Jaaq Corporate Limited

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

Registered number: 13589848

		31 December 2024		31 August 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,858,230		1,222,033
Tangible Assets	5		70,661		22,188

			1,928,891		1,244,221
CURRENT ASSETS
Debtors	6	194,850		75,880
Cash at bank and in hand		161,404		227,797

		356,254		303,677
Creditors: Amounts Falling Due Within One Year	7	(656,629 )		(1,764,011 )

NET CURRENT ASSETS (LIABILITIES)			(300,375 )		(1,460,334 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,628,516		(216,113 )

NET ASSETS/(LIABILITIES)			1,628,516		(216,113 )

CAPITAL AND RESERVES
Called up share capital	8		15		12
Share premium account			5,848,153		1,635,952
Profit and Loss Account			(4,219,652 )		(1,852,077 )

SHAREHOLDERS' FUNDS			1,628,516		(216,113)

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Jaaq Corporate Limited

Balance Sheet (continued)

As At 31 December 2024

For the period 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

Daniel Cook

Director

16/09/2025

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

1. General Information

Jaaq Corporate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13589848 . The registered office is 229-231 High Holborn, London, WC1V 7DA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

2.2. Going Concern Disclosure

The Directors have a reasonable expectations that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from licence agreements is recognised on a straight-line basis over the term of the contract, reflecting the period over which the services are provided.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.This consists of R&D and non R&D capitalised software expenditure.

2.5. 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 8.33% on a straight line basis over their expected useful economic lives, which range from five to fifteen years.

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.

2.6. Tangible Fixed Assets and Depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Plant & Machinery	33% Straight line
Fixtures & Fittings	14% Straight line

2.7. Presentation currency

The accounts are presented in £ sterling.

2.8. Research and Development Costs

Part of the expenditure on research and development is written off in the year in which it is incurred. Details of capitalised R&D expenditure along with amortisation polciies are given in note 2.5

3. Average Number of Employees

Average number of employees, including directors, during the period was: 24 (2023: 10)

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Jaaq Corporate Limited

Notes to the Financial Statements (continued)

For the Period 1 September 2023 to 31 December 2024

4. Intangible Assets

	Other
	£
Cost
As at 1 September 2023	1,332,426
Additions	815,163

As at 31 December 2024	2,147,589

Amortisation
As at 1 September 2023	110,393
Provided during the period	178,966

As at 31 December 2024	289,359

Net Book Value
As at 31 December 2024	1,858,230

As at 1 September 2023	1,222,033

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 September 2023	20,517	10,611	31,128
Additions	35,218	29,011	64,229

As at 31 December 2024	55,735	39,622	95,357

Depreciation
As at 1 September 2023	7,677	1,263	8,940
Provided during the period	12,467	3,289	15,756

As at 31 December 2024	20,144	4,552	24,696

Net Book Value
As at 31 December 2024	35,591	35,070	70,661

As at 1 September 2023	12,840	9,348	22,188

6. Debtors

	31 December 2024	31 August 2023
	£	£
Due within one year
Trade debtors	81,886	8,400
Other debtors	112,964	50,380

	194,850	58,780
Due after more than one year
Other debtors	-	17,100

	194,850	75,880

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Jaaq Corporate Limited

Notes to the Financial Statements (continued)

For the Period 1 September 2023 to 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 August 2023
	£	£
Trade creditors	256,061	246,469
Other creditors	309,297	1,488,045
Taxation and social security	91,271	29,497

	656,629	1,764,011

8. Share Capital

	31 December 2024	31 August 2023
	£	£
Allotted, Called up and fully paid	15	12

9. Other Commitments

At 31 December 2024 the company had the following future minimum lease payments under noncancellable operating leases for each of the following periods:

	31 December 2024	31 August 2023
	£	£
Not later than one year	49,332	6,777
Later than one year and not later than five years	98,664	-

	147,996	6,777

10. Related Party Transactions

During the year, D Gray invoiced the company for consultancy services to the value of £31,000 (2023: £67,500). At the balance sheet date £NIL remained outstanding. There is an outstanding directors loan account balance of £NIL (2023: £4,997) as at the balance sheet date.

During the year, D Cook invoiced the company for consultancy services to the value of £87,000 (2023: £8,334). At the balance sheet date £12,500 remained outstanding.

11. Exceptional Items

Provision for Employers’ National Insurance on Consultancy Fees

During the period, the company undertook a review of its historical payments to consultants and identified that certain consultancy arrangements over the past three financial years should have been treated as employment relationships for tax purposes. As a result, the company has re-assessed its liabilities and concluded that Employers' National Insurance contributions should have been accounted for and paid via PAYE rather than treated as gross payments.

A provision has therefore been recognised for the estimated Employers’ National Insurance liability of £66,388. This includes £12,113 in respect of interest accrued on the outstanding liabilities. The total amount of £66,388 has been recognised as an exceptional item in the profit and loss account for the period.

HM Revenue & Customs (HMRC) have been notified of this matter, and the company is cooperating fully to ensure full compliance going forward.

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