REGISTERED NUMBER: 08185313 (England and Wales)

J2 INTERACTIVE SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L J La Rocca

M J Yalon

REGISTERED OFFICE:

Station House

Connaught Road

Brookwood

WOKING

Surrey

GU24 0ER

REGISTERED NUMBER:

08185313 (England and Wales)

AUDITOR:

Shaw Gibbs Audit Ltd

264 Banbury Road

Oxford

Oxfordshire

OX2 7DY

FIXED ASSETS

Tangible assets

4

11,044

7,105

CURRENT ASSETS

Debtors

5

377,157

96,128

Cash at bank

266,613

149,813

643,770

245,941

CREDITORS

Amounts falling due within one year

6

(918,694

)

(1,057,879

)

NET CURRENT LIABILITIES

(274,924

)

(811,938

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(263,880

)

(804,833

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(263,980

)

(804,933

)

SHAREHOLDERS' FUNDS

(263,880

)

(804,833

)

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 28 September 2023 and were signed on its behalf by:

L J La Rocca - Director

1.	STATUTORY INFORMATION

J2 Interactive Solutions Ltd 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.

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 financial statements have been prepared on the going concern basis despite the fact that the company's liabilities exceeded its assets by £263,880 at the balance sheet date. The directors have reviewed the position and prospects of the company and concluded that future trading is expected to improve the company's position. They have also received confirmation from the parent that the company will receive the necessary ongoing support to enable it to continue as a going concern during this period of recovery, and specifically for a period of at least 12 months from the date of this report.

Turnover

Turnover represents the net invoiced sales of services, together with adjustments in respect of partially completed work not yet invoiced.

Tangible fixed assets

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

Computer equipment

-

50% on cost

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

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.

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 year was 15 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2022

28,124

Additions

13,438

At 31 December 2022

41,562

DEPRECIATION

At 1 January 2022

21,019

Charge for year

9,499

At 31 December 2022

30,518

NET BOOK VALUE

At 31 December 2022

11,044

At 31 December 2021

7,105

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

224,078

76,095

Other debtors

911

911

Deferred tax

89,750

-

Prepayments and accrued income

62,418

19,122

377,157

96,128

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

14,063

941

Amounts owed to group undertakings

716,007

876,527

Social security and other taxes

68,712

65,824

VAT

82,914

106,587

Other creditors

3,818

-

Accrued expenses

33,180

8,000

918,694

1,057,879

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2022

(804,933

)

Profit for the year

540,953

At 31 December 2022

(263,980

)

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Lance Redman (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs Audit Ltd

Included in the audit report was the following paragraph with respect to going concern:-

"We draw attention to note 2 in the financial statements, which states that although the accounts have been prepared on the basis that the company will continue as a going concern for the foreseeable future, this presumption depends on the continuing support of the parent company, referred to in note 13, to enable the company to meet its liabilities as they fall due. This indicates that a material uncertainty exists which may cast significant doubt on the company's ability to continue as a going concern. The matter has been appropriately disclosed and our opinion is not modified in respect of this matter."

10.	RELATED PARTY DISCLOSURES

During the year, the company made sales totalling £410,731 to its parent company, J2 Interactive LLC (2021: £453,384). During the year, expenses totalling £82,076 (2021:nil) were recharged to the company from J2 Interactive LLC and expenses totalling £88,519 (2021 nil) were recharged to the company from J2 Interactive DMCC.

At the year end, the company owed its parent company, J2 Interactive LLC, £627,488 (2021:£876,527 ) and the company owed £88,519 (2021: nil) to a fellow subsidiary J2 Interactive DMCC.

11.	ULTIMATE CONTROLLING PARTY

The company is 100% owned by J2 Interactive LLC, a company incorporated in America and based in Charlestown, Massachusetts, USA.