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REGISTERED NUMBER: 11065989 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ICERTIS GROUP LTD

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)






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


ICERTIS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: S Bodas
R Bahri
J M Dreikosen
P Kramer





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 11065989 (England and Wales)





Auditors: Mark Arber Limited
Statutory Auditors
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,073 38,318

CURRENT ASSETS
Debtors 5 1,488,775 592,880
Cash at bank 727,211 905,710
2,215,986 1,498,590
CREDITORS
Amounts falling due within one year 6 (1,395,640 ) (1,025,070 )
NET CURRENT ASSETS 820,346 473,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

859,419

511,838

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 859,319 511,738
SHAREHOLDERS' FUNDS 859,419 511,838

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 10 October 2024 and were signed on its behalf by:





J M Dreikosen - Director


ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Icertis Group Ltd 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 company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Going concern
These financial statements have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements.

Related party exemption
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.

Turnover
Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its esitmate useful life.

Computer equipment - 33% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost

Financial instruments
The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the balance Sheet when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to Income Statement 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 Income Statement in the period to which they relate.

Short-term debtors and creditors
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 of debtors are recognised in the Income Statement in administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits.

Share based payments
Where share based options are available to employees, the fair value of the options measured at the date of grant of the options using an appropriate model is charged to the Income Statement over the period of which options vest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 35 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2023 14,423 20,000 18,264 52,687
Additions - - 17,655 17,655
At 31 December 2023 14,423 20,000 35,919 70,342
Depreciation
At 1 January 2023 2,192 2,889 9,288 14,369
Charge for year 4,808 4,000 8,092 16,900
At 31 December 2023 7,000 6,889 17,380 31,269
Net book value
At 31 December 2023 7,423 13,111 18,539 39,073
At 31 December 2022 12,231 17,111 8,976 38,318

ICERTIS GROUP LTD (REGISTERED NUMBER: 11065989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed by group undertakings 1,008,528 427,498
Other debtors 480,247 165,382
1,488,775 592,880

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 17,892 61,361
Taxation and social security 690,971 388,420
Other creditors 686,777 575,289
1,395,640 1,025,070

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 274,321 271,740
Between one and five years 351,780 -
626,101 271,740

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

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

9. SHARE-BASED PAYMENT TRANSACTIONS

The Company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.

10. ULTIMATE PARENT COMPANY

The immediate and ultimate parent undertaking of the Company is Icertis, Inc., a Company incorporated in USA, with its principal place of business at 14711 NE 29th Place, Suite 225, Bellevue, WA 98007, USA.