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REGISTERED NUMBER: 12622815 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Integration Wizards Solutions Europe Ltd

Integration Wizards Solutions Europe Ltd (Registered number: 12622815)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Integration Wizards Solutions Europe Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: N A Kohler





SECRETARY: TMF Corporate Administration Services





REGISTERED OFFICE: C/O Tmf Group 13th Floor
One Angel Court
London
EC2R 7HJ





REGISTERED NUMBER: 12622815 (England and Wales)





ACCOUNTANTS: Millward, May & Co
The Overhangs
55a Peach Street
Wokingham
Berkshire
RG40 1XP

Integration Wizards Solutions Europe Ltd (Registered number: 12622815)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,976 18,128

CURRENT ASSETS
Debtors 5 17,330 38,393
Cash at bank 20,807 68,647
38,137 107,040
CREDITORS
Amounts falling due within one year 6 233,578 136,657
NET CURRENT LIABILITIES (195,441 ) (29,617 )
TOTAL ASSETS LESS CURRENT LIABILITIES (178,465 ) (11,489 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (178,466 ) (11,490 )
SHAREHOLDERS' FUNDS (178,465 ) (11,489 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 28 January 2025 and were signed by:





N A Kohler - Director


Integration Wizards Solutions Europe Ltd (Registered number: 12622815)

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

1. STATUTORY INFORMATION

Integration Wizards Solutions Europe 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Fixtures and fittings - 5 year straight line
Computer equipment - 3 year straight line

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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 statement of financial position date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Going concern
The financial statements have been prepared on a going concern basis. After making enquiries, the Directors have a reasonable expectation that the Company has adequate capital, liquidity and access to related party funding, to meet its current and long term obligations and to continue in operational existence for the foreseeable future. Specifically, the Company benefits from the support of its parent entity, and the Directors are satisfied that funds will be made available to the Company to enable it to meet its liabilities as they fall due. SparkCognition, Inc. will ensure adequate funding of Integration Wizards Solutions Europe Ltd.

Debtors
Trade and other debtors are recorded initially at transaction price and subsequently measured at cost less an allowance for any doubtful debts. The allowance for doubtful debts is recognised based on management's expectation of losses.

Creditors
Trade and other creditors are recognised at transaction price.

3. EMPLOYEES AND DIRECTORS

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

Integration Wizards Solutions Europe Ltd (Registered number: 12622815)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 466 25,763 26,229
Additions - 8,219 8,219
At 31 December 2023 466 33,982 34,448
DEPRECIATION
At 1 January 2023 128 7,973 8,101
Charge for year 93 9,278 9,371
At 31 December 2023 221 17,251 17,472
NET BOOK VALUE
At 31 December 2023 245 16,731 16,976
At 31 December 2022 338 17,790 18,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,437 29,224
Other debtors 15,893 9,169
17,330 38,393

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,142 3,672
Amounts owed to group undertakings 218,853 82,672
Other creditors 2,583 50,313
233,578 136,657

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £0.01 1 1

8. RELATED PARTY DISCLOSURES

During the period the company had transactions with three connected companies; SparkCognition Inc, AI MX2 (UK) Limited and Integration Wizards Solutions Private Limited. The companies are connected through the shareholdings.

The total transactions with the connected companies during the period were as follows:
Royalties due to AI MX2 (UK) Limited: £15,047 (2022- £51,924)

At the period end the company owed a balance of £10,890 (2022- £Nil) to SparkCognition Inc. At the period end the company owed a balance of £207,961 (2022- £30,748) to AI MX2 (UK) Limited. These balances are shown within other creditors.

At the period end the company was owed a balance of £Nil (2022- £4,375) from Integration Wizards Solutions Private Limited. This balance is shown within other debtors.