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REGISTERED NUMBER: 09024313 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

DIGITAL GENIUS LIMITED

DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DIGITAL GENIUS LIMITED

Company Information
for the year ended 31 December 2023







Directors: B Maksak
D Chikhachev
G Stockinger





Registered office: Building 423 - Sky View (Ro) Argosy Road
Castle Donington
East Midlands Airport
Derby
DE74 2SA





Registered number: 09024313 (England and Wales)






DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Statement of Financial Position
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 5 1,254 5,307
Investments 6 967 967
2,221 6,274

Current assets
Debtors 7 21,179,279 21,497,916
Cash at bank 108,221 148,590
21,287,500 21,646,506
Creditors
Amounts falling due within one year 8 1,229,433 2,530,584
Net current assets 20,058,067 19,115,922
Total assets less current liabilities 20,060,288 19,122,196

Creditors
Amounts falling due after more than one
year

9

486,076

600,660
Net assets 19,574,212 18,521,536

Capital and reserves
Called up share capital 26,630 11,463
Share premium 10 24,448,071 22,620,691
Other reserves 10 1,075,817 1,075,023
Retained earnings 10 (5,976,306 ) (5,185,641 )
Shareholders' funds 19,574,212 18,521,536

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

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

DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Statement of Financial Position - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





B Maksak - Director


DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Digital Genius 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

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

Patents and licences are being amortised evenly over their estimated useful life of five years.

Investments in subsidiaries
Investment in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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 and development is written off in the year in which it is incurred.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each reporting period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.

Share based payments
The company operates an equity-settled, compensation plan for the companies in the group. The fair value of the employees services received in exchange for the grant of the options is recognised as an expense in the company where the employees are based and a debit to the intercompany account in Digital Genius Limited, if the employees are not based in Digital Genius Limited. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of financial position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement of the relevant company. The credit entry is posted to the share option reserve of Digital Genius Limited.

Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses for the reporting period but the directors believe the company has sufficient resources available for it to meet its obligations, if and when, they fall due and are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the financial statements.

DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

5. Intangible fixed assets
Patents and
licences
£
Cost
At 1 January 2023
and 31 December 2023 57,774
Amortisation
At 1 January 2023 52,467
Amortisation for year 4,053
At 31 December 2023 56,520
Net book value
At 31 December 2023 1,254
At 31 December 2022 5,307

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023
and 31 December 2023 967
Net book value
At 31 December 2023 967
At 31 December 2022 967

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 449,727 542,705
Amounts owed by group undertakings 20,601,006 20,845,812
Other debtors 128,546 109,399
21,179,279 21,497,916

DIGITAL GENIUS LIMITED (REGISTERED NUMBER: 09024313)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 125,000 20,833
Trade creditors 225,760 219,169
Taxation and social security 54,138 24,581
Other creditors 824,535 2,266,001
1,229,433 2,530,584

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 486,076 600,660

Included within other creditors due within one year and due after one year is a amount of £489,583 in connection with a loan provided to the company during the year by Glif Ld LP. The loan bears interest at a rate of 9.5% and matures in October 2027. Greater London Investment Fund holds fixed and floating charges over all the property and undertaking of the company in connection with the loan provided. Further details of the charges can be found at Companies House.

10. Reserves
Retained Share Other
earnings premium reserves Totals
£ £ £ £

At 1 January 2023 (5,185,641 ) 22,620,691 1,075,023 18,510,073
Deficit for the year (790,665 ) (790,665 )
Bonus share issue - 1,827,380 794 1,828,174
At 31 December 2023 (5,976,306 ) 24,448,071 1,075,817 19,547,582

11. Share-based payment transactions

The company operates an EMI-qualifying share option scheme for the employees of its subsidiary. As of the date of the Statement of Financial Position, the company had granted 11,901,317 EMI qualifying share options to 83 employees of one of its subsidiary companies with exercise prices ranging from £0.001 to £0.72 per share. During the period 4,473,260 (2022 - 321,264), share options had vested, no share options were exercised and no share options had lapsed.

The company also operates an unapproved share option scheme for the advisers of its subsidiary and has granted 49,137 share options to 4 advisers of this subsidiary with an exercise price of £0.72 per share. During the year 18,211 share options had vested (2022 - 14,002), no share options were exercised nor lapsed. A charge of £728 was debited to the income statement in respect of the EMI share option scheme.