Sessions Tech Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14174781

SESSIONS TECH LIMITED

FILLETED FINANCIAL STATEMENTS

30 September 2024

SESSIONS TECH LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	30 Sep 24		31 Mar 23
Note	£	£	£

Fixed assets

Intangible assets	4	409,019	–
Tangible assets	5	301,224	–
		----------	----
		710,243	–

Current assets

Debtors	6	58,405	–
Cash at bank and in hand		1,171,824	1
		-------------	----
		1,230,229	1

Creditors: amounts falling due within one year	7	1,915,695		–
		-------------		----
Net current (liabilities)/assets			( 685,466)	1
			----------	----
Total assets less current liabilities			24,777	1
			---------	----
Net assets			24,777	1
			---------	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	24,776	–
	---------	----
Shareholder funds	24,777	1
	---------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr I Banks

Director

Company registration number: 14174781

SESSIONS TECH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8th Floor, 52 Grosvenor Gardens, London, SW1W 0AU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company's activities, together with factors likely to affect its future development, performance, and position are considered by the directors on an ongoing basis. The directors have performed stress testing of cash flow forecasts to take account of events that could impact the financial position of the company. As such, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The validity of this assumption also depends upon the continuing support of the group undertakings and on funding from other external sources. If the company were unable to continue in operational existence for the foreseeable future, adjustment would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Sessions Market Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: a) Disclosures in respect of each class of share capital have not been presented. b) No cash flow statement has been presented for the company. c) Disclosures in respect of financial instruments have not been presented. d) Disclosures in respect of share-based payments have not been presented. e) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Intangible assets

	Patents, trademarks and licences
	£
Cost
Additions	468,480
	----------
At 30 September 2024	468,480
	----------
Amortisation
Charge for the period	59,461
	----------
At 30 September 2024	59,461
	----------
Carrying amount
At 30 September 2024	409,019
	----------
At 31 March 2023	–
	----------

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2023	–
Additions	338,997
	----------
At 30 September 2024	338,997
	----------
Depreciation
At 1 April 2023	–
Charge for the period	37,773
	----------
At 30 September 2024	37,773
	----------
Carrying amount
At 30 September 2024	301,224
	----------
At 31 March 2023	–
	----------

6. Debtors

	30 Sep 24	31 Mar 23
	£	£
Trade debtors	400	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	52,890	–
Other debtors	5,115	–
	---------	----
	58,405	–
	---------	----

7. Creditors: amounts falling due within one year

	30 Sep 24	31 Mar 23
	£	£
Trade creditors	19,992	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,426,106	–
Social security and other taxes	5,793	–
Other creditors	463,804	–
	-------------	----
	1,915,695	–
	-------------	----

The loans are secured.

8. Summary audit opinion

The auditor's report dated 24 September 2025 was unqualified .

The senior statutory auditor was Christopher Kyffin-Walton FCCA , for and on behalf of UHY Hacker Young (S.E.) Limited .

9. Controlling party

The company is under the control of Sessions Market Ltd.