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REGISTERED NUMBER: 12854897 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30th September 2023

for

Imabi Ltd

Imabi Ltd (Registered number: 12854897)

Contents of the Financial Statements
for the Year Ended 30th September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Imabi Ltd

Company Information
for the Year Ended 30th September 2023







DIRECTORS: M J Balaam
P Bush





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 12854897 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Imabi Ltd (Registered number: 12854897)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,030,654 1,757,230
Tangible assets 5 3,199 -
2,033,853 1,757,230

CURRENT ASSETS
Debtors 6 153,535 6,089
Cash at bank and in hand 256,795 142,611
410,330 148,700
CREDITORS
Amounts falling due within one year 7 41,339 129,867
NET CURRENT ASSETS 368,991 18,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,402,844

1,776,063

CREDITORS
Amounts falling due after more than one
year

8

(2,177,787

)

(1,799,751

)

PROVISIONS FOR LIABILITIES (286,069 ) -
NET LIABILITIES (61,012 ) (23,688 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (62,012 ) (24,688 )
SHAREHOLDERS' FUNDS (61,012 ) (23,688 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Imabi Ltd (Registered number: 12854897)

Balance Sheet - continued
30th September 2023


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 13th February 2024 and were signed on its behalf by:





P Bush - Director


Imabi Ltd (Registered number: 12854897)

Notes to the Financial Statements
for the Year Ended 30th September 2023


1. STATUTORY INFORMATION

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


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.

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
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation commences when the intangible asset is available for use.

Amortisation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Development costs-over 10 years

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

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

Plant and machinery-25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Imabi Ltd (Registered number: 12854897)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023


2. ACCOUNTING POLICIES - continued

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

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised 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.

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


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.

Imabi Ltd (Registered number: 12854897)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023


2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Developme
costs
£   
COST
At 1st October 2022 1,757,230
Additions 273,424
At 30th September 2023 2,030,654
NET BOOK VALUE
At 30th September 2023 2,030,654
At 30th September 2022 1,757,230

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 4,265
At 30th September 2023 4,265
DEPRECIATION
Charge for year 1,066
At 30th September 2023 1,066
NET BOOK VALUE
At 30th September 2023 3,199

Imabi Ltd (Registered number: 12854897)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,800 -
Other debtors 148,735 6,089
153,535 6,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,760 93,866
Taxation and social security 5,991 17,962
Other creditors 11,588 18,039
41,339 129,867

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 2,177,787 1,799,751