Power2Motivate UK Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09453605 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

POWER2MOTIVATE UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R A Purdy

B Cameron

K Ireland

G Le Ber

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

09453605 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

-

210

CURRENT ASSETS

Debtors

5

4,383,260

1,595,499

Cash at bank

1,193,389

3,630,141

5,576,649

5,225,640

CREDITORS

Amounts falling due within one year

6

4,815,205

4,771,606

NET CURRENT ASSETS

761,444

454,034

TOTAL ASSETS LESS CURRENT
LIABILITIES

761,444

454,244

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

761,344

454,144

SHAREHOLDERS' FUNDS

761,444

454,244

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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

B Cameron - Director

1.	STATUTORY INFORMATION

Power2Motivate UK 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.

The company has obtained a letter of support from its parent company, Power2Motivate Australia Pty Ltd, ensuring financial support for the company to meet its liabilities, as they fall due, for a period of at least 12 months and 1 day following the signing of the audit report attached to these accounts. Consequently, the directors have prepared these financial statements on a going concern basis.

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.

Turnover

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

When the company sells points to their customers, these points are issued to the clients' employees and revenue is recognised.

Revenue from the issuance of points from redemption contracted customers are recognised when points are sold.

Revenue from the issuance of points from issuance contracted customers are recognised when points are issued. This is based on margin analysis for past margins which will determine the revenue recognised.

Revenue from promotions, marketing and support services are recognised when the service is performed. This is usually the maintenance of a platform revenue.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. Depreciation is provided at the following annual rates in

order to write off each asset over its estimated useful life:

Fixtures and fittings

- 67% reducing balance

Computer equipment

- 67% reducing balance for general life IT assets

-100% straight line basis for low-value IT assets

Financial instruments

Financial Instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102 (Section 1A).

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

11,374

Additions

1,161

At 31 December 2024

12,535

DEPRECIATION

At 1 January 2024

11,164

Charge for year

1,371

At 31 December 2024

12,535

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

1,354,122

725,345

Amounts owed by group undertakings

2,808,359

708,418

Other debtors

220,779

161,736

4,383,260

1,595,499

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

24,693

32,969

Amounts owed to group undertakings

3,353,545

3,658,704

Taxation and social security

303,028

174,228

Other creditors & accruals

1,133,939

905,705

4,815,205

4,771,606

7.	SECURED DEBTS

At the reporting date, there is a financial debenture subject to both fixed and floating charges in favour of The Bank of Nova Scotia. The secured debt contains negative pledge, restricting the company from creating further security over its assets without the lender's prior consent.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary

£1

100

All shares carry full and equal rights to vote, received dividends, and share in capital distribution, including on winding up. The ordinary shares are not redeemable.

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

The Report of the Auditors was unqualified.

Hayden Sym (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"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."

10.	IMMEDIATE PARENT COMPANY

The immediate parent company is Power2Motivate Australia Pty Limited, a company incorporated in Australia which owns 100% of Power2Motivate UK Limited as at 31 December 2024. Power2Motivate Australia Pty Limited does not prepare consolidated financial statements. The smallest group that prepares consolidated financial statements is Global Reward Solutions Aus Pty Ltd registered at Level 27, 101 Collin Street, Melbourne, VIC 3000. These financial statements are not publicly available.