REGISTERED NUMBER: 11423544 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

SMARTER CONTRACTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E S Lloyd

W T Lloyd

N Patel

J P Radley

REGISTERED OFFICE:

86-90 Paul Street

3rd Floor, London

London

EC2A 4NE

REGISTERED NUMBER:

11423544 (England and Wales)

ACCOUNTANTS:

Factotum Group LLP

85 Great Portland Street

London

W1W 7LT

FIXED ASSETS

Intangible assets

4

399,642

381,172

Tangible assets

5

10,187

11,953

409,829

393,125

CURRENT ASSETS

Debtors

6

59,007

31,325

Cash at bank

19,964

74,831

78,971

106,156

CREDITORS

Amounts falling due within one year

7

226,858

257,039

NET CURRENT LIABILITIES

(147,887

)

(150,883

)

TOTAL ASSETS LESS CURRENT LIABILITIES

261,942

242,242

CAPITAL AND RESERVES

Called up share capital

8

107

105

Share premium

1,938,314

1,471,215

Shares Pending Allotment

631,859

-

Retained earnings

(2,308,338

)

(1,229,078

)

SHAREHOLDERS' FUNDS

261,942

242,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th October 2025 and were signed on its behalf by:

W T Lloyd - Director

1.	Statutory information

Smarter Contracts Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Smarter Contracts Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt underSection 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on Straight line method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 7 (2023 - 5 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1st January 2024

479,988

Additions

70,886

At 31st December 2024

550,874

Amortisation

At 1st January 2024

98,816

Charge for year

52,416

At 31st December 2024

151,232

Net book value

At 31st December 2024

399,642

At 31st December 2023

381,172

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1st January 2024

17,406

Additions

3,845

At 31st December 2024

21,251

Depreciation

At 1st January 2024

5,453

Charge for year

5,611

At 31st December 2024

11,064

Net book value

At 31st December 2024

10,187

At 31st December 2023

11,953

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

11,880

-

Other debtors

47,127

31,325

59,007

31,325

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

166,399

31,225

Taxation and social security

12,488

43,478

Other creditors

47,971

182,336

226,858

257,039

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,017,045

A Ordinary

£0.0001

102

100

53,500

B Ordinary Shares

£0.0001

5

5

107

105

During the year, 15,345 A Ordinary shares of £0.0001 each were allotted as fully paid at a share premium.

9.	Shares pending allotment

As at the balance sheet date, the company had received £631,859 from investors in respect of new ordinary shares to be issued. The shares had not yet been formally allotted, and accordingly, the amount has been included within equity. Subsequent to the year-end, on 14 March 2025, the company allotted the subscribed shares.

10.	Subsidiary company

The Company acquired during the Financial Year a wholly owned subsidiary company whose details are as follows:

Name of Company: Smarter Contracts Ltd BVI

Country of Incorporation: British Virgin Islands

Proportion of Share Capital owned: 100%

The Company did not make any Profit/Loss during the period and there are no reserves at the Balance Sheet date.

The Company has availed itself of the provision not to consolidate the results of the subsidiary under CA 2006 s.399(2A) on the grounds that it qualifies as a small group