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REGISTERED NUMBER: 09350032 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALTITUDE ANGEL LTD

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ALTITUDE ANGEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr R S Parker
Mr K M Beales
Mr P C Knook
Mr C J Forster





REGISTERED OFFICE: The Blade
Abbey Square
Reading
RG1 3BE





REGISTERED NUMBER: 09350032 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 72,110 227,745
Tangible assets 5 130,371 560,861
Investments 6 453 453
202,934 789,059

CURRENT ASSETS
Debtors 7 1,511,392 922,490
Cash at bank 607,833 2,766,329
2,119,225 3,688,819
CREDITORS
Amounts falling due within one year 8 1,370,347 794,568
NET CURRENT ASSETS 748,878 2,894,251
TOTAL ASSETS LESS CURRENT
LIABILITIES

951,812

3,683,310

CREDITORS
Amounts falling due after more than one
year

9

-

5,316,849
NET ASSETS/(LIABILITIES) 951,812 (1,633,539 )

CAPITAL AND RESERVES
Called up share capital 11 21 16
Share premium 17,004,636 11,279,447
Retained earnings (16,052,845 ) (12,913,002 )
SHAREHOLDERS' FUNDS 951,812 (1,633,539 )

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.

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

BALANCE SHEET - continued
31 DECEMBER 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 30 April 2025 and were signed on its behalf by:




Mr R S Parker - Director



Mr C J Forster - Director


ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Altitude Angel 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.

During the year the company has met its working capital requirements from funds provided by the company's shareholders. The directors consider that with this continued support and positive outlook for the company's trading position it is appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover represents the total amount receivable by the company for goods supplied and services provided, excluding value added tax. Revenue from the provision of software and related services is recognised proportionally across the licence period. Revenue from other services is recognised when the company has met its contractual obligations and obtained its right to full consideration.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research activities is recognised as an expense in the period in which it is incurred.

In the event that an internally generated intangible asset arises from the company's development activities then it will be recognised only if all of the following conditions are met:

- an asset is created that can be separately identified;
- the project from which the asset arises meets the company's criteria for assessing technical feasibility;
- it is probable that the asset created will generate future economic benefits; and
- the development cost of the asset can be measured reliably.

Internally generated intangible assets are amortised on a straight-line basis over their useful lives. Where
no internally generated intangible asset can be recognised, development expenditure is recognised as an
expense in the period in which it is incurred.

Subsequent expenditure on capitalised intangible assets is capitalised only when it increases the future
economic benefits embodied in the specific asset to which it relates. All other expenditure is expensed as
incurred.

Research and development expenditure capitalised in accordance with the above policy is written off over
the expected life of the project which is estimated to be five years.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 47 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 778,173
AMORTISATION
At 1 January 2024 550,428
Charge for year 155,635
At 31 December 2024 706,063
NET BOOK VALUE
At 31 December 2024 72,110
At 31 December 2023 227,745

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

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 1,104,934
Additions 34,557
Disposals (28,766 )
At 31 December 2024 1,110,725
DEPRECIATION
At 1 January 2024 544,073
Charge for year 449,587
Eliminated on disposal (13,306 )
At 31 December 2024 980,354
NET BOOK VALUE
At 31 December 2024 130,371
At 31 December 2023 560,861

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 453
NET BOOK VALUE
At 31 December 2024 453
At 31 December 2023 453

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 421,915 34,594
Amounts owed by group undertakings 166,636 453
Other debtors 922,841 887,443
1,511,392 922,490

ALTITUDE ANGEL LTD (REGISTERED NUMBER: 09350032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 34,435 168,439
Taxation and social security 89,885 102,971
Other creditors 1,246,027 523,158
1,370,347 794,568

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Other creditors - 5,316,849

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/24 31/12/23
£    £   
Within one year 96,556 28,571

11. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Number: Class: Nominal Value: 2024 2023
£    £   
62,312 Ordinary £0.0001 6 6
34,129 A1 Preference £0.0001 3 3
12,733 A2 Preference £0.0001 1 1
107,374 A3 Preference £0.0001 11 6
21 16

During the year 49,090 A3 Preference shares of £0.0001 each were issued at a premium of £116.62638 per share.