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REGISTERED NUMBER: 06868886 (England and Wales)















ALLIANTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023






ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


ALLIANTS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023







DIRECTORS: N Daniels
T Gadsby
B P Barclay





REGISTERED OFFICE: Fryern House
125 Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2DR





REGISTERED NUMBER: 06868886 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ALLIANTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alliants Limited for the period ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Alliants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alliants Limited and state those matters that we have agreed to state to the Board of Directors of Alliants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alliants Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alliants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alliants Limited. You consider that Alliants Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Alliants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


5 October 2023

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

BALANCE SHEET
31 MARCH 2023

2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,455,482 484,243
Tangible assets 5 50,309 32,928
Investments 6 531 531
1,506,322 517,702

CURRENT ASSETS
Debtors 7 2,326,146 2,120,110
Cash at bank 852,294 1,286,791
3,178,440 3,406,901
CREDITORS
Amounts falling due within one year 8 1,669,620 1,346,073
NET CURRENT ASSETS 1,508,820 2,060,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,015,142

2,578,530

CREDITORS
Amounts falling due after more than one
year

9

(44,407

)

(91,224

)

PROVISIONS FOR LIABILITIES (142,540 ) -
NET ASSETS 2,828,195 2,487,306

CAPITAL AND RESERVES
Called up share capital 11 1,101 1,101
Share premium 12 3,210,055 3,210,055
Capital redemption reserve 12 120 120
Share option reserve 12 48,631 -
Retained earnings 12 (431,712 ) (723,970 )
SHAREHOLDERS' FUNDS 2,828,195 2,487,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





N Daniels - Director


ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

Alliants Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06868886 and registered office address is Fryern House, 125 Winchester Road, Chandlers Ford, Hampshire, SO53 2DR.

2. ACCOUNTING POLICIES

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

The presentation currency is £ Sterling.

Going concern
The company is considered to be a going concern by the directors and the accounts have therefore been prepared on the going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Alliants Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Frequency of reporting
The company year end was extended from 28 February 2023 to 31 March 2023. The comparative information presented in the accounts (including the related notes) may not be comparable.

Turnover
Turnover represents net amounts invoiced during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. Turnover is recognised on provision of consultancy services, software development, maintenance support contracts and the Alliants Experience software platform.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less and accumulated amortisation and any accumulated impairment losses.

Development costs are capitalised when the research phase ends and the development phase begins.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 20% - 33% straight line
Furniture and equipment - 20 - 25% straight line
Computer equipment - 33% - 50% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Income and Retained Earnings.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the period comprises current and deferred tax. Current tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research is written off in the year in which it is incurred. Expenditure on development of software is capitalised once the following has been demonstrated:

-The technical feasibility of completing the intangible asset so that it will be available for use or sale;
-The intention to complete the intangible asset and use or sell it;
-The ability to use or sell the intangible asset;
-How the intangible asset will generate probable future economic benefits;
-The availability of adequate technical, financial and other resources to complete the development and to
use or sell the intangible asset; and
-The ability to measure reliably the expenditure attributable to the intangible asset during its development.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Statement of Income and Retained Earnings in the period to which they relate.

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Share-based payments
The company operates a share-based employee compensation arrangement. The cost of share-based employee compensation arrangements, whereby employees receive remuneration in the form of share options, are recognised as an employee benefit expense in the Statement of Income and Retained Earnings in the year to which the award relates.

The cost of the incentive scheme is based on the fair value awards on the date of grant. The total expense to be apportioned over the vesting period of the benefit is determined by reference to the fair value (excluding the effect of non-market-based vesting conditions) at the date of grant. The assumptions underlying the number of awards expected to vest are subsequently adjusted for the effects of non-market-based vesting to reflect the conditions prevailing at the balance sheet date. Fair value is measured using the Black Scholes model.

The total expense is charged to the Statement of Income and Retained Earnings with the associated credit taken to a share option reserve in equity. At the end of the vesting period, upon lapse or forfeit if earlier, this credit is transferred to retained earnings from the share option reserve.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Grants
Grants of a revenue nature are credited to the Income Statement in the period to which they relate in accordance with the terms of the grant. Any accrued or deferred elements of the grant is included in debtors or creditors as applicable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 58 (2022 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£
COST
At 1 March 2022 558,934
Additions 1,304,521
At 31 March 2023 1,863,455
AMORTISATION
At 1 March 2022 74,691
Amortisation for period 333,282
At 31 March 2023 407,973
NET BOOK VALUE
At 31 March 2023 1,455,482
At 28 February 2022 484,243

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Furniture
Improvements and Computer
to property equipment equipment Totals
£ £ £ £
COST
At 1 March 2022 43,768 42,081 164,333 250,182
Additions - 17,033 34,137 51,170
Disposals - (16,114 ) (45,715 ) (61,829 )
At 31 March 2023 43,768 43,000 152,755 239,523
DEPRECIATION
At 1 March 2022 43,768 37,281 136,205 217,254
Charge for period - 4,240 26,569 30,809
Eliminated on disposal - (14,972 ) (43,877 ) (58,849 )
At 31 March 2023 43,768 26,549 118,897 189,214
NET BOOK VALUE
At 31 March 2023 - 16,451 33,858 50,309
At 28 February 2022 - 4,800 28,128 32,928

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 March 2022
and 31 March 2023 531
NET BOOK VALUE
At 31 March 2023 531
At 28 February 2022 531

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Trade debtors 1,584,841 1,550,349
Amounts owed by group undertakings 109,087 -
Other debtors - 15
Corporation tax 356,320 286,660
Prepayments and accrued income 275,898 283,086
2,326,146 2,120,110

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Bank loans and overdrafts 10,000 10,000
Other loans 211,128 30,841
Trade creditors 206,174 459,581
Amounts owed to group undertakings - 64,604
Social security and other taxes 141,687 163,037
Other creditors 55,740 28,989
Accruals and deferred income 1,044,891 589,021
1,669,620 1,346,073

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£ £
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 16,463 26,857
Other loans - 1-2 years 17,944 33,503
Other loans - 2-5 years - 20,864
44,407 91,224

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£ £
Within one year 59,794 63,780
Between one and five years - 53,150
59,794 116,930

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal value: 2023 2022

as
restated
£ £
7,953,810 Ordinary £0.0001 795 795
3,059,156 Series Seed Preferred £0.0001 306 306
1,101 1,101

The Series Seed Preferred shares come with a right to a cumulative 10% annual dividend, payable solely upon a Deemed Liquidation Event. Dividend payments accrue until such an Event occurs. No accrual has been recognised in the financial statements as there are insufficient reserves. The dividend which should accrue for the period ended 31 March 2023 is £317,251.The total dividend which should be accrued at the period end is £390,463.

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


12. RESERVES
Capital Share
Retained Share redemption option
earnings premium reserve reserve Totals
£ £ £ £ £

At 1 March 2022 (775,400 ) 3,210,055 120 - 2,434,775
Prior year adjustment 51,430 - - - 51,430
(723,970 ) 3,210,055 120 - 2,486,205
Profit for the period 292,258 - - - 292,258
Share-based payment charge - - - 48,631 48,631
At 31 March 2023 (431,712 ) 3,210,055 120 48,631 2,827,094

Retained earnings are the accumulated profits and losses to date.

The capital redemption reserve includes amounts transferred following the redemption or purchase of the company's own shares.

Share premium includes any premiums received on issue of share capital, net of any transaction costs associated with the issuing of the shares.

The share option reserve includes accumulated share-based payment charges to date.

13. RELATED PARTY DISCLOSURES

Alliants Technology Canada Inc. is a subsidiary of Alliants Limited.

During the period Alliants Limited made purchases totalling £593,782 (2022: £372,351) from Alliants Technology Canada Inc.

During the period Alliants Limited made sales totalling £175,138 (2022: £165,741) to Alliants Technology Canada Inc.

The amount owed to Alliants Technology Canada Inc. at the period end is £109,087 and is included in 'Debtors: Amounts falling due within one year'. The amount owed to Alliants Technology Canada Inc. at the previous period end was £64,604 and is included within 'Creditors: Amounts falling due within one year'.

The directors do not consider any one party to have control of the company.

ALLIANTS LIMITED (REGISTERED NUMBER: 06868886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2022 TO 31 MARCH 2023


14. SHARE-BASED PAYMENT TRANSACTIONS

The company operates a share-based employee compensation arrangement scheme. The cost of share-based employee compensation arrangements, whereby employees receive remuneration in the form of shares or share options, is recognised as an employee benefit expense in the Statement of Income and Retained Earnings in the year to which the award relates.

The fair value of options granted is recognised as an employee expense with a corresponding increase in equity. It is measured at grant date and spread over the period which is expected to pass before the employees become unconditionally entitled to the shares. The total expense is charged to the Statement of Income and Retained Earnings with the associated credit taken to a share option reserve in equity. At the end of the vesting period, upon lapse or forfeit if earlier, this credit is transferred to retained earnings from the share option reserve.

The cost of the incentive scheme is based on the fair value awards on the date of grant. The value is arrived at using an option pricing model taking into account the terms and conditions upon which the options were granted.

The terms and conditions of grants are as follows:

Grant dateNumber of instrumentsVesting conditionsExpiry date
1 January
2023

412,680

Exit or fifth anniversary of grant date

31 December 2027

The number and weighted average exercise price of share options is as follows:

No. share optionsWeighted average
option value
£
Outstanding at the beginning of the year--
Exercised during the year--
Vested during the year--
Lapsed during the year--
Granted during the year412,6800.17
Outstanding at the end of the year412,6800.17

The expense recognised in the Statement of Income and Retained Earnings during the period arising from equity-settled share-based payments is £48,631 (2022: £Nil).

The fair value of services received in return for share options granted are measured by reference to the fair value of share options granted. The fair value of the services received is measured using the Black Scholes model. This model was selected as it was considered the most suitable as there is no observable market price or entity-specific market data available.