Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 10,883,806 | 10,081,835 | |||
| Net current assets | 0 | 0 | ||
| Total assets less current liabilities | 10,883,806 | 10,081,835 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 4 |
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| Share premium account |
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| Other reserves |
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| Profit and loss account | (
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Living Map Assets Limited (registered number:
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A E P Coxen
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Living Map Assets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the subsidiary company has net liabilities of £637,692. The subsidiary company is supported by the Company and investments from third parties into the Company. The directors have confirmed that as at the date of signing the accounts the company has received a further £1.02m investment committed from existing shareholders and has approximately £290k of invoices raised pending customer payment.
The subsidiary Company benefits from a supportive and engaged shareholder group with a strong track record of providing financial backing where appropriate. The shareholders continue to demonstrate their commitment to the long-term success of the business. In addition to the support of its existing shareholders, the Directors/Shareholders have identified a number of potential funding options that remain available to the subsidiary Company. These include further equity investment from existing shareholders, the introduction of new strategic investors, and other financing alternatives should they be required. The Directors believe that the subsidiary Company has sufficient flexibility to access appropriate funding to meet its anticipated working capital requirements.
Having considered the Company's financial forecasts, the continued support of its shareholder base, and the range of funding options available, the Directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.
Fair value is measured by use of the appropriate pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
| 2025 | |
| £ | |
| Cost | |
| At 01 January 2025 |
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| Additions |
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| Movement in share based payments | (224,589) |
| At 31 December 2025 |
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| Provisions for impairment | |
| At 01 January 2025 |
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| Impairment |
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| At 31 December 2025 |
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| Carrying value at 31 December 2025 |
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| Carrying value at 31 December 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Other reserves include all current and previous share based payment charges recognised in share option schemes net of any related deferred tax assets and transfers upon exercise of options.
As part of his consultancy agreement Adam Coxen is entitled to receive a payment that is contingent on a change of control of the business occurring. This payment is to be calculated using the ordinary share price at the time of the change of control multiplied by 148,292.