Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr N M Albinhassan 24/10/2017 Mr D Banks 08/04/2025 Mr D R H Clegg 01/01/2021 Mr A C Garner 16/12/2020 Mr D Ross 07/04/2025 10 June 2025 The principal activity of the Company during the financial year was the provision of technology based information services. 09405147 2024-12-31 09405147 bus:Director1 2024-12-31 09405147 bus:Director2 2024-12-31 09405147 bus:Director3 2024-12-31 09405147 bus:Director4 2024-12-31 09405147 bus:Director5 2024-12-31 09405147 2023-12-31 09405147 core:CurrentFinancialInstruments 2024-12-31 09405147 core:CurrentFinancialInstruments 2023-12-31 09405147 core:Non-currentFinancialInstruments 2024-12-31 09405147 core:Non-currentFinancialInstruments 2023-12-31 09405147 core:ShareCapital 2024-12-31 09405147 core:ShareCapital 2023-12-31 09405147 core:SharePremium 2024-12-31 09405147 core:SharePremium 2023-12-31 09405147 core:RetainedEarningsAccumulatedLosses 2024-12-31 09405147 core:RetainedEarningsAccumulatedLosses 2023-12-31 09405147 core:ComputerSoftware 2023-12-31 09405147 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09405147 core:ComputerSoftware 2024-12-31 09405147 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 09405147 core:PlantMachinery 2023-12-31 09405147 core:OfficeEquipment 2023-12-31 09405147 core:ComputerEquipment 2023-12-31 09405147 core:PlantMachinery 2024-12-31 09405147 core:OfficeEquipment 2024-12-31 09405147 core:ComputerEquipment 2024-12-31 09405147 core:CurrentFinancialInstruments 10 2024-12-31 09405147 core:CurrentFinancialInstruments 10 2023-12-31 09405147 core:CurrentFinancialInstruments core:Secured 2024-12-31 09405147 bus:OrdinaryShareClass1 2024-12-31 09405147 core:WithinOneYear 2024-12-31 09405147 core:WithinOneYear 2023-12-31 09405147 core:BetweenOneFiveYears 2024-12-31 09405147 core:BetweenOneFiveYears 2023-12-31 09405147 2024-01-01 2024-12-31 09405147 bus:FilletedAccounts 2024-01-01 2024-12-31 09405147 bus:SmallEntities 2024-01-01 2024-12-31 09405147 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09405147 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09405147 bus:Director1 2024-01-01 2024-12-31 09405147 bus:Director2 2024-01-01 2024-12-31 09405147 bus:Director3 2024-01-01 2024-12-31 09405147 bus:Director4 2024-01-01 2024-12-31 09405147 bus:Director5 2024-01-01 2024-12-31 09405147 core:ComputerSoftware core:TopRangeValue 2024-01-01 2024-12-31 09405147 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 09405147 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 09405147 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 09405147 2023-01-01 2023-12-31 09405147 core:ComputerSoftware 2024-01-01 2024-12-31 09405147 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 09405147 core:PlantMachinery 2024-01-01 2024-12-31 09405147 core:OfficeEquipment 2024-01-01 2024-12-31 09405147 core:ComputerEquipment 2024-01-01 2024-12-31 09405147 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 09405147 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 09405147 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 09405147 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09405147 (England and Wales)

KLARIAN LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

KLARIAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

KLARIAN LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
KLARIAN LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 5,186,025 4,313,340
Tangible assets 4 1,360 2,695
5,187,385 4,316,035
Current assets
Debtors 5 268,195 383,818
Cash at bank and in hand 49,122 30,286
317,317 414,104
Creditors: amounts falling due within one year 6 ( 1,402,760) ( 940,725)
Net current liabilities (1,085,443) (526,621)
Total assets less current liabilities 4,101,942 3,789,414
Creditors: amounts falling due after more than one year 7 ( 1,368,653) ( 1,129,150)
Provision for liabilities 0 ( 1,071,998)
Net assets 2,733,289 1,588,266
Capital and reserves
Called-up share capital 8 4,755 4,429
Share premium account 5,811,181 5,077,606
Profit and loss account ( 3,082,647 ) ( 3,493,769 )
Total shareholders' funds 2,733,289 1,588,266

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Klarian Limited (registered number: 09405147) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

Mr D R H Clegg
Director
KLARIAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
KLARIAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Klarian Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is The George Parker Bidder Building, 4 Babbage Way, Exeter Science Park, Exeter, EX5 2FN.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £2,733,289. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate
probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis, over their useful economic
lives, which range from 3 to 6 years. The asset is to start to be amortised at the point the project begins to generate revenue.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 4 years straight line
Development costs not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Office equipment 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the updatedage and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 20

3. Intangible assets

Computer software Development costs Total
£ £ £
Cost
At 01 January 2024 19,036 4,313,340 4,332,376
Additions 0 872,685 872,685
At 31 December 2024 19,036 5,186,025 5,205,061
Accumulated amortisation
At 01 January 2024 19,036 0 19,036
At 31 December 2024 19,036 0 19,036
Net book value
At 31 December 2024 0 5,186,025 5,186,025
At 31 December 2023 0 4,313,340 4,313,340

4. Tangible assets

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 10,949 8,818 12,183 31,950
At 31 December 2024 10,949 8,818 12,183 31,950
Accumulated depreciation
At 01 January 2024 10,949 6,334 11,972 29,255
Charge for the financial year 0 1,139 196 1,335
At 31 December 2024 10,949 7,473 12,168 30,590
Net book value
At 31 December 2024 0 1,345 15 1,360
At 31 December 2023 0 2,484 211 2,695

5. Debtors

2024 2023
£ £
Trade debtors 28,593 90,417
Prepayments 12,545 13,299
VAT recoverable 5,496 16,440
Other taxation and social security 221,561 249,866
Other debtors 0 13,796
268,195 383,818

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 10,000 33,407
Trade creditors 338,785 218,226
Other loans (secured £ 200,440) 800,440 311,150
Accruals and deferred income 5,103 58,542
Other taxation and social security 171,178 269,230
Other creditors 77,254 50,170
1,402,760 940,725

Within "Other loans" there is an amount of £200,440 (2023: £311,150) which is secured by a fixed and floating charge over the tangible assets and intellectual property of the company.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,457 16,527
Amounts owed to directors 289,368 99,567
Other loans (secured) 280,873 289,313
Other creditors 791,955 723,743
1,368,653 1,129,150

Other loans consist of £280,873 (2023: £192,000) which is secured by a fixed and floating charge over the tangible assets and intellectual property of the company.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
475,543 Ordinary shares of £ 0.01 each (2023: 442,870 shares of £ 0.01 each) 4,755 4,429

On 2 January 2024, 3,270 Ordinary shares of £0.01 each were issued for a consideration of £74,981.
On 1 August 2024, 15,171 Ordinary shares of £0.01 each were issued for a consideration of £339,982
On 28 September 2024, 11,155 Ordinary shares of £0.01 each were issued for a consideration of £249,983
On 19 November 2024, 3,077 Ordinary shares of £0.01 each were issued for a consideration of £68,955.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 31,733 36,766
between one and five years 0 31,733
31,733 68,499

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 6,915 4,273

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to the directors 289,368 99,567

Interest has been charged where an agreement is in place and there are no set repayment terms.