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

REGISTERED NUMBER: 09318672 (England and Wales)

Informetis Europe Limited

Unaudited Financial Statements for the Year Ended 31st March 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Y Abe

Y Honda

T Tadano

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

Intangible assets

4

-

95,755

Tangible assets

5

-

23,301

-

119,056

CURRENT ASSETS

Stocks

6

3,362

41,605

Debtors

7

46,883

82,428

Cash at bank

8

242,894

53,580

293,139

177,613

CREDITORS

Amounts falling due within one year

9

(915,990

)

(558,095

)

NET CURRENT LIABILITIES

(622,851

)

(380,482

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(622,851

)

(261,426

)

CAPITAL AND RESERVES

Called up share capital

11

130,000

130,000

Retained earnings

12

(752,851

)

(391,426

)

SHAREHOLDERS' FUNDS

(622,851

)

(261,426

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 19th October 2022 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 providing Home Energy Management and Healthcare solutions using smart sensors and artificial intelligence. In addition, the company also provides Research & Development services to internal and external customers.

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.

The comparative figures contained in the financial statements, notes & disclosures for the previous year ended March 31, 2021 are unaudited.

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 provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

- the amount of turnover can be measured 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.

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.

Development costs will be amortised evenly once their estimated useful life commences.

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.

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 year 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 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 year 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.

Research and development tax credits are estimated and claimed each year using the HMRC rules and guidelines applicable. Refunds approved by HMRC are recognised in the income statement in the period in which they are actually received due to the uncertainties involved.

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 11 (2021 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st April 2021

95,755

Additions

200,113

At 31st March 2022

295,868

AMORTISATION

Impairments

295,868

At 31st March 2022

295,868

NET BOOK VALUE

At 31st March 2022

-

At 31st March 2021

95,755

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2021

42,479

Additions

4,310

At 31st March 2022

46,789

DEPRECIATION

At 1st April 2021

19,178

Charge for year

10,004

Impairments

17,607

At 31st March 2022

46,789

NET BOOK VALUE

At 31st March 2022

-

At 31st March 2021

23,301

6.

STOCKS

31.3.22

31.3.21

£

£

Stocks

3,362

41,605

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

34,783

51,306

Other debtors

5,749

5,749

VAT

3,910

9,339

Prepayments

2,441

2,893

Accrued income

-

13,141

46,883

82,428

8.	CASH AT BANK

31.3.22

31.3.21

£

£

Bank deposit account

126,282

21,238

Bank account no. 1

116,612

32,342

242,894

53,580

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

7,031

10,399

Taxation and social security

21,531

27,115

Group Loan & other creditors

887,428

520,581

915,990

558,095

10.	FINANCIAL INSTRUMENTS

31.3.21£

31.3.20£

Financial Assets

Financial assets measured at amortised cost

79,535

61,133

Financial Liabilities

Financial liabilities measured at amortised cost

558,095

15,839

Financial assets measured at amortised cost comprise of trade debtors, other debtors and amounts owed by group undertakings.

Financial liabilities measured at amortised cost comprise trade creditors, accruals, amounts owed to group undertakings and other creditors.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

130,000

Ordinary shares

£1

130,000

130,000

The Company has one class of ordinary shares which carry no right of fixed income and all shares have full voting rights.

12.

RESERVES

The retained earnings reserve represents the total distributable profits of the Company.

13.	RELATED PARTY DISCLOSURES

During the year, the Company has related party transactions with its holding company. However, the

Company has taken advantage of exemptions in FRS 102 para 33.1A from the requirement to disclose

these information on the basis that the Company is a wholly owned subsidiary.

14.	ULTIMATE CONTROLLING PARTY

The Company is controlled by the ultimate parent company, Informetis Co. Ltd, a company headquartered at Round Cross Mita 4F, 5-5-1 Shiba, Minato-Ku, Tokyo, Japan 108-0014.