Smartcat Platform Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Smartcat Platform Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13937333 . The registered office is 27 Old Gloucester Street, London, WC1N 3AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The director has considered the annual budget, forecasts and other relevant information in forming his assessment of the going concern assumption. Confirmation from Smartcat Group Inc, the parent entity of the company, have been received that the group will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.

Based on these assessments and having regard to the resources available to the entity, the director has concluded that there is no

material uncertainty and that the company can continue to adopt the going concern basis in preparing the accounts.

2.3. Turnover

The company's turnover is calculated on a 6% mark up on related costs.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be

reliably measured. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the terms

of the intercompany agreement, when the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the costs incurred can be measured reliably in accordance with the terms of the intercompany agreement

2.4. Financial Instruments

Financial assets at amortised cost

Financial assets at amortised cost comprise bank balances other receivables. Financial assets at amortised cost are initially recognised at the transaction price. After initial measurement, these instruments are subsequently carried at amortised cost.

Financial assets at amortised cost are included in current assets.

Financial liabilities at amortised cost

Financial liabilities at amortised cost comprise other creditors. Financial liabilities at amortised cost are initially recognised at the transaction price. After initial measurement, these instruments are subsequently measured at amortised cost.

A financial liability is derecognised when it is extinguished, discharged, cancelled or expired

2.5. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Smartcat Platform Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 3)

4. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	29,247	-
Other debtors	3,613	8,859

	32,860	8,859

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	540	4,800
Other creditors	33,151	49,044
Taxation and social security	16,594	6,204

	50,285	60,048

6. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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Smartcat Platform Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Related Party Transactions

During the financial year ended 31 December 2024, the director of Smartcat Platform Limited Tatsiana Bulat was also a director of Kensington Advisors Ltd that provided accounting and other professional services to Smartcat Platform Limited. As at 31 December 2024, Smartcat Platform Limited owed £2,040 to Kensington Advisors Ltd for provided services.

8. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our accountants to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9. Ultimate Controlling Party

The immediate and ultimate parent undertaking is Smartcat Group Inc (incorporated in United States). Its registered office is 1013 Centre Road, Suite 403-A, Wilmington, Delaware 19805, New Castle County, United States.

Copies of the group accounts may be obtained from the company's registered office.

10. Auditor's remuneration

The company incurred an auditor's fee in amount of £6,930 (2023: £6,600) for the audit of 2024 Financial Statements.

11. Audit Information

The auditor's report on the accounts of Smartcat Platform Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Daniel Mould ACCA (Senior Statutory Auditor) for and on behalf of Windsor Audit Limited , Statutory Auditor.

Windsor Audit Limited

1 Giltspur Street

Farringdon

London

EC1A 9DD

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		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	32,860		8,859
Cash at bank and in hand		6,841		26,725

		39,701		35,584
Creditors: Amounts Falling Due Within One Year	5	(50,285 )		(60,048 )

NET CURRENT ASSETS (LIABILITIES)			(10,584 )		(24,464 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(10,584 )		(24,464 )

NET LIABILITIES			(10,584 )		(24,464 )

CAPITAL AND RESERVES
Called up share capital	6		100		100
Profit and Loss Account			(10,684 )		(24,564 )

SHAREHOLDERS' FUNDS			(10,584)		(24,464)