Apian Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Apian Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12578044 . The registered office is Apian, 2-6 Boundary Row, Southwark, SE1 8HP.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

The financial period was lengthened from 30 April 2024 to 31 October 2024 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future.

The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. 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:

Plant & Machinery	3 years straight line
Computer Equipment	4 years straight line

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.6. 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 balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of 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

Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.

Trade creditors 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.

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Apian Limited

Notes to the Financial Statements (continued)

For the Period 1 May 2023 to 31 October 2024

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.

2.8. Taxation

Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive 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.

2.9. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

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.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.11. Research and Development

In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.12. Share Based Payments

The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 18 (2023: 12)

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Apian Limited

Notes to the Financial Statements (continued)

For the Period 1 May 2023 to 31 October 2024

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2023	-	32,588	32,588
Additions	2,463	16,682	19,145

As at 31 October 2024	2,463	49,270	51,733

Depreciation
As at 1 May 2023	-	11,554	11,554
Provided during the period	274	15,556	15,830

As at 31 October 2024	274	27,110	27,384

Net Book Value
As at 31 October 2024	2,189	22,160	24,349

As at 1 May 2023	-	21,034	21,034

5. Debtors

	31 October 2024	30 April 2023 as restated
	£	£
Due within one year
Prepayments and accrued income	295,473	-
Other debtors	17,590	-
Corporation tax recoverable assets	499,013	-
VAT	12,780	54,586
Net wages	2,835	85

	827,691	54,671

6. Creditors: Amounts Falling Due Within One Year

	31 October 2024	30 April 2023 as restated
	£	£
Trade creditors	96,149	48,349
Other creditors	359,528	1,155,665
Taxation and social security	49,506	27,351

	505,183	1,231,365

7. Share Capital

	31 October 2024	30 April 2023 as restated
	£	£
Allotted, Called up and fully paid	3	3

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Apian Limited

Notes to the Financial Statements (continued)

For the Period 1 May 2023 to 31 October 2024

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 October 2024	30 April 2023 as restated
	£	£
Not later than one year	25,248	-

	25,248	-

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		31 October 2024		30 April 2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		24,349		21,034

			24,349		21,034
CURRENT ASSETS
Debtors	5	827,691		54,671
Cash at bank and in hand		1,550,213		4,755,687

		2,377,904		4,810,358
Creditors: Amounts Falling Due Within One Year	6	(505,183 )		(1,231,365 )

NET CURRENT ASSETS (LIABILITIES)			1,872,721		3,578,993

TOTAL ASSETS LESS CURRENT LIABILITIES			1,897,070		3,600,027

NET ASSETS			1,897,070		3,600,027

CAPITAL AND RESERVES
Called up share capital	7		3		3
Share premium account			4,999,933		4,779,961
Fair value reserve			618,696		-
Profit and Loss Account			(3,721,562 )		(1,179,937 )

SHAREHOLDERS' FUNDS			1,897,070		3,600,027