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Financial Statements |
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Contents |
Page |
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Strategic report |
1 |
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Directors' report |
3 |
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Independent auditor's report to the members |
6 |
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Consolidated statement of comprehensive income |
10 |
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Consolidated statement of financial position |
11 |
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Company statement of financial position |
12 |
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Consolidated statement of changes in equity |
13 |
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Company statement of changes in equity |
14 |
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Consolidated statement of cash flows |
15 |
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Notes to the financial statements |
16 |
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Strategic Report |
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Director |
Director |
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Registered office: |
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Directors' Report |
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(Appointed
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(Appointed
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(Appointed
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(Appointed
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Unit |
31 Dec 24 |
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Total energy consumption |
kWh |
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--------- |
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Director |
Director |
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Registered office: |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered accountants & statutory auditor |
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22 Great Victoria Street |
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Belfast |
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BT2 7BA |
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Consolidated Statement of Comprehensive Income |
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Period from |
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21 May 24 to |
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31 Dec 24 |
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Note |
£ |
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Turnover |
4 |
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Cost of sales |
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------------- |
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Gross profit |
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Administrative expenses |
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------------ |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Amounts written off investments |
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Interest payable and similar expenses |
10 |
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------------ |
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Loss before taxation |
(
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Tax on loss |
11 |
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--------- |
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Loss for the financial period and total comprehensive income |
(
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--------- |
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Consolidated Statement of Financial Position |
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31 Dec 24 |
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Note |
£ |
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Intangible assets |
12 |
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Tangible assets |
13 |
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------------- |
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Debtors |
15 |
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Cash at bank and in hand |
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------------- |
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Creditors: amounts falling due within one year |
16 |
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Net current liabilities |
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------------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
17 |
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Provisions |
19 |
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Net assets |
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------------ |
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Called up share capital |
22 |
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Share premium account |
23 |
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Profit and loss account |
23 |
(
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------------ |
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Shareholders funds |
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------------ |
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Director |
Director |
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Company Statement of Financial Position |
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31 Dec 24 |
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Note |
£ |
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Investments |
14 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
16 |
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Net current liabilities |
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------------- |
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Total assets less current liabilities |
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------------ |
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Net assets |
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------------ |
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Called up share capital |
22 |
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Share premium account |
23 |
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Profit and loss account |
23 |
(
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------------ |
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Shareholders funds |
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------------ |
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Director |
Director |
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Consolidated Statement of Changes in Equity |
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Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 21 May 2024 |
– |
– |
– |
– |
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Loss for the period |
(
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(
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||
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---- |
---- |
--------- |
--------- |
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Total comprehensive income for the period |
– |
– |
(
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(
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Issue of shares |
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– |
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---- |
------------ |
---- |
------------ |
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Total investments by and distributions to owners |
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– |
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---- |
------------ |
--------- |
------------ |
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At 31 December 2024 |
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(
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---- |
------------ |
--------- |
------------ |
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Company Statement of Changes in Equity |
|
Called up share capital |
Share premium account |
Profit and loss account |
Total |
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|
£ |
£ |
£ |
£ |
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At 21 May 2024 |
– |
– |
– |
– |
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Loss for the period |
(
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(
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---- |
---- |
--------- |
--------- |
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Total comprehensive income for the period |
– |
– |
(
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(
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Issue of shares |
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– |
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---- |
------------ |
---- |
------------ |
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Total investments by and distributions to owners |
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– |
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---- |
------------ |
--------- |
------------ |
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At 31 December 2024 |
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(
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---- |
------------ |
--------- |
------------ |
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Consolidated Statement of Cash Flows |
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31 Dec 24 |
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£ |
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Loss for the financial period |
(
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Adjustments for: |
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Depreciation of tangible assets |
94,816 |
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Amortisation of intangible assets |
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Other interest receivable and similar income |
(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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Tax on loss |
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Accrued expenses |
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Changes in: |
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Trade and other debtors |
(
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Trade and other creditors |
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------------- |
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Cash generated from operations |
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Interest paid |
(
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Interest received |
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Tax received |
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------------- |
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Net cash from operating activities |
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------------- |
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Purchase of tangible assets |
(
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Proceeds from sale of tangible assets |
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Purchase of intangible assets |
(
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------------- |
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Net cash used in investing activities |
(
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------------- |
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Proceeds from issue of ordinary shares |
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Proceeds from loans from group undertakings |
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Payments of finance lease liabilities |
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------------- |
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Net cash from financing activities |
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------------- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of period |
– |
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------------ |
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Cash and cash equivalents at end of period |
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------------ |
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Notes to the Financial Statements |
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Goodwill |
- |
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Software development |
- |
20
%
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Alterations to property |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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Period from |
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21 May 24 to |
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31 Dec 24 |
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£ |
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Rendering of services |
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|
------------- |
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Period from |
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21 May 24 to |
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31 Dec 24 |
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£ |
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|
United Kingdom |
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Overseas |
|
|
------------- |
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------------- |
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Period from |
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21 May 24 to |
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31 Dec 24 |
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£ |
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Amortisation of intangible assets |
|
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Depreciation of tangible assets |
|
|
Gains on disposal of tangible assets |
(
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Impairment of trade debtors |
(716) |
|
Foreign exchange differences |
|
|
--------- |
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Period from |
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21 May 24 to |
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31 Dec 24 |
|
|
£ |
|
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Fees payable for the audit of the financial statements |
|
|
-------- |
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31 Dec 24 |
|
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No. |
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Administrative staff |
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Care staff |
|
|
------- |
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|
------- |
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Period from |
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21 May 24 to |
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31 Dec 24 |
|
|
£ |
|
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Wages and salaries |
|
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Social security costs |
|
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Other pension costs |
|
|
------------- |
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|
------------- |
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Period from |
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21 May 24 to |
|
|
31 Dec 24 |
|
|
£ |
|
|
Remuneration |
|
|
-------- |
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Period from |
|
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21 May 24 to |
|
|
31 Dec 24 |
|
|
£ |
|
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Interest receivable |
|
|
---- |
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Period from |
|
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21 May 24 to |
|
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31 Dec 24 |
|
|
£ |
|
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Interest payable |
|
|
Other interest payable and similar charges |
|
|
--------- |
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|
--------- |
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Period from |
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21 May 24 to |
|
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31 Dec 24 |
|
|
£ |
|
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UK current tax income |
|
|
Adjustments in respect of prior periods |
(
|
|
--------- |
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Total current tax |
|
|
--------- |
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Origination and reversal of timing differences |
|
|
Impact of change in tax rate |
(
|
|
--------- |
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Total deferred tax |
|
|
--------- |
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Tax on loss |
|
|
--------- |
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Period from |
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21 May 24 to |
|
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31 Dec 24 |
|
|
£ |
|
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Loss on ordinary activities before taxation |
(
|
|
-------- |
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Loss on ordinary activities by rate of tax |
(
|
|
Adjustment to tax charge in respect of prior periods |
(22,050) |
|
Effect of expenses not deductible for tax purposes |
|
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Effect of capital allowances and depreciation |
(
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Effect of different UK tax rates on some earnings |
(43,696) |
|
Utilisation of tax losses |
(
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Effect of amortisation of goodwill |
|
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Effect of group relief |
880,264
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Deferred tax |
11,053
|
|
--------- |
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Tax on loss |
|
|
--------- |
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Group |
Goodwill |
Software development |
Total |
|
£ |
£ |
£ |
|
|
Cost |
|||
|
At 21 May 2024 |
– |
– |
– |
|
Additions |
|
|
|
|
------------- |
--------- |
------------- |
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At 31 December 2024 |
|
|
|
|
------------- |
--------- |
------------- |
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Amortisation |
|||
|
At 21 May 2024 |
– |
– |
– |
|
Charge for the Period |
|
|
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|
------------- |
--------- |
------------- |
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At 31 December 2024 |
|
|
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|
------------- |
--------- |
------------- |
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Carrying amount |
|||
|
At 31 December 2024 |
|
|
|
|
------------- |
--------- |
------------- |
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Group |
Freehold property |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|||||
|
At 21 May 2024 |
– |
– |
– |
– |
– |
|
Additions |
|
|
|
|
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|
Revaluations |
(
|
(
|
– |
(
|
(
|
|
-------- |
-------- |
--------- |
--------- |
--------- |
|
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At 31 December 2024 |
|
|
|
|
|
|
-------- |
-------- |
--------- |
--------- |
--------- |
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Depreciation |
|||||
|
At 21 May 2024 |
– |
– |
– |
– |
– |
|
Charge for the period |
|
|
|
|
|
|
Revaluations |
(
|
(
|
– |
(
|
(
|
|
-------- |
-------- |
--------- |
--------- |
--------- |
|
|
At 31 December 2024 |
|
|
|
|
|
|
-------- |
-------- |
--------- |
--------- |
--------- |
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|
Carrying amount |
|||||
|
At 31 December 2024 |
|
|
|
|
|
|
-------- |
-------- |
--------- |
--------- |
--------- |
|
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Group |
Shares in group undertakings |
|
£ |
|
|
Cost |
|
|
At 21 May 2024 |
– |
|
Other movements |
|
|
--------- |
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At 31 December 2024 |
|
|
--------- |
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Impairment |
|
|
At 21 May 2024 |
– |
|
Other movements |
|
|
--------- |
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At 31 December 2024 |
|
|
--------- |
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Carrying amount |
|
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At 31 December 2024 |
– |
|
--------- |
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Company |
Shares in group undertakings |
|
£ |
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|
Cost |
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At 21 May 2024 |
– |
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Additions |
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|
------------- |
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At 31 December 2024 |
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|
------------- |
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Impairment |
|
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At 21 May 2024 and 31 December 2024 |
– |
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------------- |
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Carrying amount |
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At 31 December 2024 |
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------------- |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
|||
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3b Boucher Business Studios |
Ordinary |
100 |
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Glenmachan Place |
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Belfast |
|||
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BT12 6QH |
|||
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3b Boucher Business Studios |
Ordinary |
100 |
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Glenmachan Place |
|||
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Belfast |
|||
|
BT12 6QH |
|||
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|
Unit 3, First floor, Block 3 |
Ordinary |
100 |
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Belgard Road |
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Tallaght |
|||
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Dublin 4 |
|||
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3b Boucher Business Studios |
Ordinary |
100 |
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Glenmachan Place |
|||
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Belfast |
|||
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BT12 6QH |
|||
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Unit 3, First floor, Block 3 |
Ordinary |
100 |
|
Belgard Road |
|||
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Tallaght |
|||
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Dublin 4 |
|||
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Group |
Company |
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31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Trade debtors |
|
– |
|
Prepayments and accrued income |
|
– |
|
Directors loan account |
|
– |
|
Other debtors |
|
– |
|
------------ |
---- |
|
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|
– |
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|
------------ |
---- |
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Group |
Company |
|
|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Trade creditors |
|
– |
|
Amounts owed to group undertakings |
|
|
|
Accruals and deferred income |
|
|
|
Corporation tax |
|
– |
|
Social security and other taxes |
|
|
|
Obligations under finance leases and hire purchase contracts |
|
– |
|
Other creditors |
|
|
|
------------- |
------------- |
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|
------------- |
------------- |
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Group |
Company |
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|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Obligations under finance leases and hire purchase contracts |
|
– |
|
--------- |
---- |
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Group |
Company |
|
|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
– |
|
Later than 1 year and not later than 5 years |
|
– |
|
--------- |
---- |
|
|
|
– |
|
|
--------- |
---- |
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|
Group |
Deferred tax (note 20) |
|
£ |
|
|
At 21 May 2024 |
– |
|
Additions |
|
|
-------- |
|
|
At 31 December 2024 |
|
|
-------- |
|
|
Group |
Company |
|
|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Included in provisions (note 19) |
|
– |
|
-------- |
---- |
|
|
Group |
Company |
|
|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Accelerated capital allowances |
|
– |
|
-------- |
---- |
|
|
31 Dec 24 |
||
|
No. |
||
|
|
|
108 |
|
--------- |
---- |
|
|
At 21 May 2024 |
Cash flows |
At 31 Dec 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
– |
3,053,063 |
|
|
---- |
------------ |
------------ |
|
|
Group |
Company |
|
|
31 Dec 24 |
31 Dec 24 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
– |
|
Later than 1 year and not later than 5 years |
|
– |
|
--------- |
---- |
|
|
|
– |
|
|
--------- |
---- |
|
|
31 Dec 24 |
||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
|
£ |
£ |
£ |
||
|
|
– |
|
|
|
|
---- |
------- |
------- |
||