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REGISTERED NUMBER: 09370977 (England and Wales)
















Verifly Holdings Ltd

Unaudited Financial Statements

for the Period

1st January 2022 to 23rd December 2022






Verifly Holdings Ltd (Registered number: 09370977)






Contents of the Financial Statements
for the Period 1st January 2022 to 23rd December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Verifly Holdings Ltd

Company Information
for the Period 1st January 2022 to 23rd December 2022







Directors: Mr M W Lange
Mr J Rajendra
Ms R A Shulman





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 09370977 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Verifly Holdings Ltd (Registered number: 09370977)

Statement of Financial Position
23rd December 2022

2022 2021
Notes $    $    $    $   
Fixed assets
Investments 4 11 11

Current assets
Debtors 5 63,080,199 48,628,110
Cash at bank 915,048 996,740
63,995,247 49,624,850
Creditors
Amounts falling due within one year 6 1,843,447 13,017
Net current assets 62,151,800 49,611,833
Total assets less current liabilities 62,151,811 49,611,844

Creditors
Amounts falling due after more than one
year

7

2,514,063

3,938,592
Net assets 59,637,748 45,673,252

Capital and reserves
Called up share capital 11,087 688
Share premium 56,887,324 45,113,461
Capital redemption reserve 3 2
Retained earnings 2,739,334 559,101
59,637,748 45,673,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 23rd December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 23rd December 2022 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.

Verifly Holdings Ltd (Registered number: 09370977)

Statement of Financial Position - continued
23rd December 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th February 2024 and were signed on its behalf by:





Mr J Rajendra - Director


Verifly Holdings Ltd (Registered number: 09370977)

Notes to the Financial Statements
for the Period 1st January 2022 to 23rd December 2022

1. Statutory information

Verifly Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Taxation
Taxation for the period comprises current and deferred tax. 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 or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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.

3. Employees and directors

The average number of employees during the period was 5 (2021 - 5 ) .

Verifly Holdings Ltd (Registered number: 09370977)

Notes to the Financial Statements - continued
for the Period 1st January 2022 to 23rd December 2022

4. Fixed asset investments
Shares in
group
undertakin
$   
Cost
At 1st January 2022
and 23rd December 2022 11
Net book value
At 23rd December 2022 11
At 31st December 2021 11

5. Debtors: amounts falling due within one year
2022 2021
$    $   
Amounts owed by group undertakings 63,019,640 48,626,528
Other debtors 60,559 1,582
63,080,199 48,628,110

6. Creditors: amounts falling due within one year
2022 2021
$    $   
Bank loans and overdrafts 1,333,333 -
Trade creditors 100,850 9,395
Taxation and social security 98,762 -
Other creditors 310,502 3,622
1,843,447 13,017

7. Creditors: amounts falling due after more than one year
2022 2021
$    $   
Bank loans 2,514,063 3,938,592