ACCOUNTS - Final Accounts

Registered number: 07129364

LITSAVANT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


LITSAVANT LIMITED

Company Information

Directors	Mr M J Dingle
	Ms T Hatton-Brown


Registered number	07129364


Registered office	3rd Floor
	12 Gough Square
	London
	EC4A 3DW


Accountants	Sayers Butterworth LLP
	Chartered Accountants
	3rd Floor
	12 Gough Square
	London
	EC4A 3DW


LITSAVANT LIMITED Registered number:07129364

Balance sheet

As at 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		276,853		214,036
Tangible assets	5		1,056		1,408
			277,909		215,444
Current assets
Debtors: amounts falling due within one year	6	44,902		39,962
Cash at bank and in hand		17,232		107,128
		62,134		147,090
Creditors: amounts falling due within one year	7	(95,062)		(194,456)
Net current liabilities			(32,928)		(47,366)
Total assets less current liabilities			244,981		168,078
Provisions for liabilities
Deferred tax		(39,533)		(17,672)
			(39,533)		(17,672)
Net assets			205,448		150,406

Capital and reserves
Called up share capital	8	2	2
Profit and loss account		205,446	150,404
		205,448	150,406

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LITSAVANT LIMITED Registered number:07129364

Balance sheet (continued)

As at 31 March 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2025.

Mr M J Dingle

Director

The notes on pages 3 to 9 form part of these financial statements.

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

1.	General information

LitSavant Ltd is a private company limited, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The company's principal activity is the provision of management consultancy and software sales.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover comprises revenue from software licences recognised over the period of license, and revenue from consulting services, recognised when the service is performed.

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

The company can contribute, at its discretion, payments to the personal pension plans of certain employees. When any contributions have been paid the Company has no further payment obligations.
Contributions made are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on a seven year, straight line basis.

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

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.

2.11

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.

2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.12

Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 April 2024	226,615
	Additions	105,037
	At 31 March 2025	331,652
	Amortisation
	At 1 April 2024	12,579
	Charge for the year on owned assets	42,220
	At 31 March 2025	54,799
	Net book value
	At 31 March 2025	276,853
	At 31 March 2024	214,036

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

5.	Tangible fixed assets

		Plant & machinery
		£
	Cost or valuation
	At 1 April 2024	6,908
	At 31 March 2025	6,908
	Depreciation
	At 1 April 2024	5,500
	Charge for the year on owned assets	352
	At 31 March 2025	5,852
	Net book value
	At 31 March 2025	1,056
	At 31 March 2024	1,408

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LITSAVANT LIMITED

Notes to the financial statements

For the Year Ended 31 March 2025

Debtors

					2025	2024
					£	£


Trade debtors	34,749	17,217
Other debtors	-	10,013
Prepayments and accrued income	10,153	12,732
	44,902	39,962

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	27,810	27,339
Other taxation and social security	2,469	-
Accruals and deferred income	64,783	167,117
	95,062	194,456

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2 (2024 - 2) Ordinary Shares shares of £1.00 each	2	2

9.	Transactions with directors
	During the year the company paid dividends to directors amounting to £10,000 (2024: £20,000).

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