Company Registration No. 12178814 (England and Wales)
Ground Truth Intelligence Limited
Unaudited accounts
for the year ended 31 December 2024
Ground Truth Intelligence Limited
Unaudited accounts
Contents
Ground Truth Intelligence Limited
Company Information
for the year ended 31 December 2024
Directors
Stewart Kelly
Matthew Hunt
Company Number
12178814 (England and Wales)
Registered Office
Telephone House
69 Paul Street
7th Floor
London
EC2A 4NQ
United Kingdom
Accountants
'Evolve Accounting and Tax Solutions Ltd'
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Ground Truth Intelligence Limited
Statement of financial position
as at 31 December 2024
Tangible assets
28,212
37,372
Cash at bank and in hand
716,612
670,160
Creditors: amounts falling due within one year
(515,314)
(1,138,874)
Net current assets
479,574
359,715
Total assets less current liabilities
507,786
397,087
Creditors: amounts falling due after more than one year
(7,880,738)
(5,731,180)
Provisions for liabilities
Net liabilities
(7,378,312)
(5,334,093)
Called up share capital
100
100
Profit and loss account
(7,378,412)
(5,334,193)
Shareholders' funds
(7,378,312)
(5,334,093)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by
Stewart Kelly
Director
Company Registration No. 12178814
Ground Truth Intelligence Limited
Notes to the Accounts
for the year ended 31 December 2024
Ground Truth Intelligence Limited is a private company, limited by shares, registered in England and Wales, registration number 12178814. The registered office is Telephone House, 69 Paul Street, 7th Floor, London, EC2A 4NQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Expenditure on research and development is expensed in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Ground Truth Intelligence Limited
Notes to the Accounts
for the year ended 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The financial statements are prepared on a going concern basis as the company has the full support of its parent undertaking.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
3,628
50,527
54,155
At 31 December 2024
3,628
50,744
54,372
At 1 January 2024
1,948
14,835
16,783
Charge for the year
420
8,957
9,377
At 31 December 2024
2,368
23,792
26,160
At 31 December 2024
1,260
26,952
28,212
At 31 December 2023
1,680
35,692
37,372
Amounts falling due within one year
Trade debtors
208,756
752,017
Accrued income and prepayments
65,130
21,933
Other debtors
4,390
54,479
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
150,519
213,899
Amounts owed to group undertakings and other participating interests
62,294
64,001
Taxes and social security
49,362
78,554
Other creditors
24,397
24,506
Deferred income
120,867
163,297
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Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
7,880,738
5,731,180
Ground Truth Intelligence Limited
Notes to the Accounts
for the year ended 31 December 2024
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Transactions with related parties
Management fees of £200,397 (2023: £538,863) were incurred during the year from Ground Truth Intelligence USA Inc. a fellow Subsidiary of Ground Truth Holdings Limited. At the balance sheet date £64,001 was owing to Ground Truth Intelligence USA Inc.
Ground Truth Intelligence Limited is a wholly owned subsidiary of Ground Truth Holdings Limited the registered office being Congress House, 14 Lyon Road, Middlesex, HA1 2EN.
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Average number of employees
During the year the average number of employees was 17 (2023: 24).