Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Joseph Cusdin 12/08/2015 Keith Paul Greetham 04/11/2019 Mercia Fund Management (Nominees) Limited 29/07/2024 Dr Alexandra Georgina Redcliffe Reid 29/07/2024 04/11/2019 Steven Spark 10/06/2024 15/03/2023 13 February 2025 The principal activity of the Company during the financial year continued to be that of business and domestic software development. 09729119 2024-08-31 09729119 bus:Director1 2024-08-31 09729119 bus:Director2 2024-08-31 09729119 bus:Director3 2024-08-31 09729119 bus:Director4 2024-08-31 09729119 bus:Director5 2024-08-31 09729119 2023-08-31 09729119 core:CurrentFinancialInstruments 2024-08-31 09729119 core:CurrentFinancialInstruments 2023-08-31 09729119 core:Non-currentFinancialInstruments 2024-08-31 09729119 core:Non-currentFinancialInstruments 2023-08-31 09729119 core:ShareCapital 2024-08-31 09729119 core:ShareCapital 2023-08-31 09729119 core:SharePremium 2024-08-31 09729119 core:SharePremium 2023-08-31 09729119 core:RetainedEarningsAccumulatedLosses 2024-08-31 09729119 core:RetainedEarningsAccumulatedLosses 2023-08-31 09729119 2022-08-31 09729119 core:OfficeEquipment 2023-08-31 09729119 core:ComputerEquipment 2023-08-31 09729119 core:OfficeEquipment 2024-08-31 09729119 core:ComputerEquipment 2024-08-31 09729119 bus:OrdinaryShareClass1 2024-08-31 09729119 bus:OrdinaryShareClass2 2024-08-31 09729119 bus:OrdinaryShareClass3 2024-08-31 09729119 2023-09-01 2024-08-31 09729119 bus:FilletedAccounts 2023-09-01 2024-08-31 09729119 bus:SmallEntities 2023-09-01 2024-08-31 09729119 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09729119 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09729119 bus:Director1 2023-09-01 2024-08-31 09729119 bus:Director2 2023-09-01 2024-08-31 09729119 bus:Director3 2023-09-01 2024-08-31 09729119 bus:Director4 2023-09-01 2024-08-31 09729119 bus:Director5 2023-09-01 2024-08-31 09729119 core:OfficeEquipment core:TopRangeValue 2023-09-01 2024-08-31 09729119 core:ComputerEquipment 2023-09-01 2024-08-31 09729119 2022-09-01 2023-08-31 09729119 core:OfficeEquipment 2023-09-01 2024-08-31 09729119 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 09729119 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 09729119 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 09729119 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 09729119 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 09729119 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 09729119 bus:OrdinaryShareClass3 2023-09-01 2024-08-31 09729119 bus:OrdinaryShareClass3 2022-09-01 2023-08-31 09729119 1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09729119 (England and Wales)

IVENTIS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

IVENTIS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

IVENTIS LTD

BALANCE SHEET

AS AT 31 AUGUST 2024
IVENTIS LTD

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 11,362 6,297
11,362 6,297
Current assets
Debtors 5 330,498 72,943
Cash at bank and in hand 71,825 831,316
402,323 904,259
Creditors: amounts falling due within one year 6 ( 436,058) ( 35,189)
Net current (liabilities)/assets (33,735) 869,070
Total assets less current liabilities (22,373) 875,367
Creditors: amounts falling due after more than one year 7 ( 7,405) ( 16,993)
Net (liabilities)/assets ( 29,778) 858,374
Capital and reserves
Called-up share capital 8 273 239
Share premium account 2,619,600 2,326,117
Profit and loss account ( 2,649,651 ) ( 1,467,982 )
Total shareholders' (deficit)/funds ( 29,778) 858,374

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Iventis Ltd (registered number: 09729119) were approved and authorised for issue by the Board of Directors on 13 February 2025. They were signed on its behalf by:

Joseph Cusdin
Director
IVENTIS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
IVENTIS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 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

Iventis Ltd (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 Think Tank, Ruston Way, Lincoln, LN6 7FL, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £71,648. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the provision of the visual events planning software products. Turnover is recognised in relation to the term of the contract of the service.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line
Computer equipment 25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Profit and Loss Account 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 12

3. Share-based payments

Equity-settled share-based payment schemes

The Company has a share option scheme for all employees.

Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. The vesting period is three years. If the options remain unexercised after a period of five years from the date of grant the options expire. Options are forfeited if the employee leaves the Company before the options vest.

Details of the share options outstanding during the financial year are as follows:

2024 2023
Weighted Average Weighted Average
Number of share options Average exercise price (£) Number of share options Average exercise price (£)
Outstanding at beginning of period 0 0 0 0
Granted during the period 420 13.89 0 0
Outstanding at the end of the period 420 13.89 0 0
Exercisable at the end of the period 0 0 0 0

The fair value of the share options at the grant date was calculated using the Black-Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

The expected life used in the model has been adjusted, based on management’s best estimate, for the effect of non-transferability, exercise restrictions, and behavioural considerations.

The share options are a mix of equity-settled EMI and unapproved options and have a maximum term of 10 years. The unapproved options are able to be exercised at any time from the date they vest.

The company did not recognise any share-based payment expenses which related to either the EMI or unapproved scheme through the profit and loss account as they were deemed to be immaterial.

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 September 2023 1,414 17,360 18,774
Additions 716 7,029 7,745
At 31 August 2024 2,130 24,389 26,519
Accumulated depreciation
At 01 September 2023 1,147 11,330 12,477
Charge for the financial year 282 2,398 2,680
At 31 August 2024 1,429 13,728 15,157
Net book value
At 31 August 2024 701 10,661 11,362
At 31 August 2023 267 6,030 6,297

5. Debtors

2024 2023
£ £
Trade debtors 220,536 46,407
Corporation tax 67,870 0
Other debtors 42,092 26,536
330,498 72,943

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,370 8,613
Trade creditors 33,392 41,789
Taxation and social security 140,731 ( 58,779)
Other creditors 252,565 43,566
436,058 35,189

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,405 16,993

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
13,892 A Shares ordinary shares of £ 0.01 each 139 139
10,000 Ordinary Shares shares of £ 0.01 each 100 100
3,412 B Shares ordinary shares of £ 0.01 each (2023: nil shares) 34 0
273 239

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 21,441 6,406

This loan is interest free and has no fixed repayment terms.

10. Events after the Balance Sheet date

On 11th September 2024, 3,412 Ordinary B shares with a total nominal value of £34.12 were allotted for a total consideration of £300,017.16.