Integrated Graphene Holding Limited Filleted accounts for Companies House (small and micro)

INTEGRATED GRAPHENE HOLDING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC613131

Integrated Graphene Holding Limited

Filleted Unaudited Financial Statements

31 December 2023

Integrated Graphene Holding Limited

Statement of Financial Position

31 December 2023

	2023	2022
Note	£	£

Fixed Assets

Investments	5	3,514	3,514

Current Assets

Debtors	6	9,924,539	6,296,879
Cash at bank and in hand		695,055	4,434,044
		-------------	-------------
		10,619,594	10,730,923

Creditors: amounts falling due within one year	7	358,694	60,261
		-------------	-------------
Net Current Assets		10,260,900	10,670,662
		-------------	-------------
Total Assets Less Current Liabilities		10,264,414	10,674,176
		-------------	-------------
Net Assets		10,264,414	10,674,176
		-------------	-------------

Capital and Reserves

Called up share capital	26,230	26,230
Share premium account	11,036,287	11,036,287
Profit and loss account	( 798,103)	( 388,341)
	-------------	-------------
Shareholders Funds	10,264,414	10,674,176
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Integrated Graphene Holding Limited

Statement of Financial Position (continued)

31 December 2023

These financial statements were approved by the board of directors and authorised for issue on 1 March 2024 , and are signed on behalf of the board by:

Mr J C Granier

Director

Company registration number: SC613131

Integrated Graphene Holding Limited

Notes to the Financial Statements

Year Ended 31 December 2023

1. General Information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Euro House, Wellgreen Place, Stirling, FK8 2DJ, Scotland.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

The company has made a loss for the year of £409,762 (2022 - £225,026). Upon review of the company and group companies Integrated Graphene Services Limited and Integrated Graphene Limited, the Directors continue to adopt going concern basis and are confident that the company remains a going concern based on the financial forecasts and expected investment in 2024.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2023 and 31 December 2023	3,514
	-------
Impairment
At 1 January 2023 and 31 December 2023	–
	-------

Carrying amount
At 31 December 2023	3,514
	-------
At 31 December 2022	3,514
	-------

6. Debtors

	2023	2022
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	9,908,589	6,287,548
Other debtors	15,950	9,331
	------------	------------
	9,924,539	6,296,879
	------------	------------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	49,302	11,000
Social security and other taxes	237,451	16,950
Other creditors	71,941	32,311
	---------	--------
	358,694	60,261
	---------	--------

8. Related Party Transactions

Included within debtors is a balance of £130,250 (2022 - £130,250) due to Integrated Graphene Services Limited, a company which is a wholly owned subsidiary. Included within debtors is a balance of £10,038,839 (2022 - £6,417,798) due from Integrated Graphene Limited, a company which is a wholly owned subsidiary. Net advances of £3,010,349 were made to Integrated Graphene during the year. The balances are unsecured, interest free and have no fixed terms of repayment.