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REGISTERED NUMBER: 11470702 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

VOLANT AUTONOMY LIMITED

VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


VOLANT AUTONOMY LIMITED

Company Information
for the year ended 31 July 2024







DIRECTORS: D J Cleaver
P Iravani
A J Lawrenson





REGISTERED OFFICE: 16-17 Old Bond Street
Bath
BA1 1BP





REGISTERED NUMBER: 11470702 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Volant Autonomy Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Volant Autonomy Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Volant Autonomy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Volant Autonomy Limited and state those matters that we have agreed to state to the Board of Directors of Volant Autonomy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Volant Autonomy Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Volant Autonomy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Volant Autonomy Limited. You consider that Volant Autonomy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Volant Autonomy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


25 April 2025

VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 25,631 27,499
Tangible assets 5 15,485 27,700
41,116 55,199

CURRENT ASSETS
Debtors 6 639,456 383,382
Cash at bank 168,118 317,389
807,574 700,771
CREDITORS
Amounts falling due within one year 7 58,728 38,673
NET CURRENT ASSETS 748,846 662,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

789,962

717,297

CREDITORS
Amounts falling due after more than one
year

8

75,000

75,000
NET ASSETS 714,962 642,297

CAPITAL AND RESERVES
Called up share capital 10 164 155
Share premium 1,200,612 700,621
Other reserves - 500,000
Retained earnings (485,814 ) (558,479 )
SHAREHOLDERS' FUNDS 714,962 642,297

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

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

VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Balance Sheet - continued
31 July 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 25 April 2025 and were signed on its behalf by:





D J Cleaver - Director


VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Volant Autonomy 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.

The accounts are prepared on the going concern basis as the Directors are confident the company will continue to trade for the next 12 months.

Turnover
Turnover represents amounts receivable for services excluding value added tax. Turnover is recognised when services are rendered.

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

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.


VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

Critical accounting estimates and uncertainties
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Hire purchase and leasing agreements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 11 ) .

VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 August 2023
and 31 July 2024 37,352
AMORTISATION
At 1 August 2023 9,853
Amortisation for year 1,868
At 31 July 2024 11,721
NET BOOK VALUE
At 31 July 2024 25,631
At 31 July 2023 27,499

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 19,959 1,603 23,706 45,268
DEPRECIATION
At 1 August 2023 7,650 641 9,277 17,568
Charge for year 3,992 321 7,902 12,215
At 31 July 2024 11,642 962 17,179 29,783
NET BOOK VALUE
At 31 July 2024 8,317 641 6,527 15,485
At 31 July 2023 12,309 962 14,429 27,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 144,200 -
Other debtors 495,256 383,382
639,456 383,382

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,076 1,770
Taxation and social security 43,327 23,678
Other creditors 13,325 13,225
58,728 38,673

VOLANT AUTONOMY LIMITED (REGISTERED NUMBER: 11470702)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 75,000 75,000

9. DEFERRED TAX
£   
Balance at 1 August 2023 (33,099 )
Movement (42,709 )
Balance at 31 July 2024 (75,808 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
126,560 Ordinary £0.00 1 127 127
37,136 A Ordinary £0.00 1 37 28
164 155

During the year, 9,136 Ordinary A shares were issued. Shares issued were in relation to the investment of £500,000 received in 2023. As a result, the share premium account in the accounts increased by £499,991.

Both Ordinary and Ordinary A shares do not carry any present or future preferential right to dividends, to the company's assets on a winding up or to be redeemed in preference to shares in any other class of shares. They have attached to them full voting rights and full dividend rights. They do not confer any rights of redemption.