ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: SC359020

20/20 INTELLECTUAL PROPERTY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

20/20 INTELLECTUAL PROPERTY LIMITED

REGISTERED NUMBER: SC359020

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Notes		£		£

Fixed assets
Intangible assets	4		-		488,661
			-		488,661
Current assets
Debtors: amounts falling due within one year	5	-		5,849
Cash at bank and in hand		1		49,146
Current liabilities		1		54,995
Creditors: amounts falling due within one year	6	-		(1,032,033)
Net current assets/(liabilities)			1		(977,038)
Total assets less current liabilities			1		(488,377)
Creditors: amounts falling due after more than one year	7		-		(14,167)

Net assets/(liabilities)			1		(502,544)

Capital and reserves
Called up share capital	9	503,480	1
Profit and loss account		(503,479)	(502,545)
		1	(502,544)

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20/20 INTELLECTUAL PROPERTY LIMITED

REGISTERED NUMBER: SC359020

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

T Vincent

Directors

Date: 12 September 2025

The notes on pages 3 to 8 form part of these financial statements.

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

20/20 Intellectual Property Limited is a private company limited by shares and incoporated in Scotland. The registered office is Elevator Business Centre Endeavour Drive, Arnhall Buiness Park, Westhill, Scotland, AB32 6UF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

At the balance sheet date the Company had net assets of £1 (2024: net liabilities £502,544). Following the restructuring on 28 March 2025, the Company will be dormant and therefore the accounts are not prepared on a going concern basis.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

				Patents	-	10%	straight line
				Licences	-	20%	straight line

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		IP Assets
		£

	At 1 April 2024	1,854,648
	Disposals	(1,854,648)
	At 31 March 2025	-

	At 1 April 2024	1,365,987
	On disposals	(1,365,987)
	At 31 March 2025	-
	Net book value
	At 31 March 2025	-
	At 31 March 2024	488,661

On 28 March 2025, the Company transferred its assets and liabilities to a fellow subsidiary in exchange for part settlement of it's intercompany loan account.

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	5,849
	-	5,849

On 28 March 2025, the Company transferred its assets and liabilities to a fellow subsidiary in exchange for part settlement of it's intercompany loan account.

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other loans	-	10,000
Amounts owed to group undertakings	-	940,636
Corporation tax	-	63,058
Other taxation and social security	-	443
Accruals and deferred income	-	17,896
	-	1,032,033

On 28 March 2025, the Company transferred its assets and liabilities to a fellow subsidiary in exchange for part settlement of it's intercompany loan account.

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	-	14,167
	-	14,167

Graham Chapman, the trustees of The Marks and Chapman Group SIPP, Debra Jane Wilkinson, the trustees of the Neil Harkin SIPP, the trustees of The Marks and Marks SIPP and the trustees of The Graham Chapman SIPP hold a bond and floating charge over the property and undertaking of the Company. On 28 March 2025, the Company transferred its assets and liabilities to a fellow subsidiary.

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Amounts falling due within one year
Other loans	-	10,000
	-	10,000
Amounts falling due 1-2 years
Other loans	-	14,167
	-	14,167


	-	24,167

The Company took a Business Bounceback Loan in 2020 of £50,000. The bank loan was interest free for the first year and interest is payable at 2.5% thereafter. The loan was repayable over 5 years. There was no security held against the loan. The remaining loan was repaid early during the year.

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

503,480 (2024 - 1) Ordinary shares of £1.00 each	503,480	1

On 28 March 2025, 503,479 ordinary shares of £1.00 were issued at par.

10.

Related party transactions

At the year end £nil (2024: £905,751) was due to 20/20 Business Insight Limited by the Company. During the year, the Company acquired intangible assets of £NIL (2024: £70,026) from 20/20 Business Insight Limited.
At the year end £nil (2024: £34,885) was due to 20/20 Business Group Limited.
At the year end £nil (2024: £1,871) was due to the Company from 20/20 Business Group Inc.
On 28 March 2025, The Company transferred its assets and liabilities with a value of £437,698 in exchange for part settlement of amounts owed to group undertakings.
The Company issued 503,479 Ordinary £1 shares at par to settle the remaining amounts owed to group undertakings.

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20/20 INTELLECTUAL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Controlling party

The controlling party is 20/20 Business Group Limited. The ultimate controlling parties are the Trustees of the 20/20 Employee Ownership Trust.

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