Influential Software Services Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 02779820 (England and Wales)
Influential Software Services Limited
Company Information
Directors
A. Richardson
J. Simpson
Company number
02779820
Registered office
11 Hollingworth Court
Turkey Mill
Ashford Road
Maidstone
Kent
ME14 5PP
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Influential Software Services Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Influential Software Services Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,287
41
Tangible assets
4
22,479
32,603
23,766
32,644
Current assets
Debtors
5
1,857,243
1,786,577
Cash at bank and in hand
457,487
997,218
2,314,730
2,783,795
Creditors: amounts falling due within one year
6
(2,270,400)
(2,210,356)
Net current assets
44,330
573,439
Total assets less current liabilities
68,096
606,083
Provisions for liabilities
(5,620)
(8,151)
Net assets
62,476
597,932
Capital and reserves
Called up share capital
7
100
100
Capital redemption reserve
1,000
1,000
Profit and loss reserves
61,376
596,832
Total equity
62,476
597,932
Influential Software Services Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2

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. 02779820
Influential Software Services Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

Influential Software Services 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 on the historical cost convention. The principal accounting policies adopted are set out below.

 

1.2
Going concern

Atruet 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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - AMSYS
Acquired AMSYS is written off in equal annual installments over its estimated useful economic life of 2 years.
1.5
Tangible fixed assets

Tangible fixed assets 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:

Plant and machinery
25% straight line
Fixtures, fittings & equipment
15% straight line
1.6
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.

1.7
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Influential Software Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
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.

Influential Software Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
48
46
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023
373,354
Additions
1,287
At 31 December 2023
374,641
Amortisation and impairment
At 1 January 2023
373,313
Amortisation charged for the year
41
At 31 December 2023
373,354
Carrying amount
At 31 December 2023
1,287
At 31 December 2022
41
Influential Software Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
147,605
Additions
10,658
Disposals
(21,303)
At 31 December 2023
136,960
Depreciation and impairment
At 1 January 2023
115,002
Depreciation charged in the year
14,865
Eliminated in respect of disposals
(15,386)
At 31 December 2023
114,481
Carrying amount
At 31 December 2023
22,479
At 31 December 2022
32,603
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
955,748
868,171
Corporation tax recoverable
-
0
25,342
Other debtors
694,891
647,887
Prepayments and accrued income
206,604
245,177
1,857,243
1,786,577
Influential Software Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 7
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
152,149
253,867
Amounts owed to group undertakings
322
154
Corporation tax
-
0
48,522
Other taxation and social security
274,628
297,381
Other creditors
1,492,485
1,305,310
Accruals and deferred income
350,816
305,122
2,270,400
2,210,356
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
100
100
100
100
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
99,965
113,707
Between two and five years
85,772
185,738
185,737
299,445

 

9
Control

The parent company is Influential (Holdings) Limited which holds 100% of the share capital. The registered address of the parent company is 11 Hollingworth Court Turkey Mill Business Park, Ashford Road, Maidstone, Kent, England, ME14 5PP.

Influential Software Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 8
10
Related party transactions

At the year end the company owed £322 (2022: £51) to Influential (Holdings) Limited, its parent company. Interest of £16,242 (2022: £nil) was charged on this loan during the year.

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