Company No: 12431696 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	3,813		5,974
Tangible assets	4	5,908		26,723
		9,721		32,697
Current assets
Stocks		500		500
Cash at bank and in hand		18,995		14,855
		19,495		15,355
Creditors: amounts falling due within one year	5	( 11,074)		( 3,836)
Net current assets		8,421		11,519
Total assets less current liabilities		18,142		44,216
Creditors: amounts falling due after more than one year	6	0		( 26,250)
Provision for liabilities		( 2,430)		( 6,977)
Net assets		15,712		10,989
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		15,612		10,889
Total shareholders' funds		15,712		10,989

For the financial year ending 31 January 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Program 10 Limited (registered number: 12431696) were approved and authorised for issue by the Board of Directors on 29 October 2026. They were signed on its behalf by:

Mr P Styring Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Program 10 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3 River Court, Saltash, PL12 6LD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 value added tax. The company recognises revenue based on it's value of the services provided to date.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	5 years straight line
Website costs	4 years straight line
Other intangible assets	5 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.

Other intangible assets

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Goodwill		Website costs		Other intangible assets		Total
	£		£		£		£
Cost
At 01 February 2025	12,000		1,463		10,830		24,293
At 31 January 2026	12,000		1,463		10,830		24,293
Accumulated amortisation
At 01 February 2025	12,000		1,463		4,856		18,319
Charge for the financial year	0		0		2,161		2,161
At 31 January 2026	12,000		1,463		7,017		20,480
Net book value
At 31 January 2026	0		0		3,813		3,813
At 31 January 2025	0		0		5,974		5,974

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 February 2025	8,993		39,682		8,778		57,453
Additions	1,760		0		0		1,760
Disposals	0		( 39,682)		0		( 39,682)
At 31 January 2026	10,753		0		8,778		19,531
Accumulated depreciation
At 01 February 2025	4,837		19,029		6,864		30,730
Charge for the financial year	920		0		1,002		1,922
Disposals	0		( 19,029)		0		( 19,029)
At 31 January 2026	5,757		0		7,866		13,623
Net book value
At 31 January 2026	4,996		0		912		5,908
At 31 January 2025	4,156		20,653		1,914		26,723

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	1,444		3,000
Amounts owed to directors	4,061		797
Corporation tax	5,569		0
Other taxation and social security	0		39
	11,074		3,836

6. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	0		1,250
Amounts owed to directors	0		25,000
	0		26,250

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
51 Ordinary A shares of £ 1.00 each	51		51
44 Ordinary B shares of £ 1.00 each	44		44
5 Ordinary C shares of £ 1.00 each	5		5
	100		100