PERSONETICS TECHNOLOGIES (UK) LTD Filleted Accounts Cover
PERSONETICS TECHNOLOGIES (UK) LTD
Audited accounts
Company No. 09593613
Information for Filing with The Registrar
31 December 2023
PERSONETICS TECHNOLOGIES (UK) LTD Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was provision of digital consumer banking solutions.
Directors
The Directors who served at any time during the year were as follows:
Y. Cheifetz
D. Govrin
S. Levy
D. Sosna
A. Zeevi
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with united Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts 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 these accounts, the directors are required to:
*
select suitable accounting policies and then apply them consistently;
*
make judgments and estimates that are reasonable and prudent;
*
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 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.
Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
D. Govrin
Company Secretary
31 January 2025
PERSONETICS TECHNOLOGIES (UK) LTD Balance Sheet Registrar
at
31 December 2023
Company No.
09593613
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
4,53110,430
4,53110,430
Current assets
Debtors
5
2,404,7241,073,135
Cash at bank and in hand
444,038867,030
2,848,7621,940,165
Creditors: Amount falling due within one year
6
(2,865,931)
(2,250,539)
Net current liabilities
(17,169)
(310,374)
Total assets less current liabilities
(12,638)
(299,944)
Net liabilities
(12,638)
(299,944)
Capital and reserves
Called up share capital
11
Profit and loss account
7
(12,639)
(299,945)
Total equity
(12,638)
(299,944)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 January 2025
And signed on its behalf by:
D. Govrin
31 January 2025
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 January 2025
And signed on its behalf by:
D. Govrin
Director
31 January 2025
PERSONETICS TECHNOLOGIES (UK) LTD Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Its registered number is: 09593613
Its registered office is:
201 Haverstock Hill
Second Floor FKGB
London
NW3 4QG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
Going concern
These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.
2
Accounting policies
Turnover
The company measures revenue at the fair value of the consideration received or receivable. The fair value of the consideration received or receivable takes into account the amount of any trade discounts,
prompt settlement discounts and volume rebates allowed by the entity.
The company recognises fees paid for the use of the company’s software in accordance with the
substance of the agreement.
The assignment of rights for a fixed fee or non-refundable guarantee under a non-cancellable contract
that permits the licensee to exploit those rights freely and the company has no remaining obligations to
perform, is recognised at the time of the sale in full.
The company recognises services that are performed over a specified period of time on a straight-line
basis.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
15-33% Straight line
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
Taxation
Tax is recognised in profit or loss, except where the charge is attributable to an item of income or expense recognised in other comprehensive income, or to an item recognised directly in equity. In such cases, the tax is also recognised in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated based on tax rates and legislation enacted or substantively enacted by the reporting date in the jurisdictions where the company operates and earns income.

Deferred tax balances are recognised for all timing differences that have arisen but not reversed by the reporting date, except in the following circumstances:
- The recognition of deferred tax assets is restricted to cases where it is probable that they will be recovered through the reversal of deferred tax liabilities or future taxable profits.
- Deferred tax balances are reversed when all conditions for retaining associated tax allowances have been satisfied.

Deferred tax balances are not recognised for permanent differences, except in the context of business combinations, where deferred tax is recognised on:

Differences between the fair values of assets acquired and the future tax deductions available for them; and
Differences between the fair values of liabilities acquired and the amounts assessable for tax.
Deferred tax is determined using tax rates and legislation that have been enacted or substantively enacted by the reporting date.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
77
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 January 2023
20,76620,766
Disposals
(6,419)
(6,419)
At 31 December 2023
14,34714,347
Depreciation
At 1 January 2023
10,33610,336
Charge for the year
5,8395,839
Disposals
(6,359)
(6,359)
At 31 December 2023
9,8169,816
Net book values
At 31 December 2023
4,5314,531
At 31 December 2022
10,430
10,430
5
Debtors
2023
2022
£
£
Trade debtors
1,358,106168,042
Amounts owed by group undertakings
315,202887,583
Other debtors
97,09717,510
Prepayments and accrued income
634,319-
2,404,7241,073,135
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-161
Trade creditors
20,532315
Amounts owed to group undertakings
1,595,092
1,636,278
Taxes and social security
107,489
44,854
Other creditors
4,7968,345
Accruals and deferred income
1,138,022560,586
2,865,9312,250,539
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
8
Related party disclosures
Transactions with related parties
The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related party disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Personetics Technologies Ltd (Israel)
The parent's registered office address is:
4 Ariel Sharon
Givatayim
Israel
5344730
9
Audit of the accounts
The directors have required the company to obtain an audit.
Unqualified
The auditors were: Gordon Levy Limited
The senior statutory auditor was: Gordon Levy, BA, FCA
PERSONETICS TECHNOLOGIES (UK) LTD0959361331 December 202301 January 2023false31 January 2025BTCSoftware AP Solution 2024 11.1.0611.1.06For the year ended 31 December 2023 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.true095936132023-01-012023-12-31095936132023-12-31095936132022-12-3109593613core:WithinOneYear2023-12-3109593613core:WithinOneYear2022-12-3109593613core:ShareCapital2023-12-3109593613core:ShareCapital2022-12-3109593613core:RetainedEarningsAccumulatedLosses2023-12-3109593613core:RetainedEarningsAccumulatedLosses2022-12-3109593613bus:RegisteredOffice2023-01-012023-12-3109593613core:FurnitureFittingsToolsEquipment2023-01-012023-12-31095936132022-01-012022-12-3109593613core:FurnitureFittingsToolsEquipment2023-01-01095936132023-01-0109593613core:FurnitureFittingsToolsEquipment2023-12-3109593613core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3109593613bus:SmallEntities2023-01-012023-12-3109593613bus:FullAccounts2023-01-012023-12-3109593613bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3109593613bus:Director22023-01-012023-12-3109593613bus:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:pure