Silverfin false false 31/03/2024 01/04/2023 31/03/2024 N Drew 01/09/2006 M Janson 19/07/2011 M Oxley 23/05/2022 R Shinde 22/03/2017 S Tye 26/01/2006 14 November 2024 The principal activity of the Company during the financial year was development of computer software, distribution and training. 05497088 2024-03-31 05497088 bus:Director1 2024-03-31 05497088 bus:Director2 2024-03-31 05497088 bus:Director3 2024-03-31 05497088 bus:Director4 2024-03-31 05497088 bus:Director5 2024-03-31 05497088 2023-03-31 05497088 core:CurrentFinancialInstruments 2024-03-31 05497088 core:CurrentFinancialInstruments 2023-03-31 05497088 core:ShareCapital 2024-03-31 05497088 core:ShareCapital 2023-03-31 05497088 core:SharePremium 2024-03-31 05497088 core:SharePremium 2023-03-31 05497088 core:CapitalRedemptionReserve 2024-03-31 05497088 core:CapitalRedemptionReserve 2023-03-31 05497088 core:RetainedEarningsAccumulatedLosses 2024-03-31 05497088 core:RetainedEarningsAccumulatedLosses 2023-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 05497088 core:OtherResidualIntangibleAssets 2023-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-03-31 05497088 core:OtherResidualIntangibleAssets 2024-03-31 05497088 core:LeaseholdImprovements 2023-03-31 05497088 core:OfficeEquipment 2023-03-31 05497088 core:LeaseholdImprovements 2024-03-31 05497088 core:OfficeEquipment 2024-03-31 05497088 bus:OrdinaryShareClass1 2024-03-31 05497088 bus:OrdinaryShareClass2 2024-03-31 05497088 bus:OrdinaryShareClass3 2024-03-31 05497088 2023-04-01 2024-03-31 05497088 bus:FilletedAccounts 2023-04-01 2024-03-31 05497088 bus:SmallEntities 2023-04-01 2024-03-31 05497088 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05497088 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05497088 bus:Director1 2023-04-01 2024-03-31 05497088 bus:Director2 2023-04-01 2024-03-31 05497088 bus:Director3 2023-04-01 2024-03-31 05497088 bus:Director4 2023-04-01 2024-03-31 05497088 bus:Director5 2023-04-01 2024-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:BottomRangeValue 2023-04-01 2024-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-04-01 2024-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-04-01 2024-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-04-01 2024-03-31 05497088 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 05497088 core:OfficeEquipment core:BottomRangeValue 2023-04-01 2024-03-31 05497088 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 05497088 2022-04-01 2023-03-31 05497088 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 05497088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 05497088 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 05497088 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 05497088 core:LeaseholdImprovements 2023-04-01 2024-03-31 05497088 core:OfficeEquipment 2023-04-01 2024-03-31 05497088 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05497088 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05497088 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 05497088 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 05497088 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 05497088 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 05497088 1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05497088 (England and Wales)

IMAGE ANALYSER LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

IMAGE ANALYSER LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

IMAGE ANALYSER LIMITED

BALANCE SHEET

As at 31 March 2024
IMAGE ANALYSER LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Intangible assets 4 757,938 904,960
Tangible assets 5 105,650 85,082
863,588 990,042
Current assets
Debtors 6 246,283 216,207
Cash at bank and in hand 1,138,736 679,510
1,385,019 895,717
Creditors: amounts falling due within one year 7 ( 1,260,926) ( 441,603)
Net current assets 124,093 454,114
Total assets less current liabilities 987,681 1,444,156
Net assets 987,681 1,444,156
Capital and reserves
Called-up share capital 8 8,300 10,000
Share premium account 230,279 230,279
Capital redemption reserve ( 450,300 ) 0
Profit and loss account 1,199,402 1,203,877
Total shareholders' funds 987,681 1,444,156

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Image Analyser Limited (registered number: 05497088) were approved and authorised for issue by the Board of Directors on 14 November 2024. They were signed on its behalf by:

S Tye
Director
M Oxley
Director
IMAGE ANALYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
IMAGE ANALYSER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Image Analyser Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

The prior year adjustment relates to the reclassification of dividends as wages and salaries. This has also resulted in a reduction in corporation tax which is reflected in the 2023 comparatives.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 - 10 years straight line
Trademarks, patents and licences 10 years straight line
Website costs 5 years straight line
Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Office equipment 2 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 31 March 2023 £ £ £
Dividends 215,265 (40,000) 175,265
Wages and salaries 5,833 40,000 45,833
Tax on profit (95,836) 7,600 (88,236)
Creditors: amounts falling due within one year (449,203) 7,600 (441,603)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 6

4. Intangible assets

Development costs Trademarks, patents
and licences
Website costs Other intangible assets Total
£ £ £ £ £
Cost
At 01 April 2023 2,342,577 316,101 9,830 85,219 2,753,727
Additions 0 23,290 2,382 0 25,672
At 31 March 2024 2,342,577 339,391 12,212 85,219 2,779,399
Accumulated amortisation
At 01 April 2023 1,637,168 118,516 7,864 85,219 1,848,767
Charge for the financial year 141,304 29,146 2,244 0 172,694
At 31 March 2024 1,778,472 147,662 10,108 85,219 2,021,461
Net book value
At 31 March 2024 564,105 191,729 2,104 0 757,938
At 31 March 2023 705,409 197,585 1,966 0 904,960

5. Tangible assets

Leasehold improve-
ments
Office equipment Total
£ £ £
Cost
At 01 April 2023 70,826 61,041 131,867
Additions 17,778 13,871 31,649
Disposals 0 ( 670) ( 670)
At 31 March 2024 88,604 74,242 162,846
Accumulated depreciation
At 01 April 2023 0 46,785 46,785
Charge for the financial year 0 11,081 11,081
Disposals 0 ( 670) ( 670)
At 31 March 2024 0 57,196 57,196
Net book value
At 31 March 2024 88,604 17,046 105,650
At 31 March 2023 70,826 14,256 85,082

6. Debtors

2024 2023
£ £
Trade debtors 209,789 89,518
Other debtors 36,494 126,689
246,283 216,207

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 34,510 23,397
Taxation and social security 105,277 88,236
Other creditors 1,121,139 329,970
1,260,926 441,603

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
8,220 Ordinary shares of £ 1.00 each (2023: 9,900 shares of £ 1.00 each) 8,220 9,900
41 Ordinary "A" shares of £ 1.00 each (2023: 61 shares of £ 1.00 each) 41 61
39 Ordinary "B" shares of £ 1.00 each 39 39
8,300 10,000

9. Events after the Balance Sheet date

The Directors of Image Analyser have started legal proceedings against a former employee for potential misuse of company funds.

On this basis, the Board is aware that there may be material errors in the opening balance of retained earnings in the balance sheet and expenditure through the Profit and Loss statement and may require restatement following the resolution of such proceedings.