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Registered number: 09615607










NOETIC MARKETING TECHNOLOGIES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
NOETIC MARKETING TECHNOLOGIES LIMITED
REGISTERED NUMBER: 09615607

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
20,000
-

  
20,000
-

Current assets
  

Debtors: amounts falling due after more than one year
 5 
83,701
-

Debtors: amounts falling due within one year
 5 
512
3,770

Cash at bank and in hand
 6 
520
70,403

  
84,733
74,173

Creditors: amounts falling due within one year
 7 
(14,400)
(82,055)

Net current assets/(liabilities)
  
 
 
70,333
 
 
(7,882)

Total assets less current liabilities
  
90,333
(7,882)

Creditors: amounts falling due after more than one year
 8 
(1,469,511)
(1,123,821)

  

Net liabilities
  
(1,379,178)
(1,131,703)


Capital and reserves
  

Called up share capital 
  
104
104

Profit and loss account
  
(1,379,282)
(1,131,807)

  
(1,379,178)
(1,131,703)


Page 1

 
NOETIC MARKETING TECHNOLOGIES LIMITED
REGISTERED NUMBER: 09615607
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2024.




Mark Lerohl
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NOETIC MARKETING TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Noetic Marketing Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 48 Chancery Lane, London, United Kingdom, WC2A 1JF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Kognitiv Corporation, the Canada based ultimate parent entity, has committed to provide ongoing support to allow the company to meet its liabilities as they fall due for a period of not less than 12 months from the date these accounts are signed, for so long as Noetic Marketing Technologies Limited remains a wholly owned subsidiary of Kognitiv Corporation. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
NOETIC MARKETING TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 
NOETIC MARKETING TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
20,000



At 30 April 2024
20,000




Page 5

 
NOETIC MARKETING TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
83,701
-

83,701
-


2024
2023
£
£

Due within one year

Prepayments and accrued income
512
3,770

512
3,770


All intercompany debt owing to Noetic Marketing Technologies Limited is ultimately guaranteed by the parent company, Kognitiv Corporation.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
520
70,403

520
70,403



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
71,162

Accruals and deferred income
14,400
10,893

14,400
82,055


Page 6

 
NOETIC MARKETING TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
1,469,511
1,123,821

1,469,511
1,123,821


All intercompany debt owing to group companies is ultimately guaranteed by the parent company, Kognitiv Corporation.


9.


Related party transactions

The Group has taken the exemption available to not disclose transactions within the year, between wholly owned subsidiaries.


10.


Controlling party

The ultimate controlling party is Kognitiv Corporation.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 11 October 2024 by Ian Palmer FCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 7