Livesmart U.K. Limited

LIVESMART U.K. LIMITED - Company Information

2021-02-012022-01-312022-01-31false09960434Livesmart U.K. Limited2022-09-08iso4217:GBPxbrli:pure099604342021-02-01099604342022-01-31099604342021-02-012022-01-31099604342020-02-01099604342021-01-31099604342020-02-012021-01-3109960434bus:SmallEntities2021-02-012022-01-3109960434bus:AuditExempt-NoAccountantsReport2021-02-012022-01-3109960434bus:FullAccounts2021-02-012022-01-3109960434bus:PrivateLimitedCompanyLtd2021-02-012022-01-3109960434core:WithinOneYear2022-01-3109960434core:AfterOneYear2022-01-3109960434core:WithinOneYear2021-01-3109960434core:AfterOneYear2021-01-3109960434core:ShareCapital2022-01-3109960434core:SharePremium2022-01-3109960434core:RevaluationReserve2022-01-3109960434core:OtherReservesSubtotal2022-01-3109960434core:RetainedEarningsAccumulatedLosses2022-01-3109960434core:ShareCapital2021-01-3109960434core:SharePremium2021-01-3109960434core:RevaluationReserve2021-01-3109960434core:OtherReservesSubtotal2021-01-3109960434core:RetainedEarningsAccumulatedLosses2021-01-3109960434core:LandBuildings2022-01-3109960434core:PlantMachinery2022-01-3109960434core:Vehicles2022-01-3109960434core:FurnitureFittings2022-01-3109960434core:OfficeEquipment2022-01-3109960434core:NetGoodwill2022-01-3109960434core:IntangibleAssetsOtherThanGoodwill2022-01-3109960434core:ListedExchangeTraded2022-01-3109960434core:UnlistedNon-exchangeTraded2022-01-3109960434core:LandBuildings2021-01-3109960434core:PlantMachinery2021-01-3109960434core:Vehicles2021-01-3109960434core:FurnitureFittings2021-01-3109960434core:OfficeEquipment2021-01-3109960434core:NetGoodwill2021-01-3109960434core:IntangibleAssetsOtherThanGoodwill2021-01-3109960434core:ListedExchangeTraded2021-01-3109960434core:UnlistedNon-exchangeTraded2021-01-3109960434core:LandBuildings2021-02-012022-01-3109960434core:PlantMachinery2021-02-012022-01-3109960434core:Vehicles2021-02-012022-01-3109960434core:FurnitureFittings2021-02-012022-01-3109960434core:OfficeEquipment2021-02-012022-01-3109960434core:NetGoodwill2021-02-012022-01-3109960434core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3109960434core:ListedExchangeTraded2021-02-012022-01-3109960434core:UnlistedNon-exchangeTraded2021-02-012022-01-3109960434core:MoreThanFiveYears2021-02-012022-01-3109960434core:Non-currentFinancialInstruments2022-01-3109960434core:Non-currentFinancialInstruments2021-01-3109960434dpl:CostSales2021-02-012022-01-3109960434dpl:DistributionCosts2021-02-012022-01-3109960434dpl:AdministrativeExpenses2021-02-012022-01-3109960434core:LandBuildings2021-02-012022-01-3109960434core:PlantMachinery2021-02-012022-01-3109960434core:Vehicles2021-02-012022-01-3109960434core:FurnitureFittings2021-02-012022-01-3109960434core:OfficeEquipment2021-02-012022-01-3109960434core:NetGoodwill2021-02-012022-01-3109960434core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3109960434dpl:GroupUndertakings2021-02-012022-01-3109960434dpl:ParticipatingInterests2021-02-012022-01-3109960434dpl:GroupUndertakingscore:ListedExchangeTraded2021-02-012022-01-3109960434core:ListedExchangeTraded2021-02-012022-01-3109960434dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-02-012022-01-3109960434core:UnlistedNon-exchangeTraded2021-02-012022-01-3109960434dpl:CostSales2020-02-012021-01-3109960434dpl:DistributionCosts2020-02-012021-01-3109960434dpl:AdministrativeExpenses2020-02-012021-01-3109960434core:LandBuildings2020-02-012021-01-3109960434core:PlantMachinery2020-02-012021-01-3109960434core:Vehicles2020-02-012021-01-3109960434core:FurnitureFittings2020-02-012021-01-3109960434core:OfficeEquipment2020-02-012021-01-3109960434core:NetGoodwill2020-02-012021-01-3109960434core:IntangibleAssetsOtherThanGoodwill2020-02-012021-01-3109960434dpl:GroupUndertakings2020-02-012021-01-3109960434dpl:ParticipatingInterests2020-02-012021-01-3109960434dpl:GroupUndertakingscore:ListedExchangeTraded2020-02-012021-01-3109960434core:ListedExchangeTraded2020-02-012021-01-3109960434dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-02-012021-01-3109960434core:UnlistedNon-exchangeTraded2020-02-012021-01-3109960434core:NetGoodwill2022-01-3109960434core:IntangibleAssetsOtherThanGoodwill2022-01-3109960434core:LandBuildings2022-01-3109960434core:PlantMachinery2022-01-3109960434core:Vehicles2022-01-3109960434core:FurnitureFittings2022-01-3109960434core:OfficeEquipment2022-01-3109960434core:AfterOneYear2022-01-3109960434core:WithinOneYear2022-01-3109960434core:ListedExchangeTraded2022-01-3109960434core:UnlistedNon-exchangeTraded2022-01-3109960434core:ShareCapital2022-01-3109960434core:SharePremium2022-01-3109960434core:RevaluationReserve2022-01-3109960434core:OtherReservesSubtotal2022-01-3109960434core:RetainedEarningsAccumulatedLosses2022-01-3109960434core:NetGoodwill2021-01-3109960434core:IntangibleAssetsOtherThanGoodwill2021-01-3109960434core:LandBuildings2021-01-3109960434core:PlantMachinery2021-01-3109960434core:Vehicles2021-01-3109960434core:FurnitureFittings2021-01-3109960434core:OfficeEquipment2021-01-3109960434core:AfterOneYear2021-01-3109960434core:WithinOneYear2021-01-3109960434core:ListedExchangeTraded2021-01-3109960434core:UnlistedNon-exchangeTraded2021-01-3109960434core:ShareCapital2021-01-3109960434core:SharePremium2021-01-3109960434core:RevaluationReserve2021-01-3109960434core:OtherReservesSubtotal2021-01-3109960434core:RetainedEarningsAccumulatedLosses2021-01-3109960434core:NetGoodwill2020-02-0109960434core:IntangibleAssetsOtherThanGoodwill2020-02-0109960434core:LandBuildings2020-02-0109960434core:PlantMachinery2020-02-0109960434core:Vehicles2020-02-0109960434core:FurnitureFittings2020-02-0109960434core:OfficeEquipment2020-02-0109960434core:AfterOneYear2020-02-0109960434core:WithinOneYear2020-02-0109960434core:ListedExchangeTraded2020-02-0109960434core:UnlistedNon-exchangeTraded2020-02-0109960434core:ShareCapital2020-02-0109960434core:SharePremium2020-02-0109960434core:RevaluationReserve2020-02-0109960434core:OtherReservesSubtotal2020-02-0109960434core:RetainedEarningsAccumulatedLosses2020-02-0109960434core:AfterOneYear2021-02-012022-01-3109960434core:WithinOneYear2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:CostValuation2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2021-02-012022-01-3109960434core:Non-currentFinancialInstrumentscore:CostValuation2022-01-3109960434core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-01-3109960434core:Non-currentFinancialInstrumentscore:CostValuation2021-01-3109960434core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2021-01-3109960434core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2021-01-3109960434bus:Director12021-02-012022-01-3109960434bus:Director22021-02-012022-01-3109960434bus:Director32021-02-012022-01-3109960434bus:Director42021-02-012022-01-31

Registered Number
09960434
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2022

Livesmart U.K. Limited

Company Information
for the year from 1 February 2021 to 31 January 2022


Directors	R J L Carrick
	I Goncharov
	A P Heaton
	L Robinson


Registered Address	37 Cremer Street
	Hackney
	E2 8HD


Registered Number	09960434 (England and Wales)

Livesmart U.K. Limited

Statement of Financial Position
31 January 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	9		9,701		18,656
Investments	10		4,633		4,633
			14,334		23,289
Current assets
Debtors	13	527,148		125,235
Cash at bank and on hand		180,277		1,066,474
		707,425		1,191,709
Creditors amounts falling due within one year	14	(290,106)		(501,026)
Net current assets (liabilities)			417,319		690,683
Total assets less current liabilities			431,653		713,972
Creditors amounts falling due after one year	15		(34,857)		(44,167)
Net assets			396,796		669,805
Capital and reserves
Called up share capital			226,652		199,838
Share premium			4,947,189		4,042,246
Other reserves			974,964		819,240
Profit and loss account			(5,752,009)		(4,391,519)
Shareholders' funds			396,796		669,805

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.

The financial statements were approved and authorised for issue by the Board of Directors on 8 September 2022, and are signed on its behalf by:

R J L Carrick
Director
Registered Company No. 09960434

Livesmart U.K. Limited

Notes to the Financial Statements
for the year ended 31 January 2022

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

2.	Compliance with applicable reporting framework
	These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Principal activities
	The principal activity of the company in the year under review was that of providing health assessments via self-administered health kits.

4.	Smallest group in which results are consolidated
	The financial statements contain information about Livesmart U.K. Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirement to prepare consolidated financial statements.

5.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention.

6.	Accounting policies

	Functional and presentation currency policy
	The presentation currency of the financial statements is the Pound Sterling (£).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The statement of financial position is credited with the value of invoiced sales, as deferred income, which is then amortised to revenue over the period of the contract. At the statement of financial position, the carrying value of deferred income reflects the total value of invoiced sales which has not yet been recognised as revenue.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes. The statement of financial position is credited with the value of invoiced sales, as deferred income, which is then amortised to revenue over the period of the contract. At the statement of financial position, the carrying value of deferred income reflects the total value of invoiced sales which has not yet been recognised as revenue.

	Property, plant and equipment policy
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:


		Straight line (years)
	Office Equipment	3

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Taxation policy
	Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. Tax credits shown on the income statement represent trading losses surrendered for research and development tax credits

Taxation policy

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Tax credits shown on the income statement represent trading losses surrendered for research and development tax credits

	Research and development policy
	Revenue expenditure on research and development is written off in the year in which it is incurred. The company qualifies to make claims under the SME R&D tax relief scheme. Benefits arising from successful claims under the SME R&D tax relief scheme are reflected 'below the line' as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit. Benefits receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

Research and development policy

Revenue expenditure on research and development is written off in the year in which it is incurred.

The company qualifies to make claims under the SME R&D tax relief scheme. Benefits arising from successful claims under the SME R&D tax relief scheme are reflected 'below the line' as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit. Benefits receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

	Foreign currency translation and operations policy
	Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non - monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income statement.

Foreign currency translation and operations policy

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each reporting period end foreign currency monetary items are translated using the closing rate. Non - monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income statement.

	Government grants and other government assistance policy
	Other operating income consists of government grants received. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable. In the case of performance related grants, income is recognised only when the performance related conditions are met.

	Leases policy
	Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the income statement.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the income statement.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate. Share Based Payments The company operates an equity-settled compensation plan. The fair value of the services received in exchange for the grant of the options is recognised as an expense in the income statement. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity-settled.

Employee benefits policy

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

Share Based Payments

The company operates an equity-settled compensation plan. The fair value of the services received in exchange for the grant of the options is recognised as an expense in the income statement. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity-settled.

	Valuation of financial instruments policy
	The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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. Cash and cash equivalents: Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

Valuation of financial instruments policy

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. 

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

Cash and cash equivalents: 

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

	Going concern
	The financial statements have been prepared on the going concern basis. The company has incurred losses during the year, however, the directors have been successful in raising additional capital both during the year, and therefore believe the company has sufficient cash resources to meet its future obligations, as and when they become due. The directors have considered the impact of the Covid-19 pandemic on the activities of the business and do not consider that this will materially impact the ability of the company to trade in future. On this basis, they are therefore of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

Going concern

The financial statements have been prepared on the going concern basis. The company has incurred losses during the year, however, the directors have been successful in raising additional capital both during the year, and therefore believe the company has sufficient cash resources to meet its future obligations, as and when they become due. The directors have considered the impact of the Covid-19 pandemic on the activities of the business and do not consider that this will materially impact the ability of the company to trade in future. On this basis, they are therefore of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

7.	Critical estimates and judgements
	Share based payments have been made to the employees and advisors of the company. As disclosed in the Share Based Payments accounting policy note, the fair value of options are recognised in the income statement over the course of the vesting period. The fair value estimate is based on the value of the shares at the date of grant. No other significant judgements or estimates have been used in order to arrive at the figures contained within the financial statements.

Critical estimates and judgements

Share based payments have been made to the employees and advisors of the company. As disclosed in the Share Based Payments accounting policy note, the fair value of options are recognised in the income statement over the course of the vesting period. The fair value estimate is based on the value of the shares at the date of grant.

No other significant judgements or estimates have been used in order to arrive at the figures contained within the financial statements.

8.	Employee information
	Share - Based Payment Transactions The company operates an EMI qualifying share option scheme on behalf of its employees. At the date of the financial statements the company had granted 51,090 share options to 8 employees with an exercise price of £3.430 per share. As at the year end, 51,090 (2021 - 27,486) share options had vested, 35,524 (2021 - 8,038) had lapsed and no options (2021 - Nil) had been exercised. The share options vest over 48 months. The company also operates an unapproved share option scheme on behalf of its advisers. At the date of the financial statements the company had granted 59,142 (2021 - 5,778) share options to 14 advisers with an exercise price of £3.430 per share. As at the year end, 12,499 (2021 - 3,759) share options had vested, no options (2021 - Nil) had lapsed and no options had been exercised.

Employee information

Share - Based Payment Transactions

The company operates an EMI qualifying share option scheme on behalf of its employees. At the date of the financial statements the company had granted 51,090 share options to 8 employees with an exercise price of £3.430 per share. As at the year end, 51,090 (2021 - 27,486) share options had vested, 35,524 (2021 - 8,038) had lapsed and no options (2021 - Nil) had been exercised. The share options vest over 48 months.

The company also operates an unapproved share option scheme on behalf of its advisers. At the date of the financial statements the company had granted 59,142 (2021 - 5,778) share options to 14 advisers with an exercise price of £3.430 per share. As at the year end, 12,499 (2021 - 3,759) share options had vested, no options (2021 - Nil) had lapsed and no options had been exercised.


		2022		2021
	Average number of employees during the year	25		23

9.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 February 21	29,527	29,527
Disposals	(1,353)	(1,353)
At 31 January 22	28,174	28,174
Depreciation and impairment
At 01 February 21	10,871	10,871
Charge for year	8,165	8,165
On disposals	(563)	(563)
At 31 January 22	18,473	18,473
Net book value
At 31 January 22	9,701	9,701
At 31 January 21	18,656	18,656

10.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 February 21	4,633	4,633
At 31 January 22	4,633	4,633
Net book value
At 31 January 22	4,633	4,633
At 31 January 21	4,633	4,633

	Notes
	¹Investments in group undertakings and participating interests

11.	Description of financial commitments other than capital commitments
	Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year - £16,318 (2021 - £27,197) Between one and five years - £0 (2021 - £16,318)

12.	Description of nature of transactions and balances with related parties
	The company has taken advantage of the exemption available under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group companies. During the year, there is no ultimate controlling party.

13.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	104,361	12,192
Amounts owed by group undertakings	271,256	98,383
Other debtors	144,164	10,605
Prepayments and accrued income	7,367	4,055
Total	527,148	125,235

14.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	30,089	48,513
Bank borrowings and overdrafts	9,639	5,833
Taxation and social security	-	32,614
Other creditors	5,364	5,945
Accrued liabilities and deferred income	245,014	408,121
Total	290,106	501,026

15.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	34,857	44,167
Total	34,857	44,167


	Split across creditors due in one year and creditors due after one year are total loans of £44,495 owed to the company's bankers under the Bounce Back Loan scheme. The loan is secured by the UK Government under the Coronavirus Business Support Scheme.