Company Registration No. 12460298 (England and Wales)
Data-Edge Analytics Limited
Unaudited financial statements
for the year ended 28 February 2024
Pages for filing with the registrar
Data-Edge Analytics Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Data-Edge Analytics Limited
Statement of financial position
As at 28 February 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
57,066
13,750
Current assets
Debtors
5
1,391,836
1,317,181
Cash at bank and in hand
192,372
291,762
1,584,208
1,608,943
Creditors: amounts falling due within one year
6
(764,658)
(637,110)
Net current assets
819,550
971,833
Total assets less current liabilities
876,616
985,583
Provisions for liabilities
(10,941)
(2,615)
Net assets
865,675
982,968
Capital and reserves
Called up share capital
400
400
Other reserves
4,764
-
0
Profit and loss reserves
860,511
982,568
Total equity
865,675
982,968

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Data-Edge Analytics Limited
Statement of financial position (continued)
As at 28 February 2024
2
The financial statements were approved by the board of directors and authorised for issue on 14 November 2024 and are signed on its behalf by:
J Gardener
Director
Company Registration No. 12460298
Data-Edge Analytics Limited
Statement of financial position (continued)
As at 28 February 2024
28 February 2024
3
1
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are no judgements or key estimates that have had a significant effect on amounts recognised in the financial statements

 

2
Accounting policies
Company information

Data-Edge Analytics Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Saffery LLP, St Catherine's Court, Berkeley Place, Bristol, BS8 1BQ.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion.

Data-Edge Analytics Limited
Notes to the financial statements
For the year ended 28 February 2024
2
Accounting policies (continued)
4
2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 yrs straight line
Computers
3 yrs straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

2.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Data-Edge Analytics Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
2
Accounting policies (continued)
5
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Data-Edge Analytics Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
2
Accounting policies (continued)
6
2.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

2.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
15
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 March 2023
24,088
Additions
57,201
At 28 February 2024
81,289
Depreciation and impairment
At 1 March 2023
10,338
Depreciation charged in the year
13,885
At 28 February 2024
24,223
Carrying amount
At 28 February 2024
57,066
At 28 February 2023
13,750
Data-Edge Analytics Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
7
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
472,007
772,024
Corporation tax recoverable
19,719
-
0
Other debtors
900,110
545,157
1,391,836
1,317,181
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
86,831
75,204
Corporation tax
-
0
97,210
Other taxation and social security
348,973
234,658
Other creditors
328,854
230,038
764,658
637,110
7
Share-based payment transactions

During the year, the company recognised total expenses of £4,764 (2023 - £nil) which related to equity settled share based payment transactions.

Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 March 2023
2,652,220
-
0
0.02
-
0
Granted
-
0
2,652,220
-
0
0.02
Expired
(75,000)
-
0
0.02
-
0
Outstanding at 28 February 2024
2,577,220
2,652,220
0.02
0.02
Exercisable at 28 February 2024
-
0
-
0
-
0
-
0

The weighted average share price at the date of exercise for share options exercised during the year was £- (2023 - £0).

The options outstanding at 28 February 2024 had an exercise price ranging from £0.013 to £0.019, and a remaining contractual life of 4 - 5 years .

Data-Edge Analytics Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
8
8
Related party transactions

During the year, the company acquired services from entities over which the directors' have significant control. The amounts paid to these entities totalled £35,505 (2023: £20,925). At the year end, £nil (2023: £nil) was owed to these entities.

 

At the year end, the company owes directors £103,629 (2023: £1,658) which is included within other creditors. No interest has been incurred in respect of these amounts.

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