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REGISTERED NUMBER: 11823914 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INTEL 471 UK LTD.

INTEL 471 UK LTD. (REGISTERED NUMBER: 11823914)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTEL 471 UK LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: D Timm
J Passwaters





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 11823914 (England and Wales)





Auditors: WD Audit Limited
Statutory Auditors
5th Floor
111 Charterhouse Street
London
EC1M 6AW

INTEL 471 UK LTD. (REGISTERED NUMBER: 11823914)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 764 1,682

CURRENT ASSETS
Debtors 5 414,123 312,857
Cash at bank 56,572 45,641
470,695 358,498
CREDITORS
Amounts falling due within one year 6 (79,448 ) (72,028 )
NET CURRENT ASSETS 391,247 286,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,011

288,152

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 391,911 288,052
392,011 288,152

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 15 April 2024 and were signed on its behalf by:





D Timm - Director


INTEL 471 UK LTD. (REGISTERED NUMBER: 11823914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Intel 471 UK 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.

The Company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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 represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

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

Financial instruments
The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance Sheet when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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
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.

INTEL 471 UK LTD. (REGISTERED NUMBER: 11823914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of debtors are recognised in the Statement of profit and loss in administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 January 2023
and 31 December 2023 10,259
Depreciation
At 1 January 2023 8,577
Charge for year 918
At 31 December 2023 9,495
Net book value
At 31 December 2023 764
At 31 December 2022 1,682

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed by group undertakings 376,280 306,054
Other debtors 1,895 -
VAT 2,534 1,711
Deferred tax asset 3,985 759
Prepayments 29,429 4,333
414,123 312,857

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Tax 38,066 29,451
Social security and other taxes 22,146 11,147
Other creditors 368 4,220
Accrued expenses 18,868 27,210
79,448 72,028

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

The Report of the Auditors was unqualified.

Roy Davis (Senior Statutory Auditor)
for and on behalf of WD Audit Limited

INTEL 471 UK LTD. (REGISTERED NUMBER: 11823914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. RELATED PARTY DISCLOSURES

During the financial year, under the service agreement with Intel 471 Inc the total transactions was £3,210,169 (2022: £3,410,271). The Company is a wholly owned subsidiary of Intel 471 Inc. a company incorporated in United States. As at 31 December 2023 an amount of £376,280 (2022: £306,054) was due to the Company by Intel 471 Inc.

9. ULTIMATE CONTROLLING PARTY

Integra Parent, LP, is regarded by the directors as being the Company's ultimate parent company whose registered office is at 150 North Riverside Plaza, Suite 2800, Chicago, IL 60606, USA.

The Company's immediate parent Company is Intel 471 Inc., a Company registered in United States.

The largest and smallest of the group undertakings to consolidate these financial statements as at 31 December 2023 is Intel 471 Inc.,. The consolidated financial statements can be obtained from Intel 471 Inc., 1209 N Orange St, Wilmington, Delaware, 19801, USA.