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REGISTERED NUMBER: 10564694 (England and Wales)










Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 December 2023

for

I-Docs Enterprise Software Limited

I-Docs Enterprise Software Limited (Registered number: 10564694)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Profit or Loss 8

Statement of Profit or Loss and Other Comprehensive
Income

9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14


I-Docs Enterprise Software Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S Asimiadis





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 10564694 (England and Wales)





AUDITORS: LB Group Limited (Chelmsford)
Chartered Accountants
Statutory Auditor
75 Springfield Road
Chelmsford
Essex
CM2 6JB

I-Docs Enterprise Software Limited (Registered number: 10564694)

Strategic Report
for the Year Ended 31 December 2023

The director presents his strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company's core operations consist of providing electronic IT services and trading software licenses.
In the year 2023, trading conditions normalized, and the impact of the post-EEC exit has diminished.
As reported to the profit and loss account, the company's revenues increased to £693k from £260k in 2022. The inventory value decreased from £177k to £97k in 2023.
However, attributed to the sale of former technology licenses and intense market competition, underlying net profits for the period declined to £92k from £198k in 2022.
Following a group restructuring, an inter-group loan of £209K was waived.. The company concluded the year with net assets totalling £611,042, compared to £309,497 in 2022.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risk to the business is the potential for adverse changes in economic conditions that can negatively impact on the company's ability to achieve its financial goals.
The company actively monitors its working capital to ensure there are sufficient available funds for operations.
Due to the global nature of its activities, the foreign currency exchange rates remain an area of risk.

.

KEY PERFORMANCE INDICATORS
The Directors and management use a variety of KPI's to monitor performance. The Company's main KPI's are as summarised as follows:

2023 2022
Turnover £ 693,189 260,051
Gross Profit Margin % 26.19 77.2%
Gross Profit £ 181,598 200,870
Net Profit Before Tax and Dividends £ 302,545 197,936
Number of Employees Nil Nil







GOING CONCERN
The company's activities, together with the factors likely to affect its future development, performance and profitability are set out in the Business Review above.
The financial position of the company, its cash flow, liquidity position and borrowing capacity have all been assessed. The Directors believe that despite the uncertain economic outlook the company is well placed to manage its business risks.

ON BEHALF OF THE BOARD:





S Asimiadis - Director


18 September 2024

I-Docs Enterprise Software Limited (Registered number: 10564694)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
S Asimiadis held office during the whole of the period from 1 January 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with UK-adopted international accounting standards. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





S Asimiadis - Director


18 September 2024

Report of the Independent Auditors to the Members of
I-Docs Enterprise Software Limited

Opinion
We have audited the financial statements of I-Docs Enterprise Software Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Profit or Loss, the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the UK.

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with IFRSs as adopted by the UK; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors 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.

In connection with our audit of the financial statements, 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 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:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
I-Docs Enterprise Software Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
I-Docs Enterprise Software Limited


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We reviewed the industry in which the company operates and gained an understanding of the appropriate legal and regulatory framework. We considered the risk of any acts by the company that were contrary to these laws, including fraud, by designing and performing our audit procedures appropriately, discussing with the company and obtaining sufficient evidence to form our opinion. The risk of not detecting a material misstatement resulting from fraud is greater than the risk of not detecting one due to error, as fraud may involve collusion, forgery, or intentional misrepresentations.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

. the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
. through discussions with the directors and other management and from our commercial knowledge and experience of the brick distribution sector, we identified the laws and regulations applicable to the Company; and
. focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

We did not identify any key audit matters relating to irregularities, including fraud during the course of our audit. In accordance with our standard practice we also addressed the risk of management override of internal controls using our audit procedures and by evaluating the risk of material misstatement due to fraud from a bias by the directors.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
I-Docs Enterprise Software Limited


Use of our report
This report is made solely to the 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 company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Liam Sillett (Senior Statutory Auditor)
for and on behalf of LB Group Limited (Chelmsford)
Chartered Accountants
Statutory Auditor
75 Springfield Road
Chelmsford
Essex
CM2 6JB

15 October 2024

I-Docs Enterprise Software Limited (Registered number: 10564694)

Statement of Profit or Loss
for the Year Ended 31 December 2023

31.12.22 31.12.23
£    Notes £   

CONTINUING OPERATIONS
260,051 Revenue 693,189

(59,181 ) Cost of sales (511,591 )
200,870 GROSS PROFIT 181,598

15,027 Other operating income 235,744
(16,361 ) Administrative expenses (114,033 )
199,536 OPERATING PROFIT 303,309

(1,600 ) Finance costs 4 (1,764 )
197,936 PROFIT BEFORE INCOME TAX 5 301,545

- Income tax 6 -
197,936 PROFIT FOR THE YEAR 301,545

I-Docs Enterprise Software Limited (Registered number: 10564694)

Statement of Profit or Loss and Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.22 31.12.23
£    £   

197,936 PROFIT FOR THE YEAR 301,545

- OTHER COMPREHENSIVE INCOME -
197,936 TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

301,545

I-Docs Enterprise Software Limited (Registered number: 10564694)

Statement of Financial Position
31 December 2023

31.12.22 31.12.23
£    Notes £   
ASSETS
CURRENT ASSETS
177,080 Inventories 8 97,181
349,328 Trade and other receivables 9 1,242,728
95,445 Cash and cash equivalents 10 10,329
621,853 1,350,238
621,853 TOTAL ASSETS 1,350,238
EQUITY
SHAREHOLDERS' EQUITY
100 Called up share capital 11 100
309,397 Retained earnings 12 610,942
309,497 TOTAL EQUITY 611,042
LIABILITIES
CURRENT LIABILITIES
312,356 Trade and other payables 13 739,196
312,356 TOTAL LIABILITIES 739,196
621,853 TOTAL EQUITY AND LIABILITIES 1,350,238


The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





S Asimiadis - Director


I-Docs Enterprise Software Limited (Registered number: 10564694)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 111,461 111,561

Changes in equity
Total comprehensive income - 197,936 197,936
Balance at 31 December 2022 100 309,397 309,497

Changes in equity
Total comprehensive income - 301,545 301,545
Balance at 31 December 2023 100 610,942 611,042

I-Docs Enterprise Software Limited (Registered number: 10564694)

Statement of Cash Flows
for the Year Ended 31 December 2023

31.12.22 31.12.23
£    £   
Cash flows from operating activities
(111,614 ) Cash generated from operations 1 (83,352 )
(1,600 ) Interest paid (1,764 )
(113,214 ) Net cash from operating activities (85,116 )

(113,214 ) Decrease in cash and cash equivalents (85,116 )
208,659 Cash and cash equivalents at beginning of
year

2

95,445

95,445 Cash and cash equivalents at end of year 2 10,329

I-Docs Enterprise Software Limited (Registered number: 10564694)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE INCOME TAX TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit before income tax 301,545 197,936
Depreciation charges - 403
Intercompany (509,890 ) -
Finance costs 1,764 1,600
(206,581 ) 199,939
Decrease/(increase) in inventories 79,899 (177,080 )
Decrease/(increase) in trade and other receivables 48,113 (297,230 )
(Decrease)/increase in trade and other payables (4,783 ) 162,757
Cash generated from operations (83,352 ) (111,614 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 10,329 95,445
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 95,445 208,659

I-Docs Enterprise Software Limited (Registered number: 10564694)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

I-Docs Enterprise Software Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with UK-adopted international accounting standards and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

Cash and cash equivalents
Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value.

In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank overdrafts. Any such overdrafts are shown within borrowings under ‘current liabilities’ on the Statement of Financial Position.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 20% on cost

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the statement of financial position date.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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

31.12.23 31.12.22
£    £   
Director's remuneration - -

I-Docs Enterprise Software Limited (Registered number: 10564694)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. NET FINANCE COSTS
31.12.23 31.12.22
£    £   
Finance costs:
Fines 1,764 1,600

5. PROFIT BEFORE INCOME TAX

The profit before income tax is stated after charging/(crediting):
31.12.23 31.12.22
£    £   
Cost of inventories recognised as expense 511,591 59,181
Depreciation - owned assets - 403
Auditors' remuneration 6,200 5,500
Foreign exchange differences 28,426 (8,031 )

6. INCOME TAX

Analysis of tax expense
No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.

The Company has tax losses of approximately £119,894, (2022: £211,805) that are available to be utilised against future trading profits and/or total profits of the company subject to agreement with HM Revenue and Customs.

7. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 4,282
DEPRECIATION
At 1 January 2023
and 31 December 2023 4,282
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

8. INVENTORIES

31.12.23 31.12.22
£    £   
Work-in-progress 97,181 177,080

I-Docs Enterprise Software Limited (Registered number: 10564694)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. TRADE AND OTHER RECEIVABLES

31.12.23 31.12.22
£    £   
Current:
Trade debtors 8,105 58,775
Amounts owed by group undertakings 1,225,544 284,031
Other debtors 6,452 6,452
VAT 2,627 70
1,242,728 349,328

10. CASH AND CASH EQUIVALENTS

31.12.23 31.12.22
£    £   
Bank accounts 10,329 95,445

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 January 2023 309,397
Profit for the year 301,545
At 31 December 2023 610,942


13. TRADE AND OTHER PAYABLES

31.12.23 31.12.22
£    £   
Current:
Trade creditors 32 1,711
Amounts owed to group undertakings 731,668 300,045
Other creditors 7,496 10,600
739,196 312,356

14. EVENTS AFTER THE REPORTING PERIOD

There were no events after the reporting period that require reporting to the shareholders or creditors.

I-Docs Enterprise Software Limited (Registered number: 10564694)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. ULTIMATE CONTROLLING PARTY

The immediate parent company is S.I.C.C Holding Ltd. a company registered in Cyprus. The ultimate controlling party is Ideal Holdings SA, a company whose registered office is, Kreontos 25, 104 42, Athens, Greece.