Inspection.AI Ltd 15271885 false 2023-11-09 2024-11-30 2024-11-30 The principal activity of the company is Inspection services Digita Accounts Production Advanced 6.30.9574.0 true true 15271885 2023-11-09 2024-11-30 15271885 2024-11-30 15271885 bus:Director1 1 2024-11-30 15271885 bus:Director2 1 2024-11-30 15271885 bus:OrdinaryShareClass1 2024-11-30 15271885 core:CurrentFinancialInstruments 2024-11-30 15271885 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 15271885 bus:SmallEntities 2023-11-09 2024-11-30 15271885 bus:AuditExemptWithAccountantsReport 2023-11-09 2024-11-30 15271885 bus:FilletedAccounts 2023-11-09 2024-11-30 15271885 bus:SmallCompaniesRegimeForAccounts 2023-11-09 2024-11-30 15271885 bus:RegisteredOffice 2023-11-09 2024-11-30 15271885 bus:Director1 2023-11-09 2024-11-30 15271885 bus:Director1 1 2023-11-09 2024-11-30 15271885 bus:Director2 2023-11-09 2024-11-30 15271885 bus:Director2 1 2023-11-09 2024-11-30 15271885 bus:Director3 2023-11-09 2024-11-30 15271885 bus:OrdinaryShareClass1 2023-11-09 2024-11-30 15271885 bus:PrivateLimitedCompanyLtd 2023-11-09 2024-11-30 15271885 core:AllJointVentures 2023-11-09 2024-11-30 15271885 core:OtherRelatedParties 2023-11-09 2024-11-30 15271885 countries:AllCountries 2023-11-09 2024-11-30 15271885 bus:Director1 1 2023-11-08 15271885 bus:Director2 1 2023-11-08 iso4217:GBP xbrli:pure xbrli:shares

Filleted
Registration number: 15271885

Inspection.AI Ltd
Unaudited Filleted Financial Statements
for the Period from 9 November 2023 to 30 November 2024

Inspection.AI Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Inspection.AI Ltd

Company Information

Directors | Mr C A Nutty Mr M A S Sim Ms J P C Carrol

Registered office | 64 Lower Quay Road Hook Haverfordwest SA62 4LR

Inspection.AI Ltd

(Registration number: 15271885)
Balance Sheet as at 30 November 2024

| Note | 2024 £
Current assets |  |
Debtors | 4 | (2,098)
Cash at bank and in hand |  | 244
|  | (1,854)
Creditors: Amounts falling due within one year | 5 | (450)
Net liabilities |  | (2,304)
Capital and reserves |  |
Called up share capital | 6 | 2
Retained earnings |  | (2,306)
Shareholders' deficit |  | (2,304)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

......................................... Mr C A Nutty Director | ......................................... Mr M A S Sim Director | ......................................... Ms J P C Carrol Director

Inspection.AI Ltd

Notes to the Unaudited Financial Statements for the Period from 9 November 2023 to 30 November 2024

1 | General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
64 Lower Quay Road
Hook
Haverfordwest
SA62 4LR

These financial statements were authorised for issue by the Board on 15 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Inspection.AI Ltd

Notes to the Unaudited Financial Statements for the Period from 9 November 2023 to 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4 | Debtors

Current | 2024 £
Other debtors | (2,098)
| (2,098)

Inspection.AI Ltd

Notes to the Unaudited Financial Statements for the Period from 9 November 2023 to 30 November 2024

5 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £
Due within one year |  |
Other creditors |  | 450

6 | Share capital

Allotted, called up and fully paid shares

| 2024
| No. | £
Ordinary shares of £1 each | 2 | 2

7 | Related party transactions

Transactions with directors

2024 | At 9 November 2023 £ | Advances to director £ | At 30 November 2024 £
Mr C A Nutty
Interest free loan with no repayment term | - | 1 | 1
Mr M A S Sim
Interest free loan with no fixed repayment term | - | 1 | 1

Inspection.AI Ltd

Notes to the Unaudited Financial Statements for the Period from 9 November 2023 to 30 November 2024

Summary of transactions with joint ventures

XACTX Ltd / XACTX Group Ltd
(Mr Craig Nutty is also a director in the above 2 companies)
Inspection Body UK Ltd
(Mr Michael Simm is also a director in the above named company)
ISO Integrity Ltd
(Ms Joanne Carrol is also a director in the above named company)

Summary of transactions with other related parties

There is a loan balance due to XACTX Ltd (2024: £700). This balance is interest free and repayable on agreement
There is a loan balance due to Inspection Body UK Ltd (2024: £700). This balance is interest free and repayable on agreement
There is a loan balance due to ISO Integrity Ltd (2024: £700). This balance is interest free and repayable on agreement