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Registered number: 11402499
Della AI Ltd
Directors' Report and
Financial Statements
For the Period 1 July 2022 to 31 December 2023
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Directors' Report and Financial Statements
Contents
Page
Company Information 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Profit and Loss Account 8
Statement of Comprehensive Income 9
Balance Sheet 10
Statement of Changes in Equity 11
Notes to the Financial Statements 12—18
Page 1
Company Information
Directors Mr. Sergio Renato Liscia
Mr. Guillaume Le Bos
Company Number 11402499
Registered Office 8th Floor 30 Churchill Place
Canary Wharf
London
E14 5RE
Accountants Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Auditors Craufurd Hale Audit Services Limited
Arena Court
Crown Lane
Maidenhead
SL6 8QZ
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Directors' Report
The directors present their report and the financial statements for the period ended 31 December 2023.
Principal Activity
The company's principal activity continues to be that of the development of artificial intelligence technology.
Directors
The directors who held office during the period were as follows:
Mr. Sergio Renato Liscia Appointed 27/12/2022
Mr. Guillaume Le Bos Appointed 27/12/2022
Mr Nicolas Chauville Resigned 30/12/2022
Mr Christophe Frerebeau Resigned 30/12/2022
Mr Jacques Gabillon Resigned 30/12/2022
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Craufurd Hale Audit Services Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board
Mr. Guillaume Le Bos
Director
27 November 2024
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Independent Auditor's Report
Qualified opinion
We have audited the financial statements of Della AI Ltd (the 'company') for the period ended 31 December 2023 which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, except for the effects of the matter described in the Basis for qualified opinion section, the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the period then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Qualified Opinion
The company’s intercompany foreign exchange rates are determined by the central treasury department which sets the rates monthly and based on the rates published by the European Central Bank. During the year this is done a few days before month-end and at the end of the year, the rates are set on the rates that are published on the last working day of the year. The company maintains the transactions in their CAS systems as this is an internal transaction and must keep transactions aligned.
During the course of the audit, it was noted that the foreign exchange rate prevailing during the date of transaction compared to the rate used in the accounting system resulted in £187,800 in exchange difference. From an audit point of view this is a material error. This has been brought to the attention of the Management and we have noted Management’s point of view that the adjustment has not been made as the transactions need to be aligned between the related entities. 
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
  • the Directors' Report have been prepared in accordance with applicable legal requirements.
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including non-compliance with laws and regulations, was as follows:
  • the engagement director ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
  • we identified the laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience;
  • we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery and employment legislation;
  • we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal fee expenditure; and
  • identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
  • Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
  • considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.To address the risk of fraud through management bias and override of controls, we:
  • performed analytical procedures to identify any unusual or unexpected relationships;
  • tested journal entries to identify unusual transactions;
  • assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
  • investigated the rationale behind significant or unusual transactions.In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
  • agreeing financial statements disclosures to underlying supporting documentation; and
  • enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above.  The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of management and inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
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Christopher Rayner FCA (Senior Statutory Auditor)
for and on behalf of Craufurd Hale Audit Services Limited , Statutory Auditor
28 November 2024
Craufurd Hale Audit Services Limited
Arena Court
Crown Lane
Maidenhead
SL6 8QZ
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Profit and Loss Account
31 December 2023 30 June 2022
Notes £ £
TURNOVER 3 375,860 113,895
GROSS PROFIT 375,860 113,895
Administrative expenses (1,505,843 ) (901,397 )
Other operating expenses (189,327 ) (54,670 )
OPERATING LOSS (1,319,310 ) (842,172 )
Profit on disposal of fixed asset investments 8,732,033 -
Other interest receivable and similar income 8 268,173 2,220
Interest payable and similar charges 9 1,977 7,470
PROFIT/(LOSS) BEFORE TAXATION 7,682,873 (832,482 )
Tax on Profit/(loss) 10 - 25,877
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL PERIOD 7,682,873 (806,605 )
The notes on pages 12 to 18 form part of these financial statements.
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Statement of Comprehensive Income
31 December 2023 30 June 2022
£ £
PROFIT FOR THE FINANCIAL PERIOD 7,682,873 (806,605 )
OTHER COMPREHENSIVE INCOME FOR THE PERIOD - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 7,682,873 (806,605 )
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Balance Sheet
31 December 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 11 14,626 3,137
Investments 12 - 9,043
14,626 12,180
CURRENT ASSETS
Debtors 13 8,664,488 249,038
Cash at bank and in hand 131,100 593,736
8,795,588 842,774
Creditors: Amounts Falling Due Within One Year 14 (233,829 ) (1,115,701 )
NET CURRENT ASSETS (LIABILITIES) 8,561,759 (272,927 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,576,385 (260,747 )
Creditors: Amounts Falling Due After More Than One Year 15 - (14,812 )
NET ASSETS/(LIABILITIES) 8,576,385 (275,559 )
CAPITAL AND RESERVES
Called up share capital 16 63,190 55,048
Share premium account 1,583,137 1,011,535
Other reserves - 78,304
Profit and Loss Account 6,930,058 (1,420,446 )
SHAREHOLDERS' FUNDS 8,576,385 (275,559)
On behalf of the board
Mr. Guillaume Le Bos
Director
27 November 2024
The notes on pages 12 to 18 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Share Premium Other reserves Profit and Loss Account Total
£ £ £ £ £
As at 1 July 2021 54,435 962,148 23,634 (613,841 ) 426,376
Loss for the year and total comprehensive income - - - (806,605 ) (806,605)
Arising on shares issued during the period 613 49,387 - - 50,000
Movements in other reserves - - 54,670 - 54,670
As at 30 June 2022 and 1 July 2022 55,048 1,011,535 78,304 (1,420,446 ) (275,559)
Profit for the period and total comprehensive income - - - 7,682,873 7,682,873
Arising on shares issued during the period 8,142 571,602 - - 579,744
Movements in other reserves - - (78,304) - (78,304)
Transfer to/from Other Reserves - - - 667,631 667,631
As at 31 December 2023 63,190 1,583,137 - 6,930,058 8,576,385
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Notes to the Financial Statements
1. General Information
Della AI Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11402499 . The registered office is 8th Floor 30 Churchill Place, Canary Wharf, London, E14 5RE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
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 £.
Disclosure of long or short period
The financial period was extended from 30 June 2023 to 31 December 2023 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment Straight line over 3 years
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, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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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 balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
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.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. 
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.
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3. Turnover
Analysis of turnover by geographical market is as follows:
31 December 2023 30 June 2022
£ £
United Kingdom 255,044 76,879
Europe 70,968 26,473
North America 49,848 10,543
375,860 113,895
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:
5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
31 December 2023 30 June 2022
£ £
Wages and salaries 446,900 380,347
Social security costs 40,942 38,158
Other pension costs 8,029 6,212
495,871 424,717
6. Average Number of Employees
Average number of employees, including directors, during the period was: 4 (2022: 12)
4 12
7. Directors' remuneration
31 December 2023 30 June 2022
£ £
Emoluments 24,518 90,720
Company contributions to money purchase pension schemes 642 4,536
25,160 95,256
8. Interest Receivable and Similar Income
31 December 2023 30 June 2022
£ £
Other interest receivable 268,173 2,220
268,173 2,220
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9. Interest Payable and Similar Charges
31 December 2023 30 June 2022
£ £
Bank loans and overdrafts 575 121
Foreign exchange charges (2,552 ) (7,591 )
(1,977) (7,470)
10. Tax on Profit
The tax credit on the profit/(loss) for the period was as follows:
31 December 2023 30 June 2022
£ £
Current tax
UK Corporation Tax - (25,877 )
Total tax charge for the period - (25,877 )
The actual credit for the period can be reconciled to the expected charge/(credit) for the period based on the profit/(loss) and the standard rate of corporation tax as follows:
31 December 2023 30 June 2022
£ £
Profit before tax 7,682,873 (832,482)
Tax on profit at 25% (UK standard rate) 1,920,718 -
Goodwill/depreciation not allowed for tax 950 -
Expenses not deductible for tax purposes 53,951 -
Capital allowances (3,822 ) -
Research and Development tax credit - (25,877 )
Exercise of employee share options (56,790 ) -
Tax losses unutilised carried forward 268,001 -
Revenue exempt from taxation (2,183,008 ) -
Total tax charge for the period - (25,877)
At the end of the period, total accumulated tax losses amounting £2,162,339 have been carried forward. No deferred tax has been recognized on the losses.
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11. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2022 8,464
Additions 15,287
As at 31 December 2023 23,751
Depreciation
As at 1 July 2022 5,327
Provided during the period 3,798
As at 31 December 2023 9,125
Net Book Value
As at 31 December 2023 14,626
As at 1 July 2022 3,137
12. Investments
Unlisted
£
Cost
As at 1 July 2022 9,043
Additions 128,924
Disposals (137,967 )
As at 31 December 2023 -
Provision
As at 1 July 2022 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 -
As at 1 July 2022 9,043
In May 2023, Della AI France SAS, a subsidiary company, was sold to Wolters Kluwer Legal Software France SAS as part of an internal reorganisation of the group of companies owned ultimately by Wolters Kluwer N.V.
Subsidiaries
Details of the company's subsidiary as at the beginning of the year were as follows:
Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
Della AI France France Ordinary 100.00% 100.00%
These financial statements are separate company financial statements for Della AI Ltd.
Separate financial statements are required to be prepared by law. Consolidated financial statements for the Wolters Kluwer Group are prepared by the ultimate parent company, Wolters Kluwer N.V., and are publicly available.
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13. Debtors
31 December 2023 30 June 2022
£ £
Due within one year
Trade debtors 66,698 44,375
Prepayments and accrued income 14,875 13,411
Other debtors 7,553 2,000
VAT 52,445 2,783
Net wages - 30
Amounts owed by group undertakings 8,522,917 -
Amounts owed by subsidiaries - 186,439
8,664,488 249,038
14. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 June 2022
£ £
Trade creditors 946 10,480
Bank loans and overdrafts - 3,950
Corporation tax - (25,877 )
Other taxes and social security - 11,863
Other creditors 7,374 978,389
Accruals and deferred income 225,509 136,896
233,829 1,115,701
15. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 30 June 2022
£ £
Bank loans - 14,812
- 14,812
16. Share Capital
31 December 2023 30 June 2022
Allotted, called up and fully paid £ £
1,263,793 Ordinary Shares of £ 0.05 each 63,190 55,048
Shares issued during the period: £
162,824 Ordinary Shares of £ 0.05 each 8,142
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17. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the period the charge to profit or loss in respect of defined contribution schemes was £8,029 (2022: £6,212).
At the balance sheet date contributions of £0 (2022: £1,019) were due to the fund and are included in creditors.
18. Related Party Disclosures
At the end of the accounting period, loans amounting to £382,757 (Jun 2022: £Nil) were still payable to the parent company, Wolters Kluwer Holdings (UK) PLC.
At the end of the accounting period, trade debtors amounting to £8,905,673 (Jun 2022: £186,439) were owed by a connected party, Wolters Kluwer France.
On 26 May 2023, Della AI Ltd disposed its investment in Della AI France to Wolters Kluwer France, realising a gain on disposal of £8,732,033.
19. Controlling Parties
The company is a wholly-owned subsidiary of Wolters Kluwer Holdings (UK) Ltd , a company registered in England & Wales.
The ultimate parent undertaking is Wolters Kluwer N.V. (incorporated in Netherlands). Its registered office is Zuidpoolsingel 2, PO Box 1030, 2400 BA Alphen aan den Rijn, The Netherlands. .
Copies of the group accounts may be obtained from the company's registered office, or online at www.wolterskluwer.com.
The company's controlling party is Wolters Kluwer NV by virtue of their interest in the share capital of the company.
20. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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