Tickitto Ai Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Tickitto Ai Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11021551 . The registered office is University Of Bath, Innovation Centre Carpenter House, Broad Quay, Bath, BA1 1UD.

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.

2.2. Going Concern Disclosure

The directors have prepared the financial statements on a going concern basis despite the companyhaving negative retained earnings at the reporting date.

The directors have obtained past investment as shown within share premium and investment has not yet been secured since the year end but currently in the fundraising process and have in principle commitments. At the time of signing, the directors are confident that the company is a going concern and the accounts have been prepared on this basis.

2.3. Significant judgements and estimations

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.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue is recognised when services are rendered.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Other intangible assets 25% straight line

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:

Fixtures & Fittings	33% Straight Line
Computer Equipment	33% Straight Line

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Tickitto Ai Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised

2.8. 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 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.

2.9. Research and Development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when It is technically feasible to complete the intangible asset so that it will be available for use or sale; there is the intention to complete the intangible asset and use or sell it; there is the ability to use or sell the intangible asset; the use or sale of the intangible asset will generate probable future economic benefits; there are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and the expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

2.10. Defined Contribution Plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2023: 14)

4. Intangible Assets

	Other
	£
Cost
As at 1 November 2023	53,953

As at 31 October 2024	53,953

Amortisation
As at 1 November 2023	11,560
Provided during the period	13,488

As at 31 October 2024	25,048

Net Book Value
As at 31 October 2024	28,905

As at 1 November 2023	42,393

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Tickitto Ai Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 November 2023	650	14,745	15,395
Additions	-	1,068	1,068

As at 31 October 2024	650	15,813	16,463

Depreciation
As at 1 November 2023	167	6,558	6,725
Provided during the period	182	4,784	4,966

As at 31 October 2024	349	11,342	11,691

Net Book Value
As at 31 October 2024	301	4,471	4,772

As at 1 November 2023	483	8,187	8,670

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	80,676	10,101
Amounts owed by group undertakings	44,685	154,599
Other debtors	248,817	395,342

	374,178	560,042

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	579,375	279,180
Bank loans and overdrafts	980	598
Other creditors	127,280	38,369
Taxation and social security	18,707	21,970

	726,342	340,117

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2,111	2,054

CALLED UP SHARE CAPITAL

All types of share capital issued have attached to them full voting rights and full dividend rights. They do not confer any rights of redemption.

Ordinary and Ordinary A shares have capital distribution rights limited to pro rata rights in proportion to the total number of ordinary shares.

Seed shares have capital distribution rights limited to the better of non participating return of capital rights (including on wind up) and pro rata rights in proportion to the total number of ordinary shares

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		28,905		42,393
Tangible Assets	5		4,772		8,670

			33,677		51,063
CURRENT ASSETS
Debtors	6	374,178		560,042
Cash at bank and in hand		117,958		420,183

		492,136		980,225
Creditors: Amounts Falling Due Within One Year	7	(726,342 )		(340,117 )

NET CURRENT ASSETS (LIABILITIES)			(234,206 )		640,108

TOTAL ASSETS LESS CURRENT LIABILITIES			(200,529 )		691,171

NET (LIABILITIES)/ASSETS			(200,529 )		691,171

CAPITAL AND RESERVES
Called up share capital	8		2,111		2,054
Share premium account			4,042,144		3,739,916
Profit and Loss Account			(4,244,784 )		(3,050,799 )

SHAREHOLDERS' FUNDS			(200,529)		691,171