IRIS Accounts Production v25.1.0.734 13454068 director 1.1.24 31.12.24 31.12.24 30.4.2025 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh134540682023-12-31134540682024-12-31134540682024-01-012024-12-31134540682022-12-31134540682023-01-012023-12-31134540682023-12-3113454068ns15:EnglandWales2024-01-012024-12-3113454068ns14:PoundSterling2024-01-012024-12-3113454068ns10:Director12024-01-012024-12-3113454068ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3113454068ns10:SmallEntities2024-01-012024-12-3113454068ns10:Audited2024-01-012024-12-3113454068ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3113454068ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3113454068ns10:FullAccounts2024-01-012024-12-3113454068ns10:RegisteredOffice2024-01-012024-12-3113454068ns5:CurrentFinancialInstruments2024-12-3113454068ns5:CurrentFinancialInstruments2023-12-3113454068ns5:ShareCapital2024-12-3113454068ns5:ShareCapital2023-12-3113454068ns5:RetainedEarningsAccumulatedLosses2024-12-3113454068ns5:RetainedEarningsAccumulatedLosses2023-12-3113454068ns5:LeaseholdImprovements2024-01-012024-12-3113454068ns5:PlantMachinery2024-01-012024-12-3113454068ns5:LeaseholdImprovements2023-12-3113454068ns5:PlantMachinery2023-12-3113454068ns5:LeaseholdImprovements2024-12-3113454068ns5:PlantMachinery2024-12-3113454068ns5:LeaseholdImprovements2023-12-3113454068ns5:PlantMachinery2023-12-3113454068ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3113454068ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3113454068ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-12-3113454068ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-3113454068ns5:CurrentFinancialInstruments2024-01-012024-12-3113454068ns5:WithinOneYear2024-12-3113454068ns5:WithinOneYear2023-12-3113454068ns5:BetweenOneFiveYears2024-12-3113454068ns5:BetweenOneFiveYears2023-12-3113454068ns5:AllPeriods2024-12-3113454068ns5:AllPeriods2023-12-31
REGISTERED NUMBER: 13454068 (England and Wales)












APPEAR LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






APPEAR LTD (REGISTERED NUMBER: 13454068)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


APPEAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: T B Jorgensen





REGISTERED OFFICE: Unit 1-2, 5 Benham Road
University of Southampton Science Park
Chilworth
Southampton
Hampshire
SO16 7QJ





REGISTERED NUMBER: 13454068 (England and Wales)





AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR

APPEAR LTD (REGISTERED NUMBER: 13454068)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 136,315 146,891

CURRENT ASSETS
Stocks 34,216 34,216
Debtors 5 1,245,962 883,153
Cash at bank and in hand 907,961 50,262
2,188,139 967,631
CREDITORS
Amounts falling due within one year 6 (1,975,614 ) (936,399 )
NET CURRENT ASSETS 212,525 31,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,840

178,123

PROVISIONS FOR LIABILITIES (23,233 ) (18,440 )
NET ASSETS 325,607 159,683

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 325,606 159,682
325,607 159,683

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:





T B Jorgensen - Director


APPEAR LTD (REGISTERED NUMBER: 13454068)

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


1. STATUTORY INFORMATION

Appear 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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
The turnover shown in the profit and loss account is represented by the following:

- Amounts receivable from the parent undertaking during the year, for provision of support functions. Turnover in respect of services provided to the parent undertaking is calculated as attributable costs plus 5% in accordance with a transfer pricing agreement between Appear Limited and the parent undertaking. Costs incurred by Appear Limited from third parties are not subject to the cost plus basis and are reimbursed by the parent company at cost.

- Turnover in respect of product sales represents sales net of VAT and trade discounts. Turnover is recognised when the delivery of the goods have been confirmed and received by the customer.

- Turnover in respect of maintenance services represents sales net of VAT and trade discounts. Turnover is recognised evenly across the period of the service agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

APPEAR LTD (REGISTERED NUMBER: 13454068)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments. according to the substance of the contractual arrangement. An equity instrument is any contract that evidences a residual interest in the assets of the company utter deducting all of its liabilities.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial instruments' and Section 12 'Other Financial instruments issues’ of FRS 102 to all ot‘its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets. which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

APPEAR LTD (REGISTERED NUMBER: 13454068)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and
to property machinery Totals
£ £ £
COST
At 1 January 2024 92,506 103,813 196,319
Additions 6,169 20,966 27,135
At 31 December 2024 98,675 124,779 223,454
DEPRECIATION
At 1 January 2024 17,931 31,497 49,428
Charge for year 10,005 27,706 37,711
At 31 December 2024 27,936 59,203 87,139
NET BOOK VALUE
At 31 December 2024 70,739 65,576 136,315
At 31 December 2023 74,575 72,316 146,891

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 886,784 618,677
Other debtors 350,478 255,776
1,237,262 874,453

Amounts falling due after more than one year:
Other debtors 8,700 8,700

Aggregate amounts 1,245,962 883,153

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 5,562 6,483
Amounts owed to group undertakings 957,861 111,811
Taxation and social security 407,416 375,600
Other creditors 604,775 442,505
1,975,614 936,399

Amounts owed to group undertakings are interest free and repayable on demand.

APPEAR LTD (REGISTERED NUMBER: 13454068)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 51,497 60,252
Between one and five years 47,377 -
98,874 60,252

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Flood (ACA) (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

9. ULTIMATE CONTROLLING PARTY

The directors regard Appear AS to be the immediate and ultimate parent undertaking by virtue of holding 100% of the issued shares. and the largest group for which consolidated accounts are available.

A copy of the consolidated financial statements can be obtained from Appear AS, Lilleakerveien 2B, 0283 Oslo, Norway.

The directors do not consider there to be an ultimate controlling party.