REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
FOR |
FINBOOT LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
FOR |
FINBOOT LTD |
FINBOOT LTD (REGISTERED NUMBER: 10523260) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FINBOOT LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
FINBOOT LTD (REGISTERED NUMBER: 10523260) |
BALANCE SHEET |
31ST DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Other reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
FINBOOT LTD (REGISTERED NUMBER: 10523260) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Finboot Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The directors believe that the company is a going concern given the current cash position and forecast growth in revenues from existing and new customers. The directors have evaluated the current financial position, financial forecasts and prospects of the company and have determined that it can continue to operate and meet its financial obligations in the foreseeable future.The company provides services to large enterprise customers which will further expand in 2025 by securing new contracts with additional customers. |
Preparation of consolidated financial statements |
The financial statements contain information about Finboot 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. |
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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and that the revenue can be reliably measured. The following recognition criteria must also be met before turnover is recognised: |
- Turnover from contracts are recognised as related services are performed. |
- Turnover from fixed price contracts are recognised when completed |
- Turnover from subscription contracts are recognised in accordance with the terms of the contract over the period in which the services are rendered. |
- Turnover from signing are recognised when the contract is signed or in the months of the initial period as stipulated in the contract. |
Tangible fixed assets |
Computer equipment | - |
Taxation |
Taxation for the period 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. |
FINBOOT LTD (REGISTERED NUMBER: 10523260) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST 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 period 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2023 |
Additions |
At 31st December 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for period |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 30th September 2023 |
FINBOOT LTD (REGISTERED NUMBER: 10523260) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST DECEMBER 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st October 2023 |
Additions |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 30th September 2023 |
Unlisted investments comprise of 100% of the issued share capital in Finboot Tech SL, a company incorporated in Spain. Finboot Tech S.L's. net liabilities at 30th September 2024 were €88,391 (2023: Net liabilities of €70,132) and during the period ended 30th September 2024, the company made a loss of €30,729 (2023: Loss of €109,689). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £0.00 | 1 | 8,799 | 6,889 |
Ordinary Preferred | £0.00 | 1 | 1,207 | 1,207 |
Preferred Ordinary A | 0.001 | 2,012 | - |
12,018 | 8,096 |
9. | SHARE OPTIONS |
Share options were issued to the directors in the financial period which will vest in an Exit event. |
Certain key employees have been granted share options which will vest in an Exit event. An exit event is defined as the occurrence of a takeover, reconstruction, liquidation, sale or listing. It is highly uncertain when or if any of these events will occur and as a result no accounting entries have been made in this respect. |