REGISTERED NUMBER: 06505300 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Grey Monarch Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J Lloyd

SECRETARY:

D J Lloyd

REGISTERED OFFICE:

Connect House

Kingston Road

Leatherhead

Surrey

KT22 7LT

REGISTERED NUMBER:

06505300 (England and Wales)

AUDITORS:

Pareto Analysis Ltd (Statutory Auditor)

Parkview

23 Wadham Street

Weston-super-Mare

Somerset

BS23 1JZ

ACCOUNTANTS:

Xeinadin

Accountants and Business Advisors

Edinburgh House

1-5 Bellevue Road

Clevedon

BS21 7NP

FIXED ASSETS

Tangible assets

4

49,140

71,305

CURRENT ASSETS

Debtors

5

986,791

815,759

Cash at bank

156,957

337,722

1,143,748

1,153,481

CREDITORS

Amounts falling due within one year

6

(1,051,283

)

(1,044,647

)

NET CURRENT ASSETS

92,465

108,834

TOTAL ASSETS LESS CURRENT LIABILITIES

141,605

180,139

CREDITORS

Amounts falling due after more than one year

7

-

(11,328

)

NET ASSETS

141,605

168,811

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

9

140,605

167,811

SHAREHOLDERS' FUNDS

141,605

168,811

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 director and authorised for issue on 26 September 2025 and were signed by:

D J Lloyd - Director

1.	STATUTORY INFORMATION

Grey Monarch Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes. Revenue represents invoiced software licence fee income, support and maintenance income and services income.

Subscription and cloud based Software as a Service (SaaS) income are recognised over time in the month the service is provided.

Support and maintenance income is deferred at the date of invoicing and released to the profit and loss account over time across the duration of the maintenance contract.

The balance of deferred income not released to the profit and loss account is carried in the balance sheet within accruals and deferred income.

Professional services income is recognised in the month of fulfilment of the service.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

73,592

136,825

210,417

Additions

16,294

-

16,294

At 31 December 2024

89,886

136,825

226,711

DEPRECIATION

At 1 January 2024

35,131

103,981

139,112

Charge for year

16,943

21,516

38,459

At 31 December 2024

52,074

125,497

177,571

NET BOOK VALUE

At 31 December 2024

37,812

11,328

49,140

At 31 December 2023

38,461

32,844

71,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

181,303

225,102

Amounts owed by group undertakings

673,788

393,788

Other debtors

131,700

178,968

Tax

-

17,901

986,791

815,759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

11,328

21,516

Trade creditors

45,189

135,800

Amounts owed to group undertakings

219,206

150,814

Social security and other taxes

76,408

80,260

Other creditors

1,883

3,811

Directors' current accounts

-

24,000

Accruals and deferred income

697,269

628,446

1,051,283

1,044,647

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

-

11,328

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

9.

RESERVES

Retained

earnings

£

At 1 January 2024

167,811

Deficit for the year

(27,206

)

At 31 December 2024

140,605

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul William John FCCA (Senior Statutory Auditor)

for and on behalf of Pareto Analysis Ltd (Statutory Auditor)

11.	DEFINED CONTRIBUTION SCHEMES

Charge to profit or loss in respect of defined contribution schemes 2024: £14,094 (2023: £10,613).

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the

scheme are held separately from those of the company in an independently administered fund.

12.	RELATED PARTY DISCLOSURES

The ultimate parent company of Grey Monarch Limited is Pathlock, Inc. and its registered office is 169 Madison Ave, #2246, New York, NY 10016, United States of America