| REGISTERED NUMBER: |
| Advai Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| Advai Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| Advai Ltd (Registered number: 12540124) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Advai Ltd |
| Company Information |
| for the year ended 31 March 2025 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| Advai Ltd (Registered number: 12540124) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 7 |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 |
| Share premium |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Advai Ltd (Registered number: 12540124) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | Statutory information |
| Advai Ltd ("the company") is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address is 20-22 Wenlock Road, London, England, N1 7GU. |
| The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 March 2025 (2024: year ended 31 March 2024). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Going concern |
| At the balance sheet date the company had a positive cash balance and strong net asset position. This combined with the financial forecasts prepared by the Directors, shows that the company will be able to operate within the facilities available to it for a period of at least 12 months from the date of signing these financial statements. |
| On that basis, the Directors have prepared these financial statements on a going concern basis. |
| Turnover |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. |
| Turnover from providing subscriptions to consumers is recognised on the signing of contracts and once the consumer has access to the service. |
| Rendering of services |
| Turnover from providing subscriptions to consumers is recognised over the respective period in which the service relates and when all of the following conditions are satisfied: |
| - the amount of turnover can be measured reliably; |
| - it is probable that the company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Advai Ltd (Registered number: 12540124) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | Accounting policies - continued |
| Tangible fixed assets |
| 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. |
| 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. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. |
| Depreciation is provided on the following basis: |
| Fixtures and fittings - straight line over 5 years |
| Computer equipment - straight line over 6 years |
| Plant and machinery - straight line over 5 years |
| 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 are recognised in the Income Statement. |
| Financial instruments |
| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans with related parties. |
| All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised costs. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred taxation. 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 balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 value 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 balance sheet date. |
| Advai Ltd (Registered number: 12540124) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | Accounting policies - continued |
| 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 shall be 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 on a straight-line basis over their 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. |
| Operating lease commitments |
| Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
| Pensions |
| The company contributes to defined contribution pension plans for its employees. A defined contribution pension plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligations. |
| The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| Advai Ltd (Registered number: 12540124) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 5. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Corporation tax |
| Prepayments and accrued income |
| 6. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 212,283 | 98,109 |
| Other creditors |
| Directors' current accounts | 66,356 | 146 |
| Accruals and deferred income |
| 7. | Provisions for liabilities |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 19,051 | - |
| Deferred tax |
| £ |
| Provided during year |
| Balance at 31 March 2025 |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary shares | 0.00001 | 2 | 2 |
| B Ordinary | 0.00001 | - | - |
| 2 | 2 |
| The Ordinary shares entitle shareholders to one vote per share and rank pari passu to dividend distributions and other distributions. The B Ordinary shares do not entitle shareholders with any voting rights and no right to dividend distributions and other distributions. |
| 9. | Pension commitments |
| The company contributes to defined contribution pension schemes. 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 schemes and amounted to £34,333 (2024: £14,874). Contributions totalling £13,744 (2024: £4,565) were payable to the fund at the balance sheet date and are included in creditors. |