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

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).

The financial statements are presented in sterling and this is the functional currency of the company.

Despite the current net liability position of the Company, the Directors have reviewed the forecasts for the Company and have a reasonable expectation that the Company has adequate resources to continue as a going concern for the foreseeable future, being at least twelve months from the date these financial statements have been approved.

The Directors acknowledge that the Company operates in a challenging macro-economic environment and continues to invest in the development and adoption of its platform within its target market. The forecasts indicate that the Company will require ongoing financial support during this period. The Directors have considered the Company's improving trading performance, increasing platform adoption, and the continued support of existing investors, who have demonstrated a track record of providing funding as required. On this basis, the Directors believe that the Company will be able to meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on the going concern basis.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the provision of a 3D design and planning platform to allow users to visualize, organise and analyse data. Revenue is stated net of discounts and of Value Added Tax. Revenue is recognised in accordance with the contract with the client. Where revenue is received in advance, amounts are deferred and released to the profit and loss account in line with the service being delivered.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Research expenditure is written off in the period in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

- It is technically feasible to complete the intangible asset so that it will be available for use or sale;

- There is the intention to complete the intangible asset and use or sell it;

- There is the ability to use or sell the intangible asset;

- The use or sale of the intangible asset will generate probable future economic benefits;

- There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and

- The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

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.

Current tax
Current tax, including UK corporation tax and Research & Development (R&D) tax credits, is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.


Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.


The company claims R&D tax relief under the Enhanced R&D Intensive Support Scheme, which provides an increased repayable tax credit for qualifying R&D expenditure by loss-making R&D intensive small and medium-sized enterprises (SMEs). Where the company qualifies for and claims a repayable R&D tax credit under this scheme, the amount is recognised as a component of current tax in the profit and loss account in the period in which the qualifying R&D expenditure is incurred.


A corresponding tax receivable is recognised within current assets on the balance sheet when the credit is considered probable and can be reliably measured, typically once the claim is prepared and submission is expected. The credit is not contingent on future taxable profits and is accounted for as a receivable from HMRC, rather than a reduction in tax payable.


Deferred tax
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.

Interest payable and similar charges are recognised in the profit and loss account on an accruals basis using the effective interest method.

Finance costs include interest on bank overdrafts and loans, finance leases, and other borrowings. Where applicable, interest costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset in accordance with FRS 102.

All other interest and finance charges are expensed as incurred.

Other operating income is recognised in the profit and loss account when it is probable that the economic benefits associated with the transaction will flow to the company and the amount of income can be measured reliably.

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any

accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.