Contents of the Financial Statements

for the Period Ended 31 December 2021

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Directors

The directors shown below have held office during the whole of the period from
1 January 2021 to 31 December 2021

Laurent Pretet
Olivier Padiou

The director shown below has held office during the period of
1 January 2021 to 1 July 2021

David Draper

The director shown below has held office during the period of
1 July 2021 to 31 December 2021

Chris Daplyn

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 December 2022

And signed on behalf of the board by:
Name: Chris Daplyn
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2021

	2021	2020
	£	£
Turnover:	25,065,000	19,282,000
Cost of sales:	( 16,393,000 )	( 13,520,000 )
Gross profit(or loss):	8,672,000	5,762,000
Administrative expenses:	( 9,305,000 )	( 9,373,000 )
Other operating income:	517,000	866,000
Operating profit(or loss):	(116,000)	(2,745,000)
Interest payable and similar charges:	( 51,000 )	( 76,000 )
Profit(or loss) before tax:	(167,000)	(2,821,000)
Tax:	( 352,000 )	173,000
Profit(or loss) for the financial year:	(519,000)	(2,648,000)

Balance sheet

As at 31 December 2021

	Notes	2021	2020
		£	£
Fixed assets
Intangible assets:	3	8,304,000	9,957,000
Tangible assets:	4	1,038,000	1,236,000
Total fixed assets:		9,342,000	11,193,000
Current assets
Debtors:	5	6,808,000	4,520,000
Cash at bank and in hand:		2,056,000	2,371,000
Total current assets:		8,864,000	6,891,000
Creditors: amounts falling due within one year:	6	( 5,213,000 )	( 3,823,000 )
Net current assets (liabilities):		3,651,000	3,068,000
Total assets less current liabilities:		12,993,000	14,261,000
Creditors: amounts falling due after more than one year:	7	( 3,449,000 )	( 4,197,000 )
Provision for liabilities:		( 50,000 )	( 51,000 )
Total net assets (liabilities):		9,494,000	10,013,000
Capital and reserves
Called up share capital:		5,750,000	5,750,000
Share premium account:		330,000	330,000
Profit and loss account:		3,414,000	3,933,000
Total Shareholders' funds:		9,494,000	10,013,000

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Turnover policy

  Turnover represents the total invoice value, excluding value added tax, of sales made during the year, net of applicable discounts.Profit is recognised on Time and Materials contracts based on the calculation of time worked multiplied by the agreed contracted day rate for services of a consultant according to an agreed contract for services. Profit is recognised on fixed price contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.Amounts recoverable on fixed price contracts which are included in debtors are stated at the net sales value of the work done less amounts received as progress payments on account. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:Short leasehold improvements - over the life of the leaseOffice equipment - 3 yearsComputer equipment - 3 yearsResidual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

  Intangible fixed assets amortisation policy

  Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. The amortisation period is three years. Provision is made for any impairment

  Other accounting policies

  Going Concern, Financial Instruments, Taxation, Employee Benefits, foreign currency, Leases, Government Grants, Provisions, Share based Payment

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 2. Employees

  	2021	2020
  Average number of employees during the period	159	184