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REGISTERED NUMBER: 11843660 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SYMMETRICAL.AI LIMITED

SYMMETRICAL.AI LIMITED (REGISTERED NUMBER: 11843660)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SYMMETRICAL.AI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: P Z Smolen
D M Wartolowski





REGISTERED OFFICE: Suite 1, 3rd Floor
11 - 12 St. James's Square
London
SW1Y 4LB





REGISTERED NUMBER: 11843660 (England and Wales)





ACCOUNTANTS: J.Dauman Finance Ltd
Chartered Accountants
Craven House
Ground Floor
40-44 Uxbridge Road
Ealing
London
W5 2BS

SYMMETRICAL.AI LIMITED (REGISTERED NUMBER: 11843660)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 741,518 741,518

CURRENT ASSETS
Debtors 5 9,683,551 4,447,809
Cash at bank 8,283,063 1,767,206
17,966,614 6,215,015
CREDITORS
Amounts falling due within one year 6 37,753 2,880
NET CURRENT ASSETS 17,928,861 6,212,135
TOTAL ASSETS LESS CURRENT LIABILITIES 18,670,379 6,953,653

CAPITAL AND RESERVES
Called up share capital 7 652 2,520,138
Share premium 17,481,946 4,468,668
Other reserves 49,873 49,873
Retained earnings 1,137,908 (85,026 )
SHAREHOLDERS' FUNDS 18,670,379 6,953,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 8 March 2024 and were signed on its behalf by:




P Z Smolen - Director



D M Wartolowski - Director


SYMMETRICAL.AI LIMITED (REGISTERED NUMBER: 11843660)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Symmetrical.AI Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about Symmetrical.ai 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.

Investments in subsidiaries
Investments are recognised at fair value. Changes in fair value are recognised through profit and loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.
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 initially recognised at transaction price.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences 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 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.

Foreign currencies
The company's functional currency is the Euro (EUR) . The financial statements are presented in Pound Sterling (GBP). Changes in foreign exchange rates can affect the translated amounts of assets, liabilities, income, and expenses. Foreign exchange gains or losses are recognized in other comprehensive income and in retained earnings in balance sheet.

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 rate of exchange ruling at the date of transaction.

SYMMETRICAL.AI LIMITED (REGISTERED NUMBER: 11843660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 741,518
NET BOOK VALUE
At 31 December 2022 741,518
At 31 December 2021 741,518

Fixed asset investments include investment in the subsidiary companies Symmetrical Labs sp.z o.o., Symmetrical Payroll Limited and Symmetrical Financials.

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other debtors 9,683,551 4,447,809

Loan - Symmetrical Financials Sp zoo £364,964
Loan - Symmetrical Labs Sp zoo £8,816.511
Loan - Symmetrical Payroll PL £92,605
Loan - Symmetrical Payroll UK £409,471

Interest receivable on loan £352,909


Loan given to Symmetrical Labs sp.z o.o. is repayable within 3 years. Interest is to be paid at the end of the term together with principal repayment. The annual interest rate is EURIBOR 3 months plus 2%.( If EURIBOR 3 months is negative, then 2%).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 36,469 504
Other creditors 1,284 2,376
37,753 2,880

7. CALLED UP SHARE CAPITAL

No. of shares Class Nominal value £
33,573 Ordinary GBP 0.01 336
8,671 Pre - seed Preferred EUR 0.01 75
7,430 Seed Preferred EUR 0.01 64
21,227 Series A Preferred EUR 0.01 177