REGISTERED NUMBER: 11218573 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Inspeerity Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTORS:

K Wiszowaty

J Grzybowski

Ms K Podolak-Kutwicka

REGISTERED OFFICE:

Beechey House

87 Church Street

Crowthorne

Berkshire

RG45 7AW

BUSINESS ADDRESS:

1 Arcadian Place

London

London

SW18 5JF

REGISTERED NUMBER:

11218573 (England and Wales)

SENIOR STATUTORY AUDITOR:

Yvonne Miles FCCA

AUDITORS:

PKB Accountants Limited

Chartered Certified Accountants

Statutory Auditor

Beechey House

87 Church Street

Crowthorne

Berkshire

RG45 7AW

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

In the year to 31st December 2024 Inspeerity Limited continued to operate as solely as a holding company owning investments in companies in the IT sector. During the year the company did not receive any dividend income on its investments.

Overheads were minimized and limited to administrative, general and accounting costs.

The vision for 2025 and beyond remains unchanged - to invest in other group companies.

Debtors within the group are carefully monitored and risk is considered low.

Main risk is performance of the market for software development services.

Change of share ownership provides strong backing from shareholders

RISK MANAGEMENT APPROACH

The company takes risks to enable it to realise its strategic, operational and financial objectives. The company understands the importance of properly functioning internal risk management and control systems in identifying and managing risks. Risk management is actively monitored and steps taken to ensure that there is risk awareness throughout the organisation. Key personnel are designated to implement the controls.

PRINCIPAL RISKS AND UNCERTAINTIES

The main principal risk to the company is its reliance on availability of funds from its fellow group companies to enable the company to continue to meet its financial obligations in the future. This exposes the company to a financial risks as described below:

Liquidity Risk

The company seeks to manage liquidity risk by ensuring that there are sufficient funds available to meet its ongoing liabilities and working capital needs. There are funds available from other group companies to assist with this. The cashflow requirements are monitored on a regular basis by management.

Credit Risk

The credit risk is the availability of continued funding from its fellow group companies.

FINANCIAL KEY PERFORMANCE INDICATORS:

The company does not have any key performance indicators due to its position as a non trading company solely reliant on funding being received from other group companies.

ON BEHALF OF THE BOARD:

J Grzybowski - Director

17 October 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

K Wiszowaty has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

J Grzybowski and Ms K Podolak-Kutwicka were appointed as directors after 31 December 2024 but prior to the date of this report.

I A Tidder and D Gorczynski ceased to be directors after 31 December 2024 but prior to the date of this report.

GOING CONCERN

The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements, the directors believe that all appropriate measures have been taken or will be taken to ensure that the company will be able to continue in operations for at least the next 12 months from the date of approval of the financial statements and consequently have prepared the financial statements on a going concern basis.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, PKB Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Grzybowski - Director

17 October 2025

Opinion

We have audited the financial statements of Inspeerity Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

. We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", Companies Act 2006, Bribery Act 2010, Money Laundering regulations and relevant tax compliance regulations in the United Kingdom.

. We understood how Inspeerity Limited is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through the review of the following documentation or completion of the following procedures:

. Review of all minutes of board meetings held during the period and through to the most recent meeting held prior to the approval of these financial statements;

. Review of accounting policies and completion of a disclosure checklist to assess compliance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Company law requirements;

. Review of any relevant correspondence with local tax authorities; and

. Review of any relevant correspondence received from regulatory bodies

. We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by holding a discussion within the audit team which included identification of related parties, understanding the company's business, the control environment and assessing the inherent risk for relevant assertions at the significant account level. We also held discussions with management and those charged with governance to gain an understanding of those areas of the financial statements which are susceptible to fraud, as identified by management. Following these procedures, we identified a risk of management override of control and risk of inappropriate revenue recognition. We gained an understanding of the entity level of controls and policies that the company applies.

Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved testing of journal entries, with focus on journals indicating large or unusual transactions, or meeting our defined risk criteria based on our understanding of the business, reviewing accounting estimates for evidence of management bias and enquiries of senior members of the management team regarding their knowledge of any instances of non-compliance with laws and regulations that could impact the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Yvonne Miles FCCA (Senior Statutory Auditor)

for and on behalf of PKB Accountants Limited

Chartered Certified Accountants

Statutory Auditor

Beechey House

87 Church Street

Crowthorne

Berkshire

RG45 7AW

3 November 2025

TURNOVER

-

-

Administrative expenses

8,648

14,551

OPERATING LOSS

5

(8,648

)

(14,551

)

Interest receivable and similar income

5,469

8,339

LOSS BEFORE TAXATION

(3,179

)

(6,212

)

Tax on loss

6

(795

)

(1,391

)

LOSS FOR THE FINANCIAL YEAR

(2,384

)

(4,821

)

LOSS FOR THE YEAR

(2,384

)

(4,821

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,384

)

(4,821

)

FIXED ASSETS

Investments

7

20,134

20,134

CURRENT ASSETS

Debtors

8

209,002

198,239

Cash at bank

285

5,759

209,287

203,998

CREDITORS

Amounts falling due within one year

9

169,042

161,369

NET CURRENT ASSETS

40,245

42,629

TOTAL ASSETS LESS CURRENT LIABILITIES

60,379

62,763

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

60,279

62,663

SHAREHOLDERS' FUNDS

60,379

62,763

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2025 and were signed on its behalf by:

J Grzybowski - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

67,484

67,584

Changes in equity

Total comprehensive income

-

(4,821

)

(4,821

)

Balance at 31 December 2023

100

62,663

62,763

Changes in equity

Total comprehensive income

-

(2,384

)

(2,384

)

Balance at 31 December 2024

100

60,279

60,379

Cash flows from operating activities

Cash generated from operations

1

(975

)

(3,123

)

Tax paid

795

(555

)

Net cash from operating activities

(180

)

(3,678

)

Cash flows from investing activities

Interest received

5,469

8,339

Net cash from investing activities

5,469

8,339

Cash flows from financing activities

Loans received from related parties

(6,263

)

148,541

Loans repaid to related

-

151,661

Loans introduced to related parties

(4,500

)

(1,391

)

Amount withdrawn by directors

-

(298,634

)

Net cash from financing activities

(10,763

)

177

(Decrease)/increase in cash and cash equivalents

(5,474

)

4,838

Cash and cash equivalents at beginning of year

2

5,759

921

Cash and cash equivalents at end of year

2

285

5,759

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Loss before taxation

(3,179

)

(6,212

)

Finance income

(5,469

)

(8,339

)

(8,648

)

(14,551

)

Increase in trade and other creditors

7,673

11,428

Cash generated from operations

(975

)

(3,123

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

285

5,759

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

5,759

921

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

5,759

(5,474

)

285

5,759

(5,474

)

285

Total

5,759

(5,474

)

285

1.	STATUTORY INFORMATION

Inspeerity Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The functional currency of the company is Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements, the directors believe that all appropriate measures have been taken or will be taken to ensure that the company will be able to continue in operations for at least the next 12 months from the date of approval of the financial statements and consequently have prepared the financial statements on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

(b) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profits differs from net profit as reported in the profit and loss account as it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred Tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or the realise the asset and settle the liability simultaneously.

Loans and Receivables

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and other receivables are measured at amortised cost using the effective interest method,less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables with no stated interest rate or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Derecognition of financial liabilities

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

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

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

4.	DIRECTORS' EMOLUMENTS

31.12.24

31.12.23

£

£

Directors' remuneration

-

-

The Directors of Inspeerity Limited did not receive any remuneration from the company. The Directors of Inspeerity Limited also serve as Directors of other companies within the group, and their remuneration is borne by those other group companies. The services provided by the Directors to Inspeerity Limited are incidental to their main employment.

5.	OPERATING LOSS

The operating loss is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Auditors' remuneration

5,160

10,200

Foreign exchange differences

-

(94

)

6.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

Group loss relief adjustment

(795

)

(1,391

)

Tax on loss

(795

)

(1,391

)

7.	FIXED ASSET INVESTMENTS

On 10 June 2024 as a result of a merger investments were re allocated to another company within the group on a like for like basis.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

209,002

198,239

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

148,541

148,541

Accruals

20,501

12,828

169,042

161,369

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

10,000

Ordinary

0.01

100

100

11.

RESERVES

Retained

earnings

£

At 1 January 2024

62,663

Deficit for the year

(2,384

)

At 31 December 2024

60,279

12.	ULTIMATE CONTROLLING PARTY

At the year end the immediate controlling party was DevelopX GmbH, a company registered in Germany.

There is no ultimate controlling party.