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Company registration number: 03930971
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2024
| IMETA TECHNOLOGIES LIMITED
IMETA TECHNOLOGIES LIMITED |  |
COMPANY INFORMATION
Directors | Mr D J Rushworth
| Mrs S Duliman
Registered number | 03930971
Registered office | Tollbar House
| Tollbar Way
| Hedge End
| Southampton
| SO30 2ZP
Independent auditors | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
IMETA TECHNOLOGIES LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 9
IMETA TECHNOLOGIES LIMITED REGISTERED NUMBER:03930971 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 6,714 |  | 18,230
|  |  | 6,714 |  | 18,230
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 2,828,880 |  | 2,796,686 |
Bank and cash balances |  | 96,469 |  | 579,113 |
|  | 2,925,349 |  | 3,375,799 |
Creditors: amounts falling due within one year | 6 | (766,663) |  | (838,736) |
Net current assets |  |  | 2,158,686 |  | 2,537,063
Total assets less current liabilities |  |  | 2,165,400 |  | 2,555,293
Provisions for liabilities |  |  |  |  |
Other provision |  | - |  | (25,000) |
|  |  | - |  | (25,000)
Net assets |  |  | 2,165,400 |  | 2,530,293
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 832 |  | 832
Share premium account |  |  | 35,684 |  | 35,684
Capital redemption reserve |  |  | 5 |  | 5
Profit and loss account |  |  | 2,128,879 |  | 2,493,772
|  |  | 2,165,400 |  | 2,530,293
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 income and retained earnings 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:
................................................ Mrs S Duliman
Director
Date: 13 November 2025
Page 1
IMETA TECHNOLOGIES LIMITED REGISTERED NUMBER:03930971 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 The notes on pages 3 to 9 form part of these financial statements. Page 2
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
iMeta Technologies Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
As detailed in note 9 of these financial statements, in the post year end period the company commenced the hive up of its trade and assets to Actimize UK Limited (a fellow group company) at book value. Following the transfer of the assets, customer contracts and staff, the company ceased trading. As there is no intention to acquire a replacement trade, the Directors have not prepared the Financial Statements on a going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Page 3
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Licence Income The is revenue from the sales of software licences. Revenue is recognised over the period of the software contracted agreement. Maintenance Income This revenue is from the sales of maintenance support. Revenue is recognised over the period of the contracted agreement. Services Income The is income from specified services. Revenue is recognised at the point at which the services have been provided, or milestones per contract have been reached.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 4
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | 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 reporting date in the countries where the Company operates and generates income.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Building improvements | - | 20% straight line
|  |  |  | Office equipment | - | 25% straight line and 50% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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. Page 5
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.14 | 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 Statement of financial position 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
The average monthly number of employees, including the directors, during the year was 14 (2023 - 21). Page 6
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Building Improvement | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 41,958 | 133,554 | 175,512
| Additions | - | 7,797 | 7,797
| Disposals | (41,958) | (133,554) | (175,512)
| At 31 December 2024 | - | 7,797 | 7,797
| Depreciation |  |  |
| At 1 January 2024 | 41,275 | 116,007 | 157,282
| Charge for the year on owned assets | 248 | 3,403 | 3,651
| Disposals | (41,523) | (118,327) | (159,850)
| At 31 December 2024 | - | 1,083 | 1,083
| Net book value |  |  |
| At 31 December 2024 | - | 6,714 | 6,714
| At 31 December 2023 | 683 | 17,547 | 18,230
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 892,323 | 203,803
| Amounts owed by group undertakings | 1,774,140 | 2,333,024
| Other debtors | - | 113,949
| Prepayments and accrued income | 11,955 | 83,101
| Tax recoverable | 150,462 | 62,809
|  | 2,828,880 | 2,796,686
Page 7
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 13,575 | 7,375
| Amounts owed to group undertakings | 386,743 | -
| Other taxation and social security | 89,958 | 176,343
| Other creditors | - | 64,886
| Accruals and deferred income | 276,387 | 590,132
|  | 766,663 | 838,736
7. | Provisions
|  | Dilapidations provision
|  | £
| At 1 January 2024 | 25,000
| Released in year | (25,000)
| At 31 December 2024 | -
8. | Commitments under operating leases
| At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | - | 41,652
|  | - | 41,652
9. | Post balance sheet events
The following non adjusting events have occured since 31 December 2024: Subsequent to the Balance Sheet date, the company has commenced a hive-up transaction, whereby the trade, assets and liabilities of the company were transferred up to Actimize UK Limited. At the point that this transfer commenced the company has ceased trading and therefore the financial statements have been prepared on a basis other than going concern. Page 8
IMETA TECHNOLOGIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Controlling party
The intermediate parent company is iMeta Holdings Limited, a company registered in England & Wales. The registered office address of the company is Tollbar House, Tollbar Way, Hedge End, Southampton, SO30 2ZP. The ultimate parent company is Nice Holdings Limited, A company registered in Israel. The registered office address of the company is 13 Zarchin Street, P.O. Box 690, Ra’anana 4310602, Israel.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
| In their report, the auditors emphasised the following matter without qualifying their report: We draw attention to Note 2.2 to the financial statements which explains that the directors intend to hive up the trade activites, assets and liabilities of the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2.2. Our opinion is not modified in respect of this matter.
The audit report was signed on 14 November 2025 by Andrew Galliers FCA (Senior statutory auditor) on behalf of Menzies LLP.
Page 9