Company Registration No. 08337763 (England and Wales)
Involved Enterprises Limited
Unaudited financial statements
for the year ended 31 March 2023
Pages for filing with the registrar
Involved Enterprises Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Involved Enterprises Limited
Statement of financial position
As at 31 March 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
6
202,749
202,749
Current assets
Debtors
7
100
100
Creditors: amounts falling due within one year
8
(2,749)
(2,749)
Net current liabilities
(2,649)
(2,649)
Net assets
200,100
200,100
Capital and reserves
Called up share capital
9
101
101
Share premium account
199,999
199,999
Total equity
200,100
200,100

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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.

The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
James Grant
Director
Company Registration No. 08337763
Involved Enterprises Limited
Statement of changes in equity
For the year ended 31 March 2023
2
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2021
101
199,999
-
0
200,100
Year ended 31 March 2022:
Profit and total comprehensive income for the year
-
-
2,750,000
2,750,000
Dividends
4
-
-
(2,750,000)
(2,750,000)
Balance at 31 March 2022
101
199,999
-
0
200,100
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
4,000,000
4,000,000
Dividends
4
-
-
(4,000,000)
(4,000,000)
Balance at 31 March 2023
101
199,999
-
0
200,100
Involved Enterprises Limited
Notes to the financial statements
For the year ended 31 March 2023
3
1
Accounting policies
Company information

Involved Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is 65 Decima Street, London, SE1 4QR.

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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The truedirectors at the time of approving the financial statements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have elected to prepare the financial statements on the going concern basis.

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
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Involved Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
1
Accounting policies (continued)
4
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 0).

Involved Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
5
4
Dividends
2023
2022
£
£
Ordinary shares
Interim paid
4,000,000
2,750,000
Involved Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
6
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2023 are as follows:

Name of undertaking
Registered office
Class of
shares held
% Held
Direct
Involved Productions Limited
England and Wales
Ordinary
100
Involved Management Limited
England and Wales
Ordinary
100
Involved Publishing Limited
England and Wales
Ordinary
100
Tri-State Worldwide Limited
England and Wales
Ordinary
100
Sun & Moon Worldwide Limited
England and Wales
Ordinary
100
Involved Productions Inc.
USA
Ordinary
100
6
Fixed asset investments
2023
2022
£
£
Investments
202,749
202,749
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2022 & 31 March 2023
202,749
Carrying amount
At 31 March 2023
202,749
At 31 March 2022
202,749
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
100
100
Involved Enterprises Limited
Notes to the financial statements (continued)
For the year ended 31 March 2023
7
8
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to group undertakings
1,103
1,103
Other creditors
1,646
1,646
2,749
2,749
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
10,100 Ordinary shares of 1p each
101
101
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