Measurable Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Measurable Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11403660 . The registered office is Fountain House - 8th Floor, 2 Queens Walk, Reading, Berkshire, RG1 7QF.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the

asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs Straight line over five years

Page 3

Page 4

Measurable Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

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 on a straight line basis over their expected useful economic lives of five 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 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:

Plant & Machinery	Straight line over three years
Fixtures & Fittings	Straight line over three years
Computer Equipment	Straight line over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflect current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.7. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Page 4

Page 5

Measurable Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.10. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.11. Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the reporting date. Where the effect of the time value of money is material, provisions are discounted using a pre-tax discount rate that reflects current market assessments.

2.12. Employee benefits and Share-based payments

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Share-based payments

For cash-settled share-based payments, a liability is recognised for the goods and services acquired, measured initially at the fair value of the liability. At the balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognised in profit or loss for the Period.

2.13. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 30 (2023: 25)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 January 2024	631,684
Additions	495,606

As at 31 December 2024	1,127,290

Amortisation
As at 1 January 2024	95,374
Provided during the period	201,400

As at 31 December 2024	296,774

Net Book Value
As at 31 December 2024	830,516

As at 1 January 2024	536,310

Page 5

Page 6

Measurable Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	74,579	8,253	48,634	131,466
Additions	8,935	1,751	3,883	14,569

As at 31 December 2024	83,514	10,004	52,517	146,035

Depreciation
As at 1 January 2024	26,292	2,257	21,396	49,945
Provided during the period	25,493	2,817	15,577	43,887

As at 31 December 2024	51,785	5,074	36,973	93,832

Net Book Value
As at 31 December 2024	31,729	4,930	15,544	52,203

As at 1 January 2024	48,287	5,996	27,238	81,521

6. Stocks

	31 December 2024	31 December 2023
	£	£
Stock	647,623	689,520

7. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	277,528	62,187
Other debtors	164,165	65,516

	441,693	127,703

8. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	28,281	62,520
Other creditors	790,705	89,025
Taxation and social security	83,211	(29,891 )

	902,197	121,654

9. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	4	3

Page 6

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		830,516		536,310
Tangible Assets	5		52,203		81,521

			882,719		617,831
CURRENT ASSETS
Stocks	6	647,623		689,520
Debtors	7	441,693		127,703
Cash at bank and in hand		3,589,921		1,899,865

		4,679,237		2,717,088
Creditors: Amounts Falling Due Within One Year	8	(902,197 )		(121,654 )

NET CURRENT ASSETS (LIABILITIES)			3,777,040		2,595,434

TOTAL ASSETS LESS CURRENT LIABILITIES			4,659,759		3,213,265

NET ASSETS			4,659,759		3,213,265

CAPITAL AND RESERVES
Called up share capital	9		4		3
Share premium account			9,994,614		6,049,780
Equity reserve			145,248		117,541
Profit and Loss Account			(5,480,107 )		(2,954,059 )

SHAREHOLDERS' FUNDS			4,659,759		3,213,265