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Registration number: 03133149

Alertive Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2024 to 31 March 2025

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Alertive Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Alertive Limited

Company Information

Directors

Mr K A Douglas

Mr G N Williams

Mr R H Cunningham

Company secretary

Mr K A Douglas

Registered office

The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Alertive Limited

(Registration number: 03133149)
Balance Sheet as at 31 March 2025

Note

31 March 2025
 £

(As restated)
31 December 2023
 £

Fixed assets

 

Intangible assets

4

3,327,223

3,013,061

Tangible assets

5

37,915

30,294

Investments

61

61

 

3,365,199

3,043,416

Current assets

 

Debtors

7

758,784

262,542

Cash at bank and in hand

 

527,525

175,665

 

1,286,309

438,207

Creditors: Amounts falling due within one year

9

(519,013)

(811,987)

Net current assets/(liabilities)

 

767,296

(373,780)

Total assets less current liabilities

 

4,132,495

2,669,636

Creditors: Amounts falling due after more than one year

9

(54,442)

(1,354,100)

Deferred Income

 

(1,181,501)

(669,457)

Net assets

 

2,896,552

646,079

Capital and reserves

 

Called up share capital

89,972

31,132

Share premium reserve

14,841,669

11,171,525

Profit and loss account

(12,035,089)

(10,556,578)

Total equity

 

2,896,552

646,079

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Alertive Limited

(Registration number: 03133149)
Balance Sheet as at 31 March 2025 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

Approved and authorised by the Board on 2 May 2025 and signed on its behalf by:
 

.........................................
Mr K A Douglas
Company secretary and director

   
     
 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 03133149.

The address of its registered office is:
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 - Section 1A' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The accounts have been prepared on the going concern basis. The directors have considered a number of factors including the current performance of the business, the retention of existing customers, the current pipeline of sales opportunities and ability to close new contracts, the necessary costs required to meet customer requirements and the requirement to raise further investment.

The directors are comfortable with adopting the Going Concern basis given their review of these and other factors.

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

2

Accounting policies (continued)

Reclassification of comparative amounts

Due to a change in accounting policy the accounts have been restated to capitalise development costs as intangible assets. This change in accounting policy has resulted in the profit and loss account reserves at 31 December 2023 increasing in value by £3,013,061. The prior year accounts include an adjustment to increase the value of intangible assets by this amount.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Service income is recognised based on performance and licence income is recognised on a straight line basis over the term of the licence.

Contract revenue recognition

Income on contracts is recognised on the basis of the stage of contract completion achieved and to the extent that the company is confident that substantially no further material work will be required to be performed.

Local government grants

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded in sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated in sterling at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tax credits represent the recovery of research and development claims made during the year.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

term of lease

Plant and equipment

25% straight line basis

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

2

Accounting policies (continued)

Research and development costs

Research expenditure is charged to the profit and loss account as incurred.

Development costs are capitalised and treated as intangible assets on the balance sheet, as the entity can demonstrate that all of the points in FRS 102 18.8H are met, and those costs are written off on a straight line basis over a period of 10 years, which is estimated to be the useful life of the development costs.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

10 years straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company operates a defined contribution scheme for the benefit of its employees.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 27 (2023 - 32).

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2024

3,971,344

3,971,344

Additions internally developed

926,379

926,379

At 31 March 2025

4,897,723

4,897,723

Amortisation

At 1 January 2024

958,283

958,283

Amortisation charge

612,217

612,217

At 31 March 2025

1,570,500

1,570,500

Carrying amount

At 31 March 2025

3,327,223

3,327,223

At 31 December 2023

3,013,061

3,013,061

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

5

Tangible assets

Office and computer equipment
£

Total
£

Cost

At 1 January 2024

98,267

98,267

Additions

29,542

29,542

Disposals

(762)

(762)

At 31 March 2025

127,047

127,047

Depreciation

At 1 January 2024

67,973

67,973

Charge for the year

21,734

21,734

Eliminated on disposal

(575)

(575)

At 31 March 2025

89,132

89,132

Carrying amount

At 31 March 2025

37,915

37,915

At 31 December 2023

30,294

30,294

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

6

Investments

2025
£

2023
£

Investments in subsidiaries

61

61

Subsidiaries

£

Cost

At 1 January 2024

61

Carrying amount

At 31 March 2025

61

At 31 December 2023

61

7

Debtors

Current

2025
£

2023
£

Trade debtors

545,251

15,918

Prepayments

7,525

9,037

Other debtors

206,008

237,587

 

758,784

262,542

Other debtors include the R&D tax credit receivable of £206,008 (2023 - £237,587).

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £40,320 (2023 - £12,000).

Amounts disclosed in the balance sheet

Included in the balance sheet are contingencies of £92,097 (2023 - £92,097).

 

Alertive Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025 (continued)

9

Creditors

Creditors: amounts falling due within one year

31 March 2025
 £

31 December 2023
 £

Due within one year

Trade creditors

6,345

9,983

Taxation and social security

155,222

199,640

Other creditors

357,446

602,364

519,013

811,987

Creditors include government loans which are secured over the assets of the company of £323,014 (2023 - £572,774).

Creditors: amounts falling due after more than one year

2025
£

2023
£

Due after one year

Convertible debt

-

1,299,658

Other creditors

54,442

54,442

54,442

1,354,100

The company has unsecured convertible loan notes due after more than one year amounting to £Nil (2023 - £1,299,658) in issue.