IRIS Accounts Production v23.3.0.418 06943654 Board of Directors 1.1.22 31.12.22 31.12.22 Dataforce Interact Limited is a wholly owned subsidiary of DF Property Portfolio Limited, whose parent company is Dataforce Interact Holdings Limited (formerly HOV Global Services Holdings Limited). ++ The Company is principally engaged in providing customer communications handling services, including database management; telephone, email and mail response handling; high volume mailing; and fulfilment for a wide range of clients. ++ The Company and group wide strategy is to create a business that is recognised for producing innovative and integrated marketing solutions from concept to delivery. ++ These objectives can be achieved through: ++ - providing a multi-channel communication centre that delivers first class service to our clients' customers; ++ - increasing the value that our clients create from their customers through our use of data analytics integrated with operational delivery; ++ - focusing our business on key market sectors so we can remain in touch with and deliver the special requirements of each sector; and ++ - creating long term relationships with our clients through the provision of proactive, innovative solutions to support their marketing activities. ++ The Company strategy is to grow organically by expanding its client base and extending the range of services provided to existing clients. This will be achieved through the effective provision of an integrated range of services by combining the contact centre capabilities with response handling services like mailing, scanning and fulfilment coupled with analytics and data processing solutions. ++ Key Performance Indicators ++ 2014 2013 £ £ ++ Turnover 3,883,305 4,767,488 ++ Cost of sales 2,705,939 3,081,039 ++ As a % of sales 69.68% 64.62% ++ Operating costs 778,905 894,971 ++ Operating results 398,461 966,714 ++ The Company had an average of 5 and 103 employees in the administration and production & sales department respectively during the year. true false true true false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure069436542021-12-31069436542022-12-31069436542022-01-012022-12-31069436542020-12-31069436542021-01-012021-12-31069436542021-12-3106943654ns16:EnglandWales2022-01-012022-12-3106943654ns15:PoundSterling2022-01-012022-12-3106943654ns11:Director12022-01-012022-12-3106943654ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3106943654ns11:FRS1022022-01-012022-12-3106943654ns11:Audited2022-01-012022-12-3106943654ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-01-012022-12-3106943654ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-01-012022-12-3106943654ns11:FullAccounts2022-01-012022-12-3106943654ns11:OrdinaryShareClass12022-01-012022-12-3106943654ns11:Director22022-01-012022-12-3106943654ns11:RegisteredOffice2022-01-012022-12-3106943654ns6:CurrentFinancialInstruments2022-12-3106943654ns6:CurrentFinancialInstruments2021-12-3106943654ns6:Non-currentFinancialInstruments2022-12-3106943654ns6:Non-currentFinancialInstruments2021-12-3106943654ns6:ShareCapital2022-12-3106943654ns6:ShareCapital2021-12-3106943654ns6:RetainedEarningsAccumulatedLosses2022-12-3106943654ns6:RetainedEarningsAccumulatedLosses2021-12-3106943654ns6:ShareCapital2020-12-3106943654ns6:RetainedEarningsAccumulatedLosses2020-12-3106943654ns6:RetainedEarningsAccumulatedLosses2021-01-012021-12-3106943654ns6:RetainedEarningsAccumulatedLosses2022-01-012022-12-3106943654ns6:LeaseholdImprovements2022-01-012022-12-3106943654ns6:PlantMachinery2022-01-012022-12-3106943654ns6:FurnitureFittings2022-01-012022-12-3106943654ns6:PlantEquipmentOtherAssetsUnderOperatingLeases2022-01-012022-12-3106943654ns6:PlantEquipmentOtherAssetsUnderOperatingLeases2021-01-012021-12-3106943654ns6:OwnedAssets2022-01-012022-12-3106943654ns6:OwnedAssets2021-01-012021-12-3106943654112022-01-012022-12-3106943654112021-01-012021-12-3106943654122022-01-012022-12-3106943654122021-01-012021-12-3106943654ns6:LeaseholdImprovements2021-12-3106943654ns6:PlantMachinery2021-12-3106943654ns6:FurnitureFittings2021-12-3106943654ns6:MotorVehicles2021-12-3106943654ns6:MotorVehicles2022-01-012022-12-3106943654ns6:LeaseholdImprovements2022-12-3106943654ns6:PlantMachinery2022-12-3106943654ns6:FurnitureFittings2022-12-3106943654ns6:MotorVehicles2022-12-3106943654ns6:LeaseholdImprovements2021-12-3106943654ns6:PlantMachinery2021-12-3106943654ns6:FurnitureFittings2021-12-3106943654ns6:MotorVehicles2021-12-3106943654ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3106943654ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3106943654ns6:Non-currentFinancialInstruments2022-01-012022-12-3106943654ns6:WithinOneYear2022-12-3106943654ns6:WithinOneYear2021-12-3106943654ns6:BetweenOneFiveYears2022-12-3106943654ns6:BetweenOneFiveYears2021-12-3106943654ns6:MoreThanFiveYears2022-12-3106943654ns6:MoreThanFiveYears2021-12-3106943654ns6:AllPeriods2022-12-3106943654ns6:AllPeriods2021-12-3106943654ns11:OrdinaryShareClass12022-12-3106943654ns6:RetainedEarningsAccumulatedLosses2021-12-310694365412022-01-012022-12-31
REGISTERED NUMBER: 06943654 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2022

for

DATAFORCE INTERACT LIMITED

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 7

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


DATAFORCE INTERACT LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: V Robu
J Chhaya



REGISTERED OFFICE: Baronsmede
The Avenue
Egham
Surrey
TW20 9AB



REGISTERED NUMBER: 06943654 (England and Wales)



SENIOR STATUTORY AUDITOR: Sanjeev Phadke



AUDITORS: Butler & Co LLP
Chartered Accountants
& Statutory Auditor
Third Floor
126-134 Baker Street
London
W1U 6UE

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Strategic Report
FOR THE YEAR ENDED 31 DECEMBER 2022

The directors present their strategic report for the year ended 31 December 2022.

Dataforce Interact Limited is a wholly owned subsidiary of DF Property Portfolio Limited, whose parent company is Dataforce Interact Holdings Limited (formerly HOV Global Services Holdings Limited).

The Company is principally engaged in providing customer communications handling services, including database management; telephone, email and mail response handling; high volume mailing; and fulfilment for a wide range of clients.

The Company and group wide strategy is to create a business that is recognised for producing innovative and integrated marketing solutions from concept to delivery.

These objectives can be achieved through:

- providing a multi-channel communication centre that delivers first class service to our clients' customers;

- increasing the value that our clients create from their customers through our use of data analytics integrated with operational delivery;

- focusing our business on key market sectors so we can remain in touch with and deliver the special requirements of each sector; and

- creating long term relationships with our clients through the provision of proactive, innovative solutions to support their marketing activities.


DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Strategic Report
FOR THE YEAR ENDED 31 DECEMBER 2022

REVIEW OF BUSINESS
The Company strategy is to grow organically by expanding its client base and extending the range of services provided to existing clients. This will be achieved through the effective provision of an integrated range of services by combining the contact centre capabilities with response handling services like mailing, scanning and fulfilment coupled with analytics and data processing solutions.

Key Performance Indicators
2022 2021
£    £   
Turnover 423,553 1,447,020
Cost of sales 545,134 705,823
As a % of sales 128.71% 48.75%
Operating costs 717,589 637,281
Operating results (671,261 ) 103,916



The Company had an average of 7, 3 and 6 employees in the administration, sales and Operations respectively during the year.

The current economic environment continues to be challenging and, as a result, cost and margin control are of paramount importance to both the Company and its clients. With a clear focus around delivering and then measuring the return on investment, both within the business and on behalf of its clients, we believe we are well placed to prosper in these challenging times.

In order to ensure that the business continues to deliver the highest quality of service, the Company took the decision to consolidate its two data centres in January - February 2013. This will have the benefit of enabling IT Infrastructure services to be delivered from one premise, facilitating further integration between contact centre and response handling services.

The Company has been trying to reduce overheads and improve its operating margins. The management teams are bedded in and making positive contributions in each area of our business.

However as with all businesses, the uncertainty in the economic environment has the potential to impact any management plan. The Company's performance is closely linked to the activity levels of its clients but with a wide and numerous client base, the Directors believe it is well placed to weather the economic conditions within reasonable boundaries.


DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Strategic Report
FOR THE YEAR ENDED 31 DECEMBER 2022

PRINCIPAL RISKS AND UNCERTAINTIES
Market Risks:

The Company continues to operate in a competitive market with constant pressure on margins. This risk is managed by continuing efforts to improve efficiency and reduce costs. The Company is dependent on relationship with key customers. The Company generally does not have long-term agreements with them. A number of contracts are due to be renewed on a short to medium term basis and there is a limited exposure to the potential loss of business at the time or each renewal. If any of the top customers significantly reduces the amount of business they place with the Company, the revenue and operating results could be adversely affected.

Competition:

The Company operates in a competitive market. If the Company does not continue to compete effectively by continuing to provide a high quality service the Company could lose clients and in consequence operating profits could be adversely affected. The Board has a number of initiatives to improve productivity. These initiatives focus on identifying more efficient ways of working either through process improvements or technological enhancements.

The business of the Company may be vulnerable to new and existing competitors and increased price competition and declining levels of contract renewals. Any of these factors could adversely affect the business and prospects of the Company.

The Company monitors the performance of the business through detailed monthly operational and financial reporting, with comparison to budgets and updated forecasts being routinely made. In addition the Group maintains regular reviews and dialogue with the management of each of the Group's businesses.

Employees

The Company is an equal opportunities employer and bases decisions on individual ability regardless of race, religion, gender, age or disability.

Consultation and communication with employees remains an important focal point and is carried out via a variety of methods including employee forums, usage of the intranet, emails and team briefings.

Over the year, the Company has invested in management development and succession planning to ensure retention and development of key individuals and to further progress the opportunities for the future.

Biannual appraisals are undertaken to ensure employees know how they are performing and how performance can be improved

All Company activities support the regulatory environment in which it operates, including treating the customer fairly.

Cashflow

The Company monitors cash flow as a part of its normal activities. Cash positions are monitored daily and forecasts are discussed with the Board on a monthly basis to ensure that sufficient resources are available to support business growth.

Economic downturn and going concern

The Company monitors client activity forecasts on a monthly basis and therefore has strong visibility of forward revenues for a 3 to 6 month period. As a result, the Board is able to react within sufficient time to reset the cost base appropriately.


DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Strategic Report
FOR THE YEAR ENDED 31 DECEMBER 2022

The Group monitors the performance of each of its businesses through detailed monthly operational and financial reporting, with comparisons to budgets and updated forecasts being routinely made. In addition the Group maintains regular reviews and dialogue with the management of each of the Group's businesses.

At board level, the most important key performance measures are:

- underlying operating profit, calculated on continuing operations excluding exceptional items and one off charges; and

- gross margin, calculated on gross profit as a percentage of revenue.

As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. After making enquiries to the Group, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis, in preparing this annual report and financial statements.

ON BEHALF OF THE BOARD:





V Robu - Director


13 October 2023

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Report of the Directors
FOR THE YEAR ENDED 31 DECEMBER 2022

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

DIVIDENDS
The Directors have not recommended a dividend for the year ended 31 December 2021.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

V Robu
J Chhaya

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Butler & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





V Robu - Director


13 October 2023

Report of the Independent Auditors to the Members of
Dataforce Interact Limited

Opinion
We have audited the financial statements of Dataforce Interact Limited (the 'company') for the year ended 31 December 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2022 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern
We draw attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £745,215 during the year ended 31 December 2022 . As stated in Note 2 ,these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.However, the ultimate parent company has provided assurances that it would continue to support the entity as a going concern and meet its liabilities as they fall due as stated in "Going concern policy note (note 2) of the financial statements. The audit opinion is not modified in respect of this matter.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of the report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Dataforce Interact Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

- Enquiries of management, concerning the company's policies and procedures relating to:
* Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance
* Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.

- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in.

- Performed analytical review procedures to identify any unusual transactions or relationships
- Tested journal entries to identify any unusual transactions
- Reviewed and tested material accounting estimates for reasonableness
- Reviewed for appropriateness and reasonableness of accounting policies used.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Dataforce Interact Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Sanjeev Phadke (Senior Statutory Auditor)
for and on behalf of Butler & Co LLP
Chartered Accountants
& Statutory Auditor
Third Floor
126-134 Baker Street
London
W1U 6UE

13 October 2023

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Statement of Comprehensive
Income
FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
Notes £    £   

TURNOVER 3 423,553 1,447,020

Cost of sales 521,259 705,823
GROSS (LOSS)/PROFIT (97,706 ) 741,197

Administrative expenses 741,464 637,281
(839,170 ) 103,916

Other operating income 167,909 -
OPERATING (LOSS)/PROFIT 6 (671,261 ) 103,916


Interest payable and similar expenses 8 73,955 64,190
(LOSS)/PROFIT BEFORE TAXATION (745,216 ) 39,726

Tax on (loss)/profit 9 - -
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(745,216

)

39,726

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(745,216

)

39,726

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Balance Sheet
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - 10,489

CURRENT ASSETS
Debtors 11 8,774,303 8,426,832
Cash at bank and in hand 478 2,375
8,774,781 8,429,207
CREDITORS
Amounts falling due within one year 12 1,050,250 900,051
NET CURRENT ASSETS 7,724,531 7,529,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,724,531

7,539,645

CREDITORS
Amounts falling due after more than one
year

13

4,182,032

3,251,930
NET ASSETS 3,542,499 4,287,715

CAPITAL AND RESERVES
Called up share capital 15 1 1
Retained earnings 16 3,542,498 4,287,714
SHAREHOLDERS' FUNDS 3,542,499 4,287,715

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





V Robu - Director


DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Statement of Changes in Equity
FOR THE YEAR ENDED 31 DECEMBER 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2021 1 4,247,988 4,247,989

Changes in equity
Total comprehensive income - 39,726 39,726
Balance at 31 December 2021 1 4,287,714 4,287,715

Changes in equity
Total comprehensive income - (745,216 ) (745,216 )
Balance at 31 December 2022 1 3,542,498 3,542,499

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Cash Flow Statement
FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 72,058 65,609
Interest paid (73,955 ) (64,190 )
Net cash from operating activities (1,897 ) 1,419

(Decrease)/increase in cash and cash equivalents (1,897 ) 1,419
Cash and cash equivalents at
beginning of year

2

2,375

956

Cash and cash equivalents at end of
year

2

478

2,375

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2022 2021
£    £   
(Loss)/profit before taxation (745,216 ) 39,726
Depreciation charges 10,489 66,516
Group balances 652,657 351,434
Finance costs 73,955 64,190
(8,115 ) 521,866
(Increase)/decrease in trade and other debtors (70,026 ) 233,927
Increase/(decrease) in trade and other creditors 150,199 (690,184 )
Cash generated from operations 72,058 65,609

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 478 2,375
Year ended 31 December 2021
31/12/21 1/1/21
£    £   
Cash and cash equivalents 2,375 956


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/22 Cash flow At 31/12/22
£    £    £   
Net cash
Cash at bank and in hand 2,375 (1,897 ) 478
2,375 (1,897 ) 478
Total 2,375 (1,897 ) 478

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Dataforce Interact 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a consistent basis in accordance with applicable Accounting Standards in the United Kingdom, and in compliance with the Companies Act 2006. A summary of the principal accounting policies is set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised over the period of each contract on a time apportionment basis, having regard, where appropriate, to the activity levels required by the contractual terms. Turnover relates solely to services provided to clients during the period and is stated net of value added tax. No credit is taken to the profit and loss account in respect of receipts for services to be rendered in subsequent accounting periods. Amounts received for this are credits to deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the lease term
Plant and machinery - 4 - 8 years
Office equipment, fixtures & fittings - 3 - 10 years

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Operating leases

Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term, except where the period to the review date on which the rent is first expected to be adjusted to the prevailing market rate is shorter than the full lease term, in which case the shorter period is used.

Finance lease

Assets held under finance leases, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the lease to produce a constant rate of charge on the balance sheet of capital repayments outstanding. Hire purchase transactions are dealt with similarly, except that assets are depreciated over their useful economic lives.

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.

Going concern
During the year ended 31 December 2022, the company incurred a net loss of £745,216 (2021: - £39,726)
The turnover of the company has also decreased from £1,447,020 (2021) to £423,553 (2022) The main creditors of the company are the group companies which owed £6,146,497 (2021: £3,251,930) as at year end. The parent company has confirmed that it will continue to support the company and the group companies will not seek repayment from the company until the company is in position to repay. However, ultimate parent company is dependant on the continued financial support from the ultimate controlling party.

These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. However, the directors have received confirmation from the ultimate parent company that they will continue to enable the company to meet its liabilities as they fall due. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements.

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. TURNOVER

Segmental analysis

a) By class of business2022 2021
££
Customer communication handling
services


423,553

1,447,020
b) By geographical area
The Company's turnover, by destination, was all within the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 716,696 508,140
Social security costs 81,039 105,118
Other pension costs 35,298 31,540
833,033 644,798

The average number of employees during the year was as follows:
2022 2021

Support 7 7
Sales 3 5
Operations 6 35
16 47

5. DIRECTORS' EMOLUMENTS
2022 2021
£    £   
Directors' remuneration - -

None of the Directors received any remuneration for their qualifying services as Directors in the current or preceding financial year.

6. OPERATING (LOSS)/PROFIT

The operating loss (2021 - operating profit) is stated after charging:

2022 2021
£    £   
Hire of plant and machinery 16,198 26,973
Depreciation - owned assets 10,489 66,516
Operating lease rentals – equipment - 12,485
Operating lease rentals – land & buildings 222,463 222,463

7. AUDITORS' REMUNERATION
2022 2021
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

13,457

16,850

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. AUDITORS' REMUNERATION - continued

The audit remuneration of £13,457 (2021: £15,000) excluding fees (2021: £1,850) for non- audit services.

8. INTEREST PAYABLE AND SIMILAR EXPENSES

The interest payable in respect of lease and loan interest charged to profit and loss accounts is as follows:

Finance lease and hire purchase agreements: £2,278 (2021: £5,794), loan interest is £79,000 (2021: £48,110) and other interest is -£5044 (2021: £16,079).

9. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£    £   
(Loss)/profit before tax (745,216 ) 39,726
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 19% (2021 - 19%)

(141,591

)

7,548

Effects of:
Expenses not deductible for tax purposes 107 127
Utilisation of tax losses - (15,596 )
Depreciation in excess of capital allowance 1,993 12,638
Group relief 139,491 (4,717 )


Total tax charge - -

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

10. TANGIBLE FIXED ASSETS
Office
Improvements equipment, Assets in
to Plant and fixtures course of
property machinery & fittings constructions Totals
£    £    £    £    £   
COST
At 1 January 2022
and 31 December 2022 11,331 127,128 742,172 222,664 1,103,295
DEPRECIATION
At 1 January 2022 11,331 127,128 731,683 222,664 1,092,806
Charge for year - - 10,489 - 10,489
At 31 December 2022 11,331 127,128 742,172 222,664 1,103,295
NET BOOK VALUE
At 31 December 2022 - - - - -
At 31 December 2021 - - 10,489 - 10,489

11. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 125,210 76,901
Other debtors 4,808 4,833
Prepayments and accrued income 60,453 38,711
190,471 120,445

Amounts falling due after more than one year:
Amounts owed by group undertakings 8,583,832 8,306,387

Aggregate amounts 8,774,303 8,426,832

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 286,572 227,777
Social security and other taxes 43,295 26,503
VAT 22,638 60,409
Other creditors 314,250 259,649
Pension 6,356 4,940
Accruals and deferred income 377,139 320,773
1,050,250 900,051

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Amounts owed to group undertakings 4,182,032 3,251,930

Amounts owed to group undertakings is made up of the principal outstanding on a revolving debt facility with a group company, DFG2 LLC of £335,734 (2021: £342,950) which is reassigned from RC GPM LLC (subsidiary of Rustic Canyon LLC) to DFG2, LLC as on 1 December 2012. The loan is repayable on demand and has an interest rate of 12%. The interest payable in respect of this loan charged to profit and loss account is £48,205 (2021: £48,111)

There was a fixed and floating charge over the undertaking and all property and assets and future in relation to all money due from Dataforce Interact Limited, held by DFG2 LLC. This charge was satisfied on 4th August 2021.

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 239,305 239,305
Between one and five years 896,321 906,692
In more than five years 278,078 507,012
1,413,704 1,653,009

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary shares £1 1 1

16. RESERVES
Retained
earnings
£   

At 1 January 2022 4,287,714
Deficit for the year (745,216 )
At 31 December 2022 3,542,498

17. PARENT AND ULTIMATE PARENT COMPANY

The company's parent is DF Property Portfolio Limited, a company registered at Baronsmede, The Avenue, Egham, TW20 9AB whose parent company is Dataforce Interact Holdings Limited, a company registered in England & Wales.

The Company's ultimate parent undertaking, Exela Technologies, Inc., incorporated in the USA, whose principal place of business is at 2701 E Grauwyler Road, Irving, Texas 75061 includes the Company in its consolidated financial statements. The group accounts of Exela Technologies, Inc. prepared in accordance with US GAAP can be obtained from this address or www.sec.gov.

DATAFORCE INTERACT LIMITED (REGISTERED NUMBER: 06943654)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

18. POST BALANCE SHEET EVENTS

On 29th September,2023. a Deed of release was executed between DFG2 LLC (Lender) and the company whereby the lender agreed to release the company from all its liabilities, covenants & obligations to the lender from the loan agreement dated 15/09/2009 and subsequent amendments. As at 31/12/22, the amount so released stood at £335,734