Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2true2022-03-29falseImpulse 9 Capital Limited is a private company, limited by sharestruefalse 14009913 2022-03-28 14009913 2022-03-29 2023-03-31 14009913 2021-04-01 2022-03-28 14009913 2023-03-31 14009913 c:Director1 2022-03-29 2023-03-31 14009913 d:ComputerSoftware 2023-03-31 14009913 d:CurrentFinancialInstruments 2023-03-31 14009913 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14009913 d:ShareCapital 2023-03-31 14009913 d:RetainedEarningsAccumulatedLosses 2023-03-31 14009913 c:FRS102 2022-03-29 2023-03-31 14009913 c:AuditExempt-NoAccountantsReport 2022-03-29 2023-03-31 14009913 c:FullAccounts 2022-03-29 2023-03-31 14009913 c:PrivateLimitedCompanyLtd 2022-03-29 2023-03-31 14009913 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-03-29 2023-03-31 14009913 2 2022-03-29 2023-03-31 14009913 e:USDollar 2022-03-29 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 14009913









IMPULSE 9 CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
IMPULSE 9 CAPITAL LIMITED
REGISTERED NUMBER: 14009913

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
$

Fixed assets
  

Intangible assets
 4 
2,406,659

  
2,406,659

Current assets
  

Stocks
 5 
327,917

Debtors: amounts falling due within one year
 6 
230,105

Cash at bank and in hand
  
94,939

  
652,961

Creditors: amounts falling due within one year
 8 
(1,845,402)

Net current (liabilities)/assets
  
 
 
(1,192,441)

Total assets less current liabilities
  
1,214,218

  

Net assets
  
1,214,218


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
1,214,217

  
1,214,218


Page 1

 
IMPULSE 9 CAPITAL LIMITED
REGISTERED NUMBER: 14009913
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2024.




Zhe Hong Lim
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
IMPULSE 9 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Impulse 9 Capital Limited is a private company, limited by shares, registered in England and Wales, registration number 14009913.
The registered office is 22 Chancery Lane, London, England, WC2A 1LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
IMPULSE 9 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4

 
IMPULSE 9 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Intangible assets consisting of digital assets held for investment are determined to have an indefinite useful economic life. These assets are therefore not amortised but reviewed and tested for impairment on a regular basis. FRS 102 states that all intangible assets are deemed to have a finite life. Therefore to apply indefinite life requires a true and fair override of FRS 102. Indefinite life best reflects the substance of Digital assets. 



 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Stocks are solely comprises of various cryptocurrencies and digital assets held at the balance sheet date, held as part of the company's ordinary activities.
 



 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
IMPULSE 9 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2023
            No.






Average number of employees
2


4.


Intangible assets



Digital Assets

$



Cost


Additions
2,406,659



At 31 March 2023

2,406,659






Net book value



At 31 March 2023
2,406,659




5.


Stocks

2023
$

Cryptoassets held for Trading
327,917

327,917



6.


Debtors

2023
$


Staking Receivables & Liquidity Pool Deposits
230,105

230,105


Page 6

 
IMPULSE 9 CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
$

Cash at bank and in hand
94,939

94,939



8.


Creditors: Amounts falling due within one year

2023
$

Corporation tax
284,816

Director - loan/current account
857,297

Other creditors
641,569

Accruals
61,720

1,845,402


 
Page 7