Acorah Software Products - Accounts Production 18.1.170 false true true 30 November 2024 1 December 2023 false 31 March 2026 1 December 2024 30 November 2025 30 November 2025 04087001 Fimatix Uk Ltd Mr T C Howarth Mr S J Nadin Fimatix UK Ltd. false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04087001 2024-11-30 04087001 2025-11-30 04087001 2024-12-01 2025-11-30 04087001 frs-core:CurrentFinancialInstruments 2025-11-30 04087001 frs-core:ComputerEquipment 2025-11-30 04087001 frs-core:ComputerEquipment 2024-12-01 2025-11-30 04087001 frs-core:ComputerEquipment 2024-11-30 04087001 frs-core:FurnitureFittings 2025-11-30 04087001 frs-core:FurnitureFittings 2024-12-01 2025-11-30 04087001 frs-core:FurnitureFittings 2024-11-30 04087001 frs-core:SharePremium 2025-11-30 04087001 frs-core:ShareCapital 2025-11-30 04087001 frs-core:RetainedEarningsAccumulatedLosses 2025-11-30 04087001 frs-bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 04087001 frs-bus:FilletedAccounts 2024-12-01 2025-11-30 04087001 frs-bus:SmallEntities 2024-12-01 2025-11-30 04087001 frs-bus:Audited 2024-12-01 2025-11-30 04087001 frs-bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 04087001 frs-bus:OrdinaryShareClass1 2024-12-01 2025-11-30 04087001 frs-bus:OrdinaryShareClass1 2025-11-30 04087001 1 2024-12-01 2025-11-30 04087001 frs-core:DeferredTaxation 2024-12-01 2025-11-30 04087001 frs-core:DeferredTaxation 2025-11-30 04087001 frs-bus:Director1 2024-12-01 2025-11-30 04087001 frs-bus:Director2 2024-12-01 2025-11-30 04087001 frs-bus:CompanySecretary1 2024-12-01 2025-11-30 04087001 frs-countries:EnglandWales 2024-12-01 2025-11-30 04087001 2023-11-30 04087001 2024-11-30 04087001 2023-12-01 2024-11-30 04087001 frs-core:CurrentFinancialInstruments 2024-11-30 04087001 frs-core:SharePremium 2024-11-30 04087001 frs-core:ShareCapital 2024-11-30 04087001 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 04087001 frs-bus:OrdinaryShareClass1 2023-12-01 2024-11-30
Registered number: 04087001
Idea Group Limited
Financial Statements
For The Year Ended 30 November 2025
Peter Jarman LLP
Idea Group Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—6

Page 1
Idea Group Limited
Balance Sheet
As At 30 November 2025
Balance Sheet
Registered number: 04087001

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 5,917 |  | -
|  |  | 5,917 |  | -
CURRENT ASSETS
Debtors | 5 | 215,405 |  | 80,503 |
Cash at bank and in hand |  | 1,638 |  | 1,366 |
|  | 217,043 |  | 81,869 |
Creditors: Amounts Falling Due Within One Year | 6 | (458,100 ) |  | (417,555 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (241,057 ) |  | (335,686 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (235,140 ) |  | (335,686 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (1,124 ) |  | -
NET LIABILITIES |  |  | (236,264 ) |  | (335,686 )
CAPITAL AND RESERVES
Called up share capital | 8 |  | 2,066 |  | 2,066
Share premium account |  |  | 68,706 |  | 68,706
Profit and Loss Account |  |  | (307,036 ) |  | (406,458 )
SHAREHOLDERS' FUNDS |  |  | (236,264) |  | (335,686)

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr T C Howarth Director
31/03/2026

The notes on pages 2 to 6 form part of these financial statements.
Page 1
Page 2
Idea Group Limited
Notes to the Financial Statements
For The Year Ended 30 November 2025
Notes to the Financial Statements
1. General Information
Idea Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04087001 . The registered office is Unit 11.1.1, The Leather Market, Weston Street, London, SE1 3ER.
The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.
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.
2.2. Going Concern Disclosure
Background and going concern assessment
Idea Group Limited (“IGL”) is a wholly owned subsidiary of Fimatix UK Limited (“Fimatix”). IGL’s ability to continue as a going concern is reliant on the ongoing financial support of the Fimatix group.
During the prior year ended 30 November 2024, the Fimatix group faced material short-term financial pressures, principally arising from outstanding HMRC liabilities. At the previous balance sheet date, total net liabilities of IGL stood at £335,686, The parent company was in negotiation with HMRC to agree a formal arrangement to settle the material outstanding liabilities over an acceptable period of time. The directors identified a material uncertainty at 30 November 2024 that may have cast significant doubt on the company’s ability to continue as a going concern if issues with HMRC were not resolved in a reasonable timeframe. Accordingly, the 2024 financial statements were prepared on a going concern basis, with appropriate disclosure of this material uncertainty made in Note 2 to the 2024 financial statements.
Resolution of material uncertainty following the balance sheet date
Since the balance sheet date of 30 November 2025, the circumstances giving rise to the material uncertainty in the prevous year have materially improved. The directors draw attention to the following developments, which are described further in the Post Balance Sheet Events section below:

- In January 2026, Fimatix UK Limited entered into a Company Voluntary Arrangement (“CVA”) with HMRC and other long-term creditors. The CVA consolidates the group’s significant HMRC liabilities and provides for monthly repayments of £30,000 over a five-year period. As at the date of approval of these financial statements, the company is in full compliance with the CVA provisions.

- The CVA has substantially reduced the immediate liquidity pressures faced by the group and provides a structured and feasible path to settlement of the historic tax and other liabilities.

- Fimatix has demonstrated strong financial performance in the period from 1 July 2025 to 16 March 2026, generating total revenues of approximately £3.1 million reflecting the group’s significant improvement in trading activity.

- The group’s balance sheet as at 16 March 2026 shows cash at bank of approximately £65,000, trade debtors of approximately £174,000, and a total net assets position of approximately £5.5 million, supported by the group’s investment portfolio.

- The group has further benefited from successful R&D tax credit claims through HMRC’s Late Claims process, which have reduced the quantum of the HMRC liability.

Whilst the CVA does not eliminate all financial risk, the directors have reviewed cashflow forecasts and trading projections for a minimum twelve-month period from the date of approval of these financial statements. Based on the evidence available, and in particular the execution of the CVA, the ongoing trading performance of the Fimatix group, and the group’s continued compliance with CVA obligations, the directors are satisfied that it is appropriate to continue to prepare these financial statements on a going concern basis.
Page 2
Page 3
Idea Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.3. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. The following criteria must also be met before turnover isrecognised:
Rendering of services
Revenue from a contract to provide services is recognised by reference to the stage of completion of the contract when all the following have been satisfied:
- the amount of revenue can be measured reliably
- it is probable that future economic benefits will flow to the company
- the stage of completion of the contract at the end of the reporting period can be measured reliably
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
The company recognises revenue on the following revenue types:
Licences & support
Licences and support services are provided consistently over the term of the contract. As a result, turnover is
recognised on a straight-line basis over the contract term.
Usage fees
Some contracts include revenue for order usage. Turnover is recognised in the period the usage occurred.
2.4. 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:

Fixtures & Fittings | 50% on cost
Computer Equipment | 50% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
2.5. Financial Instruments
Basic financial assets
Basic financial assets, which include debtors and cash and cash equivalents, 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. Amortised cost is determined as being the transaction price less any amounts settled and any impairment losses. Financial assets classified as receivable within one year are not amortised.
A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.
Basic financial liabilities
Basic financial liabilities, including trade, group and other creditors (including accruals) payable are initially measured at the transaction price and subsequently measured at amortised cost 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 receivable within one year are not amortised.
2.6. 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.
Page 3
Page 4
Idea Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. 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.
2.9. Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets

| Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 December 2024 | 10,372 | 42,353 | 52,725
Additions | - | 7,890 | 7,890
As at 30 November 2025 | 10,372 | 50,243 | 60,615
Depreciation
As at 1 December 2024 | 10,372 | 42,353 | 52,725
Provided during the period | - | 1,973 | 1,973
As at 30 November 2025 | 10,372 | 44,326 | 54,698
Net Book Value
As at 30 November 2025 | - | 5,917 | 5,917
As at 1 December 2024 | - | - | -

Page 4
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Idea Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 191,630 |  | 26,705
Other debtors | 23,775 |  | 53,798
| 215,405 |  | 80,503

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 21,811 |  | 19,827
Bank loans and overdrafts | 9,004 |  | -
Other loans | 10,000 |  | -
Amounts owed to group undertakings | 173,670 |  | 288,623
Other creditors | 167,207 |  | 53,866
Taxation and social security | 76,408 |  | 55,239
| 458,100 |  | 417,555

7. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
Additions | 1,124 | 1,124
Balance at 30 November 2025 | 1,124 | 1,124

8. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
2,066 Ordinary Shares of £ 1.00 each | 2,066 |  | 2,066

9. Post Balance Sheet Events
The following significant events have occurred subsequent to 30 November 2025, which the directors consider relevant to an understanding of the company’s financial position and future prospects:
Company Voluntary Arrangement – Fimatix UK Limited
In January 2026, Fimatix UK Limited, the parent company of IGL, entered into a Company Voluntary Arrangement with HMRC and its other principal creditors. The CVA was considered feasible by the appointed Supervisors and provides for structured monthly repayments of £30,000 over a five-year period commencing from inception. As at March 2026, the company is in full compliance with its obligations under the CVA.
R&D Tax Credit Claim
Following the audit period, Fimatix UK Limited concluded its application through HMRC’s Late Claims process in respect of R&D tax credits. A significant credit has been recognised, which has materially reduced the group’s net liability to HMRC. This outcome materially improves the group’s net financial position relative to the position reported at 30 November 2025.
Trading performance of the Fimatix group
In the period from 1 July 2025 to 16 March 2026, the Fimatix group has generated total revenues of approximately £4 million, with a gross profit of approximately £3.0 million and net income of approximately £200,000 (after significant one-off costs). This demonstrates a material improvement in the group’s trading performance and cashflow generation capacity.
...CONTINUED
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Page 6
Idea Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
9. Post Balance Sheet Events - continued
Convertible Loan Notes
The directors have indicated their intention to convert the outstanding convertible loan notes held by Fimatix UK Limited into equity in the coming financial year. This conversion, if completed, is expected to further strengthen the group’s balance sheet position and facilitate the removal of the existing debenture for which IGL is a guarantor.
No other adjusting events
Save as disclosed above, the directors are not aware of any other matters or circumstances arising since 30 November 2025 that require adjustment to, or disclosure in, these financial statements.
10. Controlling Party
The controlling party is Fimatix UK Ltd.
The ultimate controlling party is Mr P J D M James.
11. Off-Balance Sheet Arrangements
At the year end, the company had non-cancellable operating lease commitments amounting to £22,906 (2024: £28,266). No non-cancellable operating lease commitments are due more than one year (2024: £7,000).
12. OTHER FINANCIAL COMMITMENTS
The company have provided a financial commitment in the form of a fixed and floating charge over its assets to secure loan notes issued by the parent, Fimaxtix UK Limited to a third party.
At the balance sheet date, the total amount of loan notes subscribed to were £1,000,000 (2024: £1,000,000).

| 2025 |  | 2024
| £ |  | £
Interest – Waived after the year end | 300,000 |  | 100,000
Total debt | 1,300,000 |  | 1,100,000

The company’s liability in respect of this charge is contingent upon the parent company’s obligations under the loan agreement. In the event that the parent company defaults on the loan, the lender may seek to enforce the charge over the company’s assets to recover the outstanding debt.
The charge does not constitute a direct liability of the company at this time, as it is contingent upon the parent company’s obligations. However, the company is exposed to financial risk if the parent company defaults on the loan note instruments
13. Audit Information
The auditor's report on the accounts of Idea Group Limited for the year ended 30 November 2025 was unqualified.
The auditors emphasised the following matter without qualifying their report:
We draw attention to the post balance sheet events disclosure (note 9) in the financial statements; this informs the reader that, since the year end, the companies parent entity has entered into a Company Voluntary Arrangement (CVA). As disclosed in note 2.2 (Going concern] the company’s going concern is interdependent with that of its parent and the agreement of the CVA has played an important role in the directors’ assessment that the company and its parent have the ability to remain a going concern. Our opinion is not modified with respect to this matter.
The auditor's report was signed by Christian Heeger BSc BFP FCA (Senior Statutory Auditor) for and on behalf of Galloways Accounting , Statutory Auditor.

Galloways Accounting Statutory Auditor 15 West Street Brighton East Sussex BN1 2RL

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