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Registered number: 14684360 STACKONE TECHNOLOGIES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
STACKONE TECHNOLOGIES LIMITED REGISTERED NUMBER: 14684360 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 1,534 |  | 2,574
Tangible assets | 5 |  | 24,461 |  | 10,753
|  |  | 25,995 |  | 13,327
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 291,247 |  | 10,180 |
Cash at bank and in hand | 7 | 1,282,339 |  | 2,572,583 |
|  | 1,573,586 |  | 2,582,763 |
Creditors: amounts falling due within one year | 8 | (214,177) |  | (48,616) |
Net current assets |  |  | 1,359,409 |  | 2,534,147
Total assets less current liabilities |  |  | 1,385,404 |  | 2,547,474
Net assets |  |  | 1,385,404 |  | 2,547,474
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 535 |  | 535
Share premium account |  |  | 3,240,790 |  | 3,240,790
Other reserves |  |  | 94,070 |  | -
Profit and loss account |  |  | (1,949,991) |  | (693,851)
|  |  | 1,385,404 |  | 2,547,474
Page 1
STACKONE TECHNOLOGIES LIMITED REGISTERED NUMBER: 14684360 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R J Sestier | G Lebedel
Director | Director
Date: 21 August 2025 |
The notes on pages 4 to 11 form part of these financial statements. Page 2
STACKONE TECHNOLOGIES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Share based payment reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2023 | 535 | 3,240,790 | - | - | 3,241,325
Loss for the year | - | - | - | (693,851) | (693,851)
At 1 January 2024 | 535 | 3,240,790 | - | (693,851) | 2,547,474
Loss for the year | - | - | - | (1,256,917) | (1,256,917)
Share based payment charge | - | - | 94,847 | - | 94,847
Transfer to/from profit and loss account | - | - | (777) | 777 | -
At 31 December 2024 | 535 | 3,240,790 | 94,070 | (1,949,991) | 1,385,404
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Stackone Technologies Ltd is a private company limited by share capital and incorporated in England and Wales. The registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, England, RG19 6AB. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 4
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
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.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 5
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.10 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Development expenditure | - | 3 | years
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 6
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% |
|  |  |  | Computer equipment | - | 33% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 7
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Employees | 13 | 5
4. | Intangible assets
|  | Webiste domain
|  | £
| Cost |
| At 1 January 2024 | 3,152
| At 31 December 2024 | 3,152
| Amortisation |
| At 1 January 2024 | 578
| Charge for the year on owned assets | 1,040
| At 31 December 2024 | 1,618
| Net book value |
| At 31 December 2024 | 1,534
| At 31 December 2023 | 2,574
Page 8
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Office equipment | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | - | 13,710 | 13,710
| Additions | 1,665 | 20,381 | 22,046
| At 31 December 2024 | 1,665 | 34,091 | 35,756
| Depreciation |  |  |
| At 1 January 2024 | - | 2,957 | 2,957
| Charge for the year on owned assets | 87 | 8,251 | 8,338
| At 31 December 2024 | 87 | 11,208 | 11,295
| Net book value |  |  |
| At 31 December 2024 | 1,578 | 22,883 | 24,461
| At 31 December 2023 | - | 10,753 | 10,753
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 268,445 | 3,770
| Other debtors | 7,194 | 6,410
| Prepayments and accrued income | 15,608 | -
|  | 291,247 | 10,180
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,282,339 | 2,572,583
|  | 1,282,339 | 2,572,583
Page 9
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 59,063 | 22,670
| Other taxation and social security | - | 17,494
| Other creditors | 6,481 | 1,495
| Accruals and deferred income | 148,633 | 6,957
|  | 214,177 | 48,616
Page 10
STACKONE TECHNOLOGIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Share-based payments
| The Company operates a share based payment scheme whereby the options are granted at the discretion of the Directors. The options are equity settled, vest at various dates through their term based on non-market conditions and have a maximum term of 5 years. The options are valued using the Black-Scholes model. The Company assesses the inputs into the Black-Scholes model using a range of company specific and market-based information using estimates and judgements that they consider to be appropriate.
|  | Weighted average exercise price (pence) 2024 | Number 2024 | Weighted average exercise price (pence) 2023 | Number 2023
| Granted during the year | 2.3471 | 2,506,300 |  | -
| Forfeited during the year | 0.0100 | (4,285) |  | -
| Outstanding at the end of the year | 2.3511 | 2,502,015 |  | -
| 216,024 options are exercisable at 31 December 2024 (2023: Nil).
|  |  |  |  | 2024 | 2023
| Option pricing model used | Black-Scholes |
| Weighted average share price (pence) | 20.84 - 29.15 |
| Exercise price (pence) | 0.0010 - 16.0000 |
| Weighted average contractual life (days) | 1,825 |
| Expected volatility | 45.67% - 47.51% |
| Risk-free interest rate | 3.48% - 4.339% |
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Equity-settled schemes | 94,847 | -
|  | 94,847 | -
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,829 (2023: £4,041). Contributions totalling £6,481 (2023: £1,495) were payable to the fund at the balance sheet date.
Page 11