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Registration number: 12405248

Sensecheck Technologies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Sensecheck Technologies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Sensecheck Technologies Limited

(Registration number: 12405248)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

96,928

72,455

Current assets

 

Debtors

5

1,778

3,378

Cash at bank and in hand

 

16,449

54,216

 

18,227

57,594

Creditors: Amounts falling due within one year

6

(41,202)

(60,999)

Net current liabilities

 

(22,975)

(3,405)

Total assets less current liabilities

 

73,953

69,050

Creditors: Amounts falling due after more than one year

6

(36,081)

(42,986)

Net assets

 

37,872

26,064

Capital and reserves

 

Called up share capital

7

1,196

1,148

Share premium reserve

194,157

161,852

Retained earnings

(157,481)

(136,936)

Shareholders' funds

 

37,872

26,064

 

Sensecheck Technologies Limited

(Registration number: 12405248)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 Board on 10 June 2025 and signed on its behalf by:
 

R Payne-Gill
Director

   
     
 

Sensecheck Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Cobalt Business Exchange Central Silver Fox Way
Cobalt Business Park
Newcastle Upon Tyne
United Kingdom
NE27 0QJ
 

These financial statements were authorised for issue by the Board on 10 June 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The company's balance sheet at 31 March 2025 shows net current liabilities of £21,445 (2024 - net current liabilities of £3,405). The directors are commited to supporting the company and ensure it is able to meet its liabilities on a day to day basis, therefore the directors believe it is appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of applications 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 benefit will flow to the entity;
and specific criteria have been met for each of the company's activities.

Finance income and costs policy

Finance income and expenses are recognised using the effective interest method.

 

Sensecheck Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Development costs

The company has capitalised costs associated with the development and testing of its products if they fulfil the requirements of being technically feasible and will lead to future economic benefits. These development costs will be amortised once the product goes into commercial production over the period of its useful life.

Research costs are expensed to the profit and loss account when incurred.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. Amortisation is charged from the point at which the product becomes commercially available and reviewed regularly for impairment.

Asset class

Amortisation method and rate

Development costs

10 years straight line

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.

Debtors

Trade debtors are amounts due from customers for applications 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

Sensecheck Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2024 - 4).

4

Intangible assets

Software development costs
£

Total
£

Cost or valuation

At 1 April 2024

73,628

73,628

Additions

25,916

25,916

At 31 March 2025

99,544

99,544

Amortisation

At 1 April 2024

1,173

1,173

Amortisation charge

1,443

1,443

At 31 March 2025

2,616

2,616

Carrying amount

At 31 March 2025

96,928

96,928

At 31 March 2024

72,455

72,455

 

Sensecheck Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

2025
£

2024
£

Trade debtors

-

60

Other debtors

1,500

3,141

Prepayments

278

177

1,778

3,378

6

Creditors

Due within one year

Note

2025
£

2024
£

 

Loans and borrowings

8

5,829

6,099

Trade creditors

 

4,000

11,554

Amounts due to related parties

1,311

3,338

Other creditors

 

380

1,100

Accruals

 

29,682

38,908

 

41,202

60,999

Due after one year

 

Loans and borrowings

8

36,081

42,986

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary A of £0.01 each

159,215

796

149,626

748

Ordinary B of £0.01 each

20,000

100

20,000

100

Ordinary C of £0.01 each

20,000

100

20,000

100

Ordinary D of £0.01 each

20,000

100

20,000

100

Ordinary E of £0.01 each

20,000

100

20,000

100

239,215

1,196

229,626

1,148

During the period ended 31/03/2025 there was a bonus issue of Ordinary A shares.

9,589 shares were issued at the nominal value of £0.005 per share.

 

Sensecheck Technologies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Each share is entitled to one vote in any circumstances, is entitled to dividend payments or any other distribution and is entitled to participate in a distribution arising from a winding up of the company.

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

36,081

42,986

Current loans and borrowings

2025
£

2024
£

Bank borrowings

5,829

6,099

Bank borrowings

Bounce Back Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 21 January 2031. The carrying amount at year end is £41,910 (2024 - £49,085).