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REGISTERED NUMBER: 04474324 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BIZ2MOBILE LIMITED

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


BIZ2MOBILE LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: K J Lomax
W J Flind
Dolphin Head Property Limited
G Lee





SECRETARY: W L Price





REGISTERED OFFICE: 167-169 Great Portland Street
LONDON
W1W 5PF





REGISTERED NUMBER: 04474324 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,835,554 9,536,231
Tangible assets 5 869 3,003
9,836,423 9,539,234

CURRENT ASSETS
Debtors 6 3,317,159 3,488,028
Cash at bank 55,550 295,740
3,372,709 3,783,768
CREDITORS
Amounts falling due within one year 7 629,649 816,448
NET CURRENT ASSETS 2,743,060 2,967,320
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,579,483

12,506,554

CREDITORS
Amounts falling due after more than one
year

8

(747,410

)

(808,987

)

ACCRUALS AND DEFERRED INCOME (370,736 ) (272,365 )
NET ASSETS 11,461,337 11,425,202

CAPITAL AND RESERVES
Called up share capital 4,572,436 4,572,436
Share premium 11,851,744 11,851,744
Retained earnings (4,962,843 ) (4,998,978 )
SHAREHOLDERS' FUNDS 11,461,337 11,425,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

BALANCE SHEET - continued
31 December 2024


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 6 March 2025 and were signed on its behalf by:





G Lee - Director


BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 December 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 January 2023 3,769,824 (4,802,898 ) 11,851,744 10,818,670

Changes in equity
Issue of share capital 802,612 - - 802,612
Total comprehensive income - (196,080 ) - (196,080 )
Balance at 31 December 2023 4,572,436 (4,998,978 ) 11,851,744 11,425,202

Changes in equity
Total comprehensive income - 36,135 - 36,135
Balance at 31 December 2024 4,572,436 (4,962,843 ) 11,851,744 11,461,337

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Biz2Mobile Limited 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.

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.

Going Concern
The financial statements have been prepared on the going concern basis as the directors believe that adequate cash resources will be available to cover the company's requirements for working capital and capital expenditure for at least the next twelve months. This statement has been made after a review of the current economic environment. The directors have concluded, due to the nature of the company's business and continued support of investors, the current economic environment has not given rise to any material uncertainty which would cast doubt on the company's ability to continue as a going concern for the next twelve months.

Preparation of consolidated financial statements
The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured as the fair value of consideration received or receivable, excluding value added tax. The following criteria must also be met before revenue is recognised.

Rendering of services
Revenue from a contract to provide services is recognised in the period to which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable the Company will receive the consideration due under the contract; and
- the stage of completion of the contract at the end of the reporting period can be measured reliably;

Provision of goods
Revenue from sale of goods are recognised in respect of invoiced goods which have been invoiced and supplied in the period.

Royalty income
This is invoiced as a percentage of turnover (both services and goods) in the company's subsidiary with the overall recognition policy consistent across the group.

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

Development costs are written off against income arising.

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date. Tax credits are recognised in accordance with current tax legislation.

Research and development
Development costs have been capitalised until such time that the software is complete and available for sale, when it will be written off against arising income.

Research costs are written off in the year in which they are incurred.

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

Leasing commitments
Rentals payable under operating leases are charged to the profit and loss account 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.

Share options
For transactions with employees, the fair value of the equity instruments shall be measured at grant date. Any share based payment charge arising from the measurement at fair value and the actual grant price will be charged to the Income Statement over the applicable vesting period.

For equity-settled share based payment transactions, an entity shall measure the services received and the corresponding increase in equity, at the fair value of services received, unless that fair value cannot be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 15 ) .

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 11,540,307
Additions 383,813
At 31 December 2024 11,924,120
AMORTISATION
At 1 January 2024 2,004,076
Charge for year 84,490
At 31 December 2024 2,088,566
NET BOOK VALUE
At 31 December 2024 9,835,554
At 31 December 2023 9,536,231

5. TANGIBLE FIXED ASSETS
Office Computer
Equipment equipment Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 1,359 125,154 126,513
DEPRECIATION
At 1 January 2024 1,264 122,246 123,510
Charge for year 28 2,106 2,134
At 31 December 2024 1,292 124,352 125,644
NET BOOK VALUE
At 31 December 2024 67 802 869
At 31 December 2023 95 2,908 3,003

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 20,894 -
Amounts owed by group undertakings 3,149,809 3,285,846
Other debtors 146,456 202,182
3,317,159 3,488,028

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 3,785 11,588
Taxation and social security 59,423 15,804
Other creditors 566,441 789,056
629,649 816,448

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors 747,410 808,987

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 5,916 12,535

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Loan 885,829 935,212

The loan with Innovate UK Loans Limited is secured against the assets of the company.

10. SHARE OPTION SCHEME

The company's share option scheme is an Enterprise Management Incentive (EMI) scheme with the first grant made on 14 January 2015. Under the EMI scheme employees are eligible to participate on the successful completion of their probationary period with the company. Share options are issued at the directors' discretion up to a maximum of 2,537,332. There is no specified vesting period, the exercise is dependent on limited circumstances namely the sale of Biz2Mobile Limited or its assets or on the company being listed on the London Stock Exchange or AIM. Two types of share options exist; fixed and variable. The variable share options can be exercised at company exit above £15m, fixed share options can be exercised on any exit. The share options are automatically cancelled on cessation of employment.

Options were valued using the balance sheet valuation method with the proviso that the valuation could not be lower than the nominal value of £0.1.

As at 1 January 2024 the following share options were in existence with an exercise price of £0.1;
643,898 Fixed
1,044,287 Variable

During the period no fixed share options or variable share options were forfeited or granted.

No movement in the hurdle shares issued under a employment related security scheme in the prior year arose in the current year. A total of 30,297,000 shares at a nominal value of £0.00001 per share are in issue and fully paid. The shares have rights to return of capital provided the surplus assets are more than £5,000,000 with conditions in accordance with the company's memorandum and articles of association.

BIZ2MOBILE LIMITED (REGISTERED NUMBER: 04474324)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

11. OTHER FINANCIAL COMMITMENTS

Operating lease commitments for lease expiring in less than one year amount to £9,765 (2023:£17,100).