REGISTERED NUMBER: 14141824 (England and Wales)

J.D. POWER UK LTD

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

6

Other Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

Reconciliation of Equity

17

Reconciliation of Loss

19

DIRECTORS:

Joseph DaMour

Peter Maxwell

SECRETARY:

Oakwood Corporate Secretary Limited

REGISTERED OFFICE:

Suite Ff3, First Floor, Ethos

Kings Road

Swansea

SA1 8AS

REGISTERED NUMBER:

14141824 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Jones

AUDITORS:

Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Joseph DaMour

Peter Maxwell

GOING CONCERN

The company's results for the period are set out in the income statement. The company's loss before tax for the period was £(1,904,211).

At 31 December 2024, the company's net liabilities exceeded its total assets.

In adopting the going concern basis for the preparation of the financial statements, the directors have made appropriate enquiries and have considered the Company's cash flows and available resources.

The company is reliant on the support of the parent and Group to continue to operate in the short and medium term, this was the plan when incorporating the company and purchasing the IP.

The parent and Group companies continue to provide financial and operational support, and assurances have been given that this support will remain until at least 31/12/2025.

As a result of this ongoing support the Directors believe the Going Concern basis to be appropriate for the financial statements to 31/12/2024, but acknowledge that without this support there would be a material uncertainty around going concern.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Peter Maxwell - Director

26 September 2025

Opinion

We have audited the financial statements of J.D. Power UK Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

We draw attention to note 2 in the financial statements, which indicates that the company incurred a net loss of £(1,904,211) during the period ended 31 December 2024 and, as of that date, the company's net liabilities exceeded its total assets. As stated in note 2, these events or conditions, indicate that while some material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern, the directors of the Group and parent company have confirmed their ongoing support of the company. Our opinion is not modified in respect of this matter.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2024 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

enquiring of management, including obtaining and reviewing support documentation, concerning the company's policies and procedures relating to:

-

identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

-

discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud.

-

obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

-

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

-

enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC;

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-

assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

-

evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Jones (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

26 September 2025

TURNOVER

746,591

599,604

Cost of sales

32,650

133,759

GROSS PROFIT

713,941

465,845

Administrative expenses

2,400,853

2,338,443

OPERATING LOSS

(1,686,912

)

(1,872,598

)

Interest payable and similar expenses

4

217,299

134,401

LOSS BEFORE TAXATION

5

(1,904,211

)

(2,006,999

)

Tax on loss

6

-

-

LOSS FOR THE FINANCIAL YEAR

(1,904,211

)

(2,006,999

)

LOSS FOR THE YEAR

(1,904,211

)

(2,006,999

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(1,904,211

)

(2,006,999

)

FIXED ASSETS

Intangible assets

7

534,801

755,013

Tangible assets

8

13,375

28,497

548,176

783,510

CURRENT ASSETS

Debtors

9

132,270

500,595

Cash at bank

207,214

60,257

339,484

560,852

CREDITORS

Amounts falling due within one year

10

5,278,016

3,830,507

NET CURRENT LIABILITIES

(4,938,532

)

(3,269,655

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,390,356

)

(2,486,145

)

CAPITAL AND RESERVES

Called up share capital

11

1

1

Capital contribution reserve

1,399,622

1,399,622

Retained earnings

12

(5,789,979

)

(3,885,768

)

SHAREHOLDERS' FUNDS

(4,390,356

)

(2,486,145

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Peter Maxwell - Director

Called up

Capital

share

Retained

contribution

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

1

(1,878,769

)

1,399,622

(479,146

)

Changes in equity

Total comprehensive income

-

(2,006,999

)

-

(2,006,999

)

Balance at 31 December 2023

1

(3,885,768

)

1,399,622

(2,486,145

)

Changes in equity

Total comprehensive income

-

(1,904,211

)

-

(1,904,211

)

Balance at 31 December 2024

1

(5,789,979

)

1,399,622

(4,390,356

)

1.	STATUTORY INFORMATION

J.D. Power UK 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 consolidated financial statement of the ultimate parent undertaking may be obtained by contacting the company directly at:

J.D Power Headquarters

320 E Big Beaver Rd

Troy, MI 48083

United States of America

Website:www.jdpower.com

2.	ACCOUNTING POLICIES

Basis of preparation

For the year ended 31 December 2024, the financial statements have been prepared in accordance with FRS 101 Reduced Disclosure Framework, issued by the Financial Reporting Council and applicable in the UK. The company previously prepared its financial statements under FRS 102 Section 1A Small Entities.

The transition to FRS 101 has been made to align with group reporting requirements and to benefit from the reduced disclosure exemptions available under FRS 101.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value, and in accordance with the Companies Act 2006.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1;

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

-

paragraph 118(e) of IAS 38 Intangible Assets; and

-

paragraphs 76 and 79(d) of IAS 40 Investment Property;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Critical accounting judgements and key sources of estimation uncertainty

Interest

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Goodwill

Goodwill is recognised as an asset and is not amortised. This accounting treatment is in accordance with the recognition and measurement principles of IFRS 3 Business Combinations, as permitted under FRS 101, which aligns with the policies adopted by the company's parent undertaking.

Instead of amortisation, goodwill is subject to annual impairment testing or more frequently if events or changes in circumstances indicate that it might be impaired. Impairment losses are recognised immediately in profit or loss and are not subsequently reversed.

This treatment represents a departure from the requirements of the Companies Act 2006, which requires goodwill to be amortised over its useful economic life. The directors believe that compliance with IFRS-based principles provides a true and fair view of the company's financial position and performance, particularly in the context of group reporting.

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:

- The technical feasibility of completing the software so that it will be available for use or sale.

- The intention to complete the software and use or sell it.

- The ability to use the software or to sell it.

- How the software will generate probable future economic benefits.

- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.

- The ability to measure reliably the expenditure attributable to the software during its development.

Amortisation is provided at the following annual rates in order to write off each asset evenly over the useful life.

Trade names & trademarks

100% straight line

Customer relationships

50% straight line

Developed technologies & AI

25% straight line

Intangible assets purchased are professionally valued and split between categories based on management expert, with amounts paid above valuations being treated as goodwill.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Taxation

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

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.

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.

Employee benefit costs

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

Financial instruments

The company has elected to apply the provisions of IFRS 9 'Financial Instruments' to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into,

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash at bank and in hand

Cash at bank and in hand includes cash in hand and deposits held at call with banking institutions.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Research and development tax credits are recognised on an accruals basis and are included as an income tax credit under current assets.

Going concern

The company's results for the period are set out in the income statement. The company's loss before tax for the period was (£1,904,211).

At 31 December 2024, the company's net liabilities exceeded its total assets.

In adopting the going concern basis for the preparation of the financial statements, the directors have made appropriate enquiries and have considered the Company's cash flows and available resources.

The company is reliant on the support of the parent and Group to continue to operate in the short and medium term, this was the plan when incorporating the company and purchasing the IP.

The parent and Group companies continue to provide financial and operational support, and assurances have been given that this support will remain until at least 31/12/2025.

As a result of this ongoing support the Directors believe the Going Concern basis to be appropriate for the financial statements to 31/12/2024, but acknowledge that without this support there would be a material uncertainty around going concern.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,410,282

1,110,236

Payroll taxes

158,133

135,063

Other pension costs

195,457

166,920

1,763,872

1,412,219

The average number of employees during the year was as follows:

2024

2023

Technical team

20

17

2024

2023

Director's remuneration

-

-

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Intercompany loan interest

217,299

134,401

5.	LOSS BEFORE TAXATION

The loss before taxation is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

15,122

14,608

Patents and licences amortisation

89,924

242,036

Developed technology & AI amortisation

130,288

140,608

Auditors' remuneration

22,750

19,200

Foreign exchange differences

13,046

(40,814

)

Project internal labour

32,650

133,759

6.

TAXATION

Analysis of tax expense

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7.	INTANGIBLE FIXED ASSETS

Patents

Developed

and

technology

Goodwill

licences

& AI

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

337,664

497,447

557,141

1,392,252

AMORTISATION

At 1 January 2024

-

407,523

229,716

637,239

Amortisation for year

-

89,924

130,288

220,212

At 31 December 2024

-

497,447

360,004

857,451

NET BOOK VALUE

At 31 December 2024

337,664

-

197,137

534,801

At 31 December 2023

337,664

89,924

327,425

755,013

8.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

45,368

DEPRECIATION

At 1 January 2024

16,871

Charge for year

15,122

At 31 December 2024

31,993

NET BOOK VALUE

At 31 December 2024

13,375

At 31 December 2023

28,497

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

71,905

457,599

Other debtors

60,365

42,996

132,270

500,595

Included within trade debtors, is an intercompany balance of £71,905 (2023: £457,599) owed by J.D. Power US and fellow subsidiary companies. This is in addition to the balance held within other creditors.

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

(2,177

)

15,420

Amounts owed to group undertakings

933,180

1,210,128

Other creditors

4,245,981

2,510,764

Accrued expenses

101,032

94,195

5,278,016

3,830,507

Included within other creditors at the end of the reporting period is a loan from J.D. Power US totalling £4,245,981 (2023: £2,510,764), including interest.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

12.

RESERVES

Capital

Retained

contribution

earnings

reserve

Totals

£

£

£

At 1 January 2024

(3,885,768

)

1,399,622

(2,486,146

)

Deficit for the year

(1,904,211

)

(1,904,211

)

At 31 December 2024

(5,789,979

)

1,399,622

(4,390,357

)

13.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £32,500 (2023: £62,500).

14.	RELATED PARTY DISCLOSURES

The related balances payable at the end of the reporting period were £933,180 (2023: £1,210,128) owing to J.D. Power (US based Parent company). In addition to this balance, the company has received unsecured loans of £4,195,000 (2023: £2,500,000). The balance held at the end of the reporting period was £4,245,981 (2023: £2,510,764). Interest of £50,981 (2023: £10,764) was accrued in the year and added to the outstanding loan balance. Interest is charged at 5%.

15.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is J.D Power, a company registered in the United States of America.

The directors believe there to be no Ultimate Controlling Party.

16.	FIRST YEAR ADOPTION

For the year ended 31 December 2024, the financial statements have been prepared in accordance with FRS 101 Reduced Disclosure Framework, issued by the Financial Reporting Council and applicable in the UK. The company previously prepared its financial statements under FRS 102 Section 1A Small Entities.

The transition to FRS 101 has been made to align with group reporting requirements and to benefit from the reduced disclosure exemptions available under FRS 101.