% reducing balance

2.7. 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.

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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2025: 5)

4. Intangible Assets

	Patents	Development Costs	Trademarks	Total
	£	£	£	£
Cost
As at 1 April 2025	128,380	1,570,454	2,592	1,701,426
Additions	14,853	375,303	-	390,156

As at 31 March 2026	143,233	1,945,757	2,592	2,091,582

Amortisation
As at 1 April 2025	15,915	763,148	1,847	780,910
Provided during the period	8,347	389,151	518	398,016

As at 31 March 2026	24,262	1,152,299	2,365	1,178,926

...CONTINUED

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Net Book Value
As at 31 March 2026	118,971	793,458	227	912,656

As at 1 April 2025	112,465	807,306	745	920,516

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2025	29,785	42,008	71,793
Additions	4,336	-	4,336
Disposals	(15,099 )	(20,251 )	(35,350 )

As at 31 March 2026	19,022	21,757	40,779

Depreciation
As at 1 April 2025	20,957	30,072	51,029
Provided during the period	3,266	2,813	6,079
Disposals	(12,065 )	(16,653 )	(28,718 )

As at 31 March 2026	12,158	16,232	28,390

Net Book Value
As at 31 March 2026	6,864	5,525	12,389

As at 1 April 2025	8,828	11,936	20,764

6. Stocks

	2026	2025
	£	£
Stock	520,912	860,690

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	4,320	1,220,510
Other debtors	141,923	119,169

	146,243	1,339,679

Included in Other Debtors is the claim for RDEC for 2026 of £60,865 (post tax).

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	959,554	436,802
Bank loans and overdrafts	7,501	11,251
Other loans	1,965,825	1,593,604
Other creditors	1,032,938	2,683,867
Taxation and social security	9,195	168,750

	3,975,013	4,894,274

Bank loans and overdrafts includes a Government Bounce Back Loan of £7,501 borrowed in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum. It will finish in 2026/2027

Other loans includes 3 US denominated loans of $2.6m. One is a loan of $1m borrowed from Mountain Horse Inc. in July 2022. This loan has been re-extended and interest is fixed at 10% per annum. There is a similar loan with Kempa for $1.6m which has also had its repayment extended.

Deferred income is included in other creditors. As at 31 March 2026 this was £1,090,884 (2024: £2,559,572)

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

	2026	2025
	£	£
Bank loans	-	7,501

The company borrowed £50,000 as part of the Government’s Bounce Back Loan (BBL) scheme in May 2020. This loan is for a term of 6 years and interest is fixed at 2.5% per annum. This will be repaid in 26/27.

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	1,942	1,942

11. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	12,780	12,780

25,559 (2022 - 25,559) Ordinary shares of £0.50 each

12. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and 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 in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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4GD Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

13. Related Party Transactions

There is a director loan account with Robert Taylor where the business owes £220.55 (2025 £220.55)

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		912,656		920,516
Tangible Assets	5		12,389		20,764

			925,045		941,280
CURRENT ASSETS
Stocks	6	520,912		860,690
Debtors	7	146,243		1,339,679
Cash at bank and in hand		66,641		484,669

		733,796		2,685,038
Creditors: Amounts Falling Due Within One Year	8	(3,975,013 )		(4,894,274 )

NET CURRENT ASSETS (LIABILITIES)			(3,241,217 )		(2,209,236 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,316,172 )		(1,267,956 )

Creditors: Amounts Falling Due After More Than One Year	9		-		(7,501 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(1,942 )		(1,942 )

NET LIABILITIES			(2,318,114 )		(1,277,399 )

CAPITAL AND RESERVES
Called up share capital	11		12,780		12,780
Share premium account			657,898		657,898
Profit and Loss Account			(2,988,792 )		(1,948,077 )

SHAREHOLDERS' FUNDS			(2,318,114)		(1,277,399)