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Registered number: 08910746
PANINSIGHT LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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PANINSIGHT LTD
REGISTERED NUMBER: 08910746
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 8 form part of these financial statements.
Page 1
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The principal activity of the company is the development, marketing and implementation of dashboard software. The company is a private limited company, which is incorporated in England and Wales (no. 08910746). The address of the registered office is Concordia Works, 3rd Floor, 30 Sovereign Street, Leeds, LS1 4BA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and so the accounts have been prepared on a going concern basis.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
In respect of licenses and support contracts turnover is recognised over the life of the contracts.
Research expenditure is written off in the period in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:
∙It is technically feasible to complete the intangible asset so that it will be available for use or sale;
There is the intention to complete the intangible asset and use or sell it;
∙There is the ability to use or sell the intangible asset;
∙The use or sale of the intangible asset will generate probable future economic benefits;
∙There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
∙The expenditure attributable to the intangible asset during its development can be measured reliably
Expenditure that does not meet the above criteria is expensed as incurred.
Amortisation on capitalised development expenditure is charged over a period of five years commencing one year after the costs were incurred.
Page 2
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 3
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised on a straight line basis over the useful economic life. No amortisation is recognised in the year of acquisition.
Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 10 years from the date of acquisition. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Other intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
The estimated useful lives range as follows:
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Amortised over 5 years commencing one year after costs were incurred
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Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 4
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
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The average monthly number of employees, including directors, during the year was 35 (2023 - 37).
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Charge for the year on owned assets
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Page 5
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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The company owns 100% of Panintelligence Limited, a company incorporated in England. Panintelligence Limited was dormant throughout the current and prior year and has never traded.
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Prepayments and accrued income
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Page 6
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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84,456 (2023 - 84,456) Ordinary shares shares of £0.01 each
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102,212 (2023 - 102,212) A Ordinary shares shares of £0.01 each
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5,673 (2023 - 5,673) B Ordinary shares shares of £0.01 each
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4,542 (2023 - 4,542) C Ordinary shares shares of £0.01 each
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Share premium account
This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Profit and loss account
This reserve records retained earnings and accumulated losses.
Page 7
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PANINSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The company has an Enterprise Management Incentive (EMI) option scheme for key personnel including certain directors.
The fair value of the options at the date of grant is calculated by the directors with reference to option pricing models and inputs including the estimated market value of the shares, the length of the option agreement, the exercise price and the risk-free interest rate.
During the year 602 options in respect of a grant from the 2020 scheme were surrendered. The fair value of the options when granted was £300,684, after factoring in the options surrendered in the year. The exercise of the options for the 2020 schemes is dependent on certain performance conditions which, at the year end, the directors considered had not been met, and as such no expense has been recognised in the year ending December 2024. The directors will review this on an annual basis and release the fair value to profit and loss as the performance conditions are satisfied.
In addition 2,500 options in respect of a 2015 EMI scheme and 18,980 options in respect of a 2018 scheme remain unexercised. The fair value of these options at the date of grant was deemed to be £nil. Under both the 2015 and 2018 schemes the options can be exercised at any time from the date of the grant and the exercise of options is not dependent on eligible personnel meeting performance criteria.
The options are exercisable at a price of £6.50, £12.66 and £5.304 for the 2015, 2018 and 2020 schemes respectively.
For all schemes if the options remain unexercised after a period of 10 years from the date of grant, the options expire. Options also lapse 12 months after the death of the option holder or if the option holder ceases to be an employee of the company.
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The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by James Hunt, BA (Hons) MA FCA CTA (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.
Page 8
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