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REGISTERED NUMBER: 09117429 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

PREVISE LIMITED

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREVISE LIMITED

Company Information
for the year ended 31 December 2024







Directors: P G Christensen
P Berkerlaar
R M Matthews
M Dragon
A H Y Leung
G Rossi





Registered office: Building 423 - Sky View (Ro) Argosy Road
East Midlands Airport
Derby
DE74 2SA





Registered number: 09117429 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 4 2,362,589 1,785,872
Tangible assets 5 27,225 36,428
Investments 6 1 1
2,389,815 1,822,301

Current assets
Debtors 7 479,705 1,526,427
Cash at bank 2,651,770 5,388,883
3,131,475 6,915,310
Creditors
Amounts falling due within one year 8 1,353,219 561,087
Net current assets 1,778,256 6,354,223
Total assets less current liabilities 4,168,071 8,176,524

Creditors
Amounts falling due after more than one
year

9

-

1,464,919
Net assets 4,168,071 6,711,605

Capital and reserves
Called up share capital 10 948 932
Share premium 32,184,939 32,179,253
Capital redemption reserve 50 50
Share Options 2,930,916 3,051,760
Retained earnings (30,948,782 ) (28,520,390 )
Shareholders' funds 4,168,071 6,711,605

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.

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





P G Christensen - Director


PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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


1. Statutory information

Previse 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Development costs are being amortised evenly over their estimated useful life on a 10% straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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


2. Accounting policies - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 18 (2023 - 23 ) .

4. Intangible fixed assets
Development
Intangibles costs Totals
£    £    £   
Cost
At 1 January 2024 45,298 2,097,502 2,142,800
Additions - 880,109 880,109
At 31 December 2024 45,298 2,977,611 3,022,909
Amortisation
At 1 January 2024 28,236 328,692 356,928
Amortisation for year 5,631 297,761 303,392
At 31 December 2024 33,867 626,453 660,320
Net book value
At 31 December 2024 11,431 2,351,158 2,362,589
At 31 December 2023 17,062 1,768,810 1,785,872

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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


5. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 January 2024 115,064
Additions 10,906
Disposals (27,579 )
At 31 December 2024 98,391
Depreciation
At 1 January 2024 78,636
Charge for year 17,681
Eliminated on disposal (25,151 )
At 31 December 2024 71,166
Net book value
At 31 December 2024 27,225
At 31 December 2023 36,428

6. Fixed asset investments
Listed
investments
£   
Cost
At 1 January 2024
and 31 December 2024 1
Net book value
At 31 December 2024 1
At 31 December 2023 1

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - (406,156 )
Other debtors 344,197 1,574,238
Tax - 211,911
VAT 14,001 28,620
Accrued income 29,540 4,661
Prepayments 91,967 113,153
479,705 1,526,427

Included in other debtors is £624,079 due to the company, of which £139,544 is from a related company. A provision of £290,067 has been provided for against the total amount.

PREVISE LIMITED (REGISTERED NUMBER: 09117429)

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


8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 13,366 54,267
Amounts owed to group undertakings 1 1,351
Social security and other taxes 57,629 58,698
Pension payable - 900
Other creditors 120 3,938
Deferred income 1,052,305 134,819
Accrued expenses 229,798 307,114
1,353,219 561,087

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Income in Advance > 1 year - 1,464,919

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
591,825 Ordinary Shares £0.0010 608 592
340,211 Ordinary Shares £0.0010 340 340
948 932

11. Employee information

The company operates an EMI qualifying share option scheme and during the year the company
granted 31,416 (2023: 45,933) EMI qualifying share options to employees at an exercise price of
£0.001 per share. During the year 44,937 share options vested (2023: 35,930), 41,308 lapsed (2023:
7,401) and 7,876 options were exercised (2023: 19,585). At the statement of financial position date
91,883 vested share options remained exercisable (2023: 103,063) at an average weighted exercise price of £3.33 per share (2023: £5.49) and 2,574 options had yet to vest (2023: 9,162). An amount of £1,478,087 has been charged to the income statement in respect of the EMI qualifying share options.

The company also operates an unapproved share option scheme and during the year the company granted 15,941 (2023: 15,363) unapproved share options to contractors at an exercise price of £0.001 per share. During the year 18,975 share options vested (2023: 6,827), 19,873 lapsed (2023: 1,000) and 623 were exercised (2023: 600). At the statement of financial position date 14,532 vested share options remained exercisable (2023: 16,077) at an average weighted exercise price of £0.33 per share (2023: £3.49) and 2,359 options had yet to vest (2023: 14,487). An amount of £525,488 has been charged to the income statement in respect of the unapproved share options.
The share options generally vest over a 4 year period with a 1 year cliff and are exercisable over the period.