Company No: SC831066 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2026
		£
Fixed assets
Intangible assets	3	24,416
Tangible assets	4	88,948
		113,364
Current assets
Debtors	5	279,901
Cash at bank and in hand		165,896
		445,797
Creditors: amounts falling due within one year	6	( 521,289)
Net current liabilities		(75,492)
Total assets less current liabilities		37,872
Creditors: amounts falling due after more than one year	7	( 353,627)
Net liabilities		( 315,755)
Capital and reserves
Called-up share capital	8	0
Profit and loss account		( 315,755 )
Total shareholder's deficit		( 315,755)

For the financial period 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 member has not required the Company to obtain an audit of its financial statements for the financial period 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 Profit and Loss Account has not been delivered.

The financial statements of STAC & Beyond Ltd (registered number: SC831066) were approved and authorised for issue by the Board of Directors on 23 October 2026. They were signed on its behalf by:

A J Macfadyen Director

1. Accounting policies

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

General information and basis of accounting

STAC & Beyond Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Thebeyond Level 1 Skypark 1, 8 Elliot Place, Glasgow, G3 8EP, 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 financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the directors have considered the company’s cash-flow forecasts, expected programme and sponsorship income, workspace occupancy and the terms of the funding provided through STAC Holdings Ltd.

Based on these forecasts and the funding arrangements available to the company, the directors have a reasonable expectation that the company has adequate resources to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the directors continue to adopt the going concern basis.

Reporting period length

These financial statements cover the period from 5 December 2024 to 31 March 2026.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable from the delivery of accelerator and business support programmes, corporate sponsorship arrangements, the provision of workspace and related services, and other services provided in the ordinary course of the company’s activities. Turnover is stated net of value added tax.

Income from accelerator and business support programmes is recognised over the period in which the related services are provided. Where the company’s obligations are performed evenly over the programme period, income is recognised on a straight-line basis. Where delivery is not even, income is recognised by reference to the services performed at the reporting date.

Corporate sponsorship income is recognised over the term of the sponsorship agreement, reflecting the period over which the associated sponsorship benefits are provided.

Workspace and desk rental income is recognised on a straight-line basis over the period to which the provision of the workspace relates.

Amounts invoiced or received in advance of the relevant services being provided are included within deferred income. Amounts earned but not invoiced at the reporting date are recognised as accrued income.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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:

Other intangible assets

10 years straight line

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 on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Office equipment	5 years straight line
Computer equipment	5 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Grants relating to revenue expenditure are recognised within other operating income over the periods in which the related costs are recognised. Grants relating to fixed assets are recognised over the expected useful lives of the relevant assets on a systematic basis.

Amounts received or receivable before the relevant recognition conditions have been satisfied are included within creditors as deferred income. A liability is recognised where funding has become repayable due to the conditions attaching to it not being met.

2. Employees

	Period from 05.12.2024 to 31.03.2026
	Number
Monthly average number of persons employed by the Company during the period, including directors	9

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 05 December 2024	0		0
Additions	27,054		27,054
At 31 March 2026	27,054		27,054
Accumulated amortisation
At 05 December 2024	0		0
Charge for the financial period	2,638		2,638
At 31 March 2026	2,638		2,638
Net book value
At 31 March 2026	24,416		24,416

4. Tangible assets

	Leasehold improve- ments		Office equipment		Computer equipment		Total
	£		£		£		£
Cost
At 05 December 2024	0		0		0		0
Additions	15,659		61,633		41,678		118,970
Disposals	( 9,149)		0		0		( 9,149)
At 31 March 2026	6,510		61,633		41,678		109,821
Accumulated depreciation
At 05 December 2024	0		0		0		0
Charge for the financial period	747		11,364		8,934		21,045
Disposals	( 172)		0		0		( 172)
At 31 March 2026	575		11,364		8,934		20,873
Net book value
At 31 March 2026	5,935		50,269		32,744		88,948

5. Debtors

	31.03.2026
	£
Trade debtors	134,997
Amounts owed by related parties	38,032
Other debtors	106,872
	279,901

6. Creditors: amounts falling due within one year

	31.03.2026
	£
Trade creditors	56,902
Amounts owed to Group undertakings	16,905
Other taxation and social security	11,235
Other creditors	436,247
	521,289

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

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

	31.03.2026
	£
Amounts owed to Group undertakings	287,500
Other creditors	66,127
	353,627

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

8. Called-up share capital

	31.03.2026
	£
Allotted, called-up and fully-paid
1 Ordinary share of £ 0.01	0.01

9. Financial commitments

Commitments

Capital commitments are as follows:

	31.03.2026
	£
Contracted for but not provided for:
Finance leases entered into	1,023,358

10. Related party transactions

Other related party transactions

	31.03.2026
	£
During the period, the company generated income from services supplied to the company under the common control. Transactions took place at arm's length.	75,180
At 31 March 2026, the company owed balances due to the parent company STAC Holdings Ltd.	304,405
On 31 May 2025 the company acquired assets and liabilities of Filament Smart Things Accelerator Centre Limited, the company under common control. At 31 March 2026 there was a balance due from the company.	(38,032)

11. Security

Guarantees and contingent liabilities

The company has granted a cross-company guarantee in favour of Scottish Enterprise in respect of a £300,000 loan facility provided to STAC Holdings Ltd. The company has also granted a bond and floating charge over its property and undertaking as security for the obligations under the facility.

At 31 March 2026, the amount outstanding under the facility was £300,000. No liability has been recognised in respect of the guarantee as the directors consider that it is not probable that the company will be required to make payment under it.

12. Ultimate controlling party

Parent Company:

STAC Holdings Ltd

Thebeyond Level 1 Skypark 1, 8 Elliot Place, Glasgow, United Kingdom, G3 8EP