BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company consists of the sale, maintenance and development of computer software systems. 16 September 2025 06959816 2024-12-31 06959816 2023-12-31 06959816 2022-12-31 06959816 2024-01-01 2024-12-31 06959816 2023-01-01 2023-12-31 06959816 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06959816 uk-curr:PoundSterling 2024-01-01 2024-12-31 06959816 uk-bus:AbridgedAccounts 2024-01-01 2024-12-31 06959816 uk-bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 06959816 uk-bus:Director2 2024-01-01 2024-12-31 06959816 uk-bus:Director3 2024-01-01 2024-12-31 06959816 uk-bus:Director4 2024-01-01 2024-12-31 06959816 uk-bus:Director5 2024-01-01 2024-12-31 06959816 uk-bus:Director6 2024-01-01 2024-12-31 06959816 uk-bus:Director7 2024-01-01 2024-12-31 06959816 uk-bus:CompanySecretary1 2024-01-01 2024-12-31 06959816 uk-bus:RegisteredOffice 2024-01-01 2024-12-31 06959816 uk-bus:Agent1 2024-01-01 2024-12-31 06959816 uk-bus:Audited 2024-01-01 2024-12-31 06959816 uk-core:ShareCapital 2024-12-31 06959816 uk-core:ShareCapital 2023-12-31 06959816 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 06959816 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 06959816 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 06959816 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 06959816 uk-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06959816 uk-bus:FRS102 2024-01-01 2024-12-31 06959816 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-01-01 2024-12-31 06959816 uk-core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 06959816 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 06959816 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 06959816 uk-countries:Ireland 2024-01-01 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: 06959816

Capricorn Ventis Limited

Abridged Financial Statements

for the financial year ended 31 December 2024

Capricorn Ventis Limited

DIRECTORS AND OTHER INFORMATION

Directors | John Glennane
| Michael Hawkes
| Brian O'Flynn
| Donal McKeagney (Appointed 10 July 2024)
| Derek Grogan (Resigned 13 February 2024)
| Dominick Glennane (Resigned 10 July 2024)
| Patrick Caslin (Resigned 10 July 2024)
Company Secretary | John Glennane
Company Registration Number | 06959816
Registered Office and Business Address | M-Sparc
| Menai Science Park
| Gaerwen
| Anglesey
| LL60 6AG
| United Kingdom
Independent Auditors | TGS Ireland GBW
| Westmoreland House
| Westmoreland Park
| Ranelagh
| Dublin 6
| Ireland
Bankers | Barclays Bank PLC
| 1 Churchill Place
| Leicesterhire
| LE87 2BB
| United Kingdom
| AIB
| Birmingham City Office
| 61 Temple Row
| Birmingham
| B2 5LT
| United Kingdom
Solicitors | Richard Joyce
| 18 Main Street
| Arklow
| Wicklow
| Ireland

Capricorn Ventis Limited

DIRECTORS' REPORT

for the financial year ended 31 December 2024

The directors present their report and the audited financial statements for the financial year ended 31 December 2024.

Principal Activity

The principal activity of the company consists of the sale, maintenance and development of computer software systems.

Results and Dividends

The profit/(loss) for the financial year after providing for depreciation and taxation amounted to £79,450 (2023 - £(20,016)).

Directors

The directors who served during the financial year are as follows:

John Glennane

Michael Hawkes

Brian O'Flynn

Donal McKeagney (Appointed 10 July 2024)

Derek Grogan (Resigned 13 February 2024)

Dominick Glennane (Resigned 10 July 2024)

Patrick Caslin (Resigned 10 July 2024)

There were no changes in shareholdings between 31 December 2024 and the date of signing the financial statements.

In accordance with the Articles of Association, the directors retire by rotation and, being eligible, offer themselves for re-election.

Charitable and political contributions

The company did not make any disclosable political donations in the current financial year.

Auditors

The auditors, TGS Ireland GBW have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Small Companies Exemption

The entity has availed of the small companies exemption contained in the Companies Act 2006 with regards to the requirements for exclusion of certain information in the directors' report.

Registered Number

The registered number of the company is 06959816.

Statement on Relevant Audit Information

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information, being information needed by the auditor in connection with preparing its report, of which the auditor is unaware. Each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the auditor is aware of that information.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________ | ___________________________
John Glennane | Donal McKeagney
Director | Director
16 September 2025 | 16 September 2025

Capricorn Ventis Limited

STATEMENT OF DIRECTORS' RESPONSIBILITIES

for the financial year ended 31 December 2024

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: -select suitable accounting policies and apply them consistently; -make judgements and accounting estimates that are reasonable and prudent; -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor Each persons who are directors at the date of approval of this report confirms that: -there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and -the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
On behalf of the board

___________________________ | ___________________________
John Glennane | Donal McKeagney
Director | Director
16 September 2025 | 16 September 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Capricorn Ventis Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Capricorn Ventis Limited ('the company') for the financial year ended 31 December 2024 which comprise the Abridged Income Statement, the Abridged Statement of Financial Position, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements: -give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the financial year then ended; -have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the Provisions Available for Audits of Small Entities, in the circumstances set out in Note 3 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- | the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept; or
- | the financial statements are not in agreement with the accounting records and returns; or
- | certain disclosures of directors' remuneration specified by law are not made; or
- | we have not received all the information and explanations we require for our audit; or
- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.

Responsibilities of directors for the financial statements

As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are the Companies Act 2006, Financial Reporting Standards and UK tax legislation. - We understood how the company is complying with those frameworks by through inquiries with the management and those responsible for legal and compliance matters. We also reviewed the minutes of Board of Directors and gained an understanding of the company's governance framework. We understood the nature of the company's regulatory permissions, its business activities and understood the regulatory control environment in which it operates. - We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by considering the controls established to address the risks identified by the entity, or that otherwise seek to prevent, deter or detect fraud. This included assessing the impact of remote working due to COVID-19. Our procedures to address the risks identified also included incorporation of unpredictability into the nature, timing, and/or extent of our testing, challenging assumptions and judgements made by management in their significant accounting estimates. - Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved inquiries of legal counsel, the management and focused testing. We confirmed with management that there was no regulatory correspondence during the year. - The Senior Statutory Auditor considered the experience and expertise of the audit engagement team, to ensure that the team had the appropriate competence and capabilities.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

__________________________________

David Gillett FCCA (Senior Statutory Auditor)

for and on behalf of

TGS IRELAND GBW

Statutory Auditors

Westmoreland House

Westmoreland Park

Ranelagh

Dublin 6

Ireland

16 September 2025

Capricorn Ventis Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- | Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

- | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Capricorn Ventis Limited

ABRIDGED INCOME STATEMENT

for the financial year ended 31 December 2024

|  | 2024 |  | 2023
| Notes | £ |  | £

Gross profit |  | 796,258 |  | 904,879
Administrative expenses |  | (785,963) |  | (924,895)
|  | ───────── |  | ─────────
Profit/(loss) before taxation |  | 10,295 |  | (20,016)
Tax on profit/(loss) |  | 69,155 |  | -
|  | ───────── |  | ─────────
Profit/(loss) for the financial year |  | 79,450 |  | (20,016)
|  | ───────── |  | ─────────
Total comprehensive income |  | 79,450 |  | (20,016)
|  | ═════════ |  | ═════════

Capricorn Ventis Limited

Company Registration Number: 06959816

ABRIDGED STATEMENT OF FINANCIAL POSITION

as at 31 December 2024

|  |  | 2024 |  | 2023
|  | Notes | £ |  | £
Non-Current Assets

Intangible assets |  | 5 | 160,245 |  | -
Property, plant and equipment |  | 6 | 5,642 |  | 11,571
|  |  | ───────── |  | ─────────
Non-Current Assets |  |  | 165,887 |  | 11,571
|  |  | ───────── |  | ─────────
Current Assets

Receivables |  |  | 837,832 |  | 609,445
Cash and cash equivalents |  |  | 298,367 |  | 350,261
|  |  | ───────── |  | ─────────
|  |  | 1,136,199 |  | 959,706
|  |  | ───────── |  | ─────────
Payables: amounts falling due within one year |  |  | (1,117,158) |  | (1,033,260)
|  |  | ───────── |  | ─────────
Net Current Assets/(Liabilities) |  |  | 19,041 |  | (73,554)
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 184,928 |  | (61,983)
Payables:

amounts falling due after more than one year |  |  | (4,558) |  | -
Provisions for liabilities |  |  | - |  | 162,903
|  |  | ───────── |  | ─────────
Net Assets |  |  | 180,370 |  | 100,920
|  |  | ═════════ |  | ═════════
Equity

Called up share capital |  |  | 1 |  | 1
Retained earnings |  |  | 180,369 |  | 100,919
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 180,370 |  | 100,920
|  |  | ═════════ |  | ═════════
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).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

Approved by the Board and authorised for issue on 16 September 2025 and signed on its behalf by

________________________________ |  |  | ________________________________
John Glennane |  |  | Donal McKeagney
Director |  |  | Director

Capricorn Ventis Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2024

| Called up | Retained | Total
| share | earnings |
| capital |  |
| £ | £ | £
At 1 January 2023 | 1 | 120,935 | 120,936
| ───────── | ───────── | ─────────
Loss for the financial year | - | (20,016) | (20,016)
| ───────── | ───────── | ─────────
At 31 December 2023 | 1 | 100,919 | 100,920
| ───────── | ───────── | ─────────
Profit for the financial year | - | 79,450 | 79,450
| ───────── | ───────── | ─────────
At 31 December 2024 | 1 | 180,369 | 180,370
| ═════════ | ═════════ | ═════════

Capricorn Ventis Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

1. | General Information
| Capricorn Ventis Limited is a company limited by shares incorporated in the United Kingdom. The registered office of the company is M-Sparc, Menai Science Park, Gaerwen, Anglesey, LL60 6AG, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Revenue
| Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue comprises the fair value of consideration received and receivable exclusive of value added tax and after discounts and rebates. Revenue from the provision of services is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.
| Related parties
| For the purposes of these financial statements a party is considered to be related to the company if: -The party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company; -The company and the party are subject to common control; -The party is an associate of the company or forms part of a joint venture with the company; -The party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals; -The party is a close family member of a party referred to above or is an entity under the control or significant influence of such individual; or -The party is a post-employment benefit plan which is for the benefit of employees of the company or of any that is a related party of the company
| Cash flow statement exemption
| The company has availed of the exemption contained in Section 1A of FRS 102 and as a result have elected not to prepare a cash flow statement.
| Intangible assets
| Intangible assets are valued at cost less accumulated amortisation.
| Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 0 years.
| Property, plant and equipment and depreciation
| Tangible fixed assets are recorded at historical cost or deemed cost, less accumulated depreciation and impairment losses. Cost includes prime cost and overheads.
|  | Office & Computer Equipment | - | 33.33% Straight line
| Depreciation is provided on plant and equipment, on a straight-line basis, so as to write off their cost less residual amounts over their estimated useful economic lives. The company’s policy is to review the remaining useful economic lives and residual values of plant and equipment on an on-going basis and to adjust the depreciation charge to reflect the remaining estimated useful economic life and residual value. Fully depreciated property, plant & equipment are retained in the cost of property, plant & equipment and related accumulated depreciation until they are removed from service. In the case of disposals, assets and related depreciation are removed from the financial statements and the net amount, less proceeds from disposal, is charged or credited to the income statement.
| Trade and other receivables
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts
| Cash and cash equivalents
| Cash and cash equivalents include cash on hand, demand deposits and other short- term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position.
| Borrowing costs
| Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other payables
| Trade and other creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
| Employee benefits
| The company provides a range of benefits to employees, including annual bonus arrangements and paid holiday arrangements. (i) Short term benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. (ii) Defined contribution pension plans The Company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or voluntary basis. The company has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
| Taxation and deferred taxation
| The company is managed and controlled in the United Kingdom and, consequently, is tax resident in the United Kingdom. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is provided in full on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred tax liability is settled. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Current or deferred taxation assets and liabilities are not discounted.
| Foreign currencies
| (i) Functional and presentation currency Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates ("the functional currency"). The financial statements are presented in £ sterling, which is the company's functional and presentation currency and is denoted by the symbol "£". (ii) 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 that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within ‘finance (expense)/income’. All other foreign exchange gains and losses are presented in the profit and loss account within ‘Other operating (losses)/gains’.
| Research and development
| Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. | Provisions Available for Audits of Small Entities
| In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to Her Majesty's Revenue and Customs and to assist with the preparation of the financial statements.

4. | Employees
| The average monthly number of employees, including directors, during the financial year was 20, (2023 - 25).
|  | 2024 | 2023
|  | Number | Number
| Directors | 5 | 6
| IT Consultants | 15 | 19
|  | ───────── | ─────────
|  | 20 | 25
|  | ═════════ | ═════════

5. | Intangible assets
|  | Development |
|  | Costs | Total
|  | £ | £
| Cost
| At 1 January 2024 | - | -
| Additions | 178,050 | 178,050
|  | ───────── | ─────────
| At 31 December 2024 | 178,050 | 178,050
|  | ───────── | ─────────
| Amortisation
| Charge for financial year | 17,805 | 17,805
|  | ───────── | ─────────
| At 31 December 2024 | 17,805 | 17,805
|  | ───────── | ─────────
| Carrying amount
| At 31 December 2024 | 160,245 | 160,245
|  | ═════════ | ═════════

6. | Property, plant and equipment
|  | Office & | Total
|  | Computer |
|  | Equipment |
|  | £ | £
| Cost
| At 1 January 2024 | 32,198 | 32,198
| Additions | 2,024 | 2,024
|  | ───────── | ─────────
| At 31 December 2024 | 34,222 | 34,222
|  | ───────── | ─────────
| Depreciation
| At 1 January 2024 | 20,627 | 20,627
| Charge for the financial year | 7,953 | 7,953
|  | ───────── | ─────────
| At 31 December 2024 | 28,580 | 28,580
|  | ───────── | ─────────
| Carrying amount
| At 31 December 2024 | 5,642 | 5,642
|  | ═════════ | ═════════
| At 31 December 2023 | 11,571 | 11,571
|  | ═════════ | ═════════

7. | Capital commitments
| The company had no capital commitments at 31 December 2024.

8. | Contingent liabilities
| There were no contingent liabilities at the year ended 31 December 2024.

9. | Events After the End of the Reporting Period
| There have been no significant events affecting the company since the financial year-end.

10. | APPROVAL OF FINANCIAL STATEMENTS
| The financial statements were approved and authorised for issue by the board of directors on ______________________.