| Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities, excluding VAT and other sales-related taxes. The Company recognises revenue in accordance with Section 23 of FRS 102, based on the stage of completion of the transaction at the reporting date, provided that the outcome of the transaction can be estimated reliably.
Revenue is only recognised when the following conditions are satisfied:
- The amount of revenue can be measured reliably;
- It is probable that the economic benefits will flow to the Company;
- The stage of completion can be measured reliably;
- The costs incurred and the costs to complete the transaction can be measured reliably.
Revenue from user subscriptions and platform access is recognised over the term of the subscription on a straight-line basis, reflecting the delivery of service over time. Feature services are recognised based on the stage of completion at the reporting date, measured using time incurred, delivery milestones, or
technical delivery progress. Revenue from onboarding or configuration fees is recognised over the expected customer relationship period, where it forms part of the ongoing service performance obligation. Any transaction or processing fees retained are recognised upon transaction completion; chargebacks or platform fees are netted accordingly. |