Company registration number 13048024 (England and Wales)
CRIZAC INFORMATICS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CRIZAC INFORMATICS LTD
CONTENTS
Page
Director's report
1
Profit and loss account
2
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
CRIZAC INFORMATICS LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity which the company will be involved in information technology and support services within the educational sector.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr C Nagle
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr C Nagle
Director
7 June 2025
CRIZAC INFORMATICS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
2024
2023
£
£
Turnover
840,802
1,385,037
Cost of sales
(5,633)
(436,000)
Gross profit
835,169
949,037
Administrative expenses
(6,688)
(63,312)
Other operating income
1,000,000
-
0
Operating profit
1,828,481
885,725
Interest receivable and similar income
4,259
-
0
Profit before taxation
1,832,740
885,725
Tax on profit
(458,185)
(208,493)
Profit for the financial year
1,374,555
677,232

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CRIZAC INFORMATICS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
463
969,936
Cash at bank and in hand
707,202
121,199
707,665
1,091,135
Creditors: amounts falling due within one year
5
(665,595)
(406,909)
Net current assets
42,070
684,226
Capital and reserves
Called up share capital
563
100
Profit and loss reserves
41,507
684,126
Total equity
42,070
684,226

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved and signed by the director and authorised for issue on 7 June 2025
Mr C  Nagle
Director
Company registration number 13048024 (England and Wales)
CRIZAC INFORMATICS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
100
6,894
6,994
Year ended 31 December 2023:
Profit and total comprehensive income
-
677,232
677,232
Balance at 31 December 2023
100
684,126
684,226
Year ended 31 December 2024:
Profit and total comprehensive income
-
1,374,555
1,374,555
Issue of share capital
463
-
463
Dividends
-
(2,017,174)
(2,017,174)
Balance at 31 December 2024
563
41,507
42,070
CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
1
Accounting policies
Company information

Crizac Informatics Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 24 Great Chapel Street, London, United Kingdom,, W1F 8FS.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

The company recognises revenue from the following major sources:

 

 

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Education support services

Revenue is recognised at the time when the university confirms the successful registration of the student on receipt of full payment of the term fees at this point of time the company issues the invoice to accrue the commission due on these educations services.

1.3
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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.5
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.

1.6
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.

2
Exceptional item
2024
2023
£
£
Income
Contract termination fees
1,000,000
-

The company was engaged in a profit-sharing agreement for a jointly run global marketing business. The company’s partner agreed to pay a termination fee to acquire 100% of the rights to the future profits of the business.

 

3
Employees

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

2024
2023
Number
Number
Total
1
2
CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
969,936
Other debtors
463
-
0
463
969,936
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
6,198
Corporation tax
458,184
208,493
Other taxation and social security
203,411
186,868
Other creditors
4,000
5,350
665,595
406,909
6
Related party transactions

Related Party Transaction - Turnover

During the year, the company provided services of £2,936 (2023 :- £857,356) and £1,000,000 contract termination fees from Crizac Limited a UK company (refer note 2 in the notes to the accounts) which was related by virtue of director being a CEO of the company. Further, the company provided service of £205,686 (2023:- £516,228) to Holmes Global limited a UK company which was related by virtue of common directorship.

 

Related Party Transaction - Expenses

During the year, the company paid Nil (2023;- £130,448) to ACG Technologies Ltd a UK Registered company which is related by virtue of common directorship.

7
Ultimate Controlling party

The ultimate controlling party of the company is the director C Nagle by virtue of holding shares in the companies which are the ultimate shareholders of the company.

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