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REGISTERED NUMBER: 02749646 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Innate Management Systems Limited

Innate Management Systems Limited (Registered number: 02749646)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Innate Management Systems Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: B Muir
M Watts





SECRETARY: B Muir





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 02749646 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Innate Management Systems Limited (Registered number: 02749646)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000 1,000
Tangible assets 5 - 310
1,000 1,310

CURRENT ASSETS
Debtors 6 10,910 16,724
Cash at bank 522,735 377,647
533,645 394,371
CREDITORS
Amounts falling due within one year 7 249,281 215,259
NET CURRENT ASSETS 284,364 179,112
TOTAL ASSETS LESS CURRENT LIABILITIES 285,364 180,422

CAPITAL AND RESERVES
Called up share capital 9 9,285 9,285
Capital redemption reserve 715 715
Share option reserve 38,049 30,439
Retained earnings 237,315 139,983
SHAREHOLDERS' FUNDS 285,364 180,422

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

Innate Management Systems Limited (Registered number: 02749646)

Balance Sheet - continued
30 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 8 March 2024 and were signed on its behalf by:




B Muir - Director



M Watts - Director


Innate Management Systems Limited (Registered number: 02749646)

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

1. STATUTORY INFORMATION

Innate Management Systems Limited 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.

Income from product sales and services is recognised following the supply of goods or service but is deferred so that it is recognised over the period of the service.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of rights and assets of a business in 1998, has been written off evenly over its estimated useful life of 10 years.

Intellectual property rights
Intellectual property rights (IPR) are disclosed at purchase value less any provision for diminution in value. Based on a recurring support income, and continuing software sales, a realisable value would be greatly in excess of the £1,000 value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 5 years straight line
Computer equipment - 3 years straight line

Innate Management Systems Limited (Registered number: 02749646)

Notes to the Financial Statements - continued
for the Year Ended 30 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.

Debt instruments, including accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

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 the Statement of Comprehensive Income.

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 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 balance sheet date.

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.

Share based payments
Share options existing as at the balance sheet date have been valued as at the grant date less any impairment.

Innate Management Systems Limited (Registered number: 02749646)

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

2. ACCOUNTING POLICIES - continued

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.

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 the profit and loss account in the period to which they relate.

Group accounts
The company and its subsidiary undertaking comprise of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts. The financial statements therefore present information about the company as an individual undertaking and not about its group.

Impairment policy
At each reporting date fixed assets, including tangible fixed assets and investments are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill I.P.R Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 62,500 1,000 63,500
AMORTISATION
At 1 October 2022
and 30 September 2023 62,500 - 62,500
NET BOOK VALUE
At 30 September 2023 - 1,000 1,000
At 30 September 2022 - 1,000 1,000

Innate Management Systems Limited (Registered number: 02749646)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 9,683
Additions 599
Disposals (10,283 )
At 30 September 2023 (1 )
DEPRECIATION
At 1 October 2022 9,373
Charge for year 909
Eliminated on disposal (10,283 )
At 30 September 2023 (1 )
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,291 4,362
Other debtors 2,619 12,362
10,910 16,724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,971 7,421
Taxation and social security 69,735 34,509
Other creditors 173,575 173,329
249,281 215,259

Included in other creditors is an amount owed to the directors.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 21,000
Between one and five years - 21,000
- 42,000

Innate Management Systems Limited (Registered number: 02749646)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,285 Ordinary £1 9,285 9,285

EMI share options were granted in the year ended 30 September 2019 where a total of 2,810 shares can be purchased at £10.34 per share. The options are exercisable on the satisfaction of certain criteria. As at 30 September 2023 none of these options are exercisable.