REGISTERED NUMBER: 03859657 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Adgistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S T Howe

REGISTERED OFFICE:

6th Floor, Charlotte Building

17 Gresse Street

London

W1T 1QL

REGISTERED NUMBER:

03859657 (England and Wales)

SENIOR STATUTORY AUDITOR:

Caroline Peverett BA FCA

AUDITORS:

Tuerner Audit Limited

Bridge House

Old Grantham Road

Whatton

Nottingham

NG13 9FG

FIXED ASSETS

Intangible assets

5

55,475

44,440

Tangible assets

6

4,191

6,074

Investments

7

115

115

59,781

50,629

CURRENT ASSETS

Debtors

8

394,685

521,380

Cash at bank and in hand

48,031

10,529

442,716

531,909

CREDITORS

Amounts falling due within one year

9

467,758

509,867

NET CURRENT (LIABILITIES)/ASSETS

(25,042

)

22,042

TOTAL ASSETS LESS CURRENT LIABILITIES

34,739

72,671

PROVISIONS FOR LIABILITIES

9,822

9,822

NET ASSETS

24,917

62,849

CAPITAL AND RESERVES

Called up share capital

10

1,645

1,645

Share premium

856,477

856,477

Retained earnings

(833,205

)

(795,273

)

SHAREHOLDERS' FUNDS

24,917

62,849

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 29 September 2025 and were signed by:

S T Howe - Director

1.	STATUTORY INFORMATION

Adgistics 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared under the going concern concept due to the fact that the company has the continued support of the group. The director has been given assurance that this support will continue for the foreseeable future.

Preparation of consolidated financial statements

The financial statements contain information about Adgistics Limited 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition policy

The company sells software licences. Turnover represents amounts receivable for software licence fees and services. In respect of licence fees, turnover is calculated as that proportion of total licence fees which relate to the period. The calculations are based on whole months, commencing in the month when income first accrues. Amounts received or receivable for licence fees in advance have been deferred and will be included in turnover in the next period.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

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.

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.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility of the project can be demonstrated.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 20 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

1,498,864

Additions

35,035

At 31 December 2024

1,533,899

AMORTISATION

At 1 January 2024

1,454,424

Charge for year

24,000

At 31 December 2024

1,478,424

NET BOOK VALUE

At 31 December 2024

55,475

At 31 December 2023

44,440

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

71,579

Additions

1,523

At 31 December 2024

73,102

DEPRECIATION

At 1 January 2024

65,505

Charge for year

3,406

At 31 December 2024

68,911

NET BOOK VALUE

At 31 December 2024

4,191

At 31 December 2023

6,074

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

115

NET BOOK VALUE

At 31 December 2024

115

At 31 December 2023

115

8.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

46,449

79,131

Other debtors

28,098

141,503

74,547

220,634

Amounts falling due after more than one year:

Amounts owed by group undertakings

320,138

300,746

Aggregate amounts

394,685

521,380

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

49,293

242,190

Amounts owed to group undertakings

88,134

-

Taxation and social security

138,204

14,827

Other creditors

192,127

252,850

467,758

509,867

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

250,562

A Ordinary

0.001

250

250

1,394,728

B Ordinary

0.001

1,395

1,395

1,645

1,645

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

The Report of the Auditors was unqualified.

Caroline Peverett BA FCA (Senior Statutory Auditor)

for and on behalf of Tuerner Audit Limited

12.	ULTIMATE CONTROLLING PARTY

The parent company of the smallest group into which the accounts of Adgistics Limited are consolidated is Origami BidCo AS. Their registered office address from which publicly available accounts can be obtained is:

Papirfly AS

Universitetsgata 2

NO-0164 Oslo

Norway

The ultimate parent company is Origami TopCo AS, a company incorporated in Norway.