Company No: 07072750 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Statement of Changes in Equity
• Notes to the Abridged Financial Statements

DIRECTORS	Mr. David James Hart
	Mr. Mark Ian Locker
	Mr. Jason Andrew Keller

REGISTERED OFFICE	Unit 10 Uttoxeter Business Centre
	Town Meadows Way
	Uttoxeter
	ST14 8AZ
	Staffordshire
	England
	United Kingdom

COMPANY NUMBER

07072750 (England and Wales)

ACCOUNTANT	OnTheGo Accountants Limited
	330 Holborn Gate
	High Holborn
	London
	WC1V 7QH

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	5	16,991		15,855
		16,991		15,855
Current assets
Debtors		564,928		318,615
Cash at bank and in hand		3,121,959		269,528
		3,686,887		588,143
Creditors: amounts falling due within one year		( 1,270,794)		( 517,391)
Net current assets		2,416,093		70,752
Total assets less current liabilities		2,433,084		86,607
Creditors: amounts falling due after more than one year		( 36,667)		( 48,334)
Provision for liabilities	6	( 3,228)		( 3,012)
Net assets		2,393,189		35,261
Capital and reserves
Called-up share capital	7	173		133
Share premium account		2,981,504		231,292
Profit and loss account		( 588,488 )		( 196,164 )
Total shareholders' funds		2,393,189		35,261

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered,
• All of the members of Attraction Technology Limited have consented to the preparation of the abridged financial statements for the financial year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements of Attraction Technology Limited (registered number: 07072750) were approved and authorised for issue by the Board of Directors on 28 December 2023. They were signed on its behalf by:

Mr. Mark Ian Locker Director

	Called-up share capital		Share premium account		Profit and loss account		Total
	£		£		£		£
At 01 April 2021	231,425		0		( 77,505)		153,920
Loss for the financial year	0		0		( 118,659)		( 118,659)
Total comprehensive loss	0		0		( 118,659)		( 118,659)
Issue of share capital	( 231,292)		231,292		0		0
At 31 March 2022	133		231,292		( 196,164)		35,261
At 01 April 2022	133		231,292		( 196,164)		35,261
Loss for the financial year	0		0		( 392,323)		( 392,323)
Total comprehensive loss	0		0		( 392,323)		( 392,323)
Issue of share capital	40		2,750,212		0		2,750,252
Rounding	0		0		( 1)		( 1)
At 31 March 2023	173		2,981,504		( 588,488)		2,393,189

1. Accounting policies

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.

General information and basis of accounting

Attraction Technology 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 Unit 10 Uttoxeter Business Centre, Town Meadows Way, Uttoxeter, ST14 8AZ, Staffordshire, England,, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment	10 years straight line
Computer equipment	3 years straight line

Residual 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		18

3. Finance costs (net)

	2023		2022
	£		£
Interest receivable and similar income	58		0
Interest payable and similar expenses	( 928)		( 964)
	(870)		(964)

4. Tax on loss

	2023		2022
	£		£
Current tax on loss
UK corporation tax	0		0
Total current tax	0		0
Deferred tax
Origination and reversal of timing differences	216		127
Total deferred tax	216		127
Total tax on loss	216		127

On 17 March 2020, the Provisional Collection of Taxes Act was used to substantively enact a 19% tax rate and accordingly, the deferred tax balances were re-calculated from 17% to 19% at 31 March 2022.

The March 2021 Budget announced a further increase to the main rate of corporation tax to 25% from April 2023 as well as introducing a small profits rate of 19%. These rates were substantively enacted via the Finance Bill 2021 on 24 May 2021.

At the Balance Sheet date, it was estimated that the Company’s future profits will be applicable to the small profits rate and therefore deferred tax balances as at 31 March 2023 continue to be measured at 19%.

5. Tangible assets

	Office equipment		Computer equipment		Total
	£		£		£
Cost
At 01 April 2022	2,998		47,403		50,401
Additions	0		9,254		9,254
At 31 March 2023	2,998		56,657		59,655
Accumulated depreciation
At 01 April 2022	1,082		33,464		34,546
Charge for the financial year	300		7,818		8,118
Rounding	( 1)		1		0
At 31 March 2023	1,381		41,283		42,664
Net book value
At 31 March 2023	1,617		15,374		16,991
At 31 March 2022	1,916		13,939		15,855

6. Provision for liabilities

	2023		2022
	£		£
Other provisions	3,228		3,012

7. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100,000 Ordinary Shares shares of £ 0.001 each	100		100
32,810 Seed Shares ordinary shares of £ 0.001 each	33		33
39,873 Series A Shares ordinary shares of £ 0.001 each (2022: nil shares)	40		0
	173		133