| Pure ID Labs Ltd |
| Registered number: |
12374055 |
| Directors' Report |
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| The directors present their report and accounts for the year ended 31 December 2024. |
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| Principal activities |
| The company's principal activity during the year continued to be software development. |
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| Directors |
| The following persons served as directors during the year: |
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Ajitkumar Dhanraj Hatti |
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Sumit Siddarth (resigned 02 April 2024) |
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| Political donations |
| The company has not made any political donations during the year |
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| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
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| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts 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 accounts, the directors are required to: |
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select suitable accounting policies and then apply them consistently; |
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make judgements and estimates that are reasonable and prudent; |
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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| 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 accounts 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. |
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| Disclosure of information to auditors |
| Each person who was a director at the time this report was approved confirms that: |
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so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and |
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he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. |
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| Auditors |
| The auditors, Makesworth Audit Services Ltd, are deemed to be reappointed under section 487(2) of the Companies Act 2006 |
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| This report was approved by the board on 29 December 2025 and signed on its behalf. |
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| Ajitkumar Dhanraj Hatti |
|
| Director |
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| 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 Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts 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. |
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| Conclusions relating to going concern |
| In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts 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 accounts 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. |
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| Other information |
| The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of 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 accounts 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. |
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| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and |
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the directors’ report has been prepared in accordance with applicable legal requirements. |
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| Matters on which we are required to report by exception |
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| Responsibilities of directors |
| As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. |
| In preparing the accounts, 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. |
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| Auditor’s responsibilities for the audit of the accounts |
| Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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 accounts. |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| [Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.] |
| A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. |
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| 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 an auditor's report 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. |
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| Indra Raj Giri |
| (Senior Statutory Auditor) |
|
| for and on behalf of |
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| Makesworth Audit Services Ltd |
| Statutory Auditor |
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| Cervantes House, 5-9 Headstone Road |
| Harrow |
| HA1 1PD |
| 29 December 2025 |
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| Pure ID Labs Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
15% straight line method |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
| 2 |
Auditor's remuneration |
2024 |
|
2023 |
| £ |
£ |
|
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Fees payable to the company's auditors for the audit of the company |
2,500 |
|
- |
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| 3 |
Employees |
2024 |
|
2023 |
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Including directors |
Number |
Number |
|
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Average number of persons employed by the company |
2 |
|
2 |
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| 4 |
Intangible fixed assets |
£ |
|
Development expenditure |
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Cost |
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At 1 January 2024 |
331,899 |
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Additions |
51,659 |
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At 31 December 2024 |
383,558 |
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Amortisation |
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At 1 January 2024 |
113,757 |
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Provided during the year |
67,297 |
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At 31 December 2024 |
181,054 |
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Net book value |
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At 31 December 2024 |
202,504 |
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At 31 December 2023 |
218,142 |
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Written off in equal annual instalments over its estimated economic life of 5 years. |
|
| 5 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 January 2024 |
407 |
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Additions |
4,562 |
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At 31 December 2024 |
4,969 |
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Depreciation |
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At 1 January 2024 |
138 |
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Charge for the year |
1,356 |
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At 31 December 2024 |
1,494 |
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Net book value |
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At 31 December 2024 |
3,475 |
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At 31 December 2023 |
269 |
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| 6 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2024 |
1,085 |
|
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At 31 December 2024 |
1,085 |
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| 7 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
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Trade debtors |
132 |
|
132 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
24,988 |
|
14,364 |
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Other debtors |
1,900 |
|
314 |
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|
27,020 |
|
14,810 |
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| 8 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
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Trade creditors |
10,260 |
|
- |
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Amounts owed to group undertakings |
|
350,769 |
|
18,322 |
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Other creditors |
4,906 |
|
6,309 |
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|
365,935 |
|
24,631 |
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| 9 |
Related party transactions |
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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. |
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| 10 |
Controlling party |
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The company is a subsidiary of Pure Id Inc, incorporated in Delaware which is owned by Nitin Mehta resident of USA. Consequently, Mr Mehta will be the ultimate controlling party. |
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| 11 |
Other information |
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Pure ID Labs Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Tax Partners |
|
60 Grays Inn Road |
|
London |
|
United Kingdom |
|
WC1X 8LU |