Informetis Europe Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09318672 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2020

for

Informetis Europe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Y Abe

Y Honda

T Tadano

SECRETARY:

REGISTERED OFFICE:

Future Business Centre

Kings Hedges Road

Cambridge

CB4 2HY

REGISTERED NUMBER:

09318672 (England and Wales)

ACCOUNTANTS:

Watermill Accounting Limited

Future Business Centre

Kings Hedges Road

Cambridge

Cambridgeshire

CB4 2HY

FIXED ASSETS

Tangible assets

4

11,153

10,765

CURRENT ASSETS

Debtors

5

62,592

67,458

Cash at bank

212,305

127,573

274,897

195,031

CREDITORS

Amounts falling due within one year

6

(15,839

)

(14,578

)

NET CURRENT ASSETS

259,058

180,453

TOTAL ASSETS LESS CURRENT LIABILITIES

270,211

191,218

CAPITAL AND RESERVES

Called up share capital

130,000

130,000

Retained earnings

140,211

61,218

270,211

191,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th November 2020 and were signed on its behalf by:

Y Abe - Director

1.	STATUTORY INFORMATION

Informetis Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company is that of research and experimental development of smart sensors and artificial intelligence.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. The directors do not consider there to be any key sources of estimation and uncertainty when applying the accounting policies.

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 reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provide in accordance with the stage of completion of the contract when all the following conditions are satisfied:

- the amount of turnover can be measure reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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:

Computer equipment - 30%

Office equipment - 20%

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.

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 transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2019

16,133

Additions

6,185

At 31st March 2020

22,318

DEPRECIATION

At 1st April 2019

5,368

Charge for year

5,797

At 31st March 2020

11,165

NET BOOK VALUE

At 31st March 2020

11,153

At 31st March 2019

10,765

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

51,452

54,600

Other debtors

11,140

12,858

62,592

67,458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

1,772

4,924

Taxation and social security

12,565

8,824

Other creditors

1,502

830

15,839

14,578