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Company Registration No. 10605045 (England and Wales)
PREVALENT AI LIMITED Unaudited accounts for the year ended 31 March 2024
PREVALENT AI LIMITED Unaudited accounts Contents
Page
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PREVALENT AI LIMITED Company Information for the year ended 31 March 2024
Directors
Paul David Leslie STOKES Arun Sundar Rajan RAJ Derek Adrian Travers MOCHAN Iain Robert LOBBAN Andrew Timothy FRANCE Jean-Claude BROIDO
Company Number
10605045 (England and Wales)
Registered Office
D W F LLP 20 Fenchurch Street London London EC3M 3AG England
Accountants
Addition Financial Limited Addition at 1 Lyric Square Hammersmith London W6 0NB
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PREVALENT AI LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,290 
2,209 
Current assets
Debtors
160,017 
59,747 
Cash at bank and in hand
966,990 
951,900 
1,127,007 
1,011,647 
Creditors: amounts falling due within one year
(717,555)
(607,763)
Net current assets
409,452 
403,884 
Total assets less current liabilities
412,742 
406,093 
Creditors: amounts falling due after more than one year
(980,962)
(576,989)
Provisions for liabilities
Other provisions
- 
(71,702)
Net liabilities
(568,220)
(242,598)
Capital and reserves
Called up share capital
6 
5 
Share premium
851,683 
9,594 
Profit and loss account
(1,419,909)
(252,197)
Shareholders' funds
(568,220)
(242,598)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by
Paul David Leslie STOKES Director Company Registration No. 10605045
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PREVALENT AI LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
PREVALENT AI LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10605045. The registered office is D W F LLP, 20 Fenchurch Street, London, London, EC3M 3AG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight Line Method - useful life 3 years
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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PREVALENT AI LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
6,456 
Additions
2,708 
At 31 March 2024
9,164 
Depreciation
At 1 April 2023
4,247 
Charge for the year
1,627 
At 31 March 2024
5,874 
Net book value
At 31 March 2024
3,290 
At 31 March 2023
2,209 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
155,006 
50,031 
Accrued income and prepayments
5,011 
9,716 
160,017 
59,747 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
101,100 
8,358 
Trade creditors
175,660 
375,409 
Taxes and social security
7,020 
729 
Other creditors
- 
14,934 
Deferred income
433,775 
208,333 
717,555 
607,763 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
980,962 
576,989 
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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