REGISTERED NUMBER: 09476244 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

FIFTY TECHNOLOGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Shaw

J C Scott

A Shaw

A C Abrahams

REGISTERED OFFICE:

Ground Floor

24 Hanover Square

London

W1S 1JD

REGISTERED NUMBER:

09476244 (England and Wales)

ACCOUNTANTS:

Brown McLeod Limited

Chartered Accountants

The Old Workshop

1 Ecclesall Road South

Sheffield

South Yorkshire

S11 9PA

FIXED ASSETS

Intangible assets

4

598,878

437,391

Tangible assets

5

95,235

118,055

Investments

6

8

8

694,121

555,454

CURRENT ASSETS

Debtors

7

1,953,709

1,677,389

Cash at bank

829,709

2,433,102

2,783,418

4,110,491

CREDITORS

Amounts falling due within one year

8

2,994,721

2,243,068

NET CURRENT (LIABILITIES)/ASSETS

(211,303

)

1,867,423

TOTAL ASSETS LESS CURRENT LIABILITIES

482,818

2,422,877

CREDITORS

Amounts falling due after more than one year

9

657,170

971,444

NET (LIABILITIES)/ASSETS

(174,352

)

1,451,433

CAPITAL AND RESERVES

Called up share capital

531

531

Share premium

6,985,898

6,985,898

Retained earnings

(7,160,781

)

(5,534,996

)

SHAREHOLDERS' FUNDS

(174,352

)

1,451,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 28 July 2025 and were signed on its behalf by:

S M Shaw - Director

1.	STATUTORY INFORMATION

Fifty Technology 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

33% on reducing balance

Computer equipment - 25% reducing balance

Plant & machinery etc. - 25% reducing balance

Financial instruments

Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

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.

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.

Going concern

The directors have assessed the company's financial position and are satisfied that it is well-positioned, with sufficient financial support to continue trading for the foreseeable future. This is supported by the ongoing commitment of the company's venture capital fund and the enhanced financial flexibility resulting from the restructuring of the company's debt facilities with its corporate banking partner. Accordingly, the directors do not consider there to be a going concern issue, and the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

30,000

595,999

625,999

Additions

-

529,999

529,999

At 31 December 2024

30,000

1,125,998

1,155,998

AMORTISATION

At 1 January 2024

13,250

175,358

188,608

Charge for year

1,500

367,012

368,512

At 31 December 2024

14,750

542,370

557,120

NET BOOK VALUE

At 31 December 2024

15,250

583,628

598,878

At 31 December 2023

16,750

420,641

437,391

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

135,520

157,384

292,904

Additions

-

14,742

14,742

At 31 December 2024

135,520

172,126

307,646

DEPRECIATION

At 1 January 2024

83,168

91,681

174,849

Charge for year

17,450

20,112

37,562

At 31 December 2024

100,618

111,793

212,411

NET BOOK VALUE

At 31 December 2024

34,902

60,333

95,235

At 31 December 2023

52,352

65,703

118,055

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

8

NET BOOK VALUE

At 31 December 2024

8

At 31 December 2023

8

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,523,726

1,367,904

Other debtors

429,983

309,485

1,953,709

1,677,389

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

226

2,287

Trade creditors

1,037,895

654,590

Taxation and social security

115,942

232,050

Other creditors

1,840,658

1,354,141

2,994,721

2,243,068

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

657,170

971,444

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

S M Shaw

Balance outstanding at start of year

5,614

15,146

Amounts advanced

26,413

20,636

Amounts repaid

(5,039

)

(30,168

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

26,988

5,614