2023-05-012024-04-302024-04-30false10175887Artificial Intelligence Research Group 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Artificial Intelligence Research Group Ltd

Registered Number
10175887
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Artificial Intelligence Research Group Ltd
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Bill Aronson
John Andrews

Registered Address

483 Green Lanes
London
N13 4BS

Registered Number

10175887 (England and Wales)
Artificial Intelligence Research Group Ltd
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,8602,480
1,8602,480
Current assets
Debtors4,521,62821,412
Cash at bank and on hand167696
21,79522,108
Creditors amounts falling due within one year6(15,891)(32,503)
Net current assets (liabilities)5,904(10,395)
Total assets less current liabilities7,764(7,915)
Creditors amounts falling due after one year7(964,481)(1,381,387)
Net assets(956,717)(1,389,302)
Capital and reserves
Called up share capital9797
Profit and loss account(956,814)(1,389,399)
Shareholders' funds(956,717)(1,389,302)
The financial statements were approved and authorised for issue by the Board of Directors on 20 January 2025, and are signed on its behalf by:
Bill Aronson
Director
Registered Company No. 10175887
Artificial Intelligence Research Group Ltd
Notes to the Financial Statements
for the year ended 30 April 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.
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 stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
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:
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 237,2607,260
At 30 April 247,2607,260
Depreciation and impairment
At 01 May 234,7804,780
Charge for year620620
At 30 April 245,4005,400
Net book value
At 30 April 241,8601,860
At 30 April 232,4802,480
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-20,775
Other debtors643425
Prepayments and accrued income210212
Total85321,412
5.Debtors: amounts due after one year

2024

2023

££
Other debtors20,775-
Total20,775-
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts-24,457
Other creditors13,3915,546
Accrued liabilities and deferred income2,5002,500
Total15,89132,503
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts964,4811,381,387
Total964,4811,381,387
Amounts due after one year is a balance of £948,267 owed by the company to OIDM. The company directors have advised that this balance will be capitalised in the 2024/25 accounts.