Company Registration No. 10915243 (England and Wales)
Imaginovation Fintech Solutions Group UK Limited
Unaudited accounts
for the year ended 31 December 2022
Imaginovation Fintech Solutions Group UK Limited
Unaudited accounts
Contents
Imaginovation Fintech Solutions Group UK Limited
Company Information
for the year ended 31 December 2022
Director
Jean Jacques Chalopin
Secretary
Quayseco Limited
Company Number
10915243 (England and Wales)
Registered Office
One
Glass Wharf
Bristol
BS2 0ZX
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Imaginovation Fintech Solutions Group UK Limited
Accountants' report
Accountants' report to the director of Imaginovation Fintech Solutions Group UK Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Imaginovation Fintech Solutions Group UK Limited for the year ended
31 December 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Imaginovation Fintech Solutions Group UK Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Imaginovation Fintech Solutions Group UK Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Imaginovation Fintech Solutions Group UK Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Imaginovation Fintech Solutions Group UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Imaginovation Fintech Solutions Group UK Limited. You consider that Imaginovation Fintech Solutions Group UK Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Imaginovation Fintech Solutions Group UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
22 September 2023
Imaginovation Fintech Solutions Group UK Limited
Statement of financial position
as at 31 December 2022
Called up share capital not paid
-
1
Investments
(539,531)
(472,631)
Cash at bank and in hand
(151,315)
226,478
Creditors: amounts falling due within one year
(2,121,368)
(3,057,720)
Net current liabilities
(2,272,682)
(2,822,243)
Net liabilities
(2,812,073)
(3,294,522)
Called up share capital
1
1
Share premium
1,504,997
842,156
Profit and loss account
(4,317,071)
(4,136,679)
Shareholders' funds
(2,812,073)
(3,294,522)
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 September 2023 and were signed on its behalf by
Jean Jacques Chalopin
Director
Company Registration No. 10915243
Imaginovation Fintech Solutions Group UK Limited
Notes to the Accounts
for the year ended 31 December 2022
Imaginovation Fintech Solutions Group UK Limited is a private company, limited by shares, registered in England and Wales, registration number 10915243. The registered office is One, Glass Wharf, Bristol, BS2 0ZX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ GBP
Imaginovation Fintech Solutions Group UK Limited is 100% owned by International Financial Services Group (Bahamas) Ltd. The UK entity contracts for software development and IT consultancy for the wider global group and is not revenue generating.
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company as it provides a vital service for the wider group.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Fixtures & fittings
Imaginovation Fintech Solutions Group UK Limited
Notes to the Accounts
for the year ended 31 December 2022
5
Investments
Subsidiary undertakings
Valuation at 1 January 2022
(472,631)
Fair value adjustments
(69,149)
Valuation at 31 December 2022
(539,531)
International Financial Services Group (Be). Capital investment of £55,258 (£55,258) and 'equity pick-up' of -£527,889 (-£469,127)
Amounts falling due within one year
Accrued income and prepayments
-
8,999
7
Creditors: amounts falling due within one year
2022
2021
Amounts owed to group undertakings and other participating interests
1,877,592
2,319,944
8
Transactions with related parties
On the balance sheet at the end of the accounting period, a sum of £1,877,592 is owed to International Financial Services Group (Bahamas) Ltd and is repayable on demand
The ultimate Controlling Party is, International Financial Services Group (Bahamas) Ltd, by virtue of its 100% shareholding:
Address: Deltec House, Lyford Cay, P.O. Box N-3229, Nassau Bahamas
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).