Influential (Holdings) Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 09385197 (England and Wales)
Influential (Holdings) Limited
Company Information
Directors
A Richardson
J Simpson
Company number
09385197
Registered office
11 Hollingworth Court
Turkey Mill
Ashford Road
Maidstone
Kent
United Kingdom
ME14 5PP
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Influential (Holdings) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Influential (Holdings) Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
411
601,645
Current assets
Debtors
6
67,049
689,876
Cash at bank and in hand
1,173,046
872,923
1,240,095
1,562,799
Creditors: amounts falling due within one year
7
(1,026,094)
(6,171)
Net current assets
214,001
1,556,628
Net assets
214,412
2,158,273
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
214,312
2,158,173
Total equity
214,412
2,158,273
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 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 Act 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 15 September 2024 and are signed on its behalf by:
A Richardson
Director
Company Registration No. 09385197
Influential (Holdings) Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information
Influential (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Hollingworth Court, Turkey Mill, Ashford Road, Maidstone, Kent, United Kingdom, ME14 5PP.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 the revaluation of 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 due to the group being small. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
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
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.5
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 balance sheet 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.
Influential (Holdings) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
1.6
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 profit and loss account 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.
1.7
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
200
Other investments other than loans
311
601,445
411
601,645
Influential (Holdings) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
3
Fixed asset investments
(Continued)
Page 4
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2023
200
601,445
601,645
Additions
-
40,000
40,000
Valuation changes
-
2,142
2,142
Disposals
(100)
(643,276)
(643,376)
At 31 December 2023
100
311
411
Carrying amount
At 31 December 2023
100
311
411
At 31 December 2022
200
601,445
601,645
4
Subsidiaries
These financial statements are separate company financial statements for Influential (Holdings) Limited.
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Influential Software Services Limited
United Kingdom
IT Consultancy
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Influential Software Services Limited
62,476
28,544
5
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
311
601,445
Influential (Holdings) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
66,727
66,727
Amounts owed by group undertakings
322
51
Other debtors
-
623,098
67,049
689,876
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
319
Corporation tax
3,052
Other creditors
1,023,934
-
Accruals and deferred income
2,160
2,800
1,026,094
6,171
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary 'A' shares of £1 each
100
100
100
100
9
Control
The company is not under the control of any one entity or individual.
10
Related party transactions
At the end of the year, included in debtors is £322 (2022: £51) owed by Influential Software Services Limited, Influential Software Services Limited is subsidiary of Influential (Holdings) Limited. Interest of £16,242 (2022: £nil) was charged on this loan during the year.
11
Directors' transactions
Included in debtors at the year end is an amount of £nil (2022: £623,098) due from a director, Mr A Richardson. Interest of £nil (2022: £12,791) has been charged during the year, at a hybrid rate of 2.00%.
Included in creditors at the year end is an amount of £1,023,934 (2022: £nil) due to the directors.