Company Registration No. 11495990 (England and Wales)
APPLICA.AI LTD
Unaudited accounts
for the year ended 31 December 2021
APPLICA.AI LTD
Unaudited accounts
Contents
APPLICA.AI LTD
Company Information
for the year ended 31 December 2021
Directors
Adam Dancewicz
Martin Jasinski
Piotr Surma
Company Number
11495990 (England and Wales)
Registered Office
Niddry Lodge
51 Holland Street
London
W8 7JB
Accountants
Salvares JBS Ltd
Niddry Lodge
51 Holland Street
London
London
W8 7JB
APPLICA.AI LTD
Statement of financial position
as at 31 December 2021
Investments
3,789,445
2,067,239
Cash at bank and in hand
444,864
804,270
Creditors: amounts falling due within one year
(1,328)
(1,410)
Net current assets
448,833
804,566
Total assets less current liabilities
4,238,278
2,871,805
Creditors: amounts falling due after more than one year
(1,375,110)
-
Net assets
2,863,168
2,871,805
Called up share capital
299
299
Share premium
3,010,573
3,010,573
Profit and loss account
(147,704)
(139,067)
Shareholders' funds
2,863,168
2,871,805
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by
Piotr Surma
Director
Company Registration No. 11495990
APPLICA.AI LTD
Notes to the Accounts
for the year ended 31 December 2021
APPLICA.AI LTD is a private company, limited by shares, registered in England and Wales, registration number 11495990. The registered office is Niddry Lodge, 51 Holland Street, London, W8 7JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities and the Companies Act 2006.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in subsidiaries are measured at cost less impairment.
Investments in shares are included at fair value.
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in the fair value are included in the profit and loss account.
APPLICA.AI Ltd is a parent company of:
- Applica sp. z o.o., a company registered in Poland. APPLICA.AI LTD holds 100% shares in equity of Applica Sp. z o.o. as of 31st December 2021 and
- Applica.ai, Inc., a company formed on 2nd January, 2020 and registered in the state of Delaware, USA. APPLICA.AI LTD holds 100% shares in equity of Applica.ai, Inc. as of 31st December 2021
Together they form a small group of companies as of 31st December 2021.
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Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 January 2021
1,028,592
1,038,647
2,067,239
Additions
-
1,722,206
1,722,206
Valuation at 31 December 2021
1,028,592
2,760,853
3,789,445
APPLICA.AI LTD
Notes to the Accounts
for the year ended 31 December 2021
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
5,285
1,694
6
Creditors: amounts falling due within one year
2021
2020
Amounts owed to group undertakings and other participating interests
1,328
1,410
7
Creditors: amounts falling due after more than one year
2021
2020
Other creditors
1,375,110
-
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Transactions with related parties
APPLICA.AI LTD is the parent and the ultimate controlling party to two subsidiaries: Applica sp. z o.o., a Polish company and Applica.ai, Inc, an American company.
As at 31/12/2021:
- the value of investment in shares of Applica sp. z o.o. was 1,028,592.31 GBP
- the value of investment in shares Applica.ai, Inc was 0.75 GBP
- the value of loans to Applica sp. z o.o. and interest accrued was 601047.50 GBP
- the value of loans to Applica.ai, Inc and interest accrued was 2,159,804.28 GBP
9
Average number of employees
During the year the average number of employees was 0 (2020: 0).