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PREDICTIS PROPERTY MANAGEMENT SYSTEM HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Predictis Property Management System Holdco Limited is a private company, limited by shares, and is incorporated in England and Wales (registered number: 15272463). The registered office address is Cedar House, 63 Napier Street, Sheffield, South Yorkshire, United Kingdom, S11 8HA. The principal activity for the Company in the year is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The Company holds significant liabilities due to loans undertaken as part of the acquisition of Uplisting Limited, both with the wider AirDNA Group ('the Group') and with the sellers of Uplisting Limited ('the Sellers'). The Company has received assurances from the Group that a demand for repayment of these intercompany balances will only be made if the Company has sufficient available resources to make the payment without prejudicing the ability of the Company to make other payments as and when they fall due. Amounts due to the Sellers fall due for payment in 2027.
As a result of these assurances, and following the preparation of profit and cash flow forecasts for at least the period to 31 December 2025, the directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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