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REGISTERED NUMBER: 09370977 (England and Wales)
















Verifly Holdings Ltd

Unaudited Financial Statements

for the Period

24th December 2022 to 22nd December 2023






Verifly Holdings Ltd (Registered number: 09370977)






Contents of the Financial Statements
for the Period 24th December 2022 to 22nd December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Verifly Holdings Ltd

Company Information
for the Period 24th December 2022 to 22nd December 2023







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





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
22nd December 2023

2023 2022
Notes $    $    $    $   
Fixed assets
Investments 4 11 11

Current assets
Debtors 5 9,000,000 63,080,199
Cash at bank 739,915 915,048
9,739,915 63,995,247
Creditors
Amounts falling due within one year 6 110,315 1,843,447
Net current assets 9,629,600 62,151,800
Total assets less current liabilities 9,629,611 62,151,811

Creditors
Amounts falling due after more than one
year

7

-

2,514,063
Net assets 9,629,611 59,637,748

Capital and reserves
Called up share capital 11,087 11,087
Share premium 56,887,324 56,887,324
Capital redemption reserve 3 3
Retained earnings (47,268,803 ) 2,739,334
9,629,611 59,637,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 22nd December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 22nd 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.

Verifly Holdings Ltd (Registered number: 09370977)

Statement of Financial Position - continued
22nd 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th September 2024 and were signed on its behalf by:





Mr M W Lange - Director


Verifly Holdings Ltd (Registered number: 09370977)

Notes to the Financial Statements
for the Period 24th December 2022 to 22nd December 2023

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 8 (2022 - 5 ) .

Verifly Holdings Ltd (Registered number: 09370977)

Notes to the Financial Statements - continued
for the Period 24th December 2022 to 22nd December 2023

4. Fixed asset investments
Shares in
group
undertakin
$   
Cost
At 24th December 2022
and 22nd December 2023 11
Net book value
At 22nd December 2023 11
At 23rd December 2022 11

5. Debtors: amounts falling due within one year
2023 2022
$    $   
Amounts owed by group undertakings - 63,019,640
Other debtors 9,000,000 60,559
9,000,000 63,080,199

6. Creditors: amounts falling due within one year
2023 2022
$    $   
Bank loans and overdrafts - 1,333,333
Trade creditors 179 100,850
Taxation and social security 99,379 98,762
Other creditors 10,757 310,502
110,315 1,843,447

7. Creditors: amounts falling due after more than one year
2023 2022
$    $   
Bank loans - 2,514,063