ACCOUNTS - Final Accounts preparation

IMETA HOLDINGS LTD - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseThe principal activity of the company during the year was that of a holding company.false2016-01-01 07995485 2016-01-01 2016-12-31 07995485 2016-12-31 07995485 2015-12-31 07995485 c:Director1 2016-01-01 2016-12-31 07995485 c:Director2 2016-01-01 2016-12-31 07995485 c:RegisteredOffice 2016-01-01 2016-12-31 07995485 d:CurrentFinancialInstruments 2016-12-31 07995485 d:CurrentFinancialInstruments 2015-12-31 07995485 d:Non-currentFinancialInstruments 2016-12-31 07995485 d:Non-currentFinancialInstruments 2015-12-31 07995485 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 07995485 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 07995485 d:ShareCapital 2016-12-31 07995485 d:ShareCapital 2015-12-31 07995485 d:SharePremium 2016-12-31 07995485 d:SharePremium 2015-12-31 07995485 d:RetainedEarningsAccumulatedLosses 2016-12-31 07995485 d:RetainedEarningsAccumulatedLosses 2015-12-31 07995485 c:FRS102 2016-01-01 2016-12-31 07995485 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 07995485 c:FullAccounts 2016-01-01 2016-12-31 07995485 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP

Company registration number 07995485

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2016

	IMETA HOLDINGS LTD


IMETA HOLDINGS LTD

COMPANY INFORMATION

Directors	Mr B H Marsh
	Mr N D W Canfor


Registered number	07995485


Registered office	Gamma House
	Enterprise Road
	Southampton Science Park
	Southampton
	SO16 7NS


Accountants	Menzies LLP
	Chartered Accountants
	Wentworth House
	4400 Parkway
	Whiteley
	Hampshire
	PO15 7FJ


IMETA HOLDINGS LTD

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


IMETA HOLDINGS LTD REGISTERED NUMBER:07995485

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

Fixed assets
Investments	4		2,097,841		2,097,841
			2,097,841		2,097,841
Current assets
Cash at bank and in hand		46,427		3,303
		46,427		3,303
Creditors: amounts falling due within one year	5	(1,011,799)		(1,069,734)
Net current liabilities			(965,372)		(1,066,431)
Total assets less current liabilities			1,132,469		1,031,410

Net assets			1,132,469		1,031,410

Capital and reserves
Called up share capital	249	249
Share premium account	262,062	262,062
Profit and loss account	870,158	769,099
	1,132,469	1,031,410

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

Mr B H Marsh

Director

Date: 18 September 2017

The notes on pages 3 to 5 form part of these financial statements.

Page 1


IMETA HOLDINGS LTD REGISTERED NUMBER:07995485

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2016

Page 2


IMETA HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
iMeta Holdings Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income statement.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3


IMETA HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.6

Finance costs

Finance costs are charged to the Income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.8

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the Income statement over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to Income statement over the remaining vesting period.
Where equity instruments are granted to persons other than employees, the Income statement is charged with fair value of goods and services received.

Employees

The average monthly number of employees, including directors, during the year was 0 (2015 - 0).

Page 4


IMETA HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2016	2,097,841
	At 31 December 2016	2,097,841

	Net book value
	At 31 December 2016	2,097,841
	At 31 December 2015	2,097,841

5.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Amounts owed to group undertakings	966,709	1,069,084
Other creditors	44,440	-
Accruals and deferred income	650	650
	1,011,799	1,069,734

6.	Related party transactions
	During the year the directors loaned amounts to the company totalling £133,320. Elements of these loans were withdrawn through the year resulting in amounts due to the directors at the balance sheet date totalling £44,440.

7.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 5