Company registration number: 10354347
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
TMT ID, the trading name of TMT Analysis Limited, is a global leader in Mobile Number Intelligence™. The company provides advanced mobile data insights that help businesses build trust, prevent fraud, and make informed decisions across the entire customer lifecycle.
TMT operates in two core areas:
- Mobile Identity: Providing real-time mobile signals that verify users, assess risks, and ensure secure interactions—from onboarding to offboarding.
- Number Intelligence: Enabling the precise routing of SMS and voice traffic globally with industry-leading speed, accuracy, and coverage. These services help reduce costs and prevent fraud in telecommunications.
TMT operates in two core areas:
- Mobile Identity: Providing real-time mobile signals that verify users, assess risks, and ensure secure interactions—from onboarding to offboarding.
- Number Intelligence: Enabling the precise routing of SMS and voice traffic globally with industry-leading speed, accuracy, and coverage. These services help reduce costs and prevent fraud in telecommunications.
TMT ID experienced robust demand for its mobile intelligence solutions during the reporting period. The sharp increase in digital fraud, coupled with heightened regulatory and compliance obligations, drove global demand for real-time mobile data to support age verification, strengthen customer onboarding, and mitigate fraud risks.
Leading global players in technology, financial services, e-commerce, and gaming increasingly sought low-friction, high-assurance solutions—accelerating the adoption of mobile data services to meet these critical needs.
The rise in SIM-swap fraud, and the growing awareness of this threat, further fuelled demand for TMT’s solutions, as businesses turned to advanced mobile intelligence to safeguard their operations and customer relationships.
In response, TMT expanded the breadth and availability of its services across additional geographies, including LATAM, EMEA, and APAC, reinforcing its global reach. The company also deepened its presence in North America.
TMT remains committed to the highest standards of security, quality, and operational excellence. This commitment was formally recognised during the period with the achievement of ISO 27001 (Information Security) and ISO 9001 (Quality Management) certifications.
The company’s people are at the heart of its success and central to delivering the Board’s strategic objectives. TMT continued to expand its workforce with strategic hires across multiple departments and remains focused on providing a diverse, inclusive, and rewarding working environment. The company maintains an excellent reputation in the industry and remains dedicated to delivering best-in-class customer service and support.
Leading global players in technology, financial services, e-commerce, and gaming increasingly sought low-friction, high-assurance solutions—accelerating the adoption of mobile data services to meet these critical needs.
The rise in SIM-swap fraud, and the growing awareness of this threat, further fuelled demand for TMT’s solutions, as businesses turned to advanced mobile intelligence to safeguard their operations and customer relationships.
In response, TMT expanded the breadth and availability of its services across additional geographies, including LATAM, EMEA, and APAC, reinforcing its global reach. The company also deepened its presence in North America.
TMT remains committed to the highest standards of security, quality, and operational excellence. This commitment was formally recognised during the period with the achievement of ISO 27001 (Information Security) and ISO 9001 (Quality Management) certifications.
The company’s people are at the heart of its success and central to delivering the Board’s strategic objectives. TMT continued to expand its workforce with strategic hires across multiple departments and remains focused on providing a diverse, inclusive, and rewarding working environment. The company maintains an excellent reputation in the industry and remains dedicated to delivering best-in-class customer service and support.
Main risks to which the company are exposed are currency, credit and liquidity risk.
Currency risk
The functional currency of the Company and Group is GBP. Foreign currency risk exposure arises primarily from trading in US Dollars and Euros. Fluctuations in value between GBP and these currencies may affect the Company’s revenues, costs and operating profits.
Cash balances are held primarily in US Dollars and Euros and are therefore subject to unrealised foreign currency gains/losses.
Credit risk
The Company’s credit risk is primarily attributable to its principal assets, being cash balances and trade receivables. The Company regularly monitors and reports on aged trade receivables.
Trade receivables are managed in respect of credit and cash flow risk by regular review of customer’s credit rating, continual communication with customers and regular monitoring of amounts outstanding and the age of debt.
The credit risk on cash balances is considered limited because the counterparties are banks with high credit ratings.
Liquidity risk
The Company has sufficient cash resources to mitigate liquidity risk. Cash flow forecasts are prepared regularly.
Currency risk
The functional currency of the Company and Group is GBP. Foreign currency risk exposure arises primarily from trading in US Dollars and Euros. Fluctuations in value between GBP and these currencies may affect the Company’s revenues, costs and operating profits.
Cash balances are held primarily in US Dollars and Euros and are therefore subject to unrealised foreign currency gains/losses.
Credit risk
The Company’s credit risk is primarily attributable to its principal assets, being cash balances and trade receivables. The Company regularly monitors and reports on aged trade receivables.
Trade receivables are managed in respect of credit and cash flow risk by regular review of customer’s credit rating, continual communication with customers and regular monitoring of amounts outstanding and the age of debt.
The credit risk on cash balances is considered limited because the counterparties are banks with high credit ratings.
Liquidity risk
The Company has sufficient cash resources to mitigate liquidity risk. Cash flow forecasts are prepared regularly.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The key performance indicators relate to sales and gross margin and are set out below:
2024 2023
Revenue 12,272,866 10,450,118
Gross Profit 8,231,355 7,103,294
Ebitda 2,947,735 2,525,498
Revenue growth 17.3% 17.9%
Gross Margin % 67.1% 67.9%
Ebitda % 24.0% 24.2%
2024 2023
Revenue 12,272,866 10,450,118
Gross Profit 8,231,355 7,103,294
Ebitda 2,947,735 2,525,498
Revenue growth 17.3% 17.9%
Gross Margin % 67.1% 67.9%
Ebitda % 24.0% 24.2%
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,585,223 (2023 - £1,706,306).
No dividends were paid in the year ended 31 December 2024 (2023: £250,040).
The directors who served during the year were:
L Gheorghe (appointed 17 June 2025)
Looking ahead, TMT ID is committed to reaching its strategic growth plans in the future by broadening its portfolio of mobile intelligence products and services across global markets. As the demand for identity verification and fraud prevention solutions continues to grow, the Group is in a strong position to provide innovative, data-driven services that address the evolving needs of enterprises worldwide. TMT will continue its investment in technology, data partnerships, and expansion to maintain its market leading position and ensure it consistently delivers relevant solutions. The company will remain focused around customer-centric innovation and operational excellence—ensuring TMT ID remains a trusted partner for organisations navigating the complex digital risk landscape.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
There have been no significant events affecting the Group since the year end.
The auditors, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TMT ANALYSIS LIMITED
We have audited the financial statements of TMT Analysis Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TMT ANALYSIS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TMT ANALYSIS LIMITED (CONTINUED)
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 an Auditors' report 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• The Company is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were most significant including UK Companies Act,
employment law, health and safety, pensions legislation and tax legislation.
• We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to
management and those responsible for legal and compliance procedures. We assessed the extent of compliance with
these legal and compliance procedures as part of our procedures on the related financial statement items.
• The engagement partner assessed whether the engagement team collectively had the appropriate competence and
capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues
in this area.
• We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud
might occur. We identified the risk of override of controls as the area where the financial statements were most susceptible
to material misstatement due to fraud. Audit procedures performed by the engagement team included:
• Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
• Understanding how those charged with governance considered and addressed the potential for override of controls or
other inappropriate influence over the financial reporting process;
• Challenging assumptions and judgments made by management in its significant accounting estimates; and
• Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
The assessment did not identify any issues in these areas.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' report.
The financial statements for the year ended 31st December 2023 were unaudited and are presented for comparative purposes only. Accordingly, we do not express an opinion on those financial statements.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TMT ANALYSIS LIMITED (CONTINUED)
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 an Auditors' report 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Richmond House
Walkern Road
Hertfordshire
SG1 3QP
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2025.
The notes on pages 16 to 33 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2025 .
The notes on pages 16 to 33 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TMT Analysis 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 principal activity of TMT Analysis Limited is mobile phone intelligence and data analysis.
The principal activity of TMT Analysis Limited is mobile phone intelligence and data analysis.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
The following subsidiaries have taken exemption in accordance with section 479A of the Companies Act 2006 not to have its financial statements subject to staturtory audit:
TMT Data Services Limited (England and Wales - 12152292)
Phronesis Technologies Limited (England and Wales - 10726796)
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
The following subsidiaries have taken exemption in accordance with section 479A of the Companies Act 2006 not to have its financial statements subject to staturtory audit:
TMT Data Services Limited (England and Wales - 12152292)
Phronesis Technologies Limited (England and Wales - 10726796)
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Other intangible assets
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Significant judgement - contingent consideration
In relation to the acquisition cost of Phronesis Technologies Limited, management did not deem the performance-linked consideration to be a probable future economic outflow for the year ended 31 December 2023. During the year ended 31 December 2024, management's judgement changed and the performance-linked consideration became probable. The additional cost is enetered as an addition to Goodwill and the deferred consideration is included in other creditors due within one year.
The whole of the turnover is attributable to the principal activity of the group.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Intangible assets (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.Tangible fixed assets (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 30
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £187,472 (2023 - £143,228). There were £17,549 (2023: £12,930) contributions payable to the fund at the reporting date.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Included within debtors is an amount of £Nil (2023: £93,000) due from the directors of the company. The loan was interest-free and unsecured, with no fixed repayment terms. The full amount was repaid during the year. No amounts were written off or waived during the year.
Whilst Mr J Wilkinson has the largest shareholding, it is considered that there is no ultimate controlling party.
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