DISPERSE.IO LTD

Company Registration Number:
09858715 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

DISPERSE.IO LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

DISPERSE.IO LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 64,818 107,991
Investments: 4 447 20,956
Total fixed assets: 65,265 128,947
Current assets
Stocks: 0 0
Debtors:   799,614 2,439,017
Cash at bank and in hand: 400,216 1,925,790
Total current assets: 1,199,830 4,364,807
Creditors: amounts falling due within one year: 5 (4,627,746) (541,549)
Net current assets (liabilities): (3,427,916) 3,823,258
Total assets less current liabilities: (3,362,651) 3,952,205
Creditors: amounts falling due after more than one year:     (2,927,167)
Total net assets (liabilities): (3,362,651) 1,025,038
Capital and reserves
Called up share capital: 36,452 36,258
Share premium account: 21,406,274 21,393,898
Other reserves: 148,752 131,134
Profit and loss account: (24,954,129) (20,536,252)
Shareholders funds: (3,362,651) 1,025,038

The notes form part of these financial statements

DISPERSE.IO LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 June 2024
and signed on behalf of the board by:

Name: Olli Liukkaala
Status: Director

The notes form part of these financial statements

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 50 65

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 293,636
Additions 23,450
At 31 December 2023 317,086
Depreciation
At 01 January 2023 185,645
Charge for year 66,623
At 31 December 2023 252,268
Net book value
At 31 December 2023 64,818
At 31 December 2022 107,991

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed investments

The company does not have any long-term fixed investments.

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

The convertible loan notes have been classified as a liability in their entirety and as a basic financial instrument. They are measured at amortised cost. The loan notes are repayable on the April 2024, subject to earlier repayment in the even of a sale (unless the note-holder majority elect for the notes to convert) or liquidation, or conversion into shares on completion of qualifying financing or a sale.

DISPERSE.IO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Post balance sheet events

In March 2024, the 2022 and 2023 outstanding convertible loan notes were converted into equity. The company has since raised equity financing with existing investors in April 2024 to fund the ongoing cash requirements of the business. As part of this new financing round there was a capital restrucure of the business with all Seed, Series A and Series B shares being converted to ordinary shares.