One Iota Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07118675 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019

FOR

ONE IOTA LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C R Brooks

SECRETARY:

REGISTERED OFFICE:

6 St Georges Court

Dairyhouse Lane

Altrincham

Cheshire

WA14 5UA

REGISTERED NUMBER:

07118675 (England and Wales)

ACCOUNTANTS:

E M Accountancy Limited

6 St Georges Court

Dairyhouse Lane

Altrincham

WA14 5UA

FIXED ASSETS

Intangible assets

4

274,366

1,039,000

Tangible assets

5

35,348

37,007

309,714

1,076,007

CURRENT ASSETS

Stocks

12,707

12,707

Debtors

5,549,831

2,840,312

Cash at bank

407,545

982,522

5,970,083

3,835,541

CREDITORS

Amounts falling due within one year

990,188

1,163,587

NET CURRENT ASSETS

4,979,895

2,671,954

TOTAL ASSETS LESS CURRENT LIABILITIES

5,289,609

3,747,961

PROVISIONS FOR LIABILITIES

46,253

153,344

NET ASSETS

5,243,356

3,594,617

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

496,000

496,000

Retained earnings

4,737,356

3,088,617

5,243,356

3,594,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 21 December 2020 and were signed by:

C R Brooks - Director

1.	STATUTORY INFORMATION

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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Development costs are being amortised evenly over their estimated useful life of five years.

Trademarks are being amortised evenly over their estimated useful life of five years.

Database is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 (2018 - 43 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2018

2,461,138

Additions

149,084

Impairments

(574,000

)

At 31 December 2019

2,036,222

AMORTISATION

At 1 October 2018

1,422,138

Amortisation for period

339,718

At 31 December 2019

1,761,856

NET BOOK VALUE

At 31 December 2019

274,366

At 30 September 2018

1,039,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2018

163,476

Additions

26,483

At 31 December 2019

189,959

DEPRECIATION

At 1 October 2018

126,469

Charge for period

28,142

At 31 December 2019

154,611

NET BOOK VALUE

At 31 December 2019

35,348

At 30 September 2018

37,007

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

10,000

16,000

Between one and five years

1,000

11,000

11,000

27,000

7.	RELATED PARTY DISCLOSURES

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.

8.	POST BALANCE SHEET EVENTS

On the 30th June 2020 the share premium account of £496k was cancelled and credited to retained earnings.

9.	ULTIMATE CONTROLLING PARTY

At the balance sheet date the immediate parent undertaking of the company was Sanderson Multi-Channel Retail Solutions Limited. The ultimate parent company was Aptean Limited which is formed within the group of (and under common control with) Aptean Inc. and ultimately controlled by funds managed and advised by TA Associates and Vista Equity Partners.

On the 20th June 2020 C R Brooks acquired the entire issued share capital of the company, accordingly the company is now under the control of its director.