IRIS Accounts Production v24.3.2.46 07538198 Board of Directors 1.1.24 30.9.24 30.9.24 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075381982023-12-31075381982024-09-30075381982024-01-012024-09-30075381982022-12-31075381982023-01-012023-12-31075381982023-12-3107538198ns15:EnglandWales2024-01-012024-09-3007538198ns14:PoundSterling2024-01-012024-09-3007538198ns10:Director12024-01-012024-09-3007538198ns10:PrivateLimitedCompanyLtd2024-01-012024-09-3007538198ns10:SmallEntities2024-01-012024-09-3007538198ns10:AuditExempt-NoAccountantsReport2024-01-012024-09-3007538198ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-09-3007538198ns10:SmallCompaniesRegimeForAccounts2024-01-012024-09-3007538198ns10:FullAccounts2024-01-012024-09-300753819812024-01-012024-09-3007538198ns10:Director22024-01-012024-09-3007538198ns10:Director32024-01-012024-09-3007538198ns10:RegisteredOffice2024-01-012024-09-3007538198ns5:CurrentFinancialInstruments2024-09-3007538198ns5:CurrentFinancialInstruments2023-12-3107538198ns5:Non-currentFinancialInstruments2024-09-3007538198ns5:Non-currentFinancialInstruments2023-12-3107538198ns5:ShareCapital2024-09-3007538198ns5:ShareCapital2023-12-3107538198ns5:SharePremium2024-09-3007538198ns5:SharePremium2023-12-3107538198ns5:RetainedEarningsAccumulatedLosses2024-09-3007538198ns5:RetainedEarningsAccumulatedLosses2023-12-3107538198ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-09-3007538198ns5:FurnitureFittings2024-01-012024-09-3007538198ns5:ComputerEquipment2024-01-012024-09-3007538198ns5:IntangibleAssetsOtherThanGoodwill2024-09-3007538198ns5:PlantMachinery2023-12-3107538198ns5:PlantMachinery2024-01-012024-09-3007538198ns5:PlantMachinery2024-09-3007538198ns5:PlantMachinery2023-12-3107538198ns5:CostValuation2023-12-3107538198ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-09-3007538198ns5:CostValuation2024-09-3007538198ns5:Subsidiary12024-01-012024-09-30075381981ns5:Subsidiary12024-01-012024-09-3007538198ns5:Subsidiary12024-09-3007538198ns5:Subsidiary12023-12-3107538198ns5:Subsidiary12023-12-3107538198ns5:Subsidiary12023-01-012023-12-3107538198ns5:Subsidiary22024-01-012024-09-3007538198ns5:Subsidiary232024-01-012024-09-3007538198ns5:Subsidiary22024-09-3007538198ns5:Subsidiary22023-12-3107538198ns5:Subsidiary22023-01-012023-12-3107538198ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3007538198ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3107538198ns5:Non-currentFinancialInstruments2024-01-012024-09-30
REGISTERED NUMBER: 07538198 (England and Wales)















Unaudited Financial Statements

for the Period 1 January 2024 to 30 September 2024

for

That Device Company Ltd

That Device Company Ltd (Registered number: 07538198)






Contents of the Financial Statements
for the Period 1 January 2024 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


That Device Company Ltd

Company Information
for the Period 1 January 2024 to 30 September 2024







DIRECTORS: Mr C G Haynes III
Mr S C Scott
Mr C B Lawrence





REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN





REGISTERED NUMBER: 07538198 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

That Device Company Ltd (Registered number: 07538198)

Balance Sheet
30 September 2024

30.9.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 64,280 -
Tangible assets 5 11,823 6,920
Investments 6 56 6,672
76,159 13,592

CURRENT ASSETS
Debtors 7 1,694,188 1,813,062
Cash at bank and in hand 668 34,513
1,694,856 1,847,575
CREDITORS
Amounts falling due within one year 8 (50,799 ) (23,282 )
NET CURRENT ASSETS 1,644,057 1,824,293
TOTAL ASSETS LESS CURRENT LIABILITIES 1,720,216 1,837,885

CREDITORS
Amounts falling due after more than one year 9 (3,804,675 ) (3,565,845 )
NET LIABILITIES (2,084,459 ) (1,727,960 )

CAPITAL AND RESERVES
Called up share capital 7,652 7,652
Share premium 4,724,478 4,724,478
Retained earnings (6,816,589 ) (6,460,090 )
SHAREHOLDERS' FUNDS (2,084,459 ) (1,727,960 )

That Device Company Ltd (Registered number: 07538198)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:





Mr C B Lawrence - Director


That Device Company Ltd (Registered number: 07538198)

Notes to the Financial Statements
for the Period 1 January 2024 to 30 September 2024

1. STATUTORY INFORMATION

That Device Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company's key source of estimation uncertainty relates to the recoverability of balances due from its subsidiaries. The recovery of amounts due rely on future cashflows being generated by the debtor which cannot be assured at a level sufficient to repay the amount in full. If amounts due to the company from its subsidiaries were not recovered, the company would incur a bad debt charge of £1,617,842 based on amounts due to the company at the balance sheet date.

Turnover
Turnover represents amounts invoiced to customers net of value added tax, for goods and services supplied by the year end. Licence and subscription revenues are recognised on a straight line basis over the period of the respective agreements giving rise to deferred revenue at the year end.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is not being amortised due to still being developed. Once complete the amortisation will start essentially.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Tangible assets are included at cost less depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.


That Device Company Ltd (Registered number: 07538198)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments held as fixed assets are shown at cost less provision for impairment.

Consolidation
The company is exempt from preparing consolidated financial statements under Part 15 of the Companies Act 2006 on the grounds that the group headed by That Device Company Limited is small. These financial statements therefore present information about the company as an individual undertaking and not about its group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

That Device Company Ltd (Registered number: 07538198)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 64,280
At 30 September 2024 64,280
NET BOOK VALUE
At 30 September 2024 64,280

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 20,347
Additions 8,249
Disposals (11,981 )
At 30 September 2024 16,615
DEPRECIATION
At 1 January 2024 13,427
Charge for period 3,345
Eliminated on disposal (11,980 )
At 30 September 2024 4,792
NET BOOK VALUE
At 30 September 2024 11,823
At 31 December 2023 6,920

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024 6,672
Impairments (6,616 )
At 30 September 2024 56
NET BOOK VALUE
At 30 September 2024 56
At 31 December 2023 6,672

That Device Company Ltd (Registered number: 07538198)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 September 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Breezie INC
Registered office: United States of America
Nature of business: Software development
%
Class of shares: holding
Common Stock 100.00
30.9.24 31.12.23
£    £   
Aggregate capital and reserves (515,200 ) (539,626 )
(Loss)/profit for the period/year (34,918 ) 33,188

Breezie Technologies Limited
Registered office: Canada
Nature of business: Software development
%
Class of shares: holding
Common Stock 100.00
30.9.24 31.12.23
£    £   
Aggregate capital and reserves (1,293,502 ) (1,100,278 )
Loss for the period/year (254,280 ) (285,852 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.12.23
£    £   
Trade debtors - 4,426
Amounts owed by group undertakings 1,617,842 1,716,267
Other debtors 76,346 92,369
1,694,188 1,813,062

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.12.23
£    £   
Trade creditors 31,648 4,510
Taxation and social security 7,208 5,363
Other creditors 11,943 13,409
50,799 23,282

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 31.12.23
£    £   
Amounts owed to group undertakings 3,804,675 3,565,845

All balances due more than one year relate to intercompany loans.

That Device Company Ltd (Registered number: 07538198)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 30 September 2024

10. RELATED PARTY DISCLOSURES

At the period end, the company was owed £759,977 (31 Dec 2023: £797,259), from Breezie Inc., a 100% owned subsidiary in relation to financing activities. Amounts due are unsecured, interest free and repayable on demand.

At the period end, the company was owed £857,865 (31 Dec 2023: £919,008) from Breezie Technologies Limited, a 100% owned subsidiary in relation to financing activities. Amounts due are unsecured, interest free and repayable on demand.

At the period end, the company owed £3,804,675 (31 Dec 2023: £3,565,845) to VitalTech Communities LLC, the Parent company.

11. CONTROLLING PARTY

In the opinion of the directors, Vitaltech Communities LLC is the immediate parent company of That Device Company Limited. There is no known ultimate controlling party of That Device Company Limited.

12. FACTORS AFFECTING FUTURE TAX CHARGE

The company has tax losses of £3,703,537 (31 Dec 2023: £3,603,803) available to offset against future trading profits.