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Company No: 15213676 (England and Wales)

ANKAR.AI LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ANKAR.AI LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ANKAR.AI LTD

COMPANY INFORMATION

For the financial year ended 31 December 2024
ANKAR.AI LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Wiem Gharbi
Tamar Elise Gomez
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 15213676 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
ANKAR.AI LTD

BALANCE SHEET

As at 31 December 2024
ANKAR.AI LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024
£
Fixed assets
Tangible assets 4 8,567
8,567
Current assets
Debtors 5 26,501
Cash at bank and in hand 6 2,412,904
2,439,405
Creditors: amounts falling due within one year 7 ( 64,703)
Net current assets 2,374,702
Total assets less current liabilities 2,383,269
Net assets 2,383,269
Capital and reserves
Called-up share capital 2,999,953
Profit and loss account ( 616,684 )
Total shareholders' funds 2,383,269

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 Ankar.AI Ltd (registered number: 15213676) were approved and authorised for issue by the Board of Directors on 04 March 2025. They were signed on its behalf by:

Wiem Gharbi
Director
ANKAR.AI LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ANKAR.AI LTD

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, unless otherwise stated.

General information and basis of accounting

Ankar.AI Ltd (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 Treviot House, 186-192 High Road, Ilford, IG1 1LR, 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 Profit and Loss Account 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the Black-Scholes pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

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:

Plant and machinery etc. 4 years straight line
25 % reducing balance

2. Employees

2024
Number
Monthly average number of persons employed by the Company during the year, including directors 5

3. Share-based payments

Equity-settled share-based payment schemes

The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are B Ordinary shares granted with a fixed exercise price determined at the grant of the option. The options vest over a period of 4 years following the date of the grant. The options are exercisable until up to the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company.

The company also operates an unapproved share option scheme. The options are B Ordinary shares granted with a fixed exercise price determined at the grant of the option. The options vest over a period of 3 years following the date of the grant. The options are exercisable until up to the 10th anniversary from the date of grant. Non- Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to fulfilment of obligations.

Details of the share options outstanding during the financial year are as follows:

2024
Weighted Average
Number of share options Average exercise price (£)
Outstanding at beginning of period 0 0
Granted during the period 99,651 0
Outstanding at the end of the period 99,651 0
Exercisable at the end of the period 0 0

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 0 0
Additions 10,327 10,327
At 31 December 2024 10,327 10,327
Accumulated depreciation
At 01 January 2024 0 0
Charge for the financial year 1,760 1,760
At 31 December 2024 1,760 1,760
Net book value
At 31 December 2024 8,567 8,567

5. Debtors

2024
£
Trade debtors 15,272
Other debtors 11,229
26,501

6. Cash and cash equivalents

2024
£
Cash at bank and in hand 2,412,904

7. Creditors: amounts falling due within one year

2024
£
Trade creditors 15,789
Other taxation and social security 8,055
Other creditors 40,859
64,703

8. Financial commitments

Other financial commitments

2024
£
Commitments in respect of rental 8,040