Silverfin false 31/03/2023 01/04/2022 31/03/2023 N Drew 01/09/2006 M Janson 19/07/2011 M Oxley 23/05/2022 C Pikes 14/11/2022 01/07/2005 R Shinde 22/03/2017 S Tye 26/01/2006 07 March 2024 The principal activity of the Company during the financial year is development of computer software, distribution and training. 05497088 2023-03-31 05497088 bus:Director1 2023-03-31 05497088 bus:Director2 2023-03-31 05497088 bus:Director3 2023-03-31 05497088 bus:Director4 2023-03-31 05497088 bus:Director5 2023-03-31 05497088 bus:Director6 2023-03-31 05497088 2022-03-31 05497088 core:CurrentFinancialInstruments 2023-03-31 05497088 core:CurrentFinancialInstruments 2022-03-31 05497088 core:ShareCapital 2023-03-31 05497088 core:ShareCapital 2022-03-31 05497088 core:SharePremium 2023-03-31 05497088 core:SharePremium 2022-03-31 05497088 core:RetainedEarningsAccumulatedLosses 2023-03-31 05497088 core:RetainedEarningsAccumulatedLosses 2022-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-03-31 05497088 core:OtherResidualIntangibleAssets 2022-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 05497088 core:OtherResidualIntangibleAssets 2023-03-31 05497088 core:LeaseholdImprovements 2022-03-31 05497088 core:OfficeEquipment 2022-03-31 05497088 core:LeaseholdImprovements 2023-03-31 05497088 core:OfficeEquipment 2023-03-31 05497088 2022-04-01 2023-03-31 05497088 bus:FullAccounts 2022-04-01 2023-03-31 05497088 bus:SmallEntities 2022-04-01 2023-03-31 05497088 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05497088 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05497088 bus:Director1 2022-04-01 2023-03-31 05497088 bus:Director2 2022-04-01 2023-03-31 05497088 bus:Director3 2022-04-01 2023-03-31 05497088 bus:Director4 2022-04-01 2023-03-31 05497088 bus:Director5 2022-04-01 2023-03-31 05497088 bus:Director6 2022-04-01 2023-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:BottomRangeValue 2022-04-01 2023-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2022-04-01 2023-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-04-01 2023-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-04-01 2023-03-31 05497088 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-04-01 2023-03-31 05497088 core:OfficeEquipment core:BottomRangeValue 2022-04-01 2023-03-31 05497088 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 05497088 2021-04-01 2022-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-01 2023-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2022-04-01 2023-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-04-01 2023-03-31 05497088 core:OtherResidualIntangibleAssets 2022-04-01 2023-03-31 05497088 core:LeaseholdImprovements 2022-04-01 2023-03-31 05497088 core:OfficeEquipment 2022-04-01 2023-03-31 05497088 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 05497088 (England and Wales)

IMAGE ANALYSER LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

IMAGE ANALYSER LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

IMAGE ANALYSER LIMITED

BALANCE SHEET

As at 31 March 2023
IMAGE ANALYSER LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 904,960 1,020,575
Tangible assets 4 85,082 72,543
990,042 1,093,118
Current assets
Debtors 5 216,207 59,088
Cash at bank and in hand 679,510 271,602
895,717 330,690
Creditors: amounts falling due within one year 6 ( 449,203) ( 67,902)
Net current assets 446,514 262,788
Total assets less current liabilities 1,436,556 1,355,906
Net assets 1,436,556 1,355,906
Capital and reserves
Called-up share capital 10,000 10,000
Share premium account 230,279 230,279
Profit and loss account 1,196,277 1,115,627
Total shareholders' funds 1,436,556 1,355,906

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 financial statements of Image Analyser Limited (registered number: 05497088) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

S Tye
Director
IMAGE ANALYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
IMAGE ANALYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Image Analyser Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 - 10 years straight line
Trademarks, patents and licences 10 years straight line
Website costs 5 years straight line
Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Office equipment 2 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Development costs Trademarks, patents
and licences
Website costs Other intangible assets Total
£ £ £ £ £
Cost
At 01 April 2022 2,342,577 262,224 9,830 85,219 2,699,850
Additions 0 53,877 0 0 53,877
At 31 March 2023 2,342,577 316,101 9,830 85,219 2,753,727
Accumulated amortisation
At 01 April 2022 1,495,864 92,294 5,898 85,219 1,679,275
Charge for the financial year 141,304 26,222 1,966 0 169,492
At 31 March 2023 1,637,168 118,516 7,864 85,219 1,848,767
Net book value
At 31 March 2023 705,409 197,585 1,966 0 904,960
At 31 March 2022 846,713 169,930 3,932 0 1,020,575

4. Tangible assets

Leasehold improve-
ments
Office equipment Total
£ £ £
Cost
At 01 April 2022 70,826 45,294 116,120
Additions 0 15,747 15,747
At 31 March 2023 70,826 61,041 131,867
Accumulated depreciation
At 01 April 2022 0 43,577 43,577
Charge for the financial year 0 3,208 3,208
At 31 March 2023 0 46,785 46,785
Net book value
At 31 March 2023 70,826 14,256 85,082
At 31 March 2022 70,826 1,717 72,543

5. Debtors

2023 2022
£ £
Trade debtors 89,518 58,598
Other debtors 126,689 490
216,207 59,088

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 23,397 9,753
Taxation and social security 95,836 36,796
Other creditors 329,970 21,353
449,203 67,902

7. Events after the Balance Sheet date

The Directors of Image Analyser have started legal proceedings against a former employee for potential misuse of company funds.

On this basis, the Board is aware that there may be material errors in the opening balance of retained earnings in the balance sheet and expenditure through the Profit and Loss statement and may require restatement following the resolution of such proceedings.

8. Related Party Transactions

Crispin Pikes

2023 2022
£ £
Short term employee benefits 78,437 100,000
Consulting/ services 11,864 60,340
Other benefits 1,067 12,800
91,368 173,140

Stephen Tye

2023 2022
£ £
Loans 0 8,333
Consulting/ services 120,000 100,000
120,000 108,333

Nicholas Drew

2023 2022
£ £
Short term employee benefits 120,000 100,000

9. Revenue recognition and tax correction

Sales revenue has been reviewed and re-presented such that revenue is recognised when it is earned not when cash is received. See Notes to the Financial Statements (1. Accounting Policies - Turnover)

The amounts required to correct this timing error for taxable sales are reflected as a separate line item below standard operating profit to ensure turnover is correctly reflected in 2023 and 2022. The correction in 2023 is £123,640 (2022: £ 15,131). Turnover has been restated in 2022 to reflect the actual amount as per the accounting policy.