Apperio Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 07797028 (England and Wales)
Apperio Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Apperio Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,000
22,615
Investments
5
7
7
5,007
22,622
Current assets
Debtors
6
914,851
774,546
Cash at bank and in hand
362,358
588,460
1,277,209
1,363,006
Creditors: amounts falling due within one year
7
(2,571,350)
(1,901,860)
Net current liabilities
(1,294,141)
(538,854)
Total assets less current liabilities
(1,289,134)
(516,232)
Creditors: amounts falling due after more than one year
8
(1,308,112)
(1,437,838)
Net liabilities
(2,597,246)
(1,954,070)
Capital and reserves
Called up share capital
10
12,375
12,375
Share premium account
18,582,290
18,582,290
Profit and loss reserves
(21,191,911)
(20,548,735)
Total equity
(2,597,246)
(1,954,070)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Apperio Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
David Eldridge
Director
Company Registration No. 07797028
Apperio Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Apperio Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future owing to strong relations with their investors and management of their working capital. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for services net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
3 years straight line
Computer equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Apperio Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Apperio Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
34
3
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
-
0
(144,968)
Apperio Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
214,320
Disposals
(178,737)
At 31 December 2024
35,583
Depreciation and impairment
At 1 January 2024
191,705
Depreciation charged in the year
17,615
Eliminated in respect of disposals
(178,737)
At 31 December 2024
30,583
Carrying amount
At 31 December 2024
5,000
At 31 December 2023
22,615
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
7
7

Investments comprise ordinary shares held in Apperio Inc, a wholly owned subsidiary which incorporated in Delaware, United States of America, on 24 May 2016.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
264,024
132,010
Amounts owed by group undertakings
530,360
530,360
Other debtors
22,598
25,802
Prepayments and accrued income
97,869
86,374
914,851
774,546

Included within Trade Debtors is a bad debt provision of £111,332 (2023: £nil).

Apperio Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 7
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
518,915
518,919
Trade creditors
113,187
41,996
Taxation and social security
152,306
99,482
Other creditors
304,214
17,944
Accruals and deferred income
1,482,728
1,223,519
2,571,350
1,901,860

HSBC Innovation Banking holds a fixed and floating charge over the companies bank accounts for use of its business charge card.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,308,112
1,437,838

 

9
Loans and overdrafts
2024
2023
£
£
Bank loans
1,827,027
1,956,757
Loans from related parties
300,000
-
0
2,127,027
1,956,757
Payable within one year
818,915
518,919
Payable after one year
1,308,112
1,437,838

At 31 December 2024 the group owed Hp Growth Debt Fund I Spv S.A.R.L £1,827,027 (2023: £1,956,757). This is secured by way of a fixed and floating charge over the companies assets.

Apperio Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 8
10
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
26,139,717 Ordinary shares of 0.01p each
2,614
2,614
2,614
2,614
Preference share capital
Issued and fully paid
3,736,235 Preferred A shares of 0.01p each
374
374
1,740,646 Preferred B shares of 0.01p each
174
174
10,046,428 Preferred C1 shares of 0.01p each
1,005
1,005
10,181,281 Preferred C2 shares of 0.01p each
1,018
1,018
71,902,573 Preferred D shares of 0.01p each
7,190
7,190
388 Preferred M shares of 0.01p each
-
-
9,761
9,761
Reconciliation of movements during the year:
At 1 January 2024
Issue of fully paid shares
At 31 December 2024
Number
Number
Number
Ordinary
26,139,717
-
26,139,717
Preference A
3,736,235
-
3,736,235
Preference B
1,740,646
-
1,740,646
Preference C1
10,046,428
-
10,046,428
Preference C2
10,181,281
-
10,181,281
Preference D
71,902,573
-
71,902,573
Preference M
-
388
388
123,746,880
388
123,747,268

The following amounts were outstanding at the reporting end date:

11
Related party transactions

The company has taken advantage of the exemption available in FRS 102 Section 33.1A not to disclose transactions with wholly owned subsidiary undertakings.

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