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REGISTERED NUMBER: 04026690 (England and Wales)


























Financial Statements

for the Year Ended 31 December 2024

for

Realwire Limited

Realwire Limited (Registered number: 04026690)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Realwire Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: E Gosling
G J F Gorman
G Schneider





REGISTERED OFFICE: 6 Stratton Street
London
W1J 8LD





REGISTERED NUMBER: 04026690 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Realwire Limited (Registered number: 04026690)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,981
Tangible assets 5 46 151
46 2,132

CURRENT ASSETS
Debtors 6 49,351 50,285
Cash at bank 18,150 18,890
67,501 69,175
CREDITORS
Amounts falling due within one year 7 118,998 108,781
NET CURRENT LIABILITIES (51,497 ) (39,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(51,451

)

(37,474

)

CAPITAL AND RESERVES
Called up share capital 8 8,827 8,827
Retained earnings (60,278 ) (46,301 )
SHAREHOLDERS' FUNDS (51,451 ) (37,474 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





G Schneider - Director


Realwire Limited (Registered number: 04026690)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Realwire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis due to the agreement of the related parties to continue to support the Company. If this support was not to continue then the basis may not be appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents gross invoiced provision of services, including value added tax, recognised as they are rendered.

Development costs
The development costs relate to the research and development of prototype software packages. Costs associated with research and development of the software packages are capitalised and are being amortised on a straight line basis of between 17% to 33%.

Domain name
The intangible asset relates to the purchase of a domain name, which is now fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office and computer equipment - 33.33% Straight line
Computer software - 33.33% Straight line

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Realwire Limited (Registered number: 04026690)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Devel Domain
costs name Totals
£    £    £   
COST
At 1 January 2024 104,728 40,527 145,255
Disposals (98,728 ) - (98,728 )
At 31 December 2024 6,000 40,527 46,527
AMORTISATION
At 1 January 2024 102,747 40,527 143,274
Amortisation for year 1,981 - 1,981
Eliminated on disposal (98,728 ) - (98,728 )
At 31 December 2024 6,000 40,527 46,527
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 1,981 - 1,981

Realwire Limited (Registered number: 04026690)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Office
and
computer Computer
equipment software Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 27,236 12,563 39,799
DEPRECIATION
At 1 January 2024 27,085 12,563 39,648
Charge for year 105 - 105
At 31 December 2024 27,190 12,563 39,753
NET BOOK VALUE
At 31 December 2024 46 - 46
At 31 December 2023 151 - 151

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 48,368 48,360
Other debtors 983 1,925
49,351 50,285

Amounts owed by group undertakings are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 96,520 86,119
Taxation and social security 14,045 14,328
Other creditors 8,433 8,334
118,998 108,781

Amounts owed to group undertakings are interest free and repayable on demand.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
832,721 Ordinary 1p 8,327 8,327
50,000 Ordinary A 1p 500 500
8,827 8,827

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

Realwire Limited (Registered number: 04026690)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued

Material Uncertainties Relating to Going Concern

We draw attention to Note 2 to the financial statements which explains that related parties will continue to support the Company. These events or conditions, indicate that a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the sections of this report.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Wilchap Realwire Limited.

The ultimate controlling party is Harwood Private Equity V LLP.