Company registration number 06677868 (England and Wales)
PREDICT.IO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PREDICT.IO LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
PREDICT.IO LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Trade and other receivables
3
1
208
Current liabilities
4
(124,245)
(124,245)
Net current liabilities
(124,244)
(124,037)
Equity
Called up share capital
5
1
1
Retained earnings
(124,245)
(124,038)
Total equity
(124,244)
(124,037)
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 5 February 2025
Dr Klaus-Dinkar Mapara
Director
Company Registration No. 06677868
PREDICT.IO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Predict.IO Limited is a private company limited by shares incorporated in England and Wales. The registered office is One, New Change, London, EC4M 9AF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company made a loss of £207 (2023: £6,177) during the year ended 31 December 2024 and at that date, the company's liabilities exceeded its assets by £124,244 (2023: £124,037). The director of the company has confirmed that he will provide financial support to enable the company to continue as a going concern and meet its liabilities as they fall due for a period of at least one year from the date of approval of these financial statements. On this basis the director considers it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would be required in the event this support is withdrawn.true
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
PREDICT.IO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
3
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
Other receivables
207
1
208
4
Current liabilities
2024
2023
£
£
Amounts owed to group undertakings
124,245
120,745
Other payables
3,500
124,245
124,245
PREDICT.IO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
1 Ordinary share of £1
1
1
6
Related party transactions
As at 31 December 2024, the company owed £124,245 (2023: £120,745) to predict.io GmbH, the immediate parent company.
7
Parent company
As at 31 December 2024, the immediate parent company was predict.io GmbH, a company registered in Germany.
The results of predict.io Limited are consolidated into the predict.io GmbH group accounts, which are the smallest group accounts drawn up of which the company is a member. These are available on request from Mainparkring 4, 97246 Eibelstadt, Germany.