| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| PREVISE LIMITED |
| REGISTERED NUMBER: |
| 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: |
| Registered office: |
| Registered number: |
| Accountants: |
| 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 |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
| Net assets |
| Capital and reserves |
| Called up share capital | 10 |
| Share premium |
| Capital redemption reserve |
| Share Options |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds |
| 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 were approved by the Board of Directors and authorised for issue on |
| PREVISE LIMITED (REGISTERED NUMBER: 09117429) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Previse Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| 4. | Intangible fixed assets |
| Development |
| Intangibles | costs | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Amortisation |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | Fixed asset investments |
| Listed |
| investments |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 7. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors | ( |
) |
| Other debtors |
| Tax |
| VAT |
| Accrued income |
| Prepayments |
| 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 |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Pension payable | - | 900 |
| Other creditors |
| Deferred income |
| Accrued expenses |
| 9. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Income in Advance > 1 year |
| 10. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary Shares | £0.0010 | 608 | 592 |
| 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. |