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REGISTERED NUMBER: 10684049 (England and Wales)




















Financial Statements

for the Year Ended 31 December 2023

for

ioMosaic International Limited

ioMosaic International Limited (Registered number: 10684049)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ioMosaic International Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Dr G A Melhem
Dr J C Barker





SECRETARY: Dr G A Melhem





REGISTERED OFFICE: 16-18 Queen Square
Bath
Bath & NE Somerset
BA1 2HN





REGISTERED NUMBER: 10684049 (England and Wales)

ioMosaic International Limited (Registered number: 10684049)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,012 60,557

CURRENT ASSETS
Debtors 5 1,456,718 649,424
Cash at bank 31,407 39,392
1,488,125 688,816
CREDITORS
Amounts falling due within one year 6 951,365 342,015
NET CURRENT ASSETS 536,760 346,801
TOTAL ASSETS LESS CURRENT
LIABILITIES

587,772

407,358

PROVISIONS FOR LIABILITIES 5,590 7,313
NET ASSETS 582,182 400,045

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 572,182 390,045
582,182 400,045

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 5 September 2024 and were signed on its behalf by:





Dr J C Barker - Director


ioMosaic International Limited (Registered number: 10684049)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ioMosaic International 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on straight line basis
Fixtures and fittings - over period of lease
Computer equipment - 33% on straight line basis

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

ioMosaic International Limited (Registered number: 10684049)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 19,450 49,803 74,950 144,203
Additions - 3,486 6,939 10,425
Disposals - (450 ) (219 ) (669 )
At 31 December 2023 19,450 52,839 81,670 153,959
DEPRECIATION
At 1 January 2023 6,137 18,629 58,880 83,646
Charge for year 1,945 5,111 12,319 19,375
Eliminated on disposal - (7 ) (67 ) (74 )
At 31 December 2023 8,082 23,733 71,132 102,947
NET BOOK VALUE
At 31 December 2023 11,368 29,106 10,538 51,012
At 31 December 2022 13,313 31,174 16,070 60,557

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 26,344 -
Amounts owed by group undertakings 1,383,648 595,625
Other debtors 315 292
VAT 5,338 3,148
Prepayments and accrued income 5,191 14,477
1,420,836 613,542

Amounts falling due after more than one year:
Other debtors 35,882 35,882

Aggregate amounts 1,456,718 649,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 482 9,962
Amounts owed to group undertakings 702,863 136,090
Tax 55,069 30,349
Social security and other taxes 25,183 17,084
Other creditors 5,305 337
Accruals and deferred income 162,463 148,193
951,365 342,015

ioMosaic International Limited (Registered number: 10684049)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 62,505 60,000
Between one and five years 209,943 240,000
In more than five years - 25,000
272,448 325,000

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

The Report of the Auditors was unqualified.

Martin Longmore (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Georges Melhem.

The ultimate parent company is IoMosaic Corporation, a company registered in the USA. Copies of the financial statements of IoMosaic Corporation may be obtained from:-

93 Stiles Road
Salem
New Hampshire 03079
USA