Leads.io Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 06873930

LEADS.IO LIMITED

FILLETED FINANCIAL STATEMENTS

31 December 2023

LEADS.IO LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2023

	2023		2022
Note	£	£	£	£

FIXED ASSETS

Intangible assets	5	1,178,638	–
Tangible assets	6	30,665	67,891
		------------	--------
		1,209,303	67,891

CURRENT ASSETS

Debtors	7	3,476,954	1,578,722
Cash at bank and in hand		289,134	747,714
		------------	------------
		3,766,088	2,326,436

CREDITORS: amounts falling due within one year	8	4,600,332		2,142,903
		------------		------------
NET CURRENT (LIABILITIES)/ASSETS			( 834,244)		183,533
			------------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			375,059		251,424
			---------		---------
NET ASSETS			375,059		251,424
			---------		---------

CAPITAL AND RESERVES

Called up share capital	109	109
Share premium account	79,203	79,203
Profit and loss account	295,747	172,112
	---------	---------
SHAREHOLDERS FUNDS	375,059	251,424
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 26 April 2024 , and are signed on behalf of the board by:

Mr T J M Roemer

Director

Company registration number: 06873930

LEADS.IO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 The Point, Rockingham Road, Market Harborough, Leicestershire, LE16 7QU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Development costs	-	20% straight line
Domains	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property	-	10 years straight line
Fixtures & Fittings	-	15% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the Profit and Loss Account. The company also funds individual policy schemes, all of which are money purchase schemes. The company's contributions to these schemes are charged to the profit and loss account in the year they become payable.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 38 (2022: 34 ).

5. INTANGIBLE ASSETS

	Goodwill	Development costs	Domains	Total
	£	£	£	£
Cost
At 1 January 2023	265,452	–	5,527	270,979
Additions	–	–	952,000	952,000
Additions from internal developments	–	365,361	–	365,361
	---------	---------	---------	------------
At 31 December 2023	265,452	365,361	957,527	1,588,340
	---------	---------	---------	------------
Amortisation
At 1 January 2023	265,452	–	–	265,452
Charge for the year	–	34,000	110,250	144,250
	---------	---------	---------	------------
At 31 December 2023	265,452	34,000	110,250	409,702
	---------	---------	---------	------------
Carrying amount
At 31 December 2023	–	331,361	847,277	1,178,638
	---------	---------	---------	------------
At 31 December 2022	–	–	5,527	5,527
	---------	---------	---------	------------

6. TANGIBLE ASSETS

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2023	72,387	120,670	193,057
Additions	–	3,680	3,680
Disposals	( 468)	( 76,523)	( 76,991)
	--------	---------	---------
At 31 December 2023	71,919	47,827	119,746
	--------	---------	---------
Depreciation
At 1 January 2023	49,283	81,410	130,693
Charge for the year	15,296	18,213	33,509
Disposals	( 160)	( 74,961)	( 75,121)
	--------	---------	---------
At 31 December 2023	64,419	24,662	89,081
	--------	---------	---------
Carrying amount
At 31 December 2023	7,500	23,165	30,665
	--------	---------	---------
At 31 December 2022	23,104	39,260	62,364
	--------	---------	---------

7. DEBTORS

	2023	2022
	£	£
Trade debtors	370,131	132,649
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,266,704	1,384,020
Other debtors	840,119	62,053
	------------	------------
	3,476,954	1,578,722
	------------	------------

8. CREDITORS: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	232,597	117,847
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,833,288	1,729,663
Corporation tax	–	7,680
Social security and other taxes	296,014	205,078
Other creditors	238,433	82,635
	------------	------------
	4,600,332	2,142,903
	------------	------------

9. SUMMARY AUDIT OPINION

The auditor's report for the year dated 29 April 2024 was unqualified .

The senior statutory auditor was Gavin Snape ACA , for and on behalf of Meadows & Co Limited .

10. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 102 not to disclose any transactions with other companies within a 100% owned group.

11. PARENT UNDERTAKING

The smallest company which prepares consolidated accounts which includes the results of the company is Leads B.V . a company incorporated in the Netherlands, with a registered office address of Nieuwe Steen 27, 1625 HV, Hoorn, The Netherlands .