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Registration number: 09496125

i 3 Solutions Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

i 3 Solutions Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

i 3 Solutions Group Limited

Company Information

Directors

K Johnstone

E Ansett

L Neville

P Gross

Registered office

Grosvenor Lodge
72 Grosvenor Road
Tunbridge Wells
Kent
TN1 2AZ

 

i 3 Solutions Group Limited

(Registration number: 09496125)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

24,034

16,060

Current assets

 

Debtors

5

1,462,725

895,452

Cash at bank and in hand

 

1,732,013

1,112,642

 

3,194,738

2,008,094

Creditors: Amounts falling due within one year

6

(2,175,183)

(1,185,977)

Net current assets

 

1,019,555

822,117

Total assets less current liabilities

 

1,043,589

838,177

Provisions for liabilities

(6,008)

(3,051)

Net assets

 

1,037,581

835,126

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,037,580

835,125

Shareholders' funds

 

1,037,581

835,126

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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

i 3 Solutions Group Limited

(Registration number: 09496125)
Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
E Ansett
Director

 

i 3 Solutions Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Grosvenor Lodge
72 Grosvenor Road
Tunbridge Wells
Kent
TN1 2AZ

These financial statements were authorised for issue by the Board on 20 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

i 3 Solutions Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33.3% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

i 3 Solutions Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2022 - 14).

 

i 3 Solutions Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

47,562

47,562

Additions

29,772

29,772

At 31 March 2023

77,334

77,334

Depreciation

At 1 April 2022

31,502

31,502

Charge for the year

21,798

21,798

At 31 March 2023

53,300

53,300

Carrying amount

At 31 March 2023

24,034

24,034

At 31 March 2022

16,060

16,060

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,409,347

884,363

Prepayments

41,950

2,716

Other debtors

11,428

8,373

 

1,462,725

895,452

 

i 3 Solutions Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

143,584

91,989

Taxation and social security

276,238

359,115

Accruals and deferred income

1,128,849

329,005

Other creditors

626,512

405,868

2,175,183

1,185,977

Included in other creditors due within one year is an interest free loan to the value of £4,264 (2021 : £Nil) owed to the directors of the company which is repayable on demand.

7

Related party transactions

During the year the company was invoiced for management charges by Independent Intelligent Infrastructure Limited totalling £4,000 (2022: £997).

Included in other debtors on the balance sheet is an amount of £4,052 (2022: £997) due from Independent Intelligent Infrastructure Limited.

Included in other debtors on the balance sheet is an amount of £7,376 (2022: £7,376) due from Data Centre Incident Reporting Network.

Included in trade debtors due from i 3 Critical Facilities Pte Ltd £12,124.27 (2022: £Nil).

i 3 Critical Facilities Pte, Independent Intelligent Infrastructure Limited and Data Centre Incident Reporting Network all have common directors with i3 Solutions Group Limited.