Registration number: 06661457

Transvault Software Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Transvault Software Limited

Company Information

Directors

Darwin Lee Jonathan Wood

Registered office

c/o JWB Corporate Ltd 22 Mulberry Avenue Portishead North Somerset BS20 7LG

Accountants

JWB Corporate Ltd 22 Mulberry Avenue Portishead North Somerset BS20 7LG

Transvault Software Limited

(Registration number: 06661457)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	10,760	8,952
Current assets
Debtors	6	1,388,868	1,381,549
Cash at bank and in hand		1,947,769	3,070,742
		3,336,637	4,452,291
Creditors: Amounts falling due within one year	7	(1,989,751)	(2,710,507)
Net current assets		1,346,886	1,741,784
Total assets less current liabilities		1,357,646	1,750,736
Provisions for liabilities		(8,890)	562
Net assets		1,348,756	1,751,298
Capital and reserves
Called up share capital		2	2
Retained earnings		1,348,754	1,751,296
Shareholders' funds		1,348,756	1,751,298

Transvault Software Limited

(Registration number: 06661457)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 September 2025 and signed on its behalf by:
 

......................................... Darwin Lee Director

Transvault Software Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
c/o JWB Corporate Ltd
22 Mulberry Avenue
Portishead
North Somerset
BS20 7LG
England

These financial statements were authorised for issue by the Board on 7 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Pounds Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have considered the past performance of the company, expected future trade and reserves held. The company has improved on its results from the previous year and continues to invest in research and development to ensure it is at the forefront of its industry. On this basis they are of the opinion that the company is a going concern.

Transvault Software Limited

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

Judgements

Key judgements are made in repsect of depreciation and amortisation rates as the use life of assets is most difficult to determine.

As explained in the revenue recognition accounting policy, management judges the licence fee income and bulk-buy data transfer services to be recognisable as revenue immediately, on the basis that all material associated costs of providing the licence have been incurred. No judgement is therefore made to estimate contract length.

Key sources of estimation uncertainty

The directors are of the opinion that the key sources of estimation uncertainty within the company relate to the amortisation periods of intangible fixed assets as the useful life is difficult to estimate with certainty. The directors undertake reviews each year to ensure the carrying value is appropriately recognised.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Revenue is comprised of three main sources, being consultancy, licences and bulk-buys.

Consultancy fees are billed in advance based on project milestones. Income is deferred at the year end when consultancy fees have been invoiced and the work has not yet been completed.

Licences fee income is credited to the profit and loss account immediately on the basis that the client is free to use the licence at any point in time to complete their project. There is no further cost incurred by the company in supporting the licence usage other than a trivial element of support.

On the occasion that significant and material data storage capabilities are purchased by clients under the bulk-buy licence, the associated income is released to the profit and loss account in full immediately on the basis there is an assignment of rights under a fixed fee that is non-refundable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Transvault Software Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office and computer equipment	25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software development costs	Depreciated in line with invoicing generated as a result of use of the intangible asset

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Transvault Software Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2023 - 26).

Transvault Software Limited

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

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 January 2024	626,992	626,992
At 31 December 2024	626,992	626,992
Amortisation
At 1 January 2024	626,992	626,992
At 31 December 2024	626,992	626,992
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	27,845	27,845
Additions	7,789	7,789
At 31 December 2024	35,634	35,634
Depreciation
At 1 January 2024	18,893	18,893
Charge for the year	5,981	5,981
At 31 December 2024	24,874	24,874
Carrying amount
At 31 December 2024	10,760	10,760
At 31 December 2023	8,952	8,952

Transvault Software Limited

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

6

Debtors

Current	Note	2024 £	2023 £
Trade debtors		885,140	1,041,432
Amounts owed by related parties	8	16,790	-
Prepayments		45,849	38,856
Other debtors		441,089	301,261
		1,388,868	1,381,549

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		51,524	44,463
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	1,040,791	1,690,552
Taxation and social security		279,690	151,894
Accruals and deferred income		606,134	813,822
Other creditors		11,612	9,776
		1,989,751	2,710,507

8	Related party transactions

The company has taken the exemption available under FRS 102 1AC.35 not to dislcose related party transactions that are concluded under normal market conditions.

Transvault Software Limited

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

9	Parent and ultimate parent undertaking

The company's immediate parent is Amplified Insights Limited, incorporated in England & Wales.

 The ultimate parent is Amplified Intelligence Ltd, incorporated in England & Wales.

 The ultimate controlling party is Darwin Lee.