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REGISTERED NUMBER: 05300335 (England and Wales)



















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INTERPRETER NOW LTD

INTERPRETER NOW LTD (REGISTERED NUMBER: 05300335)






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


INTERPRETER NOW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Rodriguez
V Vega
M W King





REGISTERED OFFICE: St Agnes House
6 Cresswell Park
Blackheath
London
SE3 9RD





REGISTERED NUMBER: 05300335 (England and Wales)





AUDITORS: Thomson Cooper
Statutory Auditor
3 Castle Court
Carnegie Campus
Dunfermline
KY11 8PB

INTERPRETER NOW LTD (REGISTERED NUMBER: 05300335)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 3,878 2,592,913
Cash at bank 89 4,501
3,967 2,597,414
CREDITORS
Amounts falling due within one year 5 3,966 439,143
NET CURRENT ASSETS 1 2,158,271
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

2,158,271

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings - 2,158,270
1 2,158,271

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 28 August 2024 and were signed on its behalf by:





M W King - Director


INTERPRETER NOW LTD (REGISTERED NUMBER: 05300335)

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

1. STATUTORY INFORMATION

Interpreter Now 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 presentation currency of the financial statements is the pound sterling, rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities " of 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.

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 measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

Turnover from translation services is recognised when the work has been completed. When the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Financial instruments
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 are recognised in the profit and loss account in other administrative expenses.

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.

INTERPRETER NOW LTD (REGISTERED NUMBER: 05300335)

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

2. ACCOUNTING POLICIES - continued

Software development
Expenditure on software development is written off in the year in which it is incurred.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Going concern
On 30 September 2022 the company ceased to trade. For that reason, the directors do not believe that the going concern basis remains appropriate. The directors have therefore prepared the financial accounts on a basis other than going concern. No adjustment arose as a result of applying this basis of preparation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,372
Amounts owed by group undertakings 3,878 2,591,438
Other debtors - 103
3,878 2,592,913

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 424,286
Taxation and social security 3,966 -
Other creditors - 14,857
3,966 439,143

INTERPRETER NOW LTD (REGISTERED NUMBER: 05300335)

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

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

The Report of the Auditors was unqualified.

Andrew Croxford (Senior Statutory Auditor)
for and on behalf of Thomson Cooper

7. ULTIMATE PARENT COMPANY

The company's immediate parent company is Sign Language Interactions Limited, incorporated in the UK. The ultimate parent company is Ariel Alternatives LLC, based in the United States of America.