Company No: 09106941 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,932		6,909
Investments	4	86		0
		2,018		6,909
Current assets
Debtors	5	36,037		18,906
Cash at bank and in hand		27,970		3,896
		64,007		22,802
Creditors: amounts falling due within one year	6	( 183,831)		( 214,643)
Net current liabilities		(119,824)		(191,841)
Total assets less current liabilities		(117,806)		(184,932)
Net liabilities		( 117,806)		( 184,932)
Capital and reserves
Called-up share capital	7	40		40
Capital redemption reserve		20		20
Profit and loss account		( 117,866 )		( 184,992 )
Total shareholders' deficit		( 117,806)		( 184,932)

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Clever Together Lab Limited (registered number: 09106941) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A A Velkov Director

11 November 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clever Together Lab Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

At the reporting date the company had net current liabilities amounting to £119,824 and net liabilities amounting to £117,806. Current liabilities includes £81,690 due to related parties, and so the risk of these debts being called in is low, until the company is in a position to repay its debt. The company's shareholders have undertaken to provide reasonable financial support as is required to ensure the company is able to meet its working capital requirements for the foreseeable future.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is derived from the provision of services to clients and is recognised when the service is performed to the extent that it is probable that economic benefits will flow into the company and excludes value added tax.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because 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 end date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Fixed asset investments

Investments are are initially measured at cost which is normally the transaction price excluding transaction costs and subsequently measured at cost less any accumulated impairment losses. The investment is assessed for impairment at each reporting date and any impairment loss or reversal of impairment loss is recognised immediately in the income statement.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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 to realise the asset and settle the liability simultaneously.

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

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	3		6

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 July 2024	33,791		33,791
Disposals	( 22,448)		( 22,448)
At 30 June 2025	11,343		11,343
Accumulated depreciation
At 01 July 2024	26,882		26,882
Charge for the financial year	2,732		2,732
Disposals	( 20,203)		( 20,203)
At 30 June 2025	9,411		9,411
Net book value
At 30 June 2025	1,932		1,932
At 30 June 2024	6,909		6,909

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 July 2024	0
Additions	86
At 30 June 2025	86
Carrying value at 30 June 2025	86
Carrying value at 30 June 2024	0

5. Debtors

	2025		2024
	£		£
Trade debtors	17,166		0
Amounts owed by related parties	11,802		0
Corporation tax	0		4,961
Other debtors	7,069		13,945
	36,037		18,906

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	4,811		7,311
Amounts owed to related parties	8,690		0
Other taxation and social security	17,558		60,813
Other creditors	152,772		146,519
	183,831		214,643

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
40 Ordinary shares of £ 1.00 each	40		40

8. Related party transactions

The company has taken advantage of the exemption available in accordance with Section 33.1A of Financial Reporting Standard 102 whereby it has not disclosed transactions entered into between two or more members of a group as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.