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REGISTERED NUMBER: 03375289 (England and Wales)












BRANDWORKZ LTD

Unaudited Financial Statements

for the Year Ended 31 December 2024






BRANDWORKZ LTD (REGISTERED NUMBER: 03375289)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRANDWORKZ LTD

Company Information
for the Year Ended 31 December 2024







Directors: Mrs E J Birt
Mr B Luna
M Mcgaughey





Registered office: Suite 118 22 Highbury Grove
London
N5 2EF





Registered number: 03375289 (England and Wales)





Accountants: Michael Price Associates Ltd
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

BRANDWORKZ LTD (REGISTERED NUMBER: 03375289)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1,983,671 1,898,998
Tangible assets 5 20,746 17,385
2,004,417 1,916,383

Current assets
Debtors 6 1,020,542 1,314,696
Cash at bank 38,106 243,595
1,058,648 1,558,291
Creditors
Amounts falling due within one year 7 2,466,572 2,720,611
Net current liabilities (1,407,924 ) (1,162,320 )
Total assets less current liabilities 596,493 754,063

Capital and reserves
Called up share capital 10,590 10,590
Other reserves 399,554 399,554
Retained earnings 186,349 343,919
596,493 754,063

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.

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 10 March 2025 and were signed on its behalf by:





M Mcgaughey - Director


BRANDWORKZ LTD (REGISTERED NUMBER: 03375289)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. Statutory information

Brandworkz 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Brandworkz Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises the revenue for the SaaS (Software as a Service) software licences on a monthly basis as it has been delivered. The company recognises the revenue for professional services on a quarterly basis in arrears as it has been delivered.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of useful life cannot be made, the useful life shall not exceed ten years. The normal useful life is expected to be three years.

Development expenditure that is incurred on specific projects is capitalised when recoverability can be forseen with reasonable certainty and is amortised in relation to anticipated sales arising from such projects.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery - 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation
Taxation for the year 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.


BRANDWORKZ LTD (REGISTERED NUMBER: 03375289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. Accounting policies - continued
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 year 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.

Pension costs and other post-retirement benefits
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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Going concern
The directors will continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short-term creditors are measure 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.

3. Employees and directors

The average number of employees during the year was 20 (2023 - 20 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 January 2024 9,100,056
Additions 1,290,906
At 31 December 2024 10,390,962
Amortisation
At 1 January 2024 7,201,058
Charge for year 1,206,233
At 31 December 2024 8,407,291
Net book value
At 31 December 2024 1,983,671
At 31 December 2023 1,898,998

BRANDWORKZ LTD (REGISTERED NUMBER: 03375289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2024 44,743
Additions 11,668
At 31 December 2024 56,411
Depreciation
At 1 January 2024 27,358
Charge for year 8,307
At 31 December 2024 35,665
Net book value
At 31 December 2024 20,746
At 31 December 2023 17,385

6. Debtors: amounts falling due within one year
31/12/24 31/12/23
£    £   
Trade debtors 543,887 681,425
Other debtors 476,655 633,271
1,020,542 1,314,696

7. Creditors: amounts falling due within one year
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 33,946 -
Trade creditors 174,097 238,755
Amounts owed to group undertakings 444,149 598,269
Taxation and social security 116,592 52,851
Other creditors 1,697,788 1,830,736
2,466,572 2,720,611

8. Ultimate controlling party

The company is a wholly owned subsidiary of Spinakr Solutions, LLC, a company incorporated in Dallas, Texas, USA.

9. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.