Truthsayers Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11553657

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		2,466		495

			2,466		495
CURRENT ASSETS
Debtors	6	2,200		86,992
Cash at bank and in hand		36,051		29,392

		38,251		116,384
Creditors: Amounts Falling Due Within One Year	7	(10,132 )		(79,030 )

NET CURRENT ASSETS (LIABILITIES)			28,119		37,354

TOTAL ASSETS LESS CURRENT LIABILITIES			30,585		37,849

NET ASSETS			30,585		37,849

CAPITAL AND RESERVES
Called up share capital	8		37		37
Share premium account			224,193		224,193
Revaluation reserve	9		180,000		180,000
Profit and Loss Account			(373,645 )		(366,381 )

SHAREHOLDERS' FUNDS			30,585		37,849

Page 1

Page 2

Truthsayers Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Andrew Dean

Director

25 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Truthsayers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11553657 . The registered office is 6 Fairview Close, Watledge, Nailsworth, Gloucestershire, GL6 0AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company has already sold some services and has a pipeline of prospects, which the directors believe will enable it to become profitable in the near future. The founder investors have expressed their willingness to continue to provide funding to the company until such time as it generates its own net cash inflows.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the licensing of products and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Licensing of products

Turnover from the licensing of products is recognised in the periods covered by the licences. Licences covering periods beyond the current year are apportioned across the applicable accounting years and future periods are held in the balance sheet as deferred income, to be released to profit and loss when the future periods complete.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to £Nil on a straight line basis over their expected useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets comprise the company's methodology and supporting platform. It is amortised to the profit and loss account over its estimated economic life of five years.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% straight line

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was 3 (2023: 3)

Page 3

Page 4

Truthsayers Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Intellectual Property
	£
Cost
As at 1 January 2024	180,000

As at 31 December 2024	180,000

Amortisation
As at 1 January 2024	180,000

As at 31 December 2024	180,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

The company has made sales of services directly resulting from its investment of time and expense in the development of its bespoke solution through a combination of neuroscience, psychology, technology, data science and machine learning.

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	3,473
Additions	3,288

As at 31 December 2024	6,761

Depreciation
As at 1 January 2024	2,978
Provided during the period	1,317

As at 31 December 2024	4,295

Net Book Value
As at 31 December 2024	2,466

As at 1 January 2024	495

6. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	1,200	85,209
Other debtors < 1 year	-	1,783
Amounts owed by associates	1,000	-

	2,200	86,992

Page 4

Page 5

Truthsayers Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	612	28
Other taxes and social security	2,208	2,327
VAT	3,341	17,967
Net salaries control account	114	-
Pension contributions payable	347	347
Accruals and deferred income	3,500	57,500
Directors' loan accounts	10	861

	10,132	79,030

8. Share Capital

	31 December 2024	31 December 2023
Allotted, called up and fully paid	£	£
3,000 Ordinary Shares of £ 0.010 each	30	30
704 Ordinary B shares of £ 0.010 each	7	7

	37	37

9. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	180,000

As at 31 December 2024	180,000

Page 5