Company registration number 11403660 (England and Wales)
MEASURABLE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MEASURABLE LTD
CONTENTS
Page
Chairperson's statement
1-2
Directors' report
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 10
MEASURABLE LTD
CHAIRPERSON'S STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 1 -

1. Introduction

We are pleased to present this Chair's report, which provides an overview of measurable.energy’s performance, strategic initiatives, and future outlook as we continue our mission to revolutionise energy efficiency and eliminate all wasted energy in buildings.

In this report, we highlight key achievements, including significant CO2 reductions and energy savings realised by our clients, such as Tortilla, NHS Cornwall, PKF Francis Clark, and Stink Studios, who have partnered with us to achieve their sustainability goals.

2. Company Overview

measurable.energy is transforming the way businesses and households manage their energy, providing real-time monitoring and automated control, our system reduces energy waste, lowers costs, and shrinks carbon footprints effortlessly. With sustainability at the core of our mission, we're not just saving energy—we're driving a global movement towards smarter, more efficient energy use.

Our AI-powered technology eliminates wasted plug power – energy consumed by devices left on standby or idle – to reduce energy costs and carbon emissions. This wasted energy can account for up to 40% of total electricity usage in commercial buildings and 95% in site accommodation.

Tortilla, a leading European restaurant chain, reduced their carbon emissions by 34%, and achieved a 32% reduction in energy consumption across their facilities, thanks to our energy-saving technology. Similarly, NHS Cornwall halved their energy use and CO2 emissions within 12 months, marking a 59% reduction in energy consumption and a 57% reduction in carbon emissions.

3. Market Opportunity

The global push towards sustainability and the increasing regulatory focus on energy efficiency present a significant market opportunity for measurable.energy. Governments and industries worldwide are adopting stricter environmental regulations and policies aimed at reducing carbon footprints, which is driving demand for innovative energy-saving solutions.

One key regulatory development in the UK is the mandatory Energy Savings Opportunity Scheme (ESOS). Compliance with ESOS and similar regulations across Europe and other regions is not only mandatory but also an opportunity for businesses to reduce costs and enhance sustainability. Our clients, such as Tortilla and NHS Cornwall, have implemented measurable.energy’s technology to meet regulatory requirements while achieving impressive reductions in energy consumption and CO2 emissions.

The increasing emphasis on corporate social responsibility (CSR) is also motivating businesses to adopt smart energy management solutions. With early success in the corporate real estate, hospitality, and healthcare sectors, where energy efficiency is becoming a competitive differentiator, we are well-positioned to expand into new verticals and regions. Our unique product offering positions us to capture a substantial share of this growing market, helping more businesses achieve their sustainability goals while complying with stringent regulations.


4. Financial Performance

measurable.energy has made significant investments in developing our cutting-edge product lineup, while also building a strong management team and business infrastructure designed to support scalable growth and long-term success.

Our financial strategy has been focused on reinvesting profits into research and development (R&D) to maintain our technological edge. The company remains well-capitalised with a strong balance sheet, and we have successfully maintained a positive cash flow, which is critical as we scale our operations.

5. Strategic Partnerships and Collaborations

Strategic partnerships are a cornerstone of our growth strategy. We continue to forge alliances with tech companies. These partnerships not only expand our market reach but also enhance the functionality and value of our products.

MEASURABLE LTD
CHAIRPERSON'S STATEMENT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -

6. R&D and Innovation

Innovation is at the heart of measurable.energy. Our commitment to R&D has led to continuous improvements in our products, including enhanced AI capabilities that provide predictive analytics for energy usage. We are also exploring new technologies such as machine learning algorithms that can further optimise energy consumption patterns.

Our recent innovations, such as the predictive analytics tool, have been instrumental in helping clients like Stink Studios, a creative advertising company, to implement rulesets to help them achieve a 25% reduction in energy use and a 22% reduction in CO2 emissions, demonstrating the practical impact of our R&D efforts.

Our pipeline includes several promising projects aimed at expanding our product suite and entering new markets. We believe these innovations will drive the next phase of growth and provide significant value to our stakeholders.

7. Environmental and Social Impact

measurable.energy is not just about profitability; we are deeply committed to making a positive environmental impact. By reducing energy wastage, our technology contributes to lower carbon emissions, helping businesses and individuals play their part in combating climate change.

In early 2024, measurable.energy announced a strategic partnership with Morgan Sindall, a leading construction and regeneration group in the UK. They will integrate our technology into their projects to enhance energy efficiency and deliver environmentally responsible infrastructure solutions.

8. Future Outlook

Looking ahead, measurable.energy is well-positioned to capitalise on the growing demand for energy efficiency solutions. Our expansion plans include increasing our presence in international markets, particularly in regions where energy costs and environmental concerns are driving the adoption of smart technologies.

We are also exploring options for new product lines that complement our existing offerings, thereby creating additional revenue streams.

9. Investment Proposition

For new investors, measurable.energy represents a compelling opportunity to invest in a company with a strong growth trajectory, a commitment to innovation, and a clear focus on sustainability.

Our proven track record, including substantial CO2 reductions and energy savings achieved by clients such as PKF Francis Clark – who achieved a 38% reduction in energy consumption using our technology – positions us as a reliable and impactful investment in the energy efficiency sector.

10. Conclusion

In conclusion, measurable.energy remains committed to delivering sustainable growth through innovation, strategic partnerships, and a focus on environmental stewardship. We thank our current investors for their continued support and welcome new investors to share in our success.

Ms Karen Bach
Chairwoman
2 September 2024
MEASURABLE LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -

The directors present their annual report and financial statements for the Period ended 31 December 2023.

Principal activities

The principal activity of the company continued to be that of the development and sale of both software and hardware focusing on the identification and reduction of waste energy.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

 

Mr D Williams
Mr J Eadie
Mr L Butterworth
Ms K Bach
(Appointed 7 June 2023)
Mr J S Tudor
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr D Williams
Director
2 September 2024
MEASURABLE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 4 -
31 December 2023
30 June 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
536,310
4,903
Tangible assets
5
81,521
25,352
617,831
30,255
Current assets
Stocks
6
689,520
238,393
Debtors
7
127,703
135,587
Cash at bank and in hand
1,899,865
467,172
2,717,088
841,152
Creditors: amounts falling due within one year
8
(121,654)
(27,151)
Net current assets
2,595,434
814,001
Total assets less current liabilities
3,213,265
844,256
Provisions for liabilities
-
0
(96)
Net assets
3,213,265
844,160
Capital and reserves
Called up share capital
3
1
Share premium account
6,049,780
1,500,099
Equity reserve
117,541
-
0
Profit and loss reserves
(2,954,059)
(655,940)
Total equity
3,213,265
844,160

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

MEASURABLE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 5 -
The financial statements were approved by the board of directors and authorised for issue on 2 September 2024 and are signed on its behalf by:
Mr D Williams
Director
Company registration number 11403660 (England and Wales)
MEASURABLE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
1
Accounting policies
Company information

Measurable Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Reading Business Centre, 8th Floor (RBC) Fountain House, 2 Queens Walk Reading, Berkshire, RG1 7QF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

MEASURABLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 7 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
Straight line over five years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, commencing on the date of purchase of the asset, on the following bases:

Plant and equipment
Straight line over three years
Fixtures and fittings
Straight line over three years
Computers
Straight line over three years

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.

1.6
Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

MEASURABLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 8 -
1.8
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 current liabilities.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Share-based payments

For cash-settled share-based payments, a liability is recognised for the goods and services acquired, measured initially at the fair value of the liability. At the balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognised in profit or loss for the Period.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

MEASURABLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 9 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2022
Number
Number
Total
25
4
4
Intangible fixed assets
Other
£
Cost
At 1 July 2022
8,171
Additions
623,513
At 31 December 2023
631,684
Amortisation and impairment
At 1 July 2022
3,268
Amortisation charged for the Period
92,106
At 31 December 2023
95,374
Carrying amount
At 31 December 2023
536,310
At 30 June 2022
4,903
MEASURABLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 10 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 July 2022
6,304
1,862
20,915
29,081
Additions
68,275
6,391
27,719
102,385
At 31 December 2023
74,579
8,253
48,634
131,466
Depreciation and impairment
At 1 July 2022
407
583
2,739
3,729
Depreciation charged in the Period
25,885
1,674
18,657
46,216
At 31 December 2023
26,292
2,257
21,396
49,945
Carrying amount
At 31 December 2023
48,287
5,996
27,238
81,521
At 30 June 2022
5,897
1,279
18,176
25,352
6
Stocks
2023
2022
£
£
Stocks
689,520
238,393
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
62,187
-
0
Other debtors
65,516
135,587
127,703
135,587
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
62,520
730
Corporation tax
(95,905)
546
Other taxation and social security
66,014
25,325
Other creditors
89,025
550
121,654
27,151
2023-12-312022-07-01false02 September 2024CCH SoftwareCCH Accounts Production 2024.100The principal activity of the company in the year was the development and sale of both software and hardware focusing on the identification and reduction of waste energy.

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