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REGISTERED NUMBER: 09393584 (England)















Financial Statements

for the Period

1 February 2021 to 31 December 2021

for

IATBM Ltd

IATBM Ltd (Registered number: 09393584)

Contents of the Financial Statements
for the Period 1 February 2021 to 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IATBM Ltd

Company Information
for the Period 1 February 2021 to 31 December 2021







DIRECTOR: C F Gamon



REGISTERED OFFICE: 100 Avebury Boulevard
Milton Keynes
MK9 1FH



REGISTERED NUMBER: 09393584 (England)



SENIOR STATUTORY AUDITOR: Caroline Peverett BA FCA



AUDITORS: Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG

IATBM Ltd (Registered number: 09393584)

Balance Sheet
31 December 2021

31.12.21 31.1.21
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 9,236 18,314
Tangible assets 6 2,287 1,087
11,523 19,401

CURRENT ASSETS
Stocks 186,719 268,220
Debtors 7 27,580 39,912
Cash at bank 78,473 22,270
292,772 330,402
CREDITORS
Amounts falling due within one year 8 546,955 223,959
NET CURRENT (LIABILITIES)/ASSETS (254,183 ) 106,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

(242,660

)

125,844

CREDITORS
Amounts falling due after more than one
year

9

-

50,000
NET (LIABILITIES)/ASSETS (242,660 ) 75,844

CAPITAL AND RESERVES
Called up share capital 10 1 1
Share premium 13,909 -
Retained earnings (256,570 ) 75,843
SHAREHOLDERS' FUNDS (242,660 ) 75,844

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 director and authorised for issue on 10 November 2023 and were signed by:





C F Gamon - Director


IATBM Ltd (Registered number: 09393584)

Notes to the Financial Statements
for the Period 1 February 2021 to 31 December 2021


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

These financial statements cover a 11 month period. Accordingly, the comparative results are not comparable. The accounting period was shortened to bring the accounting reference date in line with that of it's parent company.

The financial statements have been prepared under the going concern concept due to the fact that the company has the continued support of it's parent company. The director has been given assurance that this support will continue for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Patents & Licences - 10% SL.

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% SL
Fixtures & Fittings - 33% RB

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.


IATBM Ltd (Registered number: 09393584)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 December 2021


3. ACCOUNTING POLICIES - continued
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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2021 18,592
Additions 5,795
Disposals (13,476 )
At 31 December 2021 10,911
AMORTISATION
At 1 February 2021 278
Charge for period 1,397
At 31 December 2021 1,675
NET BOOK VALUE
At 31 December 2021 9,236
At 31 January 2021 18,314

IATBM Ltd (Registered number: 09393584)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 December 2021


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021 2,641
Additions 2,181
At 31 December 2021 4,822
DEPRECIATION
At 1 February 2021 1,554
Charge for period 981
At 31 December 2021 2,535
NET BOOK VALUE
At 31 December 2021 2,287
At 31 January 2021 1,087

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.1.21
as restated
£    £   
Trade debtors - 11,726
Other debtors 27,580 28,186
27,580 39,912

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.1.21
as restated
£    £   
Bank loans and overdrafts - 42,688
Trade creditors 70,910 54,492
Amounts owed to group undertakings 322,889 -
Taxation and social security 127,996 39,115
Other creditors 25,160 87,664
546,955 223,959

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.1.21
as restated
£    £   
Bank loans - 50,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.1.21
value: as restated
£    £   
1,020,000 Ordinary 0.000001 1 1

IATBM Ltd (Registered number: 09393584)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 31 December 2021


10. CALLED UP SHARE CAPITAL - continued

20,000 Ordinary shares of 0.000001 each were allotted as fully paid at a premium of £0.6955 per share during the period.

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

The Report of the Auditors was qualified on the following basis:

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

We were not appointed as auditor of the company until after 31 December 2021 and thus did not observe the counting of physical inventories at 31 January 2021 and 31 December 2021. We were unable to satisfy ourselves by alternative means concerning inventory quantities held at 31 January 2021 and 31 December 2021, which are included in the balance sheet at a value of £268,220 and £186,719 respectively, by using other audit procedures.
Consequently we were unable to determine whether any adjustment to these amounts was necessary.

Caroline Peverett BA FCA (Senior Statutory Auditor)
for and on behalf of Tuerner Audit Limited

12. SHARE-BASED PAYMENT TRANSACTIONS

The company had reserved 20,000 shares for issuance as stock options under its Enterprise Management Incentive (EMI) scheme ("the EMI scheme").

These shares were exercised in 2021 at an exercise price of £0.03 per share. The market value of the shares on exercise was £13,909 and the scheme was subsequently closed.

13. CHANGE IN ACCOUNTING ESTIMATE

The annual amortisation rate applied to capitalised patents and trademarks has been changed from 4% of cost in the prior periods to 10% of cost for future periods.. The change in amortisation rate as been made to better reflect the useful economic life of these intangible assets

This change in accounting estimate will result in an annual increase in the amortisation charged to the profit and loss account of £655.

14. PARENT COMPANY

The parent of the smallest group into which the company's accounts are consolidated is the ultimate parent of the group Razor Group GmbH, whose address is Prinzessinnenstraße 20, 10969, Berlin, Germany.