Company registration number 06963006 (England and Wales)
PRISM IOT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
PRISM IOT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
PRISM IOT LTD
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,641
-
0
Current assets
Debtors
4
74,966
-
0
Cash at bank and in hand
27,499
-
0
102,465
-
0
Creditors: amounts falling due within one year
5
(74,026)
(950)
Net current assets/(liabilities)
28,439
(950)
Total assets less current liabilities
48,080
(950)
Provisions for liabilities
(4,592)
-
0
Net assets/(liabilities)
43,488
(950)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
43,487
(951)
Total equity
43,488
(950)

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 April 2026 and are signed on its behalf by:
Mr P Stidworthy
Director
Company registration number 06963006 (England and Wales)
PRISM IOT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2023
1
1,848
1,849
Year ended 31 July 2024:
Loss and total comprehensive income
-
(2,799)
(2,799)
Balance at 31 July 2024
1
(951)
(950)
Year ended 31 July 2025:
Profit and total comprehensive income
-
107,238
107,238
Dividends
-
(62,800)
(62,800)
Balance at 31 July 2025
1
43,487
43,488
PRISM IOT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

PRISM IOT Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Franklyn Drive, Exeter, Devon, EX2 9HR.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

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

These financial statements for the year ended 31 July 2025 are the first financial statements of PRISM IOT Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 August 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
5 year straight line
Computers
3 year straight line
Motor vehicles
25% reducing balance

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.

1.4
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 current liabilities.

PRISM IOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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 in the company's balance sheet 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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
PRISM IOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2024
-
0
4,984
-
0
4,984
Additions
747
3,618
17,025
21,390
At 31 July 2025
747
8,602
17,025
26,374
Depreciation and impairment
At 1 August 2024
-
0
4,984
-
0
4,984
Depreciation charged in the year
76
254
1,419
1,749
At 31 July 2025
76
5,238
1,419
6,733
Carrying amount
At 31 July 2025
671
3,364
15,606
19,641
At 31 July 2024
-
0
-
0
-
0
-
0
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
74,966
-
0
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,520
-
0
Corporation tax
28,087
-
0
Other taxation and social security
15,601
-
0
Other creditors
27,818
950
74,026
950
6
Related party transactions
2025
2024
Amounts due to related parties
£
£
Key management personnel
26,018
950
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