Pactio Technologies Limited 13468854 false 2023-07-01 2024-12-31 2024-12-31 The principal activity of the company is Business and domestic software development. Digita Accounts Production Advanced 6.30.9574.0 true true 13468854 2023-07-01 2024-12-31 13468854 2024-12-31 13468854 bus:OrdinaryShareClass1 2024-12-31 13468854 core:CurrentFinancialInstruments 2024-12-31 13468854 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13468854 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 13468854 core:BetweenTwoFiveYears 2024-12-31 13468854 core:WithinOneYear 2024-12-31 13468854 core:FurnitureFittingsToolsEquipment 2024-12-31 13468854 bus:SmallEntities 2023-07-01 2024-12-31 13468854 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-12-31 13468854 bus:FilletedAccounts 2023-07-01 2024-12-31 13468854 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-12-31 13468854 bus:RegisteredOffice 2023-07-01 2024-12-31 13468854 bus:Director2 2023-07-01 2024-12-31 13468854 bus:OrdinaryShareClass1 2023-07-01 2024-12-31 13468854 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 13468854 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-12-31 13468854 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-12-31 13468854 core:OfficeEquipment 2023-07-01 2024-12-31 13468854 1 2023-07-01 2024-12-31 13468854 countries:EnglandWales 2023-07-01 2024-12-31 13468854 2023-06-30 13468854 core:FurnitureFittingsToolsEquipment 2023-06-30 13468854 2022-07-01 2023-06-30 13468854 2023-06-30 13468854 bus:OrdinaryShareClass1 2023-06-30 13468854 core:CurrentFinancialInstruments 2023-06-30 13468854 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 13468854 core:BetweenTwoFiveYears 2023-06-30 13468854 core:WithinOneYear 2023-06-30 13468854 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13468854

Pactio Technologies Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 December 2024

 

Pactio Technologies Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Pactio Technologies Limited

Company Information

Director

Mr Eric James Heimark

Registered office

Hamilton House
1 Temple Avenue
London
EC4Y 0HA

 

Pactio Technologies Limited

(Registration number: 13468854)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

30 June
2023
£

Fixed assets

 

Intangible assets

4

13,197

-

Tangible assets

5

50,599

24,391

 

63,796

24,391

Current assets

 

Debtors

6

795,626

54,500

Investments

7

507,500

-

Cash at bank and in hand

 

6,814,653

1,271,238

 

8,117,779

1,325,738

Creditors: Amounts falling due within one year

8

(608,221)

(85,882)

Net current assets

 

7,509,558

1,239,856

Net assets

 

7,573,354

1,264,247

Capital and reserves

 

Called up share capital

82

82

Share premium reserve

79,998

79,998

Capital redemption reserve

12,935,206

3,243,318

Retained earnings

(5,441,932)

(2,059,151)

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 director on 30 April 2025
 

 

Pactio Technologies Limited

(Registration number: 13468854)
Balance Sheet as at 31 December 2024

.........................................
Mr Eric James Heimark
Director

 

Pactio Technologies Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
United Kingdom

2

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

The company's accounting reference date has been extended to 31st December 2024, as required by the directors. Therefore these financial statements are for an 18 month period and not comparable to the previous 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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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:

Asset class

Depreciation method and rate

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:

Asset class

Amortisation method and rate

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 21 (2023 - 12).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

Additions acquired separately

14,390

14,390

At 31 December 2024

14,390

14,390

Amortisation

Amortisation charge

1,193

1,193

At 31 December 2024

1,193

1,193

Carrying amount

At 31 December 2024

13,197

13,197

 

Pactio Technologies Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

36,569

36,569

Additions

58,198

58,198

Disposals

(6,190)

(6,190)

At 31 December 2024

88,577

88,577

Depreciation

At 1 July 2023

12,178

12,178

Charge for the period

31,658

31,658

Eliminated on disposal

(5,858)

(5,858)

At 31 December 2024

37,978

37,978

Carrying amount

At 31 December 2024

50,599

50,599

At 30 June 2023

24,391

24,391

6

Debtors

Current

31 December
2024
£

30 June
2023
£

Trade debtors

344,280

-

Prepayments

37,640

8,269

Other debtors

413,706

46,231

 

795,626

54,500

7

Current asset investments

31 December
2024
£

30 June
2023
£

Other investments

507,500

-

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

8

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

30 June
2023
£

Due within one year

Trade creditors

30,621

21,215

Amounts owed to group undertakings

74,990

-

Taxation and social security

158,518

52,105

Accruals and deferred income

297,365

2,398

Other creditors

46,727

10,164

608,221

85,882

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

31 December
2024
£

30 June
2023
£

Not later than one year

160,746

99,550

Later than one year and not later than five years

-

9,050

160,746

108,600

The amount of non-cancellable operating lease payments recognised as an expense during the period was £281,919 (2023 - £110,532).

10

Share capital

Allotted, called up and fully paid shares

 

31 December
2024

30 June
2023

 

No.

£

No.

£

Ordinary shares of £0.0001 each

820,000

82.00

820,000

82.00

         
 

Pactio Technologies Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

 

11

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.

12

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

31 December
2024
£

30 June
2023
£

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.

 

13

Control

The controlling party is Pactio Holding Incorporated.

The ultimate controlling party is Pactio Holding Incorporated.