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KITE INSIGHTS LIMITED

Registered Number
08086586
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

KITE INSIGHTS LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BRET STERN, Laurence Marie
DEBROUX, Laurence
LAMBIN, Sophie Marie Daniele
STOPFORD SACKVILLE, Ela Lucinda
VAIDYA, Parag, Mr.

Registered Address

2 Vardens Road
London
SW11 1RH

Registered Number

08086586 (England and Wales)
KITE INSIGHTS LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3483,577487,996
Tangible assets4634951
484,211488,947
Current assets
Debtors5738,7061,521,648
Cash at bank and on hand263,881372,304
1,002,5871,893,952
Creditors amounts falling due within one year6(1,080,465)(1,419,984)
Net current assets (liabilities)(77,878)473,968
Total assets less current liabilities406,333962,915
Creditors amounts falling due after one year7(299,793)(38,860)
Net assets106,540924,055
Capital and reserves
Called up share capital324324
Share premium2,014,9052,014,905
Profit and loss account(1,908,689)(1,091,174)
Shareholders' funds106,540924,055
The financial statements were approved and authorised for issue by the Board of Directors on 6 May 2025, and are signed on its behalf by:
LAMBIN, Sophie Marie Daniele
Director
Registered Company No. 08086586
KITE INSIGHTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Development costs
Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year2840
3.Intangible assets

Total

£
Cost or valuation
At 01 January 24788,369
Additions320,218
At 31 December 241,108,587
Amortisation and impairment
At 01 January 24300,373
Charge for year324,637
At 31 December 24625,010
Net book value
At 31 December 24483,577
At 31 December 23487,996
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 241,583
At 31 December 241,583
Depreciation and impairment
At 01 January 24632
Charge for year317
At 31 December 24948
Net book value
At 31 December 24634
At 31 December 23951
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables409,4831,281,343
Amounts owed by group undertakings6,84310,051
Other debtors16,70966,760
Prepayments and accrued income305,671163,494
Total738,7061,521,648
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables76,515371,189
Bank borrowings and overdrafts24,04224,217
Taxation and social security79,959328,318
Other creditors152,139132,461
Accrued liabilities and deferred income747,810563,799
Total1,080,4651,419,984
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts299,79338,860
Total299,79338,860
Convertible loan notes amounting to £275,000 were issued in September 2024.
8.Events after reporting date
The company is currently subject to an HMRC compliance check in relation to its R&D tax credit claim for the year ended 31st Dec 2023. The outcome of this review is unknown at the date of signing the financial statements. Should any liability arise, the directors believe it would not have a material impact on the company’s financial position. No provision has been made in these accounts. There is no R&D tax credit for the 31st December 2024 financial year.
9.Related party transactions
During the year the company entered into the following transactions with related parties: There was a balance of £6,843 (2023: £10,481) due from the USA branch and £nil (2023: £nil) due to the Switzerland branch. The Swiss entity was closed with effective 17th July 2024.
10.Further information regarding the company's financial position
Included in Other Creditors, due within one year, is a loan account with director Sophie Marie Daniele Lambin of £129,104 (2023: £119,149).
11.Prior period policy changes
Personnel and Third-Party Costs Reporting Policy For statutory reporting purposes, all costs relating to permanent, temporary, and casual personnel are included within administrative expenses. In 2024, we adopted a more refined classification of third-party service providers. Where external suppliers delivered a distinct component of a project that was integrated and resold to clients, their costs are now reported under cost of sales. Freelancers engaged on a day rate or hourly basis, however, continue to be classified as personnel and are reported within administrative expenses.