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REGISTERED NUMBER: 14616009 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

LATENT TECHNOLOGY LTD

LATENT TECHNOLOGY LTD (REGISTERED NUMBER: 14616009)

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


LATENT TECHNOLOGY LTD

Company Information
for the year ended 31 December 2024







Director: J Del Val Santos





Registered office: 9th Floor
107 Cheapside
London
EC2V 6DN





Registered number: 14616009 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

LATENT TECHNOLOGY LTD (REGISTERED NUMBER: 14616009)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 7,550 11,236

Current assets
Debtors 5 39,270 33,187
Cash at bank 38,585 398,549
77,855 431,736
Creditors
Amounts falling due within one year 6 1,170,791 666,092
Net current liabilities (1,092,936 ) (234,356 )
Total assets less current liabilities (1,085,386 ) (223,120 )

Capital and reserves
Called up share capital 8 50,000 50,000
Share premium 274,945 274,945
Other reserves 2,564 -
Retained earnings (1,412,895 ) (548,065 )
Shareholders' funds (1,085,386 ) (223,120 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 July 2025 and were signed by:





J Del Val Santos - Director


LATENT TECHNOLOGY LTD (REGISTERED NUMBER: 14616009)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

Latent Technology Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the financial statements.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating share based payments. Share based payments have been made to employees of the company. The fair value of any vested share options is recognised in the income statement. The fair value of share options is estimated using the Black-Scholes model. The fair value of the ordinary shares in issue at the date of granting the options is used as an input to the model.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


LATENT TECHNOLOGY LTD (REGISTERED NUMBER: 14616009)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 5 ) .

4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 January 2024 13,241
Additions 923
At 31 December 2024 14,164
Depreciation
At 1 January 2024 2,005
Charge for year 4,609
At 31 December 2024 6,614
Net book value
At 31 December 2024 7,550
At 31 December 2023 11,236

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 39,270 33,187

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,380 -
Amounts owed to group undertakings 1,134,353 649,937
Taxation and social security 35,054 16,155
Other creditors 4 -
1,170,791 666,092

LATENT TECHNOLOGY LTD (REGISTERED NUMBER: 14616009)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year - 56,000

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
5,000,000 Ordinary £0.001p 50,000 50,000

9. Share based payments

The company operates an EMI qualifying share option scheme and during the year the company granted 448,500 (2023: Nil) EMI qualifying share options to employees at an average weighted exercise price of £0.00001 per share (2023: £Nil). During the year 102,957 (2023: Nil) share options vested, Nil (2024: Nil) lapsed and Nil (2023: Nil) options were exercised. At the statement of financial position date 345,543 (2023: Nil) options had to vest. An amount of £2,564 (2023: Nil) has been charged to the income statement in respect of the EMI qualifying share options.