1 January 2024 false No description of principal activity Taxfiler 2024.6 10500815business:PrivateLimitedCompanyLtd2024-01-012024-12-31 105008152023-12-31 105008152024-01-012024-12-31 10500815business:AuditExemptWithAccountantsReport2024-01-012024-12-31 10500815business:FilletedAccounts2024-01-012024-12-31 105008152024-12-31 10500815business:Director12024-01-012024-12-31 10500815business:Director22024-01-012024-12-31 10500815business:Director42024-01-012024-12-31 10500815business:Director52024-01-012024-12-31 10500815business:RegisteredOffice2024-01-012024-12-31 105008152023-12-31 10500815core:WithinOneYear2024-12-31 10500815core:WithinOneYear2023-12-31 10500815core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 10500815core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10500815core:SharePremiumcore:PreviouslyStatedAmount2024-12-31 10500815core:SharePremiumcore:PreviouslyStatedAmount2023-12-31 10500815core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 10500815core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10500815core:PreviouslyStatedAmount2024-12-31 10500815core:PreviouslyStatedAmount2023-12-31 10500815business:SmallEntities2024-01-012024-12-31 10500815countries:EnglandWales2024-01-012024-12-31 10500815core:ComputerEquipment2024-01-012024-12-31 10500815core:IntangibleAssetsOtherThanGoodwill2023-12-31 10500815core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-31 10500815core:IntangibleAssetsOtherThanGoodwill2024-12-31 10500815core:ComputerEquipment2023-12-31 10500815core:ComputerEquipment2024-12-31 105008152023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. 10500815 (England and Wales)
Observe Technologies Limited Filleted accounts for the year ended 31 December 2024
Observe Technologies Limited Filleted accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Observe Technologies Limited Company Information for the year ended 31 December 2024
Directors
Hemang Rishi Pieter Fabry Asle Kjetil Bratteli Ronny Meinkohn
Company Number
10500815 (England and Wales)
Registered Office
36 Paradise Road Richmond TW9 1SE
Accountants
Bright Sterling Ltd 53 Sheen Lane LONDON SW14 8AB
- 3 -
Observe Technologies Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
1,025,534 
777,140 
Tangible assets
5
6,320 
7,779 
Investments
6
1 
1 
1,031,855 
784,920 
Current assets
Debtors
7
250,740 
405,394 
Cash at bank and in hand
641,419 
490,702 
892,159 
896,096 
Creditors: amounts falling due within one year
8
(109,244)
(154,819)
Net current assets
782,915 
741,277 
Net assets
1,814,770 
1,526,197 
Capital and reserves
Called up share capital
129 
129 
Share premium
1,795,958 
1,795,958 
Profit and loss account
18,683 
(269,890)
Shareholders' funds
1,814,770 
1,526,197 
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by
Hemang Rishi Director Company Registration No. 10500815
- 4 -
Observe Technologies Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Observe Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 10500815. The registered office is 36 Paradise Road, Richmond, TW9 1SE.
2
Compliance with accounting standards
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been applied consistently. Any policy changes from previous years have been disclosed through the relevant notes.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Comparative figures
Company's accounting period was extended to 31 December 2022 during the period. The current year accounts are made up of 12 months, the comparative figures are made up of 13 months period.
Presentation currency
The accounts are presented in £ sterling.
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:
Computer equipment
25% Reducing Balance
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets
Intangible fixed assets (including development expenditure and payments to acquire patents) are included at cost less accumulated amortisation. The Intangible assets are amortised over their useful economic life of 5 years on a straight line basis.
- 5 -
Observe Technologies Limited Notes to the Accounts for the year ended 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
1,086,896 
Additions
582,217 
At 31 December 2024
1,669,113 
Amortisation
At 1 January 2024
309,756 
Charge for the year
333,823 
At 31 December 2024
643,579 
Net book value
At 31 December 2024
1,025,534 
At 31 December 2023
777,140 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2024
35,787 
Additions
648 
At 31 December 2024
36,435 
Depreciation
At 1 January 2024
28,008 
Charge for the year
2,107 
At 31 December 2024
30,115 
Net book value
At 31 December 2024
6,320 
At 31 December 2023
7,779 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2024
1 
Valuation at 31 December 2024
1 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
169,858 
138,372 
Amounts due from group undertakings etc.
9,675 
9,675 
Other debtors
71,207 
257,347 
250,740 
405,394 
- 6 -
Observe Technologies Limited Notes to the Accounts for the year ended 31 December 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
9,090 
(3,063)
Trade creditors
56,077 
77,541 
Taxes and social security
15,820 
30,671 
Other creditors
11,614 
8,473 
Loans from directors
6,987 
41,197 
Accruals
9,656 
- 
109,244 
154,819 
9
Controlling party
Observe Technologies Ltd is a fully owned subsidiary of AKVA GROUP ASA, Company registered in Norway.
10
Average number of employees
During the year the average number of employees was 13 (2023: 13).
- 7 -