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REGISTERED NUMBER: 11065989 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ICERTIS GROUP LTD

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ICERTIS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







Directors: S Bodas
R Bahri
J M Dreikosen
P Kramer





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 11065989 (England and Wales)





Auditors: Mark Arber Limited
Statutory Auditors
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 38,318 769

CURRENT ASSETS
Debtors 5 592,880 1,160,025
Cash at bank 905,710 326,702
1,498,590 1,486,727
CREDITORS
Amounts falling due within one year 6 (1,025,070 ) (1,139,297 )
NET CURRENT ASSETS 473,520 347,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,838

348,199

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 511,738 348,099
SHAREHOLDERS' FUNDS 511,838 348,199

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





S Bodas - Director


ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Icertis Group Ltd is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost

Financial instruments
The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related
parties and investments in non-puttable ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance Sheet when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The Company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of debtors are recognised in the Statement of profit and loss in administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2021 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2022 - - 7,862 7,862
Additions 14,423 20,000 10,402 44,825
At 31 December 2022 14,423 20,000 18,264 52,687
Depreciation
At 1 January 2022 - - 7,093 7,093
Charge for year 2,192 2,889 2,195 7,276
At 31 December 2022 2,192 2,889 9,288 14,369
Net book value
At 31 December 2022 12,231 17,111 8,976 38,318
At 31 December 2021 - - 769 769

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 427,498 1,074,913
Other debtors 67,901 48,539
VAT 50,039 20,564
Deferred tax asset 11,380 6,058
Prepayments 36,062 9,951
592,880 1,160,025

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 61,361 14,429
Tax 146,964 39,949
Social security and other taxes 241,456 243,463
Accrued expenses 575,289 841,456
1,025,070 1,139,297

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary Share Capital £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

9. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £120,568 (2021 - £61,884). Contributions totalling £29,772 (2021 - £13,983) were payable to the fund at the balance sheet date and are included in creditors.

10. SHARE-BASED PAYMENT TRANSACTIONS

The Company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Icertis, Inc., company incorporated in USA whose registered office is at 14711 NE 29th Place, Suite 100 Bellevue, Washington 98007, United States.