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REGISTERED NUMBER: 10591395 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Intellegens Limited

Intellegens Limited (Registered number: 10591395)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Intellegens Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Dr G J Conduit
Mr B Pellegrini
Mr G R Snudden





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 10591395 (England and Wales)

Intellegens Limited (Registered number: 10591395)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,860 20,363

CURRENT ASSETS
Debtors 6 487,795 502,111
Cash at bank 750,194 648,330
1,237,989 1,150,441
CREDITORS
Amounts falling due within one year 7 813,503 712,223
NET CURRENT ASSETS 424,486 438,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,346

458,581

PROVISIONS FOR LIABILITIES 2,443 3,869
NET ASSETS 434,903 454,712

CAPITAL AND RESERVES
Called up share capital 92 92
Share premium 721,569 721,569
Other reserves 1,527 1,616
Equity SAFE 100,000 100,000
Retained earnings (388,285 ) (368,565 )
434,903 454,712

Intellegens Limited (Registered number: 10591395)

Balance Sheet - continued
31 December 2024


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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





Mr B Pellegrini - Director


Intellegens Limited (Registered number: 10591395)

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


1. STATUTORY INFORMATION

Intellegens 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


Intellegens Limited (Registered number: 10591395)

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


3. ACCOUNTING POLICIES - continued
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.

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.

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


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.

Simple agreements for future equity (safe notes)
On initial recognition, simple agreements for future equity (SAFE notes) are recognised as an equity instrument at the fair value of consideration received.

The equity instrument is subsequently measured at the fair value of consideration received.

Share options
Intellegens Limited operates an EMI share scheme, employees that successfully complete their probation period are invited to participate in the long term incentive scheme. Vesting conditions include that the employees remain in employment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 27 ) .

Intellegens Limited (Registered number: 10591395)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 47,700
Additions 3,535
Disposals (7,406 )
At 31 December 2024 43,829
DEPRECIATION
At 1 January 2024 27,337
Charge for year 10,771
Eliminated on disposal (7,139 )
At 31 December 2024 30,969
NET BOOK VALUE
At 31 December 2024 12,860
At 31 December 2023 20,363

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 242,966 236,261
Other debtors 244,829 265,850
487,795 502,111

Other debtors consists of prepayments of £18,449 (2023 - £35,986), accrued income of £35,486 (2023 - £23,347) corporation tax recoverable of £61,001 (2023 - £92,500), notional tax recoverable of £46,065 (2023 - £30,344), VAT recoverable of £13,744 (2023 - £12,773) and intercompany loan of £70,084 (2023 - £70,900).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,073 20,478
Taxation and social security 25,803 37,952
Other creditors 768,627 653,793
813,503 712,223

Other creditors consists of accrued expenses of £75,481 (2023 - £67,552), income received in advance of £675,524 (2023 - £561,135), Credit card of £8,240 (2023 - £14,147), Directors loan account of £1,872 (2023 - £1,560) and other creditors of £7,510 (2023 - £9,399).

Intellegens Limited (Registered number: 10591395)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 123,405 123,405
Between one and five years - 123,405
123,405 246,810

9. OTHER RESERVES

The other reserve represents the expense calculated regarding the share options issued during the year.

10. SIMPLE AGREEMENT FOR FUTURE EQUITY

On 23 January 2020, the company issued a simple agreement for future equity (SAFE note) totalling £100,000.

During the year, there was no event which gave rise to a conversion of Ordinary shares in the company (2023 - no event).

The SAFE note carries no interest.

At the year end, the fair value of the SAFE note was £100,000 (2023 - £100,000) and recognised within equity.

11. EMPLOYMENT RELATED SECURITIES

The company operates an Employment Related Securities Scheme under the Employment Management Incentives rules (EMI).

During the year there were 7,249,972 EMI options granted (2023 - 1,776,331) over the Ordinary shares of the Company. They are all exercisable at £0.0001 (2023 - £0.0001) per option share.

During the year, 1,973,676 options lapsed (2023 - 2,763,145) and no options were exercised (2023 - none).