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REGISTERED NUMBER: 05160590 (England and Wales)















ISC RESEARCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ISC RESEARCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: N D Brummitt
A J Childs
C G Pierrepont
L J Webb





SECRETARY:





REGISTERED OFFICE: 2/3 The Old Barn
Wicklesham Lodge Farm
Faringdon
Wiltshire
SN7 7PN





REGISTERED NUMBER: 05160590 (England and Wales)





ACCOUNTANTS: William Hinton Limited
Chartered Accountants
Ross House
The Square
Stow On The Wold
Gloucestershire
GL54 1AF

ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 122,921 125,196
Tangible assets 5 33,852 18,032
Investments 6 100 100
156,873 143,328

CURRENT ASSETS
Debtors 7 696,586 507,938
Investments 8 - 38,017
Cash at bank and in hand 831,034 582,403
1,527,620 1,128,358
CREDITORS
Amounts falling due within one year 9 1,608,435 1,208,721
NET CURRENT LIABILITIES (80,815 ) (80,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,058

62,965

PROVISIONS FOR LIABILITIES 30,698 30,698
NET ASSETS 45,360 32,267

CAPITAL AND RESERVES
Called up share capital 190 190
Retained earnings 45,170 32,077
45,360 32,267

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

BALANCE SHEET - continued
30 JUNE 2023


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 1 December 2023 and were signed on its behalf by:





L J Webb - Director


ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

ISC Research 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from licences and subscriptions is deferred and released to revenue pro-rata to the length of the agreement. Licences have a typical duration of twelve months.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Data Access Point is being amortised evenly over its estimated useful life of 5 years.

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

Equipment 33% straight line
Website 20%/33% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.


ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 31 (2022 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022 558,541
Additions 54,744
At 30 June 2023 613,285
AMORTISATION
At 1 July 2022 433,345
Charge for year 57,019
At 30 June 2023 490,364
NET BOOK VALUE
At 30 June 2023 122,921
At 30 June 2022 125,196

ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 95,325
Additions 29,412
At 30 June 2023 124,737
DEPRECIATION
At 1 July 2022 77,293
Charge for year 13,592
At 30 June 2023 90,885
NET BOOK VALUE
At 30 June 2023 33,852
At 30 June 2022 18,032

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 406,018 216,857
Amounts owed by group undertakings 248,826 48,626
Amounts owed by participating interests 1,243 1,323
Other debtors 40,499 241,132
696,586 507,938

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments - 38,017

ISC RESEARCH LIMITED (REGISTERED NUMBER: 05160590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 22,453 21,817
Taxation and social security 133,667 134,851
Other creditors 1,452,315 1,052,053
1,608,435 1,208,721

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
N D Brummitt
Balance outstanding at start of year 200,000 -
Amounts advanced - 200,000
Amounts repaid (200,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 200,000

11. RELATED PARTY DISCLOSURES

During the year, the company loaned funds to a subsidiary that it controls. At the start of the year, the company was owed £1,323 and at the end of the year, the company was owed £1,243 by its subsidiary. The loan is interest free and repayable on demand.

During the year, the company loaned funds to its parent. At the start of the year, the company was owed £48,626 and at the end of the year, the company was owed £248,826 by its parent. The loan is interest free and repayable on demand. During te year ISC Research Limited paid £250,000 (2022: £400,000) in dividends to its parent company.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is The International School Consultancy Group Limited.
The registered office and principle place of business is 2/3 The Old Barn, Wicklesham Lodge Farm, Faringdon, Wiltshire, SN7 7PN.