POLISHED ROCK LTD


Directors	HUGHES, Andrew Robin Wynne
	WORGER, Mark Andrew


Registered Address	International House
	Nile Street
	London
	N1 7SR


Registered Number	07467364 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		842,907		577,280
Tangible assets	5		9,285		12,483
			852,192		589,763
Current assets
Debtors		313,262		452,649
Cash at bank and on hand		253,604		132,884
		566,866		585,533
Creditors amounts falling due within one year	6	(363,863)		(560,859)
Net current assets (liabilities)			203,003		24,674
Total assets less current liabilities			1,055,195		614,437
Net assets			1,055,195		614,437
Capital and reserves
Called up share capital			1		1
Share premium			1,912,777		1,358,111
Profit and loss account			(857,583)		(743,675)
Shareholders' funds			1,055,195		614,437

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 July 2026, and are signed on its behalf by:

WORGER, Mark Andrew
Director
Registered Company No. 07467364

POLISHED ROCK LTD

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	The accounts have been prepared on a going concern basis which assumes that the company will be able to continue to meet its financial obligations for a period of at least 12 months from the date of this report. In deciding that this basis was appropriate, the director considered its cash flow forecasts and the likelihood of securing new investment if and as required.

	Revenue from rendering of services
	Revenue arises from the licensing of software and the creation of bespoke software assets for clients. Revenue from software licensing is recognised evenly across the period of the licence. Revenue from the creation of bespoke assets is recognised when performance obligations are complete. Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business and net of refund, discounts and sales taxes.

Revenue from rendering of services

Revenue arises from the licensing of software and the creation of bespoke software assets for clients.
Revenue from software licensing is recognised evenly across the period of the licence. Revenue from the creation of bespoke assets is recognised when performance obligations are complete.
Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business and net of refund, discounts and sales taxes.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	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.

Foreign currency translation

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.

	Intangible assets
	Intangible fixed assets is the cost of development of Polished Rock's software platform. This is measured at cost less accumulative amortisation and any accumulative impairment losses.

	Development costs not treated as realised loss
	Development costs are included as an asset in the accounts as directors consider, following a reviewing of intellectual property created, that there is enough certainty over measurement, economic benefit, economic life and capacity to complete & utilise assets. Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Trade and other debtors
	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.

Trade and other debtors

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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	8		11

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 25	680,186	680,186
Additions	351,225	351,225
At 31 December 25	1,031,411	1,031,411
Amortisation and impairment
At 01 January 25	102,906	102,906
Charge for year	85,598	85,598
At 31 December 25	188,504	188,504
Net book value
At 31 December 25	842,907	842,907
At 31 December 24	577,280	577,280

4.	Useful life of intangible assets
	lnternally generated intangible assets Development expenditure incurred in respect of individual projects is capitalised when the future economic benefit of the project is probable and is recognised only if all of the following conditions are met: • The Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale. • The Company can demonstrate how the intangible asset created wilI generate future economic benefits. • The Company has available the resources to complete the asset. • The Company intends to complete that asset and has the future ability to selI or use the asset, • The development cost of the intangible asset can be measured reliably. Following initial recognition of the development expenditure as an asset the cost model is applied requiring the asset to be held at cost less any accumulated amortisation and impairment. Amortisation begins when development is complete and the asset is ready for use. This type of expenditure primarily relates to internally developed software and website projects for the Company and are amortised on a straight line basis over their useful economic lives of ten years. During the period of development the asset is tested for impairment annually. Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred.

Useful life of intangible assets

lnternally generated intangible assets
Development expenditure incurred in respect of individual projects is capitalised when the future economic benefit of the project is probable and is recognised only if all of the following conditions are met:
• The Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale.
• The Company can demonstrate how the intangible asset created wilI generate future economic benefits.
• The Company has available the resources to complete the asset.
• The Company intends to complete that asset and has the future ability to selI or use the asset,
• The development cost of the intangible asset can be measured reliably.

Following initial recognition of the development expenditure as an asset the cost model is applied requiring the asset to be held at cost less any accumulated amortisation and impairment. Amortisation begins when development is complete and the asset is ready for use.

This type of expenditure primarily relates to internally developed software and website projects for the Company and are amortised on a straight line basis over their useful economic lives of ten years. 
During the period of development the asset is tested for impairment annually.
Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred.

5.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	33,524	33,524
Additions	2,640	2,640
At 31 December 25	36,164	36,164
Depreciation and impairment
At 01 January 25	21,041	21,041
Charge for year	5,838	5,838
At 31 December 25	26,879	26,879
Net book value
At 31 December 25	9,285	9,285
At 31 December 24	12,483	12,483

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	17,563	29,489
Bank borrowings and overdrafts	33,894	93,164
Taxation and social security	45,804	140,120
Other creditors	1,357	5,825
Accrued liabilities and deferred income	265,245	292,261
Total	363,863	560,859


	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.

7.	Creditors: amounts due after one year