24 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 116,153 5,808 23,232 29,040 87,113 110,345 xbrli:pure xbrli:shares iso4217:GBP 13829439 2023-04-01 2024-03-31 13829439 2024-03-31 13829439 2023-03-31 13829439 2022-01-05 2023-03-31 13829439 2023-03-31 13829439 2022-01-04 13829439 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 13829439 core:FurnitureFittings 2023-04-01 2024-03-31 13829439 bus:Director1 2023-04-01 2024-03-31 13829439 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 13829439 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 13829439 core:FurnitureFittings 2024-03-31 13829439 core:WithinOneYear 2024-03-31 13829439 core:WithinOneYear 2023-03-31 13829439 core:AfterOneYear 2024-03-31 13829439 core:AfterOneYear 2023-03-31 13829439 core:ShareCapital 2024-03-31 13829439 core:ShareCapital 2023-03-31 13829439 core:SharePremium 2024-03-31 13829439 core:SharePremium 2023-03-31 13829439 core:RetainedEarningsAccumulatedLosses 2024-03-31 13829439 core:RetainedEarningsAccumulatedLosses 2023-03-31 13829439 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 13829439 bus:SmallEntities 2023-04-01 2024-03-31 13829439 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13829439 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13829439 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13829439 bus:FullAccounts 2023-04-01 2024-03-31 13829439 core:ComputerEquipment 2023-04-01 2024-03-31 13829439 core:ComputerEquipment 2023-03-31 13829439 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 13829439
Isometric HQ Ltd
Filleted Unaudited Financial Statements
31 March 2024
Isometric HQ Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Isometric HQ Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
87,113
110,345
Tangible assets
6
111,127
39,844
---------
---------
198,240
150,189
Current assets
Debtors
7
1,006,823
88,463
Cash at bank and in hand
15,305,994
19,462,612
-------------
-------------
16,312,817
19,551,075
Creditors: amounts falling due within one year
8
273,047
29,296
-------------
-------------
Net current assets
16,039,770
19,521,779
-------------
-------------
Total assets less current liabilities
16,238,010
19,671,968
Creditors: amounts falling due after more than one year
9
146,108
74,570
-------------
-------------
Net assets
16,091,902
19,597,398
-------------
-------------
Capital and reserves
Called up share capital
205
205
Share premium account
20,914,333
20,914,333
Profit and loss account
( 4,822,636)
( 1,317,140)
-------------
-------------
Shareholders funds
16,091,902
19,597,398
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Isometric HQ Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr E Jubbawy
Director
Company registration number: 13829439
Isometric HQ Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Isometric Hq Ltd, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
33% straight line
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2023: 7 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 April 2023 and 31 March 2024
116,153
---------
Amortisation
At 1 April 2023
5,808
Charge for the year
23,232
---------
At 31 March 2024
29,040
---------
Carrying amount
At 31 March 2024
87,113
---------
At 31 March 2023
110,345
---------
6. Tangible assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
44,473
44,473
Additions
40,167
61,946
102,113
Disposals
( 3,277)
( 3,277)
--------
---------
---------
At 31 March 2024
40,167
103,142
143,309
--------
---------
---------
Depreciation
At 1 April 2023
4,629
4,629
Charge for the year
2,106
25,683
27,789
Disposals
( 236)
( 236)
--------
---------
---------
At 31 March 2024
2,106
30,076
32,182
--------
---------
---------
Carrying amount
At 31 March 2024
38,061
73,066
111,127
--------
---------
---------
At 31 March 2023
39,844
39,844
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
19,729
10,305
Other debtors
987,094
78,158
------------
--------
1,006,823
88,463
------------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,030
Trade creditors
273,047
28,266
---------
--------
273,047
29,296
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Social security and other taxes
130,183
66,420
Other creditors
15,925
8,150
---------
--------
146,108
74,570
---------
--------