PERSONETICS TECHNOLOGIES (UK) LTD Accounts






PERSONETICS TECHNOLOGIES (UK) LTD
Audited accounts
	Company No. 09593613
		Information for Filing with The Registrar
		31 December 2024

The Directors present their report and the accounts for the year ended 31 December 2024.

Principal activities
The principal activity of the company during the year under review was provision of digital consumer banking solutions.




Directors

The Directors who served at any time during the year were as follows:

Y. Cheifetz
D. Govrin
S. Levy
D. Sosna
A. Zeevi






































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D. Govrin
Company Secretary
30 September 2025

at	31 December 2024
Company No.		09593613	Notes	2024	2023
				£	£
Fixed assets

	Tangible assets		4	2,476	4,531


				2,476	4,531
Current assets

	Debtors		5	1,330,057	2,404,724

	Cash at bank and in hand			1,185,724	444,038
				2,515,781	2,848,762
Creditors: Amount falling due within one year			6	(2,231,466)	(2,765,624)
Net current assets				284,315	83,138
Total assets less current liabilities				286,791	87,669




Net assets				286,791	87,669

Capital and reserves
	Called up share capital			1	1

	Other reserves			253,159	100,307

	Profit and loss account		8	33,631	(12,639)

Total equity				286,791	87,669



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 30 September 2025 and signed on its behalf by:





D. Govrin
30 September 2025

for the year ended 31 December 2024

General information

PERSONETICS TECHNOLOGIES (UK) LTD is a private company limited by shares and incorporated in England and Wales.

The company's registered number is: 09593613

The address of the company's registered office is:

201 Haverstock Hill

Second Floor FKGB

London

NW3 4QG

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.

Going concern

These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly, the directors have a reasonable expectation that the company will continue in operational existence and therefore, they continue to adopt the going concern basis of accounting to prepare the financial statements.

Accounting policies

Turnover

The company measures revenue at the fair value of the consideration received or receivable. The fair
value of the consideration received or receivable takes into account the amount of any trade discounts,
prompt settlement discounts and volume rebates allowed by the entity.

The company recognises fees paid for the use of the company’s software in accordance with the
substance of the agreement.

The assignment of rights for a fixed fee or non-refundable guarantee under a non-cancellable contract
that permits the licensee to exploit those rights freely and the company has no remaining obligations to
perform, is recognised at the time of the sale in full.

The company recognises services that are performed over a specified period of time on a straight-line
basis.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

15-33% Straight line

Taxation

Tax is recognised in profit or loss, except where the charge is attributable to an item of income or
expense recognised in other comprehensive income, or to an item recognised directly in equity. In such
cases, the tax is also recognised in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated based on tax rates and legislation enacted or substantively
enacted by the reporting date in the jurisdictions where the company operates and earns income.

Deferred tax balances are recognised for all timing differences that have arisen but not reversed by the
reporting date, except in the following circumstances:

- The recognition of deferred tax assets is restricted to cases where it is probable that they will be
recovered through the reversal of deferred tax liabilities or future taxable profits.
- Deferred tax balances are reversed when all conditions for retaining associated tax allowances have
been satisfied.

Deferred tax balances are not recognised for permanent differences, except in the context of business
combinations, where deferred tax is recognised on:
Differences between the fair values of assets acquired and the future tax deductions available for them;
and
Differences between the fair values of liabilities acquired and the amounts assessable for tax.
Deferred tax is determined using tax rates and legislation that have been enacted or substantively
enacted by the reporting date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Share based payments

Share-based payment arrangements in which the entity receives goods or services as consideration for its own equity instruments are accounted for as equity-settled share-based payment transactions, regardless of how the equity instruments are obtained by the entity.

The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured based on anusing an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Where the terms and conditions of options are modified before they vest, the increase in the fair value of options, measured immediately before and after the modification, is also charged to the Profit and Loss account over the remaining vesting period.

3	Employees
			2024	2023
			Number	Number
		The average monthly number of employees (including directors) during the year was:	8	7

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 January 2024	14,347	14,347
		Additions	3,167	3,167

		Transfers	6,359	6,359

		At 31 December 2024	23,873	23,873
		Depreciation
		At 1 January 2024	9,816	9,816
		Charge for the year	5,222	5,222

		Transfers	6,359	6,359

		At 31 December 2024	21,397	21,397
		Net book values
		At 31 December 2024	2,476	2,476
		At 31 December 2023	4,531	4,531

5	Debtors
			2024	2023
			£	£
		Trade debtors	1,085,970	1,358,106
		Amounts owed by group undertakings	45,270	315,202




		Other debtors	17,542	97,097
		Prepayments and accrued income	181,275	634,319
			1,330,057	2,404,724

6	Creditors:
		amounts falling due within one year
			2024	2023
				Restated
			£	£




		Trade creditors	8,460	20,532
		Amounts owed to group undertakings	468,961	1,494,785
		Taxes and social security	157,413	107,489

		Other creditors	6,495	4,796
		Accruals and deferred income	1,590,137	1,138,022
			2,231,466	2,765,624

7	Share based payments

	The company operates an employee share option plan. 80,000 options have been granted in 2024 (2023: 30,000) for shares in the company.
	Details of the share options outstanding during the year are as follows:
		Weighted average exercise price	Number	Weighted average exercise price	Number
		2024	2024	2023	2023
				Restated	Restated

	Outstanding as at beginning of year	0.83	1,051,000	0.82	1,081,000
	Granted during the year	0.89	80,000	1.49	30,000
	Cancelled during the year	1.49	(30,000)	0.89	(60,000)
	Outstanding as at the end of the year
	Outstanding as at the end of the year	0.82	1,101,000	0.83	1,051,000

			2024		2023
					Restated
			Black- scholes		Black- scholes

	Share price		0.89		1.49
	Weighted average exercise price		0.66		0.66
	Time to maturity		4.61		4.61
	Expected volatility		36.31% - 61.68%		36.31% - 61.68%
	Risk-free interest rate		0.33% - 4.68%		0.33% - 4.68%


			2024		2023
					Restated
			£		£

	Equity-settled schemes		152,852		50,908

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Prior Period Adjustment

An error relating to recognition of share based payments was identified during the year. The error has been corrected by restating the comparative figures and adjusting the opening balance of other reserves at 1 January 2024.

Consequently, other reserves increased by £100,307 and creditors decreased by £100,307 for the year ended 31 December 2023.

Related party disclosures

Transactions with related parties

The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related party disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.

Parent Company

The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:

Personetics Technologies Ltd (Israel)

The parent's registered office address is:

4 Ariel Sharon

Givatayim

Israel

5344730

Audit of the accounts

Unqualified

The auditors were: Gordon Levy Limited

The senior statutory auditor was: Gordon Levy BA, FCA