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Company No: 08782234 (England and Wales)

DEONTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

DEONTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

DEONTICS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
DEONTICS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 20,383 64,855
Tangible assets 4 2,099 3,519
22,482 68,374
Current assets
Debtors 5 58,257 121,058
Cash at bank and in hand 91,419 184,234
149,676 305,292
Creditors: amounts falling due within one year 6 ( 141,821) ( 76,923)
Net current assets 7,855 228,369
Total assets less current liabilities 30,337 296,743
Net assets 30,337 296,743
Capital and reserves
Called-up share capital 12,376 12,050
Share premium account 7,514,161 6,874,491
Profit and loss account ( 7,496,200 ) ( 6,589,798 )
Total shareholders' funds 30,337 296,743

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Deontics Limited (registered number: 08782234) were approved and authorised for issue by the Board of Directors on 28 February 2025. They were signed on its behalf by:

Dr J E Whitticase
Director
DEONTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
DEONTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Deontics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Orion House, Upper St. Martin's Lane, London, WC2H 9EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment.

Developments costs are capitalised where all of the following criteria can be demonstrated:

(a) the technical feasibility of completing the intangible fixed asset
(b) the intention to complete and use or sell the asset
(c) the ability to sell the asset
(d) the existence of a market, or if to be used internally, the usefulness of the asset
(e) the availability of adequate technical, financial and other resources to complete the asset
(f) the cost of the asset can be measured reliably

Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 11

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 222,360 222,360
At 31 December 2024 222,360 222,360
Accumulated amortisation
At 01 January 2024 157,505 157,505
Charge for the financial year 44,472 44,472
At 31 December 2024 201,977 201,977
Net book value
At 31 December 2024 20,383 20,383
At 31 December 2023 64,855 64,855

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2024 7,838 7,838
Additions 708 708
At 31 December 2024 8,546 8,546
Accumulated depreciation
At 01 January 2024 4,319 4,319
Charge for the financial year 2,128 2,128
At 31 December 2024 6,447 6,447
Net book value
At 31 December 2024 2,099 2,099
At 31 December 2023 3,519 3,519

5. Debtors

2024 2023
£ £
Trade debtors 36,000 97,200
Prepayments 16,000 23,351
Other debtors 6,257 507
58,257 121,058

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 21,202 30,601
Convertible loan notes 85,000 0
Accruals 4,500 6,090
Other taxation and social security 31,119 40,232
141,821 76,923