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REGISTERED NUMBER: 02878495 (England and Wales)















IMOSPHERE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






IMOSPHERE LTD (REGISTERED NUMBER: 02878495)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


IMOSPHERE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P I Clifford
S H Cordier
J H Lewin
B R Wilson
Mrs N E Kenneison-Bugg
A Morris
D I Cordier





SECRETARY: P I Clifford





REGISTERED OFFICE: 3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR





REGISTERED NUMBER: 02878495 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,626,916 2,751,574
Investments 5 10,083 10,083
2,636,999 2,761,657

CURRENT ASSETS
Debtors 6 1,559,725 2,117,497
Cash at bank and in hand 186,802 39
1,746,527 2,117,536
CREDITORS
Amounts falling due within one year 7 1,181,686 1,478,444
NET CURRENT ASSETS 564,841 639,092
TOTAL ASSETS LESS CURRENT LIABILITIES 3,201,840 3,400,749

CREDITORS
Amounts falling due after more than one year 8 (1,585,978 ) (1,865,978 )

PROVISIONS FOR LIABILITIES (496,268 ) (519,752 )
NET ASSETS 1,119,594 1,015,019

CAPITAL AND RESERVES
Called up share capital 9 540,822 822
Share premium 1,805,294 1,805,294
Retained earnings (1,226,522 ) (791,097 )
SHAREHOLDERS' FUNDS 1,119,594 1,015,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





B R Wilson - Director


IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Imosphere 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements cover the individual entity.

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.

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

Revenue arising from the sale of measurement tools and associated software is recognised over the period of the contract term.

Intangible assets
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 10 years.

Development costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 25 years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Going concern
The financial statements have been prepared on the going concern basis, which assumes the company will continue in operational existence for the foreseeable future.

The company has invested over £6m in the Research and Development of our software of which £3.1m has been capitalised in the Balance Sheet. The shareholders have supported the working capital requirements of this through loans to the company, they remain committed to the future of the business and will continue to provide any necessary support.

New business in the UK market has grown significantly and interest in our software remains high as we look to continue growing revenues in this market. The company has the necessary funds to allow it to execute this plan through the coming twelve months.

During the preparation of the financial statements the directors considered a period more than 12 months from the date of approval. They have considered all information that could reasonably be expected to be available, and, on this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 57 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 28,000 3,096,444 3,124,444
AMORTISATION
At 1 July 2023 13,400 359,470 372,870
Amortisation for year 800 123,858 124,658
At 30 June 2024 14,200 483,328 497,528
NET BOOK VALUE
At 30 June 2024 13,800 2,613,116 2,626,916
At 30 June 2023 14,600 2,736,974 2,751,574

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 10,083
NET BOOK VALUE
At 30 June 2024 10,083
At 30 June 2023 10,083

IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,158 407,132
Amounts owed by participating interests 1,466,840 1,473,486
Other debtors - 46,231
Accrued income 51,520 165,809
Prepayments 28,207 24,839
1,559,725 2,117,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 204,874
Other loans 250,000 -
Trade creditors 46,219 34,545
Other taxes and social security 42,174 100,437
VAT 68,257 189,671
Other creditors 18,527 30,759
Accruals and deferred income 706,509 918,158
1,181,686 1,478,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 4,167 54,167
Directors' current accounts 1,531,811 1,761,811
1,585,978 1,865,978

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
82,238 Ordinary £0.01 822 822
540,000 Preference £1 540,000 -
540,822 822

540,000 Preference shares of £1 each were allotted and fully paid for cash at par during the year.

10. OTHER FINANCIAL COMMITMENTS

20242023
£   £   

Within one year23,23219,204
Between one and five years8,46515,316

34,52034,520


IMOSPHERE LTD (REGISTERED NUMBER: 02878495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. RELATED PARTY DISCLOSURES

During the year Imosphere Limited provided professional services totalling £37,564 (2023 - £51,185) to Imosphere Incorporated, a company over which Imosphere Limited has significant influence.

Included in debtors is an outstanding balance of £1,466,840 (2023 - £1,439,481) from Imosphere Incorporated and an outstanding balance of £34,005 (2023 - £34,005) from Imosphere Holdings Limited, a company over which Imosphere Limited has control.