Company registration number 03377559 (England and Wales)
INTERACTIVE1 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
INTERACTIVE1 LIMITED
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
INTERACTIVE1 LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr T Ursic
Secretary
Pembroke Consulting Limited
Company number
03377559
Registered office
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
Accountants
TC Group
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
INTERACTIVE1 LIMITED
STATEMENT OF FINANCIAL POSITION
- 2 -
2023
2022
Notes
£
£
£
£
Non-current assets
Investments
5
965,569
908,521
Current assets
Trade and other receivables
6
136
47
Cash and cash equivalents
4,811
33,780
4,947
33,827
Current liabilities
7
(47,834)
(69,503)
Net current liabilities
(42,887)
(35,676)
Net assets
922,682
872,845
Equity
Called up share capital
2
2
Retained earnings
922,680
872,843
Total equity
922,682
872,845
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year 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.
INTERACTIVE1 LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 11 March 2024
Mr T Ursic
Director
Company Registration No. 03377559
INTERACTIVE1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
Interactive1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Kings House, 9-10 Haymarket, London, United Kingdom, SW1Y 4BP.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has a reasonable expectation that the company has adequate resources, including the continued support of its immediate parent undertaking, to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis.true
1.3
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue for the provision of services is recognised in the period to which it relates.
1.4
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Non-current 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.
INTERACTIVE1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Equity instruments
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
INTERACTIVE1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 July 2022 and 30 June 2023
1,342
Depreciation and impairment
At 1 July 2022 and 30 June 2023
1,342
Carrying amount
At 30 June 2023
At 30 June 2022
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
965,569
908,521
INTERACTIVE1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in non-current investments
Investments
£
Cost or valuation
At 1 July 2022
908,521
Additions
57,048
At 30 June 2023
965,569
Carrying amount
At 30 June 2023
965,569
At 30 June 2022
908,521
6
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
48
47
Other receivables
88
136
47
7
Current liabilities
2023
2022
£
£
Trade payables
1
294
Taxation and social security
19
21,395
Other payables
47,814
47,814
47,834
69,503
8
Related party transactions
During the year the company made sales of £55,624 (2022: £440,744) to Crossing Technologies d.o.o., a company registered in Croatia. The director, T Urcic, has the majority shareholding and controlling interest in Crossing Technologies d.o.o. No amounts were owed to Interactive1 Limited from Crossing Technologies d.o.o. at the year end.