Intergenic Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Intergenic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12255762 . The registered office is Quadrant House, Floor 6, 4 Thomas More Square, London, E1W 1YW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future on the basis that the loans from its parent company are not repayable until such time as the company is able to. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. For the sale of beverages, food and consumables, this will be at the point of sale.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Turnover from membership subscriptions is recognised over the period to which the subscription covers.

Turnover from nursery fees and camps is recognised when the services are delivered to the customer.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & trademarks - 10 years straight line

Content creation - 5 years straight line

Website and tech Platform - 5 years straight line

At each reporting period end date, the company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

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Intergenic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	15 years straight line
Plant & Machinery	5 years straight line
Fixtures & Fittings	3 years straight line
Computer Equipment	3 years straight line

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

2.6. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.8. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Intergenic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

2.11. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.12. Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 31 (2023: 66)

4. Intangible Assets

	Other Intangible Assets
	£
Cost
As at 1 January 2024	553,307
Additions	5,092
Disposals	(98,443 )

As at 31 December 2024	459,956

Amortisation
As at 1 January 2024	334,732
Provided during the period	177,973
Disposals	(73,465)

As at 31 December 2024	439,240

Net Book Value
As at 31 December 2024	20,716

As at 1 January 2024	218,575

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Intergenic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 January 2024	2,528,679	472,213	3,000,892
Additions	52,364	-	52,364
Disposals	(683,062 )	(422,903 )	(1,105,965 )

As at 31 December 2024	1,897,981	49,310	1,947,291

Depreciation
As at 1 January 2024	1,683,849	308,135	1,991,984
Provided during the period	168,865	82,204	251,069
Disposals	(166,097 )	(347,640 )	(513,737 )

As at 31 December 2024	1,686,617	42,699	1,729,316

Net Book Value
As at 31 December 2024	211,364	6,611	217,975

As at 1 January 2024	844,830	164,078	1,008,908

6. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	1

As at 31 December 2024	1

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1

As at 1 January 2024	1

7. Stocks

	2024	2023
	£	£
Stock	-	11,202

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,015	13,586
Amounts owed by group undertakings	-	11,024
Other debtors	311,288	257,088

	312,303	281,698

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Intergenic Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	108,322	391,005
Amounts owed to group undertakings	49,640	50,488
Amounts owed to participating interests	14,760	15,012
Other creditors	150,424	779,662
Taxation and social security	57,322	63,204

	380,468	1,299,371

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to participating interests	10,548,486	8,559,363

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,400,000	1,400,000

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	288,000	512,400
Later than one year and not later than five years	936,000	2,562,000
Later than five years	-	2,946,300

	1,224,000	6,020,700

13. Pension Commitments

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,254 (2023: £3,640) were due to the fund. They are included in Other Creditors.

14. Related Party Transactions

During the year, the company received services from group companies for the amount of £Nil (2023: £Nil). At the year end, the amount owed to Tamariki Pte Ltd, its parent company, was £14,760 (2023: £15,012) and the amount owed to other group companies was £49,640 (2023: £50,488). The amounts are included within creditors falling due within one year.

During the year, the company received loans from Tamariki Pte Ltd, its parent company, of £1,648,000 (2023: £2,397,000) and accrued interest charged on the loan of £341,123 (2023: £275,153). At the year end, the amount outstanding was £10,548,486 (2023: £8,559,363). The amount is included within creditors falling due after more than one year.

15. Parent Undertaking and Controlling Party

74.3% of the company's shares are held by Tamariki Pte. Ltd, a company incorporated in Singapore and its registered office is 6B Orange Grove Road, COMO House, Singapore 258332.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		20,716		218,575
Tangible Assets	5		217,975		1,008,908
Investments	6		1		1

			238,692		1,227,484
CURRENT ASSETS
Stocks	7	-		11,202
Debtors	8	312,303		281,698
Cash at bank and in hand		83,719		250,314

		396,022		543,214
Creditors: Amounts Falling Due Within One Year	9	(380,468 )		(1,299,371 )

NET CURRENT ASSETS (LIABILITIES)			15,554		(756,157 )

TOTAL ASSETS LESS CURRENT LIABILITIES			254,246		471,327

Creditors: Amounts Falling Due After More Than One Year	10		(10,548,486 )		(8,559,363 )

NET LIABILITIES			(10,294,240 )		(8,088,036 )

CAPITAL AND RESERVES
Called up share capital	11		1,400,000		1,400,000
Profit and Loss Account			(11,694,240 )		(9,488,036 )

SHAREHOLDERS' FUNDS			(10,294,240)		(8,088,036)