| Smartology Limited |
| Registered number: |
04597890 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
5,541,276 |
|
|
6,493,884 |
| Investments |
4 |
|
|
8 |
|
|
8 |
|
|
|
|
5,541,284 |
|
|
6,493,892 |
|
| Current assets |
| Debtors |
5 |
|
1,079,836 |
|
|
1,547,566 |
| Cash at bank and in hand |
|
|
79,357 |
|
|
40,303 |
|
|
|
1,159,193 |
|
|
1,587,869 |
|
| Creditors: amounts falling due within one year |
6 |
|
(1,209,026) |
|
|
(1,677,593) |
|
| Net current liabilities |
|
|
|
(49,833) |
|
|
(89,724) |
|
| Total assets less current liabilities |
|
|
|
5,491,451 |
|
|
6,404,168 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,500,000) |
|
|
(1,510,096) |
|
|
|
| Net assets |
|
|
|
3,991,451 |
|
|
4,894,072 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
12 |
|
|
11 |
| Share premium |
|
|
|
11,324,991 |
|
|
11,242,992 |
| Profit and loss account |
|
|
|
(7,333,552) |
|
|
(6,348,931) |
|
| Shareholders' funds |
|
|
|
3,991,451 |
|
|
4,894,072 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| David Paul Wilkinson |
| Director |
| Approved by the board on 2 September 2026 |
|
| Smartology Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
17 |
|
17 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Capitalised Software Development |
| £ |
|
Cost |
|
At 1 January 2025 |
10,711,217 |
|
At 31 December 2025 |
10,711,217 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2025 |
4,217,333 |
|
Charge for the year |
952,608 |
|
At 31 December 2025 |
5,169,941 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2025 |
5,541,276 |
|
At 31 December 2024 |
6,493,884 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2025 |
8 |
|
|
At 31 December 2025 |
8 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,042,047 |
|
1,001,822 |
|
Corporation tax debtor |
|
|
|
|
- |
|
517,109 |
|
Other debtors |
37,789 |
|
28,635 |
|
|
|
|
|
|
1,079,836 |
|
1,547,566 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
243,194 |
|
339,858 |
|
Trade creditors |
419,649 |
|
587,021 |
|
Deferred income |
195,566 |
|
77,536 |
|
Taxation and social security costs |
129,457 |
|
590,484 |
|
Other creditors |
221,160 |
|
82,694 |
|
|
|
|
|
|
1,209,026 |
|
1,677,593 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
- |
|
10,096 |
|
Debenture loans |
1,500,000 |
|
1,500,000 |
|
|
|
|
|
|
1,500,000 |
|
1,510,096 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
334,303 |
|
334,303 |
|
|
|
|
|
|
|
|
|
|
Optimum SME Finance Limited hold a debenture over book debts. |
|
|
| 9 |
Going concern |
|
|
These financial statements have been prepared on a going concern basis. There are convertible loans of £1,500,000, maturing 31 December 2028: the board expects these to be converted to shares in due course. The company has the support of its major shareholders. |
|
|
| 10 |
Related party transactions |
|
|
|
|
|
Paid Fees and interest |
|
Accruals |
|
Amounts outstanding |
| £ |
£ |
£ |
|
Entities with a common director |
113,254 |
|
- |
|
- |
|
Directors |
25,000 |
|
- |
|
- |
|
Amounts owed to related parties |
- |
|
- |
|
- |
|
Entities with a common director |
- |
|
29,198 |
|
1,529,198 |
|
|
|
31/12/25 |
|
138,254 |
|
29,198 |
|
1,529,198 |
|
|
|
|
|
|
|
|
|
|
Entities with a common director |
178,664 |
|
- |
|
- |
|
Directors |
25,000 |
|
- |
|
- |
|
Amounts owed to related parties |
|
Entities with a common director |
- |
|
30,488 |
|
1,530,488 |
|
|
|
31/12/24 |
|
203,664 |
|
30,488 |
|
1,530,488 |
|
|
|
|
|
|
|
|
|
|
| 11 |
Controlling party |
|
|
The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company |
|
|
| 12 |
Other information |
|
|
Smartology Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Associates House |
|
118A East Barnet Road |
|
Barnet |
|
Herts |
|
EN4 8RE |