REGISTERED NUMBER: 14938684 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LIMITLESS TECHNOLOGY GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Beadle

Ms M Neale

M A Havard

REGISTERED OFFICE:

Ashton

Hillbrow Road

Esher

KT10 9UD

REGISTERED NUMBER:

14938684 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants and Registered Auditors

Empress House

43A Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Intangible assets

4

234,967

201,067

Tangible assets

5

2,702

5,213

Investments

6

8

8

237,677

206,288

CURRENT ASSETS

Debtors

7

736,808

847,741

Cash at bank

1,858,404

1,053,447

2,595,212

1,901,188

CREDITORS

Amounts falling due within one year

8

786,008

710,504

NET CURRENT ASSETS

1,809,204

1,190,684

TOTAL ASSETS LESS CURRENT LIABILITIES

2,046,881

1,396,972

CAPITAL AND RESERVES

Called up share capital

33,248

33,248

Share premium

1,357,744

1,357,744

Retained earnings

655,889

5,980

SHAREHOLDERS' FUNDS

2,046,881

1,396,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:

R J Beadle - Director

1.	STATUTORY INFORMATION

Limitless Technology Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Limitless Technology Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

straight line over two years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share option payments

Certain employees participate in the share option scheme which provides additional remuneration for those employees. The award is given in the form of shares options ('equity-settled transactions') in exchange for their services.

Any options that are issued with an exercise price below the fair market value create a share based payment charge. The charge is recognised as an expense in the Income Statement with a corresponding increase in equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 January 2024

201,067

-

201,067

Additions

-

64,688

64,688

At 31 December 2024

201,067

64,688

265,755

AMORTISATION

Amortisation for year

28,724

2,064

30,788

At 31 December 2024

28,724

2,064

30,788

NET BOOK VALUE

At 31 December 2024

172,343

62,624

234,967

At 31 December 2023

201,067

-

201,067

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

5,784

Additions

2,620

At 31 December 2024

8,404

DEPRECIATION

At 1 January 2024

571

Charge for year

5,131

At 31 December 2024

5,702

NET BOOK VALUE

At 31 December 2024

2,702

At 31 December 2023

5,213

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

8

NET BOOK VALUE

At 31 December 2024

8

At 31 December 2023

8

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

623,875

811,625

Other debtors

112,933

36,116

736,808

847,741

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

98,511

162,770

Amounts owed to group undertakings

97,042

105,106

Taxation and social security

201,840

77,155

Other creditors

388,615

365,473

786,008

710,504

9.	RELATED PARTY DISCLOSURES

On 1 December 2023, the Company acquired some of the assets of another Company, related by key management personnel. Included within the purchase was the Business Intellectual Property, US Subsidiary Shares, Customer Lists, Computer Equipment / IT, Goodwill, and the Name. Any remaining assets, such as cash and trade debts, were excluded from the purchase.

The sale consideration of £103,000 was settled in instalments and by the year end 31 December 2024 was paid in full.

The related party held a fixed and floating charge over the assets of the Company by way of a Debenture which was satisfied on 08 January 2025.