Company registration number 11209129 (England and Wales)
DEPLOYED LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DEPLOYED LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DEPLOYED LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,761
21,942
Current assets
Debtors
4
168,845
166,241
Cash at bank and in hand
331,685
580,633
500,530
746,874
Creditors: amounts falling due within one year
5
(368,178)
(290,336)
Net current assets
132,352
456,538
Total assets less current liabilities
145,113
478,480
Creditors: amounts falling due after more than one year
6
(41,630)
(226,644)
Net assets
103,483
251,836
Capital and reserves
Called up share capital
8
193
193
Share premium account
3,320,321
3,317,788
Equity reserve
29,730
Profit and loss reserves
(3,246,761)
(3,066,145)
Total equity
103,483
251,836
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DEPLOYED LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Ms Kayleigh Kuptz
Director
Company Registration No. 11209129
DEPLOYED LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Deployed Limited is a private company limited by shares incorporated in England and Wales. The registered office is Athenia House, 10-14 Andover Road, Winchester, Hampshire, United Kingdom, SO23 7BS.
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 £.
1.2
Going concern
The company has encountered consecutive losses since incorporation. It has received significant funding from outside investors who have indicated their continued support.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods or services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% to 65% reducing balance or 2 to 3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
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.
DEPLOYED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
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.
Basic 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.
1.6
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
DEPLOYED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
12
12
3
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
43,030
Disposals
(4,625)
At 31 December 2024
38,405
Depreciation and impairment
At 1 January 2024
21,088
Depreciation charged in the year
9,181
Eliminated in respect of disposals
(4,625)
At 31 December 2024
25,644
Carrying amount
At 31 December 2024
12,761
At 31 December 2023
21,942
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,213
157,020
Corporation tax recoverable
147,529
Prepayments and accrued income
11,103
9,221
168,845
166,241
DEPLOYED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Convertible loans
70,270
Bank loans
8,000
8,000
Obligations under finance leases
3,014
5,829
Trade creditors
3,150
5,368
Taxation and social security
21,414
30,586
Deferred income
215,885
196,167
Other creditors
40,843
39,261
Accruals
5,602
5,125
368,178
290,336
The hire purchase loan is secured over the asset it is financing.
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
4,000
12,000
Obligations under finance leases
3,014
Other borrowings
24,380
24,380
Deferred income
13,250
187,250
41,630
226,644
The hire purchase loan is secured over the asset it is financing.
7
Share-based payment transactions
During the year the company operated a EMI and Non-Tax Favoured share option scheme for employees and non employee workers. The options vest over a varying period of time up to 4 years and can be exercised on an exit event, on leaving the company within 90 days or at the discretion of the directors. All unexercised options lapse after 10 years.
DEPLOYED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Share-based payment transactions
(Continued)
- 7 -
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 January 2024
37,727
3.20
Granted
41,914
3.20
Forfeited
3.25
3.21
Exercised
3.25
Outstanding at 31 December 2024
25,935
37,727
3.25
3.20
Exercisable at 31 December 2024
The fair value of the services received has been measured based on the fair value of the shares.
Liabilities and expenses
During the year, the company recognised total share-based payment expenses of £19,751 (2023: £78,246), which related to equity settled share based payment transactions.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 0.01p each
797
0
Seed Ordinary shares of 0.01p each
100,341
100,341
10
10
Ordinary A Shares of 0.01p each
1,005,000
1,005,000
101
101
Ordinary B shares of 0.01p each
230,720
230,720
23
23
1,336,858
1,336,061
134
134
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Seed preferred shares of 0.01p each
591,033
591,033
59
59
Preference shares classified as equity
59
59
Total equity share capital
193
193
During the year there were 2 separate issues of Ordinary shares with a nominal value 0.0001p each. 157 Ordinary shares were issued for £3.2252 each on 05 April 2024. 640 Ordinary shares were issued for £3.1663 each on 30 July 2024.