1.
General Information
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
02688973
. The registered office is Commercial House 80 High Street, Eton, Windsor, Berkshire, SL4 6AF.
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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.4.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.
Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.
Goodwill is amortised over its expected useful life not exceeding ten years.
Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.
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:
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
2.7.
Investments
Investments in subsidiaries are stated at cost less provision for impairment. Where indicators of impairment exist, the carrying amount of the investment is tested against its recoverable amount, being the higher of fair value less costs to sell and value in use. Any excess of carrying amount over recoverable amount is recognised as an impairment loss in the profit and loss account.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
2.8.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.9.
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.
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.10.
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 operating profit.
2.11.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Turnover
Analysis of turnover by geographical market is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| 66,669,609 | 37,553,202 | ||
4.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | (13,808) | 42,203 | |
| Depreciation of tangible fixed assets |
|
|
|
| Impairment losses - intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
7.
Average Number of Employees
Group
Average number of employees, including directors, during the year was: 21 (2024: 19)
Company
Average number of employees, including directors, during the year was: 21 (2024: 19)
8.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
9.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Other interest receivable | 143,198 | 18,521 | |
| Dividends from other fixed asset investments - listed | 7,557 | 4,276 | |
| Interest from other fixed asset investments - listed | 1,022 | 499 | |
| 159,180 | 23,296 | ||
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Interest payable on other loans |
|
|
|
| 211 | 696 | ||
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
11.
Tax on Profit
|
The tax charge on the profit for the year was as follows:
|
|||||
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Prior period adjustment |
( |
|
|||
|
|
|
||||
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
|
|
|||
|
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Profit before tax | 190,306 | 1,002,246 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
|
|
|||
| Prior period adjustment |
( |
|
|||
| Difference in tax rates |
( |
|
|||
| Deferred tax from unrecognised tax loss or credit |
( |
|
|||
| Revenue exempt from taxation |
|
|
|||
| Total tax charge for the period | 74,064 | 266,482 | |||
12.
Intangible Assets
Group
Company
| Goodwill | Other Intangible Investments | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost or Valuation | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| Revaluations |
|
( |
( |
| Disposals |
|
( |
( |
| As at 31 March 2025 |
|
|
|
| Amortisation | |||
| As at 1 April 2024 |
|
|
|
| Impairment losses |
|
|
|
| As at 31 March 2025 |
|
|
|
...CONTINUED
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
| Other Intangible Investments | |||
|---|---|---|---|
| £ | |||
| Cost or Valuation | |||
| As at 1 April 2024 |
|
||
| Revaluations |
( |
||
| Disposals |
( |
||
| As at 31 March 2025 |
|
||
| Net Book Value | |||
| As at 31 March 2025 |
|
||
| As at 1 April 2024 |
|
||
During the year, the company disposed of significant holdings in digital assets. At the year end, the net book value of such assets amounted to £2,423 (2024: £1,042,818).
Digital assets are measured at revalued amounts where an active market exists, less any subsequent impairment losses. Given the inherent volatility of these markets, the carrying value at the year end may differ materially from amounts realised on future disposal.
Historic cost equivalent
If the investments had been accounted for under the historic cost accounting rules, they would have been measured at £20,982 (2024: £691,552).
13.
Tangible Assets
Group
Company
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 April 2024 |
|
|
|
|
| Additions |
|
|
|
|
| Other |
|
|
|
|
| As at 31 March 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 April 2024 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Other |
|
|
|
|
| As at 31 March 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 March 2025 |
|
|
|
|
| As at 1 April 2024 |
|
|
|
|
The amounts shown within ‘Other cost’ and ‘Other depreciation’ for Fixtures and Fittings represent the values brought into the Group on acquisition of the subsidiary
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| As at 31 March 2025 |
|
|
|
| Depreciation | |||
| As at 1 April 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
14.
Investments
Group
Company
| Listed | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2024 |
|
| Additions |
|
| Disposals |
( |
| Revaluations |
( |
| Other |
|
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
| Subsidiaries | Listed | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| Disposals |
|
( |
( |
| Revaluations |
|
( |
( |
| As at 31 March 2025 |
|
|
|
...CONTINUED
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Provision | |||
| As at 1 April 2024 |
|
|
- |
| Impairment losses |
|
|
|
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
Subsidiaries
Details of the group's subsidiaries as at 31 March 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
80 High Street Eton, Eton, Windsor, United Kingdom, SL4 6AF |
|
|
- |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| Darq Studios Limited |
|
|
In the parent company’s financial statements, investments in subsidiaries are stated at cost less provision for impairment.
In the consolidated financial statements, the investment in the subsidiary undertaking has been eliminated against the fair value of the net assets acquired at the date of acquisition. The excess of consideration over the fair value of net assets acquired has been recognised as goodwill
At the balance sheet date, the net assets of the subsidiary undertaking consolidated within the group accounts amounted to £26,394, comprising share capital of £1,000, pre-acquisition reserves of £19,062, and post-acquisition profits of £6,332.
Under section 479C of the Companies Act 2006,
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
, registration number
02688973
, being the parent undertaking has guaranteed the liabilities of the following subsidiaries in order that they qualify for the exemption from audit under section 479A of the Companies Act 2006 in respect of the year ended 31 March 2025:
| Name of undertaking | Registered Number |
|---|---|
|
|
09498116 |
15.
Stocks
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Stock |
|
|
|
|
|||
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
16.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Prepayments and accrued income |
|
|
|
|
|||
| Other debtors |
|
|
|
|
|||
| Deferred tax current asset | 93,534 | 73,624 | 93,534 | 73,624 | |||
| VAT |
|
|
|
|
|||
|
|
|
|
|
||||
17.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Trade creditors |
|
|
|
|
|||
| Bank loans and overdrafts | - |
|
|
|
|||
| Other loans |
|
|
|
|
|||
| Payments on account |
|
|
|
|
|||
| Other creditors | 609,737 | 895,284 | 581,825 | 895,284 | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 77,741 | 30,995 | 77,741 | 30,995 | |||
| Accruals and deferred income | 14,734,004 | 6,951,992 | 14,729,954 | 6,951,992 | |||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due After More Than One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Bank loans |
|
|
|
|
|||
19.
Loans
An analysis of the maturity of loans is given below:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due within one year or on demand: | |||||||
| Bank loans | - |
|
|
|
|||
| Other loans |
|
|
|
|
|||
|
|
|
|
|
||||
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due between one and five years: | |||||||
| Bank loans | - |
|
|
|
|||
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
20.
Provisions for Liabilities
| Group | |||
|---|---|---|---|
| Deferred Tax | Other Provisions | Total | |
| £ | £ | £ | |
| As at 1 April 2024 |
( |
|
390,751 |
| Additions |
|
|
36,270 |
| Reversals |
|
( |
(412,445) |
| Deferred taxation |
( |
- |
( |
| Balance at 31 March 2025 |
( |
|
(5,334) |
| Company | |||
|---|---|---|---|
| Deferred Tax | Other Provisions | Total | |
| £ | £ | £ | |
| As at 1 April 2024 |
( |
|
390,751 |
| Additions |
|
|
36,270 |
| Reversals |
|
( |
(412,445) |
| Deferred taxation |
( |
- |
( |
| Balance at 31 March 2025 |
( |
|
(5,334) |
Other provisions comprise amounts provided in respect of clawback obligations under contractual arrangements. During the year, the directors revised the expected clawback period from five years to two years. As a result, part of the brought-forward provision was released, reflecting the reduced expected exposure.
21.
Share Capital
|
Alloted, called up and fully paid
|
2025
|
2024
|
|
|
£
|
£
|
||
|
3,350,000 (2024 - 3,350,000) ordinary shares of £0.01 each
|
33,500
|
33,500
|
|
|
500,000 (2024 - 500,000) ordinary A shares of £0.01 each
|
5,000
|
5,000
|
|
|
350,000 (2024 - 350,000) ordinary B shares of £0.01 each
|
3,500
|
3,500
|
|
|
100,000 (2024 - 100,000) ordinary C shares of £0.01 each
|
1,000
|
1,000
|
|
|
100,000 (2024 - 100,000) ordinary D shares of £0.01 each
|
1,000
|
1,000
|
|
|
100,000 (2024 - 100,000) ordinary E shares of £0.01 each
|
1,000
|
1,000
|
|
|
50,000 (2024 - 50,000) ordinary F shares of £0.01 each
|
500
|
500
|
|
|
50,000 (2024 - 50,000) ordinary G shares of £0.01 each
|
500
|
500
|
|
|
50,000 (2024 - 50,000) ordinary H shares of £0.01 each
|
500
|
500
|
|
|
50,000 (2024 - 50,000) ordinary I shares of £0.01 each
|
500
|
500
|
|
|
50,000 (2024 - 50,000) ordinary J shares of £0.01 each
|
500
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
500
|
|
|
47,500
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
47,500
|
ADVANCED DEMAND SIDE MANAGEMENT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
22.
Financial Instruments
The Group’s financial instruments comprise cash, trade receivables, trade payables and, where applicable, borrowings. The Group’s principal financial instruments arise directly from its operations.
The main risks from the Group’s financial instruments are credit risk, liquidity risk and market risk. The board reviews and agrees policies for managing each of these risks as summarised below.
Credit risk – The Group monitors credit risk arising from trade receivables through regular review of debtor balances and by maintaining appropriate provisions against amounts considered irrecoverable.
Liquidity risk – The Group ensures that sufficient cash and committed facilities are available to meet foreseeable needs by regularly reviewing cash flow forecasts.
Market risk – The Group is not exposed to significant interest rate or currency risk.
Digital assets
The Group also holds other intangible investments in the form of digital assets (see Note 12). Although these are not financial instruments as defined by FRS 102, they are subject to similar risks, including volatility in market prices, liquidity risk, and custody/operational risks. The directors monitor these risks and apply appropriate controls to mitigate them.
23.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
|
|
|
|
|||
| Later than one year and not later than five years |
|
|
|
|
|||
|
|
|
|
|
||||
24.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £94,727 (2024: £26,290).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
25.
Related Party Disclosures
During the year the Group had transactions and balances with related parties as set out below:
Employee Benefit Trust
During the year, the Group operated a loan account with ADSM Employee Benefit Trust, a trust whose trustee is under common control with the Company. An amount of £300,000 was repaid during the year. The balance due from the trust at the year end, included in debtors, was £56,557 (2024 - £356,557). This loan is interest free, is unsecured and repayable on demand.
Entity under common control
During the year, the Group operated a loan account with Water Forensics Limited. A director of the Company is a majority shareholder in Water Forensics Limited, and accordingly the company is considered a related party. At the balance sheet date the amount payable to Water Foresnics Limited was £120,597 (2024 receivable: £55,785) The loan is interest free, unsecured and repayable on demand.
During the year the Group received services from Water Forensics Limited of £876,219. The amount due to them at the year end included in creditors was £276,513 (2024 - £NIL)
Key management personnel
The Group operated a loan account with Mr. P. McCart, one of the director's of the Company. The amount payable to the director, included in creditors was £172,440 (2024 - £144,125 ). The loan is interest free, unsecured and repayable on demand.
All transactions with related parties were conducted on normal commerical terms.