Registration number:
Pactio Technologies Limited
for the Period from 1 July 2023 to 31 December 2024
Pactio Technologies Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pactio Technologies Limited
Company Information
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Director |
Mr Eric James Heimark |
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Registered office |
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Pactio Technologies Limited
(Registration number: 13468854)
Balance Sheet as at 31 December 2024
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Note |
31 December |
30 June |
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Fixed assets |
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Intangible assets |
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- |
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Tangible assets |
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Current assets |
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Debtors |
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Investments |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
82 |
82 |
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Share premium reserve |
79,998 |
79,998 |
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Capital redemption reserve |
12,935,206 |
3,243,318 |
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Retained earnings |
(5,441,932) |
(2,059,151) |
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Shareholders' funds |
7,573,354 |
1,264,247 |
For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Pactio Technologies Limited
(Registration number: 13468854)
Balance Sheet as at 31 December 2024
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Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Disclosure of long or short period
Going concern
Whilst the Company currently has a net asset position but is loss making, the Board is confident that the Company will be able to meet its liabilities as they fall due for a period not less than 12 months from the signing of the Balance Sheet.
On this understanding, the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
33% straight line |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Trademarks |
10% straight line |
Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
Share based payments
The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees are measured by reference to the fair value of equity instruments issued at the date of grant. Amounts are expensed on a straight line basis over the vesting period based on the estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions. The cost and fair value of the liability incurred in respect of cash-settled transactions is measured using an appropriate option pricing model with changes in fair value recognised in profit or loss for the period.
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
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Intangible assets |
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Trademarks, patents and licenses |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 December 2024 |
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Amortisation |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 July 2023 |
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Additions |
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Disposals |
( |
( |
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At 31 December 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the period |
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Eliminated on disposal |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 30 June 2023 |
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Debtors |
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Current |
31 December |
30 June |
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Trade debtors |
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- |
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Prepayments |
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Other debtors |
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Current asset investments |
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31 December |
30 June |
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Other investments |
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- |
Investments consist of short term deposits, which mature after 31 days and accrue interest at a rate of 4.55% per annum.
Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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31 December |
30 June |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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31 December |
30 June |
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Not later than one year |
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Later than one year and not later than five years |
- |
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The amount of non-cancellable operating lease payments recognised as an expense during the period was £
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Share capital |
Allotted, called up and fully paid shares
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31 December |
30 June |
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No. |
£ |
No. |
£ |
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82.00 |
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82.00 |
Pactio Technologies Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Share-based payments |
Pactio Holding Incorporated offers a share option scheme for certain employees and advisors. As at 31 December 2024, the total number of employees of the Company that share options have been granted to is 26 (June 2023:12), and the total number of options granted available for exercise is 1,264,324 (June 2023: 461,751). In certain circumstances the options may lapse if the relevant individual ceases to be an employee of the Company.
Options are generally exercisable at a price equal to the estimated fair value of the Company's shares on the date of grant.
The fair value of the share options at the grant date was calculated using the Black-Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.
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Related party transactions |
Director's remuneration
The director's remuneration for the period was as follows:
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31 December |
30 June |
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Directors remuneration |
456,253 |
190,147 |
The company has taken advantage of the exemption of section 33.1 A of FRS 102 Related Party Transaction from disclosing the details of transactions with other companies within the group.
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Control |
The controlling party is Pactio Holding Incorporated.
The ultimate controlling party is Pactio Holding Incorporated.