Company No: 11591373 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	957,808		624,024
Tangible assets	4	425		566
		958,233		624,590
Current assets
Debtors	5	78,404		173,019
Cash at bank and in hand		243,224		0
		321,628		173,019
Creditors: amounts falling due within one year	6	( 1,156,938)		( 788,978)
Net current liabilities		(835,310)		(615,959)
Total assets less current liabilities		122,923		8,631
Creditors: amounts falling due after more than one year	7	( 28,343)		( 46,901)
Provision for liabilities	8	( 222,170)		( 118,564)
Net liabilities		( 127,590)		( 156,834)
Capital and reserves
Called-up share capital	9	143		143
Share premium account		77,492		77,492
Profit and loss account		( 205,225 )		( 234,469 )
Total shareholders' deficit		( 127,590)		( 156,834)

For the financial 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.

Director's responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Cimple Limited (registered number: 11591373) were approved and authorised for issue by the Director. They were signed on its behalf by:

W J A Plumptre Director

26 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cimple Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the balance sheet date the company had net liabilities of £127,590 (2023 - £156,834). The parent company, Future Arc Ventures Limited, has undertaken to provide financial support which will enable the company to continue trading and meet its financial obligations for the foreseeable future.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Turnover

Revenue comprises of fees receivable for the provision of a procurement platform for buyers and suppliers of goods and services in the public and private sector and is recognised upon completion of a tender for goods or services.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

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.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Research and Development Expenditure Credit ("RDEC")

The company received the Research and Development Expenditure Credit ("RDEC"), a significant government tax incentive. RDEC is a research and development ("R&D") tax credit incentive offered by the UK government to promote private sector investment in innovation, and is calculated as a percentage of qualifying R&D expenditure. This benefit is recorded as income included in profit before tax as a component of other operating income. The credit is taxable at the normal corporation tax rate and the charge recorded in current tax expense. Amounts due to the company can be offset against the company tax liability or, in some circumstances, can be payable in cash. To the extent that the RDEC relates to capitalised development expenses, a corresponding deferred income credit is recognised in liabilities and released over the useful life of the capitalised asset through other operating income.

Intangible assets

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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


Change in accounting estimate

Following a review of the useful economic lives (UEL) of the development costs, development costs have been increased from 5 to 10 years. The change has been applied in the financial statements for the year ended 31 December 2024 and as a result of the change in the accounting estimate, the amortisation charge in the year has decreased from £120,429 to -£5,626.

Development costs

10 years straight line

Research and development

Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future economic benefits, and the costs can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over the anticipated life of the benefits arising from the completed product of the project.

Tangible fixed assets

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Computer equipment

5 years straight line

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 the statement of income.

Leases

The company as lessee
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.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants

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.

Business Interruption Payments made to banks on behalf of the company are treated as a Government grant and the related interest charge as an expense in the financial statements of the company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	4		6

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 January 2024	876,133		876,133
Additions	328,159		328,159
At 31 December 2024	1,204,292		1,204,292
Accumulated amortisation
At 01 January 2024	252,109		252,109
Charge for the financial year	( 5,625)		( 5,625)
At 31 December 2024	246,484		246,484
Net book value
At 31 December 2024	957,808		957,808
At 31 December 2023	624,024		624,024

4. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2024	708		708
At 31 December 2024	708		708
Accumulated depreciation
At 01 January 2024	142		142
Charge for the financial year	141		141
At 31 December 2024	283		283
Net book value
At 31 December 2024	425		425
At 31 December 2023	566		566

5. Debtors

	2024		2023
	£		£
Trade debtors	16,150		300
Amounts owed by group undertakings	135		135
Corporation tax	62,119		44,084
Other debtors	0		128,500
	78,404		173,019

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	10,397		12,857
Trade creditors	315,249		18,252
Amounts owed to group undertakings	749,806		718,842
Other taxation and social security	56,711		0
Other creditors	24,775		39,027
	1,156,938		788,978

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,413		14,811
Other creditors	23,930		32,090
	28,343		46,901

The bank loan represents amounts loaned to the company under the Bounce Back Loan Scheme. There is a fixed repayment term of six years, interest is charged at 2.5% per annum and the loan is fully guaranteed by the UK Government.

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	222,170		118,564

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
14,275 Ordinary shares of £ 0.01 each	143		143