Registration number: 03365223

Novumip Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 11

Novumip Ltd

Company Information

Director

Mr Christophe Jean-Pierre Georges Marchisio

Registered office

27/28 Eastcastle Street London England W1W 8DH

Auditors

Manningtons Victoria House The Moor Hawkhurst Cranbrook East Sussex TN18 4NR

Novumip Ltd

(Registration number: 03365223)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	1,214,951
Tangible assets	5	-	623,712
Investments	6	-	10,583,794
		-	12,422,457
Current assets
Debtors	7	491,796	853,004
Cash at bank and in hand		93,117	236,144
		584,913	1,089,148
Creditors: Amounts falling due within one year	8	(2,417,975)	(15,662,157)
Net current liabilities		(1,833,062)	(14,573,009)
Net liabilities		(1,833,062)	(2,150,552)
Capital and reserves
Called up share capital		1	1
Retained earnings		(1,833,063)	(2,150,553)
Shareholders' deficit		(1,833,062)	(2,150,552)

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 September 2026
 

......................................... Mr Christophe Jean-Pierre Georges Marchisio Director

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27/28 Eastcastle Street
London
W1W 8DH
England

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Parent company

The immediate parent company is Novagraaf IP UK Ltd, incorporated in England and Wales, and the ultimate parent company is Questel Unite SAS, incorporated in France. Questel Unite SAS is the smallest and largest group
into which these financial statements are consolidated. A copy of the consolidated financial statements can be requested from the registered office of Questel Unite SAS, 23 Rue D'Antin, 75002, Paris.

Summary of disclosure exemptions

The Company has taken advantage of the exemption in paragraph 33.1A of FRS 102 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.

Going concern

For the year ended 31 December 2025, the Company made a profit of £317,490 (2024: loss of £1,101,288) and had net current liabilities of £1,833,062 (2024: £14,573,009). The company is dependent for its working capital on funds provided to it by its ultimate parent Questel SAS. The company's ultimate parent company Questel SAS has committed that it will provide financial and other support to the company for at least 12 months from the date of these financial statements. On this basis, and on the assessment of the company's financial position, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 16 September 2026 was Megan Parr ACA, who signed for and on behalf of Manningtons.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of IP software services and inter-company recharges in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Other property, plant & equipment	4 years straight line

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 at the transaction price, 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.

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 at the transaction price.

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.

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Basic financial instruments 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.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 8).

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	3,105,935	3,105,935
At 31 December 2025	3,105,935	3,105,935
Amortisation
At 1 January 2025	1,890,984	1,890,984
Amortisation charge	404,983	404,983
Impairment	809,968	809,968
At 31 December 2025	3,105,935	3,105,935
Carrying amount
At 31 December 2025	-	-
At 31 December 2024	1,214,951	1,214,951

During the year the goodwill was fully impaired due to the loss of the underlying contract from which the asset derived its value.

Novumip Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

5	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 January 2025	2,947,157	2,947,157
Additions	65,961	65,961
Disposals	(121,358)	(121,358)
At 31 December 2025	2,891,760	2,891,760
Depreciation
At 1 January 2025	2,323,445	2,323,445
Charge for the year	361,586	361,586
Impairment	206,729	206,729
At 31 December 2025	2,891,760	2,891,760
Carrying amount
At 31 December 2025	-	-
At 31 December 2024	623,712	623,712

During the year the tangible fixed assets were fully impaired due to the loss of the underlying contract from which the assets derived their value.

6	Investments

	2025 £	2024 £
Investments in subsidiaries	-	10,583,794