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Registered number: 10970263
Kreo Software Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10970263
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,319,594 4,887,832
Tangible Assets 5 7,976 9,673
1,327,570 4,897,505
CURRENT ASSETS
Debtors 6 32,069 43,944
Cash at bank and in hand 304,823 159,547
336,892 203,491
Creditors: Amounts Falling Due Within One Year 7 (3,029,926 ) (5,426,243 )
NET CURRENT ASSETS (LIABILITIES) (2,693,034 ) (5,222,752 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,365,464 ) (325,247 )
NET LIABILITIES (1,365,464 ) (325,247 )
CAPITAL AND RESERVES
Called up share capital 8 1,195 1,195
Profit and Loss Account (1,366,659 ) (326,442 )
SHAREHOLDERS' FUNDS (1,365,464) (325,247)
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Magomed Galaev
Director
11th July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kreo Software Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10970263 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33.33% on cost
Computer Equipment 33.33% on cost
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 4,891,853
Disposals (3,424,297 )
As at 31 December 2024 1,467,556
Amortisation
As at 1 January 2024 4,021
Provided during the period 256,221
Disposals (112,280 )
As at 31 December 2024 147,962
Net Book Value
As at 31 December 2024 1,319,594
As at 1 January 2024 4,887,832
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 5,975 18,340 24,315
Additions - 2,649 2,649
As at 31 December 2024 5,975 20,989 26,964
Depreciation
As at 1 January 2024 5,975 8,667 14,642
Provided during the period - 4,346 4,346
As at 31 December 2024 5,975 13,013 18,988
Net Book Value
As at 31 December 2024 - 7,976 7,976
As at 1 January 2024 - 9,673 9,673
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,928 31,010
Other debtors 17,141 12,934
32,069 43,944
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,224 23,268
Other creditors 3,018,153 5,394,987
Taxation and social security 9,549 7,988
3,029,926 5,426,243
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,195 1,195
9. Ultimate Controlling Party
The company's ultimate controlling party is Magomed Galaev by virtue of his ownership of 84% of the issued share capital in the company.
10. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the director will continue to support the company for the foreseeable future. 
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