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Company No: 15714677 (England and Wales)

# IME LIFE LIMITED

### Unaudited Financial Statements
For the financial period from 11 May 2024 to 31 May 2025
Pages for filing with the registrar

IME LIFE LIMITED

## Unaudited Financial Statements

For the financial period from 11 May 2024 to 31 May 2025

Contents

IME LIFE LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 May 2025
IME LIFE LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2025

| Note | 31.05.2025
|  | £
Fixed assets |  |
Intangible assets | 3 | 210,992
|  | 210,992
Current assets |  |
Debtors | 4 | 4,299
Cash at bank and in hand |  | 148,975
|  | 153,274
Creditors: amounts falling due within one year | 5 | ( 204,093)
Net current liabilities |  | (50,819)
Total assets less current liabilities |  | 160,173
Net assets |  | 160,173
Capital and reserves |  |
Called-up share capital | 6 | 125
Share premium account |  | 159,525
Other reserves | 9 | 64,862
Profit and loss account |  | ( 64,339 )
Total shareholders' funds |  | 160,173

For the financial period ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of IME Life Limited (registered number: 15714677) were approved and authorised for issue by the Director. They were signed on its behalf by:

D Neocleous Director |

10 April 2026

IME LIFE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 May 2024 to 31 May 2025
IME LIFE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 May 2024 to 31 May 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

IME Life Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Income and Retained Earnings.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs | 5 years straight line
Trademarks, patents and licences | 5 years straight line

###### Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the company is expected to benefit. This period is five years which is the estimated useful economic life. Provision is made for any impairment.

###### Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 5 years which is their estimated useful economic life. Provision is made for any impairment.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

##### 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 creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

#### 2. Employees

| Period from 11.05.2024 to 31.05.2025
| Number
Monthly average number of persons employed by the company during the period, including the director | 0

#### 3. Intangible assets

| Development costs |  | Trademarks, patents and licences |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 11 May 2024 | 0 |  | 0 |  | 0
Additions | 207,469 |  | 3,523 |  | 210,992
At 31 May 2025 | 207,469 |  | 3,523 |  | 210,992
Accumulated amortisation |  |  |  |  |
At 11 May 2024 | 0 |  | 0 |  | 0
At 31 May 2025 | 0 |  | 0 |  | 0
Net book value |  |  |  |  |
At 31 May 2025 | 207,469 |  | 3,523 |  | 210,992

The development costs included above have been fully impaired in a future period (see note 8: Events after the balance sheet date for further details).
No amortisation has been provided in the period on the basis that the assets were not fully available for use and in a condition necessary for them to be usable in the manner intended by management at 31 May 2025.

#### 4. Debtors

| 31.05.2025
| £
Trade debtors | 369
Prepayments | 3,930
| 4,299

#### 5. Creditors: amounts falling due within one year

| 31.05.2025
| £
Amounts owed to director | 55
Accruals | 5,800
Other creditors | 198,238
| 204,093

Other creditors represents amounts received in respect of shares to be issued.

#### 6. Called-up share capital

| 31.05.2025
| £
Allotted, called-up and fully-paid |
125,008 Ordinary shares of £ 0.001 each | 125

On incorporation, 100,000 ordinary shares were issued at a nominal value of £0.001 for consideration of £100. During the year, the company issued a further 25,008 ordinary shares of £0.001 each for consideration of £159,550.

#### 7. Related party transactions

During the year, the company paid costs of £3,523 in relation to the registration and maintenance of a trademark. The trademark is legally registered in the name of Fenert Solutions Limited, a company incorporated in Cyprus, and is held by that company on trust for IME Life Ltd which is the beneficial owner of the trademark and has the right to derive the economic benefits arising from its use. Fenert Solutions Limited is wholly-owned and controlled by the director.

#### 8. Events after the Balance Sheet date

Subsequent to the year end, the director decided to change the strategic direction of the business and, as a result, to cease further development of an internally generated development project. At 31 May 2025, development costs of £207,469 relating to this project were capitalised as an intangible asset in accordance with section 18 of Financial Reporting Standard 102. The decision to discontinue the project was made after the reporting date as part of a strategic pivot and does not provide evidence of conditions that existed at the balance sheet date. Accordingly, no impairment has been recognised in these financial statements. The director expects that an impairment of the related intangible asset will be recognised in the subsequent financial period.

#### 9. Reserves

| 31.05.2025
| £
Other reserves | 64,862

Included within other reserves are funds received on account from existing shareholders relating to potential future conversions to share capital.