Elute Intelligence Limited Filleted accounts for Companies House (small and micro)
Elute Intelligence Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
06647282
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For the year ended |
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
6 |
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Tangible assets |
7 |
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-------- |
-------- |
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Current assets
Debtors |
8 |
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Cash at bank and in hand |
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-------- |
------- |
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Creditors: amounts falling due within one year |
9 |
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--------- |
--------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
(
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(
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Creditors: amounts falling due after more than one year |
10 |
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--------- |
--------- |
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Net liabilities |
(
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(
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--------- |
--------- |
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Capital and reserves
Called up share capital |
12 |
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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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(
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--------- |
--------- |
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Shareholders deficit |
(
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(
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--------- |
--------- |
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Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
14 August 2023
, and are signed on behalf of the board by:
|
Director |
Company registration number:
06647282
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Notes to the Financial Statements |
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Church Road, Tadley, England, RG26 3AX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Equipment | - |
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Financial instruments
Defined contribution plans
Share-based payments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
1
).
5.
Going concern
Included in creditors: amounts falling due within one year is an amount of £694,024 (2021 £482,336) due to the Company's parent entity, Elute Intelligence Holdings Limited. Although this loan is repayable on demand, the Directors of Elute Intelligence Holdings Limited have indicated that they do not intend to recall this debt and will continue to support the Company for a period of at least 12 months following the date of signing the balance sheet. On this basis, the Directors continue to prepare the financial statements of
Elute Intelligence Limited
on a going concern basis
6.
Intangible assets
Development costs |
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£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
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-------- |
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Amortisation |
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At 1 January 2022 and 31 December 2022 |
– |
-------- |
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Carrying amount |
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At 31 December 2022 |
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-------- |
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At 31 December 2021 |
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-------- |
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7.
Tangible assets
Equipment |
|
£ |
|
Cost |
|
At 1 January 2022 and 31 December 2022 |
|
------- |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
|
------- |
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At 31 December 2022 |
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------- |
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Carrying amount |
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At 31 December 2022 |
|
------- |
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At 31 December 2021 |
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------- |
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8.
Debtors
2022 |
2021 |
|
£ |
£ |
|
Trade debtors |
|
– |
Other debtors |
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-------- |
------- |
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-------- |
------- |
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9.
Creditors:
amounts falling due within one year
2022 |
2021 |
|
£ |
£ |
|
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Social security and other taxes |
|
– |
Accruals and deferred income |
6,595 |
30,964
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Other creditors |
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--------- |
--------- |
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Included within Creditors is a loan from the parent company, Elute Intelligence Holdings Limited. The balance as at 31 December 2022 was £694,025 (2021: £482,336). The loan is interest free and repayable on demand.
10.
Creditors:
amounts falling due after more than one year
2022 |
2021 |
|
£ |
£ |
|
Bank loans and overdrafts |
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|
------- |
------- |
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11.
Share-based payments
Certain employees have been granted options to subscribe for shares in the parent company, Elute Intelligence Holdings Limited, under share option schemes, as follows:
Details of the number and weighted average exercise prices (WAEP) of share options during the year are as follows:
2022 |
2021 |
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No. |
WAEP |
No. |
WAEP |
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Outstanding at 1 January 2022 |
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|
– |
– |
Granted during the year |
– |
– |
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-------- |
----- |
-------- |
----- |
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Outstanding at 31 December 2022 |
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– |
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– |
-------- |
----- |
-------- |
----- |
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The total expense recognised in profit or loss for the year is as follows:
2022 |
2021 |
|
£ |
£ |
|
Equity-settled share-based payments |
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------- |
------- |
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The estimated fair values were calculated by applying the Black-Scholes option pricing model. The model inputs were: 2022 Share price at grant date £3.57 Exercise price £0.90 Expected volatility 70% Expected life 10 years Risk free interest rate 0.578% Dividend yield 0%
12.
Called up share capital
Issued, called up and fully paid
2022 |
2021 |
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No. |
£ |
No. |
£ |
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|
274 |
|
274 |
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