REGISTERED NUMBER: 09275623 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

CAPNOVUM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Nilsson

REGISTERED OFFICE:

6th Floor

One London Wall

London

EC2Y 5EB

REGISTERED NUMBER:

09275623 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

286

572

Investments

5

700

700

986

1,272

CURRENT ASSETS

Debtors

6

16,412

19,874

Cash at bank

42

487

16,454

20,361

CREDITORS

Amounts falling due within one year

7

(193,996

)

(181,202

)

NET CURRENT LIABILITIES

(177,542

)

(160,841

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(176,556

)

(159,569

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(177,556

)

(160,569

)

(176,556

)

(159,569

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 December 2025 and were signed by:

N Nilsson - Director

1.	COMPANY INFORMATION

Capnovum Ltd 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 principal activity of the company in the year under review was that of providing consultancy services via its cognitive compliance management platform.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the company had a net deficiency of assets of £177,196. The director will continue to support the company and considers it appropriate to prepare the accounts on the going concern basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Cash and cash equivalents

Cash and cash equivalents 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 current liabilities.

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 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 to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when 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.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

858

DEPRECIATION

At 1 January 2024

286

Charge for year

286

At 31 December 2024

572

NET BOOK VALUE

At 31 December 2024

286

At 31 December 2023

572

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

700

NET BOOK VALUE

At 31 December 2024

700

At 31 December 2023

700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

13,832

15,595

Other debtors

1,500

-

Directors' current accounts

-

3,199

Tax

1,080

1,080

16,412

19,874

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans

17,633

17,633

Trade creditors

-

4,260

Tax

62,336

84,164

VAT

4,174

5,324

Other creditors

66,872

66,871

Directors' current accounts

40,131

-

Accruals and deferred income

2,850

2,950

193,996

181,202

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

N Nilsson

Balance outstanding at start of year

3,199

939

Amounts advanced

-

2,260

Amounts repaid

(43,330

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(40,131

)

3,199

The loan is interest free and has no fixed date for repayment.