2023-04-012024-03-312024-03-31false08451828ANTSTREAM 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ANTSTREAM LIMITED

Registered Number
08451828
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ANTSTREAM LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

COTTAM, Steven David
KEENAN, Brandon
LIVINGSTONE, Ian, Sir
MELBOURNE, Darren Arthur Sydney
TUFFT, Richard James

Registered Address

124 City Road
London
EC1V 2NX

Registered Number

08451828 (England and Wales)
ANTSTREAM LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,467,5462,440,680
Tangible assets4-261
Investments5751751
2,468,2972,441,692
Current assets
Debtors62,567,8632,369,953
Cash at bank and on hand1,310,866522,561
3,878,7292,892,514
Creditors amounts falling due within one year7(1,669,324)(2,550,804)
Net current assets (liabilities)2,209,405341,710
Total assets less current liabilities4,677,7022,783,402
Creditors amounts falling due after one year8(1,138,630)(4,859,770)
Net assets3,539,072(2,076,368)
Capital and reserves
Called up share capital254189
Share premium18,279,00310,047,636
Other reserves5353
Profit and loss account(14,740,238)(12,124,246)
Shareholders' funds3,539,072(2,076,368)
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2024, and are signed on its behalf by:
COTTAM, Steven David
Director
Registered Company No. 08451828
ANTSTREAM LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. The intangible asset is the capitalisation of staff costs for a platform which will be available to consumers. The intangible asset is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Staff costs relating to platform development are capitalised, on the basis that the platform is available to consumers.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year1919
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 233,620,2333,620,233
Additions750,912750,912
At 31 March 244,371,1454,371,145
Amortisation and impairment
At 01 April 231,179,5531,179,553
Charge for year724,046724,046
At 31 March 241,903,5991,903,599
Net book value
At 31 March 242,467,5462,467,546
At 31 March 232,440,6802,440,680
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2330,70230,702
At 31 March 2430,70230,702
Depreciation and impairment
At 01 April 2330,44130,441
Charge for year261261
At 31 March 2430,70230,702
Net book value
At 31 March 24--
At 31 March 23261261
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 23751751
At 31 March 24751751
Net book value
At 31 March 24751751
At 31 March 23751751

Notes

1Investments in group undertakings and participating interests
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables76,7781,709
Other debtors318,150-
Prepayments and accrued income2,172,9352,368,244
Total2,567,8632,369,953
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables86,184784,015
Bank borrowings and overdrafts14,659762,035
Amounts owed to related parties587,441591,062
Convertible loans802,315-
Taxation and social security49,218333,432
Accrued liabilities and deferred income129,50780,260
Total1,669,3242,550,804
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Convertible loans1,138,6304,859,770
Total1,138,6304,859,770
9.Share capital
Allotted, called up and fully paid: 2,413,435 (2023: 1,761,900) Ordinary A shares of £0.0001 (2023: £0.0001) each 106,700 (2023: 106,700) Ordinary B shares of £0.0001 (2023: £0.0001) each 17,944 (2023: 17,944) Ordinary C shares of £0.0001 (2023: £0.0001) each