ACCOUNTS - Final Accounts preparation

Registered number: 14185589

VERIDATA INSIGHTS (UK) LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 20 DECEMBER 2024

VERIDATA INSIGHTS (UK) LTD

REGISTERED NUMBER: 14185589

BALANCE SHEET

AS AT 20 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		790		-
Tangible assets	5		3,436		3,818
			4,226		3,818
Current assets
Debtors: amounts falling due within one year	6	4,909		4,858
Cash at bank and in hand	7	35,714		28,115
		40,623		32,973
Creditors: amounts falling due within one year	8	(31,875)		(248,462)
Net current assets/(liabilities)			8,748		(215,489)
Total assets less current liabilities			12,974		(211,671)

Net assets/(liabilities)			12,974		(211,671)

Capital and reserves
Called up share capital	100	100
Profit and loss account	12,874	(211,771)
	12,974	(211,671)

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VERIDATA INSIGHTS (UK) LTD

REGISTERED NUMBER: 14185589

BALANCE SHEET (CONTINUED)

AS AT 20 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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:

Thomas Roy Littlejohn

Director

Date: 9 September 2025

The notes on pages 3 to 7 form part of these financial statements.

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VERIDATA INSIGHTS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

1.	General information

The company is a private company limited by shares, registered in England.The financial statements have
been prepared in accordance with the provisions applicable to companies subject to the small companies'
regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 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:

2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

2.3

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.

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VERIDATA INSIGHTS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

2.Accounting policies (continued)

2.4

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.

2.5

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.

2.6

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

10%

Reducing Balance

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.

2.7

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.

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VERIDATA INSIGHTS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

2.Accounting policies (continued)

2.8

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.

2.9

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.

3.	Employees
		2024
		£

	Wages and salaries	195,024
	Social security costs	16,906
	Cost of defined contribution scheme	3,078
		215,008

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

4.	Intangible assets

		Patents
		k
	Cost
	Additions	790
	At 20 December 2024	790

	Net book value
	At 20 December 2024	790

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VERIDATA INSIGHTS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 21 December 2023	4,242
	At 20 December 2024	4,242
	Depreciation
	At 21 December 2023	424
	Charge for the year on owned assets	382
	At 20 December 2024	806
	Net book value
	At 20 December 2024	3,436
	At 20 December 2023	3,817

Debtors

					2024	2023
					£	£


Other debtor	100	100
Prepayment	4,623	4,623
VAT repayable	186	135
	4,909	4,858

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VERIDATA INSIGHTS (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

7.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	35,714	28,115
	35,714	28,115

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other creditors	-	229,246
Corporation tax	2,252	-
PAYE/NI control	9,655	5,121
Pension fund	619	540
Wages and Salaries	16,659	10,865
Accruals	2,690	2,690
	31,875	248,462

9.	Related party transactions
	The company charged £458,788 to Veridata Insights USA, in which a director of Veridata Insights (UK) Ltd has an interest.

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