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Registration number: 12570813

Prepared for the registrar

Intelligent Index Marketing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Intelligent Index Marketing Limited

(Registration number: 12570813)
Balance Sheet as at 30 September 2023

Note

30 September
2023
£

30 September
2022
£

Fixed assets

 

Intangible assets

4

627,023

449,078

Tangible assets

5

1,979

4,665

Investments

6

1

1

 

629,003

453,744

Current assets

 

Debtors

7

32,372

2,444

Cash at bank and in hand

 

41,597

246,904

 

73,969

249,348

Creditors: Amounts falling due within one year

8

(31,276)

(62,608)

Net current assets

 

42,693

186,740

Total assets less current liabilities

 

671,696

640,484

Creditors: Amounts falling due after more than one year

8

(270,000)

(240,000)

Net assets

 

401,696

400,484

Capital and reserves

 

Called up share capital

10

1

1

Share premium reserve

400,000

400,000

Profit and loss account

1,695

483

Shareholders' funds

 

401,696

400,484

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 September 2024
 


Mr B D Fielder
Director

 

Intelligent Index Marketing Limited

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

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
The Limes
Bayshill Road
Cheltenham
GL50 3AW
England

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Intelligent Index Marketing Limited

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

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in Other Comprehensive Income.

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

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

20% straight line

Intangible assets

Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Development costs

Development costs are expensed in the period in which they are incurred, unless they meet the criteria of internally generated intangible assets. Development costs which have met the criteria of internally generated intangible assets have been capitalised and are amortised to the Profit and Loss Account. Amortisation starts in the accounting period following their recognition and is applied over their estimated useful life as follows:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software costs

20% straight line once asset is brought into production

Domain names

20% straight line once asset is brought into production

Website Development costs

20% straight line once asset is brought into production

 

Intelligent Index Marketing Limited

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

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the Balance Sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the Profit and Loss Account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
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 profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

 

Intelligent Index Marketing Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar expenses.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Intelligent Index Marketing Limited

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

 

4

Intangible assets

Software costs
 £

Domain names
 £

Website Development costs
 £

Total
£

Cost

At 1 October 2022

250,000

8,701

190,377

449,078

Additions

-

-

177,945

177,945

At 30 September 2023

250,000

8,701

368,322

627,023

Amortisation

At 1 October 2022

-

-

-

-

At 30 September 2023

-

-

-

-

Carrying amount

At 30 September 2023

250,000

8,701

368,322

627,023

At 30 September 2022

250,000

8,701

190,377

449,078

 

5

Tangible assets

Computer equipment
 £

Cost

At 1 October 2022

8,105

Disposals

(4,405)

At 30 September 2023

3,700

Depreciation

At 1 October 2022

3,440

Charge for the year

1,254

Eliminated on disposal

(2,973)

At 30 September 2023

1,721

Carrying amount

At 30 September 2023

1,979

At 30 September 2022

4,665

 

Intelligent Index Marketing Limited

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

 

6

Investments

30 September
2023
£

30 September
2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost

At 1 October 2022

1

At 30 September 2023

1

Carrying amount

At 30 September 2023

1

At 30 September 2022

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Tripza Limited

England & Wales

Ordinary shares

100%

100%

 

7

Debtors

30 September
2023
£

30 September
2022
£

Other debtors

32,372

2,444

 

Intelligent Index Marketing Limited

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

 

8

Creditors

Note

30 September
2023
£

30 September
2022
£

Due within one year

 

Loans and borrowings

9

24,980

25,180

Amounts due to related parties

 

-

30,000

Outstanding defined contribution pension costs

 

613

896

Accrued expenses

 

5,683

6,483

Corporation tax liability

-

49

 

31,276

62,608

30 September
2023
£

30 September
2022
£

Due after one year

Amounts due to related parties

270,000

240,000

 

9

Loans and borrowings

30 September
2023
£

30 September
2022
£

Current loans and borrowings

Other borrowings

24,980

25,180

 

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.000001 each

1,222,222

1.22

1,222,222

1.22

         

New shares allotted
On the 23rd March 2022 the company issued 111,111 Ordinary £0.000001 shares for aggregate consideration of £199.999.80. A further 111,111 Ordinary £0.000001 shares were issued on 19th May 2022 for aggregate consideration £199,999.80.

 

11

Related party transactions

Other transactions with directors
At the balance sheet date the company owed the director of the company £24,980 (2022 - £25,180). There are no fixed repayment terms and no interest is charged on the outstanding balance.