Company Registration No. 09113540 (England and Wales)
BalRe Technologies Ltd
Filleted accounts
for the year ended 31 December 2024
BalRe Technologies Ltd
Filleted accounts
Contents
BalRe Technologies Ltd
Company Information
for the year ended 31 December 2024
Directors
Mr Lucian Rautu
Mr Michel Gauer
Prof. Dr. H.C. Roland Berger
Mr Guenter Ehweiner
Company Number
09113540 (England and Wales)
Registered Office
Unit 6, 102 Camley Street
London
N1C 4PF
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
BalRe Technologies Ltd
Statement of financial position
as at 31 December 2024
Intangible assets
-
90,266
Cash at bank and in hand
230,883
2,106,483
Creditors: amounts falling due within one year
(56,595)
(4,531,626)
Net current assets/(liabilities)
176,816
(1,338,049)
Net assets
176,816
6,061,821
Called up share capital
288
288
Share premium
9,272,603
9,272,603
Profit and loss account
(9,096,075)
(3,211,070)
Shareholders' funds
176,816
6,061,821
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by
Mr Lucian Rautu
Director
Company Registration No. 09113540
BalRe Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2024
BalRe Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 09113540. The registered office is Unit 6, 102 Camley Street, London, N1C 4PF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A - Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Expenditure on research and development is written off in the year in which it is incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in subsidiary undertakings are included at cost
BalRe Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Intangible fixed assets
Goodwill
At 31 December 2024
145,256
Charge for the year
34,930
At 31 December 2024
145,256
At 31 December 2023
90,266
5
Investments
Other investments
Valuation at 1 January 2024
7,309,604
Fair value adjustments
(3,916,808)
Valuation at 31 December 2024
-
Investments made up as follows:
100% share capital of by Scale ALM Ltd
100% share capital of Balance Re AG
Amounts falling due within one year
Accrued income and prepayments
148
152
Other debtors
2,380
14,668
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
39,441
44,211
Amounts owed to group undertakings and other participating interests
-
189
Taxes and social security
4,102
2,058
Other creditors
9,709
4,485,168
BalRe Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
1,515,150 Ordinary shares (Pre-Seed Shares) of £0.000096 each
145.45
145.45
308,763 Ordinary shares (Seed Shares) of £0.000089 each
27.47
27.47
79,500 Ordinary shares (Hurdle Shares) of £0.000089 each
7.07
7.07
17,507 Ordinary shares (Pre-Seed Shares) of £0.0001 each
1.75
1.75
10,493 Ordinary shares (Seed Shares) of £0.000101 each
1.05
1.05
1,091,580 Ordinary Shares (Series A Shares) of £0.000096 each
104.79
104.79
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).