REGISTERED NUMBER: 05964802 (England and Wales)

ASSIMIL8 LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

K N Hurd

K Mullins

SECRETARY:

Mrs L Hurd

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

05964802 (England and Wales)

AUDITORS:

Phipps Henson McAllister

Chartered Accountants

and Statutory Auditors

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Intangible assets

4

1,186,512

836,986

Tangible assets

5

327

2,426

1,186,839

839,412

CURRENT ASSETS

Debtors

6

1,623,108

1,710,249

Cash at bank

1,041,140

2,274,540

2,664,248

3,984,789

CREDITORS

Amounts falling due within one year

7

3,340,908

4,222,526

NET CURRENT LIABILITIES

(676,660

)

(237,737

)

TOTAL ASSETS LESS CURRENT LIABILITIES

510,179

601,675

CREDITORS

Amounts falling due after more than one year

8

61,583

159,383

NET ASSETS

448,596

442,292

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

448,496

442,192

SHAREHOLDERS' FUNDS

448,596

442,292

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:

K N Hurd - Director

1.	STATUTORY INFORMATION

Assimil8 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.	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.

Intangible assets other than goodwill

Intangible assets acquired separately from the business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognise separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software development - 10% per annum on cost

Amortisation of this intangible asset will commence upon the completion of each project involved.

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

-

25% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Certain development costs are capitalised where it is recognised that future economic benefit will be derived from a specific project.

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

836,986

Additions

349,526

At 31 December 2024

1,186,512

NET BOOK VALUE

At 31 December 2024

1,186,512

At 31 December 2023

836,986

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

74,752

DEPRECIATION

At 1 January 2024

72,326

Charge for year

2,099

At 31 December 2024

74,425

NET BOOK VALUE

At 31 December 2024

327

At 31 December 2023

2,426

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Trade debtors

451,695

207,155

Other debtors

1,171,413

1,503,094

1,623,108

1,710,249

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Bank loans and overdrafts

97,800

97,800

Trade creditors

114,971

1,147,635

Taxation and social security

273,166

249,441

Other creditors

2,854,971

2,727,650

3,340,908

4,222,526

Included within the other creditors are invoiced sales in advance of £2,844,315 (2023: £2,720,095) in respect of subscriptions and consultancy hours. The sales are released into the profit and loss account over the course of the respective subscription or when consultancy hours are utilised by customers.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

(Unaudited)

£

£

Bank loans

61,583

159,383

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

(Unaudited)

£

£

Within one year

4,825

9,510

Between one and five years

487

5,312

5,312

14,822

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

(Unaudited)

£

£

Bank loans

159,383

257,183

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

45

Ordinary A shares

1

45

45

45

Ordinary B shares

1

45

45

5

Ordinary C shares

1

5

5

95

95

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

The Report of the Auditors was unqualified.

Stuart Armstrong FCCA (Senior Statutory Auditor)

for and on behalf of Phipps Henson McAllister

13.	PENSION COMMITMENTS

The Company operates a defined contribution pension scheme for its staff. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions of £6,233 (2023: £5,290) were payable to the fund at the balance sheet date.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

(Unaudited)

£

£

K N Hurd

Balance outstanding at start of year

44,853

278

Amounts advanced

9,911

44,575

Amounts repaid

(55,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(236

)

44,853

K Mullins

Balance outstanding at start of year

45,000

882

Amounts advanced

9,935

44,118

Amounts repaid

(55,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(65

)

45,000

The director loan account balances were repaid in full on 1 January 2024.

15.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Assimil8 Holdings Limited. There is no ultimate controlling party.