Company Registration No. 09347088 (England and Wales)
iSmash UK Trading Limited
Annual report and
group financial statements
for the year ended 31 December 2023
iSmash UK Trading Limited
Company information
Directors
Timothy Machin
(Appointed 22 March 2024)
Simon Harper
(Appointed 22 March 2024)
Lee Sturgeon
(Appointed 5 August 2024)
Company number
09347088
Registered office
Holborn Gate 330 High Holborn
Holborn
London
WC1V 7QH
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
iSmash UK Trading Limited
Contents
Page
Strategic report
1 - 2
Directors' report
3 - 5
Independent auditor's report
6 - 8
Income statement
9
Group statement of comprehensive income
10
Group statement of financial position
11
Company statement of financial position
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Company statement of cash flows
16
Notes to the financial statements
17 - 33
iSmash UK Trading Limited
Strategic report
For the year ended 31 December 2023
1

The directors present the strategic report for the year ended 31 December 2023.

Principal activities

The principal activity of the company is operating a network of retail stores that provide repair services for electronic devices and gadgets together with the sale of associated accessories and used electronic devices.

 

The company is part of Assurant, Inc.’s (AIZ) international business segment Global Lifestyle.

 

The company has no retail stores outside the United Kingdom.

Review of the business

 

Results and dividends

The loss after tax for the year ended 31 December 2023 was £4,214,273 (period ended 31 December 2022: loss of £5,764,709). No dividends were paid during the year. The directors are unable to recommend a dividend in respect of the year ended 31 December 2023.

 

Financial performance

The board of directors (the Board) monitors the financial performance/position of the company by reference to the following key performance indicators (KPIs):

 

 

From 2 Jan 2023 to 31 Dec 2023

 

From 3 Jan 2022 to 1 Jan 2023

 

£'000

 

£'000

Revenue

15,370

 

13,979

Gross Profit

8,191

 

7,098

 

 

 

 

 

 

 

 

iSmash is the market leader in the UK for smartphone repairs within Retail, operating from 38 locations across 15 major cities. Trading Performance continued to improve, delivering a £1,391k (10%) uplift in revenue year-on-year, whilst Gross Profit also reported an increase 15%, ending 2023 at £8,191k.

 

In 2023, the business continued to diversify its revenue mix through growth in Original Equipment Manufacturer (OEM) repairs, the strengthening of partnerships with insurance administrators and launching a Certified Pre-Owned (CPO) category. Consequently, iSmash has continued to report growth, with revenue and gross profit up 10% and 15% respectively year-on-year.

 

To support its long-term growth strategy, the business started a merger and acquisition process during 2023 which concluded in the sale of the business to Assurant, Inc (AIZ) in March 2024.

Principal Risks and Uncertainties

Principal risks to the company are credit and liquidity risk which are described in the Directors’ report. Further to those, risks are as follows:

 

Climate risk

During the year, the company continued to review risks arising from climate change, in terms of both physical risk and transition risk, climate risks are not considered to be significant risks.

iSmash UK Trading Limited
Strategic report (continued)
For the year ended 31 December 2023
2
Outlook

In March 2024, the company was acquired by Assurant Inc. a leading global provider of comprehensive risk management solutions for the auto, lifestyle, and housing protection sectors. In March 2024 there was a change of control, whereby Assurant Co., Ltd became the sole controlling entity of iSmash.

 

The acquisition will allow iSmash to develop is service channels and broaden its customer offering. The company intends to expand its network of repair stores in the UK.

On behalf of the board

Timothy Machin
Director
26 September 2024
iSmash UK Trading Limited
Directors' report
For the year ended 31 December 2023
3

The directors present their annual report and financial statements for the year ended 31 December 2023.

Results and dividends

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Julian Shovlin
(Resigned 22 March 2024)
Richard Walker
(Resigned 22 March 2024)
Fiona Hornsby
(Resigned 22 March 2024)
Elizabeth Wynn
(Resigned 31 August 2023)
Timothy Mcguire
(Resigned 22 March 2024)
Mario Mele
(Resigned 22 March 2024)
James Senko
(Resigned 22 March 2024)
Timothy Machin
(Appointed 22 March 2024)
Simon Harper
(Appointed 22 March 2024)
Lee Sturgeon
(Appointed 5 August 2024)
Financial instruments
Liquidity risk

The Group manages its cash flows in order to maximise interest income and minimise interest expense, whilst ensuring the Group has enough liquid resources to meet the operating needs of the business.

Interest rate risk

Whilst the Group does not have any debt apart from leases in the normal course of business, the Group will manage its cash and borrowings in the most effective way possible to minimise any actual or potential interest rate cost.

Credit risk

The Group has at present substantial cash surpluses, the use of which must be cleared by the Board but are held are held wholly and exclusively for the benefit of the Group's operating companies.

Price risk

This is continually evaluated by the Board and management of the Group's companies.

Auditor

In accordance with the company's articles, a resolution proposing that Saffery LLP be reappointed as auditor of the group will be put at a General Meeting.

iSmash UK Trading Limited
Directors' report (continued)
For the year ended 31 December 2023
4
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

 

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Matters covered in the Strategic report

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial risk management and future outlook.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Going concern

The directors consider it appropriate to adopt the going concern basis of accounting when preparing these financial statements. In making this assessment, the directors have taken into consideration the financial position and performance of the company, its principal risks and the financial support that is provided by group undertakings.

The outlook of the business remains positive, although the company is forecasting that in the short to medium term operating losses will continue to be reported. Additional funds will be required from the company shareholders over the following 12 months, to support the business to meet its business plan objectives. Further details regarding the directors’ assessment is included in note 1.3 on page 18.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

iSmash UK Trading Limited
Directors' report (continued)
For the year ended 31 December 2023
5
On behalf of the board
Timothy Machin
Director
26 September 2024
iSmash UK Trading Limited
Independent auditor's report
To the members of iSmash UK Trading Limited
6
Opinion

We have audited the financial statements of iSmash UK Trading Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

iSmash UK Trading Limited
Independent auditor's report (continued)
To the members of iSmash UK Trading Limited
7
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

 

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent company by discussions with directors and by updating our understanding of the sector in which the group and parent company operates.

 

Laws and regulations of direct significance in the context of the group and parent company include The Companies Act 2006 and UK Tax legislation.

 

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of group and parent company financial statement disclosures. We reviewed the parent company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

iSmash UK Trading Limited
Independent auditor's report (continued)
To the members of iSmash UK Trading Limited
8

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

As group auditors, our assessment of matters relating to non-compliance with laws or regulations and fraud differed at group and component level according to their particular circumstances. Our communications included a request to identify instances of non-compliance with laws and regulations and fraud that could give rise to a material misstatement of the group financial statements in addition to our risk assessment.

 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company's members as a body, for our audit work, for this report, or for the opinions we have formed.

 

Lucy Brennan (Senior Statutory Auditor)
For and on behalf of Saffery LLP
26 September 2024
Statutory Auditors
71 Queen Victoria Street
London
EC4V 4BE
iSmash UK Trading Limited
Group income statement
For the year ended 31 December 2023
9
2023
2022
Notes
£
£
Turnover
3
15,370,002
13,979,016
Cost of sales
(7,179,154)
(6,880,572)
Gross profit
8,190,848
7,098,444
Administrative expenses
(11,795,253)
(12,922,429)
Operating loss
4
(3,604,405)
(5,823,985)
Interest receivable and similar income
8
5,180
-
0
Interest payable and similar expenses
9
(615,048)
(57,500)
Loss before taxation
(4,214,273)
(5,881,485)
Tax on loss
10
-
0
116,776
Loss for the financial year
(4,214,273)
(5,764,709)
Loss for the financial year is all attributable to the owner of the parent company.
iSmash UK Trading Limited
Group statement of comprehensive income
For the year ended 31 December 2023
10
2023
2022
£
£
Loss for the year
(4,214,273)
(5,764,709)
Other comprehensive income
-
-
Total comprehensive income for the year
(4,214,273)
(5,764,709)
Total comprehensive income for the year is all attributable to the owners of the parent company.
iSmash UK Trading Limited
Group statement of financial position
As at 31 December 2023
11
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
12
234,338
254,329
Tangible assets
13
1,563,751
2,615,123
1,798,089
2,869,452
Current assets
Stocks
17
1,363,207
1,653,318
Debtors
18
3,093,475
3,589,303
Cash at bank and in hand
842,832
1,070,479
5,299,514
6,313,100
Creditors: amounts falling due within one year
19
(30,369,795)
(28,183,624)
Net current liabilities
(25,070,281)
(21,870,524)
Total assets less current liabilities
(23,272,192)
(19,001,072)
Creditors: amounts falling due after more than one year
20
(235,948)
(292,795)
Net liabilities
(23,508,140)
(19,293,867)
Capital and reserves
Called up share capital
23
1,072,509
1,072,509
Profit and loss reserves
(24,580,649)
(20,366,376)
Total equity
(23,508,140)
(19,293,867)

Ismash Limited, Ismash Canary Wharf Limited and Ismash Ken High Limited are exempt from audit for the financial period ended 31 December 2023 pursuant to section 479A of the Companies Act 2006.

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
26 September 2024
Timothy Machin
Director
Company Registration No. 09347088 (England and Wales)
iSmash UK Trading Limited
Company statement of financial position
As at 31 December 2023
31 December 2023
12
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
12
234,338
254,329
Tangible assets
13
1,561,890
2,581,886
Investments
14
61,656
61,656
1,857,884
2,897,871
Current assets
Stocks
17
1,363,207
1,653,318
Debtors
18
3,155,338
3,673,182
Cash at bank and in hand
842,711
1,070,479
5,361,256
6,396,979
Creditors: amounts falling due within one year
19
(30,583,808)
(28,388,398)
Net current liabilities
(25,222,552)
(21,991,419)
Total assets less current liabilities
(23,364,668)
(19,093,548)
Creditors: amounts falling due after more than one year
20
(235,948)
(292,795)
Net liabilities
(23,600,616)
(19,386,343)
Capital and reserves
Called up share capital
23
1,072,509
1,072,509
Profit and loss reserves
(24,673,125)
(20,458,852)
Total equity
(23,600,616)
(19,386,343)

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £4,214,273 (2022 - £5,764,709 loss).

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

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
26 September 2024
Timothy Machin
Director
Company registration number 09347088 (England and Wales)
iSmash UK Trading Limited
Group statement of changes in equity
For the year ended 31 December 2023
13
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
1,072,509
(14,601,667)
(13,529,158)
Year ended 31 December 2022:
Loss and total comprehensive income
-
(5,764,709)
(5,764,709)
Balance at 31 December 2022
1,072,509
(20,366,376)
(19,293,867)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(4,214,273)
(4,214,273)
Balance at 31 December 2023
1,072,509
(24,580,649)
(23,508,140)
iSmash UK Trading Limited
Company statement of changes in equity
For the year ended 31 December 2023
14
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
1,072,509
(14,694,143)
(13,621,634)
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(5,764,709)
(5,764,709)
Balance at 31 December 2022
1,072,509
(20,458,852)
(19,386,343)
Year ended 31 December 2023:
Profit and total comprehensive income
-
(4,214,273)
(4,214,273)
Balance at 31 December 2023
1,072,509
(24,673,125)
(23,600,616)
iSmash UK Trading Limited
Group statement of cash flows
For the year ended 31 December 2023
15
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
28
(1,941,555)
(4,801,738)
Interest paid
(108,875)
(57,500)
Income taxes refunded
-
0
116,776
Net cash outflow from operating activities
(2,050,430)
(4,742,462)
Investing activities
Purchase of intangible assets
(51,129)
(111,762)
Purchase of tangible fixed assets
(85,027)
(764,468)
Loss on disposal of tangible fixed assets
-
(58,620)
Interest received
5,180
-
0
Net cash used in investing activities
(130,976)
(934,850)
Financing activities
Intercompany financing received
1,953,984
1,958,215
Net cash generated from financing activities
1,953,984
1,958,215
Net decrease in cash and cash equivalents
(227,422)
(3,719,097)
Cash and cash equivalents at beginning of year
1,070,254
4,789,351
Cash and cash equivalents at end of year
842,832
1,070,254
Relating to:
Cash at bank and in hand
842,832
1,070,479
Bank overdrafts included in creditors payable within one year
-
(225)
iSmash UK Trading Limited
Company statement of cash flows
For the year ended 31 December 2023
16
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
29
(1,941,901)
(4,801,419)
Interest paid
(108,875)
(57,500)
Income taxes refunded
-
0
116,776
Net cash outflow from operating activities
(2,050,776)
(4,742,143)
Investing activities
Purchase of intangible assets
(51,129)
(111,762)
Purchase of tangible fixed assets
(85,027)
(764,468)
Loss on disposal of tangible fixed assets
-
0
(58,620)
Interest received
5,180
-
0
Net cash used in investing activities
(130,976)
(934,850)
Financing activities
Purchase of derivatives
1,953,984
1,958,215
Net cash generated from financing activities
1,953,984
1,958,215
Net decrease in cash and cash equivalents
(227,768)
(3,718,778)
Cash and cash equivalents at beginning of year
1,070,479
4,789,257
Cash and cash equivalents at end of year
842,711
1,070,479
iSmash UK Trading Limited
Notes to the financial statements
For the year ended 31 December 2023
17
1
Accounting policies
Company information

iSmash UK Trading Limited (“the company”) is a private company, limited by shares, incorporated in England and Wales. The registered office is Holborn Gate 330 High Holborn, Holborn, London, WC1 7QH. The company's registered number can be found on the Company Information page.

 

The group consists of iSmash UK Trading Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The group follows a 4-4-5 accounting calendar, as such the financial statements are prepared from 2 January 2023 to 31 December 2023.

1.2
Basis of consolidation

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

The consolidated group financial statements consist of the financial statements of the parent company iSmash UK Trading Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 December 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
18
1.3
Going concern

The directors acknowledge the company is in a net liability position due to investment in the company's growth to date. As described in the directors' report on page 6 the group has the support of the ultimate parent company and the director's have an expectation that further funds will be available in order to continue the groups growth plans. The company has obtained a letter of support from the ultimate parent company, confirming that it will continue to provide, or arrange to provide, resources to enable them to continue that financial support for a period of at least 12 months from date of signing of these financial statements. As a result, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

 

Intangible assets are recognised from development costs 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.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
3 or 10 years straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10 years straight line
Fixtures and fittings
3 or 5 years straight line
Computers
3 years straight line
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
19

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the income statement. Reversals of impairment losses are also recognised in the income statement.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
20
1.10
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Classification of financial liabilities

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
21
1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
22
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock valuation

Stock is carried at the lower of cost and net realisable value. Realisable value includes, where necessary, provisions for slow moving and obsolete stock. The calculation of these provisions require judgements to be made, which include using the ageing profile of the stock on hand, historical sales patterns, post year end trading patterns and forecast consumer demand.

At the year end there was a closing provision against stock of £137,046 (2022: £361,388).

3
Turnover and other revenue
2023
2022
£
£
Other revenue
Interest income
5,180
-
4
Operating loss
2023
2022
£
£
Operating loss for the year is stated after charging/(crediting):
Exchange gains
-
(294)
Depreciation of owned tangible fixed assets
505,137
555,092
Impairment of owned tangible fixed assets
579,598
-
Loss on disposal of tangible fixed assets
51,664
23,932
Amortisation of intangible assets
71,120
53,565
Operating lease charges
2,012,834
1,968,814
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
49,935
62,150
Audit of the financial statements of the company's subsidiaries
2,280
2,350
52,215
64,500
For other services
Taxation compliance services
-
9,350
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
23
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Retail
126
115
126
115
Non-Retail
41
52
41
52
Other
1
4
1
4
Total
168
171
168
171

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
5,009,644
4,909,585
5,009,644
4,909,585
Social security costs
470,134
481,044
470,134
481,044
Pension costs
86,000
75,704
86,000
75,704
5,565,778
5,466,333
5,565,778
5,466,333
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
-
179,000
8
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
5,180
-
0
2023
2022
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
5,180
-
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
24
9
Interest payable and similar expenses
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
108,875
57,500
Interest on convertible loan notes
506,173
-
0
615,048
57,500
10
Taxation
2023
2022
£
£
Current tax
Other tax reliefs
-
0
(116,776)

The actual charge/(credit) for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Loss before taxation
(4,214,273)
(5,881,485)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2022: 25.00%)
(1,053,568)
(1,470,371)
Unutilised tax losses carried forward
1,053,568
1,353,595
Taxation charge/(credit)
-
(116,776)
11
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2023
2022
Notes
£
£
In respect of:
Property, plant and equipment
13
579,598
-
Recognised in:
Administrative expenses
579,598
-

The impairment losses in respect of financial assets are recognised in other gains and losses in the income statement.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
25
12
Intangible fixed assets
Group
Website
£
Cost
At 1 January 2023
432,851
Additions
51,129
At 31 December 2023
483,980
Amortisation and impairment
At 1 January 2023
178,522
Amortisation charged for the year
71,120
At 31 December 2023
249,642
Carrying amount
At 31 December 2023
234,338
At 31 December 2022
254,329
Company
Website
£
Cost
At 1 January 2023
432,851
Additions
51,129
At 31 December 2023
483,980
Amortisation and impairment
At 1 January 2023
178,522
Amortisation charged for the year
71,120
At 31 December 2023
249,642
Carrying amount
At 31 December 2023
234,338
At 31 December 2022
254,329
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
26
13
Tangible fixed assets
Group
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
4,378,296
999,923
361,596
5,739,815
Additions
16,276
31,805
36,946
85,027
Disposals
(353,242)
(364)
(34,317)
(387,923)
At 31 December 2023
4,041,330
1,031,364
364,225
5,436,919
Depreciation and impairment
At 1 January 2023
2,230,932
722,963
170,797
3,124,692
Depreciation charged in the year
374,004
77,467
53,666
505,137
Impairment losses
579,598
-
0
-
0
579,598
Eliminated in respect of disposals
(332,564)
(221)
(3,474)
(336,259)
At 31 December 2023
2,851,970
800,209
220,989
3,873,168
Carrying amount
At 31 December 2023
1,189,360
231,155
143,236
1,563,751
At 31 December 2022
2,147,364
276,960
190,799
2,615,123
Company
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
4,039,154
999,923
361,596
5,400,673
Additions
16,276
31,805
36,946
85,027
Disposals
(51,231)
(364)
(34,317)
(85,912)
At 31 December 2023
4,004,199
1,031,364
364,225
5,399,788
Depreciation and impairment
At 1 January 2023
1,925,027
722,963
170,797
2,818,787
Depreciation charged in the year
342,628
77,467
53,666
473,761
Impairment losses
579,598
-
0
-
0
579,598
Eliminated in respect of disposals
(30,553)
(221)
(3,474)
(34,248)
At 31 December 2023
2,816,700
800,209
220,989
3,837,898
Carrying amount
At 31 December 2023
1,187,499
231,155
143,236
1,561,890
At 31 December 2022
2,114,127
276,960
190,799
2,581,886

More information on impairment movements in the year is given in note 11.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
27
14
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
61,656
61,656
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023 and 31 December 2023
61,656
Carrying amount
At 31 December 2023
61,656
At 31 December 2022
61,656
15
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
iSmash Canary Wharf Limited
United Kingdom
Ordinary
100.00
iSmash Ken High Limited
United Kingdom
Ordinary
100.00
iSmash Limited
United Kingdom
Ordinary
100.00

The registered office addresses of all the subsidiaries is Holborn Gate 330 High Holborn, Holborn, London, United Kingdom, WC1V 7QH.

For the year ending 31 December 2023, the following subsidiaries were entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies:

 

iSmash Canary Wharf Limited - Company no. 08692960

iSmash Ken High Limited - Company no. 08936095

iSmash Limited - Company no. 08489776

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
28
16
Financial instruments
Group
Company
2023
2022
2023
2022
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
1,398,103
1,666,709
1,459,966
1,750,588
Carrying amount of financial liabilities
Measured at amortised cost
29,793,433
27,713,920
30,007,446
27,918,694
17
Stocks
Group
Company
2023
2022
2023
2022
£
£
£
£
Finished goods and goods for resale
1,363,207
1,653,318
1,363,207
1,653,318
18
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade debtors
529,285
685,039
529,285
685,039
Amounts owed by group undertakings
-
-
90,436
206,991
Other debtors
868,818
981,670
840,245
858,558
Prepayments and accrued income
1,695,372
1,922,594
1,695,372
1,922,594
3,093,475
3,589,303
3,155,338
3,673,182

 

19
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Bank loans and overdrafts
-
0
225
-
0
-
0
Trade creditors
871,753
1,095,462
871,753
1,095,462
Amounts owed to group undertakings
27,845,562
25,442,905
28,075,028
25,663,357
Other taxation and social security
812,310
762,499
812,310
762,499
Other creditors
25,054
27,587
25,056
27,589
Accruals and deferred income
815,116
854,946
799,661
839,491
30,369,795
28,183,624
30,583,808
28,388,398
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
19
Creditors: amounts falling due within one year (continued)
29

The above amounts due to group undertakings is in respect of a loan from the parent company being iSmash Group Ltd. Interest is recharged to reflect the financing arrangements in iSmash Group Limited.

 

Barclays Bank PLC has a fixed and floating charge over the property and assets of iSmash UK Trading Ltd.

20
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Other creditors
235,948
292,795
235,948
292,795
21
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
86,000
75,704

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share-based payment transactions

 

The parent company had a share based option scheme for certain employees employed by iSmash UK Trading Limited.

 

The parent company put in place a new share option scheme for four key managers employed by iSmash UK trading in May 2022, granting 748 options in total. The vesting period is four years and the options can be exercised on an exit or on the ninth anniversary of the grant date.

 

The fair value of the share options at the grant date was calculated using recent share transactions as an estimate of fair value. As a result of this calculation management have not recognised a share-based payment expense.

 

During the year ended 31 December 2023, no options were granted, forfeited or exercised, nor did any options expire. No shares were exercisable at the end of the period.

 

The share option scheme was closed after the year end on 22 March 2024, management were not compensated.

 

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
30
23
Share capital
Group and company
2023
2022
Ordinary share capital
£
£
Issued and fully paid
1,072,398 Ordinary A shares of £1 each
1,072,398
1,072,398
11,058 Ordinary B shares of 1p each
111
111
1,072,509
1,072,509

The company has two classes of ordinary shares, Ordinary A shares and Ordinary B shares. On a return of capital on liquidation or otherwise, the surplus assets of the company after payments of its liabilities will accrue first to the A Ordinary Shareholders and is subject to a hurdle.

 

The A Ordinary shares have voting and income rights. The B Ordinary shares do not have voting or income rights.

 

The rights attaching to the B Ordinary shares may be varied or abrogated by an ordinary resolution of the Company.

24
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
1,986,274
2,045,950
1,585,964
1,782,046
Between two and five years
4,928,961
6,103,426
3,581,316
4,912,453
In over five years
1,268,804
1,634,125
634,402
889,229
7,804,464
9,783,501
5,801,682
7,583,728
25
Events after the reporting date

In March 2024, there was a change in ownership, all outstanding intercompany loans to the parent iSmash Group Limited were repaid on this date.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
31
26
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023
2022
£
£
Aggregate compensation
388,089
372,904
Transactions with related parties
Other information

The directors, CEO and Finance director are considered to be key management personnel.

 

The company has taken advantage of the exemption in FRS102 from the requirement to disclose transactions with wholly owned subsidiaries in the group.

 

During the year to 31 December 2023, the company made purchases of £1,238,566 (2022: £nil) respectively from its minority shareholders. The related balances payable at the year end were £nil.

 

The company also incurred advertising costs of £171,426 (2022: £2,029,024) relating to the activities and spend carried out by Sky UK Limited on their behalf. At the year end, there is a prepayment in debtors of £1,128,574 (2022: £1,300,000) that relates to prepaid advertising costs with Sky as part of the issue of iSmash Group Limited shares to Sky. Sky is a shareholder in UK Trading's parent, iSmash Group Limited, which wholly owned iSmash UK Trading Limited at the year end and until 22 March 2024.

 

27
Controlling party

At 31 December 2023, the parent company of iSmash UK Trading Ltd was iSmash Group Ltd and its registered office is Geneva Place, Waterfront Drive, P.O Box 3469, Road Town, Tortola, British Virgin Islands. There was no ultimate controlling party.

 

In March 2024, the company was acquired by Assurant Inc. a leading global provider of comprehensive risk management solutions for the auto, lifestyle, and housing protection sectors. In March 2024 there was a change of control, whereby Assurant Co., Ltd became the sole controlling entity of iSmash.

iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
32
28
Cash absorbed by group operations
2023
2022
£
£
Loss for the year after tax
(4,214,273)
(5,764,709)
Adjustments for:
Taxation charged/(credited)
-
0
(116,776)
Finance costs
615,048
57,500
Investment income
(5,180)
-
0
Loss on disposal of tangible fixed assets
51,664
23,932
Amortisation and impairment of intangible assets
71,120
53,565
Depreciation and impairment of tangible fixed assets
1,084,735
555,092
Movements in working capital:
Decrease/(increase) in stocks
290,111
(19,593)
Decrease in debtors
495,828
1,286,288
Decrease in creditors
(330,608)
(877,037)
Cash absorbed by operations
(1,941,555)
(4,801,738)
29
Cash absorbed by operations - company
2023
2022
£
£
Loss for the year after tax
(4,214,273)
(5,764,709)
Adjustments for:
Taxation charged/(credited)
-
0
(116,776)
Finance costs
615,048
57,500
Investment income
(5,180)
-
0
Loss on disposal of tangible fixed assets
51,664
23,932
Amortisation and impairment of intangible assets
71,120
53,565
Depreciation and impairment of tangible fixed assets
1,053,359
520,717
Movements in working capital:
Decrease/(increase) in stocks
290,111
(19,593)
Decrease in debtors
517,844
1,312,432
Decrease in creditors
(321,594)
(868,487)
Cash absorbed by operations
(1,941,901)
(4,801,419)
iSmash UK Trading Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
33
30
Analysis of changes in net funds - group
1 January 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
1,070,479
(227,647)
842,832
Bank overdrafts
(225)
225
-
0
1,070,254
(227,422)
842,832
31
Analysis of changes in net funds - company
1 January 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
1,070,479
(227,768)
842,711
2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2023.300Julian ShovlinRichard WalkerFiona HornsbyElizabeth WynnTimothy McguireMario MeleJames SenkoTimothy MachinSimon HarperSimon HarperLee 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