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Director
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13/05/2025
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Director
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for and on behalf of
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3 Dorset Rise
London
EC4Y 8EN
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| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER | 3 |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| Other operating income |
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| OPERATING LOSS | 5 |
( |
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| Income from other current asset investments |
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| Other interest receivable and similar income | 11 |
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| Interest payable and similar charges | 12 |
( |
( |
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| LOSS BEFORE TAXATION |
( |
( |
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| Tax on Loss | 13 |
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| LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| LOSS FOR THE FINANCIAL YEAR |
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| OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 14 |
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| CURRENT ASSETS | |||||
| Debtors | 16 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 17 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 18 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 20 | - |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 21 |
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| Share premium account |
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| Other Reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 468,635 | 5,424,505 | |||
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Director
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| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 14 |
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| Investments | 15 |
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| CURRENT ASSETS | |||||
| Debtors | 16 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 17 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 20 | - |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 21 |
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| Share premium account |
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| Other Reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 2,061,004 | 6,471,799 | |||
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Director
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| Share Capital | Share Premium | Other Reserves | Profit and Loss Account | Total | |
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| £ | £ | £ | £ | £ | |
| As at 1 January 2023 |
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(3,836,348) |
| Loss for the year and total comprehensive income | - | - | - |
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(6,495,290) |
| Arising on shares issued during the period |
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14,499,183 | - | - | 15,342,356 |
| Movements in other reserves | - | - | 413,787 | - | 413,787 |
| As at 31 December 2023 and 1 January 2024 |
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( |
5,424,505 |
| Loss for the year and total comprehensive income | - | - | - |
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(5,067,955) |
| Arising on shares issued during the period |
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28,651 | - | - | 39,309 |
| Movements in other reserves | - | - | 72,776 | - | 72,776 |
| As at 31 December 2024 |
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( |
468,635 |
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Other Reserves
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2024
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2023
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£
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£
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Legal Reserves
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14,739
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14,739
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Translation Reserve
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173,990
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238,729
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EMI Reserve
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545,066
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407,551
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733,795
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661,019
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| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash flows from operating activities | ||||
| Net cash used in operations | 1 |
( |
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| Interest paid |
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| Tax refunded |
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| Net cash used in operating activities |
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| Cash flows from investing activities | ||||
| Purchase of tangible assets |
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| Interest received |
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| Net cash (used in)/generated from investing activities |
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| Cash flows from financing activities | ||||
| Proceeds from issue of share capital |
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| Proceeds from new other loans | 1,154,276 | - | ||
| Repayment of other loans | - | (4,634,917) | ||
| Amount introduced by directors | - | 14,769 | ||
| Amount withdrawn by directors | (50,486) | - | ||
| Net cash generated from financing activities |
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| (Decrease)/increase in cash and cash equivalents |
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| Cash and cash equivalents at beginning of year | 2 |
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| Cash and cash equivalents at end of year | 2 |
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Loss for the financial year |
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| Adjustments for: | |||
| Tax on loss |
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( |
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| Interest expense |
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| Interest income |
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| Income from investments | - | (181,041) | |
| Depreciation of tangible assets |
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| Movements in working capital: | |||
| Decrease/(increase) in trade and other debtors |
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| Increase in trade and other creditors |
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| Net cash used in operations |
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( |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Cash at bank and in hand |
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| As at 1 January 2024 | Cash flows | As at 31 December 2024 | |
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| £ | £ | £ | |
| Cash at bank and in hand |
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(3,014,670) |
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| Debts falling due within one year |
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6,560 |
( |
| Debts falling due after more than one year | (416,446) | (1,088,060) | (1,504,506) |
| 5,629,226 | (4,096,170) | 1,533,056 | |
| Fixtures & Fittings |
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| Computer Equipment |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Provision of software licences and related support services | 3,117,676 | 2,065,024 | |
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
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| Europe |
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| North America |
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| Asia |
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| 3,117,676 | 2,154,924 | ||
| 2024 | 2023 | ||
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| £ | £ | ||
| Other operating income |
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| 6,500 | 24,838 | ||
| 2024 | 2023 | ||
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| £ | £ | ||
| Depreciation of tangible fixed assets |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
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| Group | Company | ||||||
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| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
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| Social security costs |
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| Other pension costs |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Emoluments |
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| Money purchase pension schemes |
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| 2024 | 2023 | ||
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| Directors exercising share options |
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| Directors receiving shares under long term incentive schemes | - |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Emoluments |
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| Company contributions to money purchase pension schemes |
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| 2024 | 2023 | ||
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| £ | £ | ||
| Bank interest receivable |
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| Reversal of interest on convertible loans | - | 181,041 | |
| 19,959 | 182,116 | ||
| 2024 | 2023 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Foreign exchange charges |
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| Other finance charges | - |
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| 35,519 | 359,207 | ||
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The tax credit on the loss for the year was as follows:
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| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Current tax | |||
| UK Corporation Tax |
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| Foreign tax |
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( |
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( |
( |
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| Deferred Tax | |||
| Deferred taxation |
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| Total tax charge for the period |
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The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:
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| 2024 | 2023 | ||
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| £ | £ | ||
| Profit before tax | (6,173,425) | (6,857,852) | |
| Tax on profit at 25% (UK standard rate) |
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| Short term timing differences |
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| Research and Development tax credit |
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| Difference in tax rates |
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| Total tax charge for the period | (1,105,470) | (362,562) | |
| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at 1 January 2024 |
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| Additions |
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| As at 31 December 2024 |
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| Depreciation | |||
| As at 1 January 2024 |
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| Provided during the period |
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| As at 31 December 2024 |
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| Net Book Value | |||
| As at 31 December 2024 |
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| As at 1 January 2024 |
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| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at 1 January 2024 |
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| Additions |
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| As at 31 December 2024 |
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| Depreciation | |||
| As at 1 January 2024 |
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| Provided during the period |
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| As at 31 December 2024 |
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| Net Book Value | |||
| As at 31 December 2024 |
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| As at 1 January 2024 |
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| Subsidiaries | |
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| £ | |
| Cost | |
| As at 1 January 2024 |
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| Additions |
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| As at 31 December 2024 |
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| Provision | |
| As at 1 January 2024 |
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| As at 31 December 2024 |
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| Net Book Value | |
| As at 31 December 2024 |
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| As at 1 January 2024 |
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| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
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900 3rd Avenue 29th floor New York NY 10022 United States |
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26 Rue de Montholon 75009 Paris France |
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23 Lesmill Road Suite 307 Toronto Ontario M3B 3P6 Canada |
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9 Rue du Laboratoire Luxemborg L-1911 Luxembourg |
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| Group | Company | ||||||
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| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| Directors' loan accounts |
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| Amounts owed by group undertakings | - | - |
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| Due after more than one year | |||||||
| Other debtors |
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| Amounts owed by group undertakings | - | - |
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| Group | Company | ||||||
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| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Trade creditors |
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| Other loans |
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| Amounts owed to group undertakings | - | - |
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| Other creditors | 107,303 | 314,840 | 8,131 | 171,702 | |||
| Taxation and social security | 161,138 | 293,367 | 107,209 | 230,006 | |||
| Accruals and deferred income |
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| Group | ||||
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| 2024 | 2023 | |||
| £ | £ | |||
| Other loans |
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| Group | ||||
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| 2024 | 2023 | |||
| £ | £ | |||
| Amounts falling due within one year or on demand: | ||||
| Other loans |
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| Group | ||||
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| 2024 | 2023 | |||
| £ | £ | |||
| Amounts falling due between one and five years: | ||||
| Other loans |
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| Group | Company | ||||||
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| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Other timing differences | - | 5,839 | - | 5,839 | |||
| Group | Company | ||||||
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| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
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