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REGISTERED NUMBER: 11204427 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IPSIDY ENTERPRISES LTD

IPSIDY ENTERPRISES LTD (REGISTERED NUMBER: 11204427)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IPSIDY ENTERPRISES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr G Arad





SECRETARY: Coad Secretaries Limited





REGISTERED OFFICE: 55 Loudoun Road
St John's Wood
London
NW8 0DL





REGISTERED NUMBER: 11204427 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

IPSIDY ENTERPRISES LTD (REGISTERED NUMBER: 11204427)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
CURRENT ASSETS
Cash at bank 382 484

CREDITORS
Amounts falling due within one year 4 (1,022,849 ) (1,017,787 )
NET CURRENT LIABILITIES (1,022,467 ) (1,017,303 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,022,467 ) (1,017,303 )

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (1,022,567 ) (1,017,403 )
SHAREHOLDERS' FUNDS (1,022,467 ) (1,017,303 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 30 May 2025 and were signed by:





Mr G Arad - Director


IPSIDY ENTERPRISES LTD (REGISTERED NUMBER: 11204427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Ipsidy Enterprises 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.

The director reports net current liabilities of £1,022,467 (2023: £1,017,303) at the balance sheet date but the parent company has agreed to continue to support the company.

Due to the above the director believes that it is appropriate for the financial statements to be prepared on a going concern basis.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

IPSIDY ENTERPRISES LTD (REGISTERED NUMBER: 11204427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,365 -
Amounts owed to group undertakings 1,018,984 1,016,721
Other creditors 2,500 1,066
1,022,849 1,017,787

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100

6. RELATED PARTY DISCLOSURES

authID.ai

The parent company.


31.12.24 31.12.23
£    £   
Amount due to related party at the balance sheet date 1,018,984 1,016,721

7. PARENT COMPANY

The company is a wholly owned subsidiary of authID.ai, a quoted company registered in the USA.