Company Registration No. 13340000 (England and Wales)
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021
PAGES FOR FILING WITH REGISTRAR
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
COMPANY INFORMATION
Director
Mr E Lloyd-Baker
Company number
13340000
Registered office
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP
Accountants
Aspen Waite South West
21 Bampton Street
Tiverton
Devon
EX16 6AA
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2021
31 October 2021
- 1 -
2021
Notes
£
£
Fixed assets
Investments
3
3,829,551
Current assets
Debtors
4
1,000
Creditors: amounts falling due within one year
5
(1,408,151)
Net current liabilities
(1,407,151)
Total assets less current liabilities
2,422,400
Creditors: amounts falling due after more than one year
7
(2,446,791)
Net liabilities
(24,391)
Capital and reserves
Called up share capital
8
1,000
Profit and loss reserves
(25,391)
Total equity
(24,391)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 24 July 2022
Mr E Lloyd-Baker
Director
Company Registration No. 13340000
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2021
- 2 -
1
Accounting policies
Company information
I3 Group Solutions Limited is a
private
company
limited by shares
incorporated in
England and Wales within the United Kingdom
.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 0
.
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2021
- 3 -
3
Fixed asset investments
2021
£
Investments
3,829,551
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 16 April 2021
-
Additions
3,829,551
At 31 October 2021
3,829,551
Carrying amount
At 31 October 2021
3,829,551
4
Debtors
2021
Amounts falling due within one year:
£
Unpaid share capital
1,000
5
Creditors: amounts falling due within one year
2021
£
Amounts due to group undertakings
1,006,651
Other creditors
400,000
Accruals and deferred income
1,500
1,408,151
6
Secured loan
Included within other creditors due in over one year, is a loan from Seismic Venture Partners Limited, secured by fixed and floating charges over the assets of both Testworks Group Limited and Adept Automation Limited, which are wholly owned subsidiaries of i3 Group Solutions Limited
I3 GROUP SOLUTIONS LIMITED
FORMERLY KNOWN AS SEISMIC SUCCESSION ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2021
- 4 -
7
Creditors: amounts falling due after more than one year
2021
£
Amounts due to group undertakings
1,622,900
Other creditors
823,891
2,446,791
Amounts due to group undertakings is deferred consideration for the purchase of the shareholdings in the subsidiaries.
8
Called up share capital
2021
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1000 each
1,000