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Registration number: 04954720

Consumer Intelligence Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Consumer Intelligence Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 12

 

Consumer Intelligence Limited

(Registration number: 04954720)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,713,388

1,720,345

Tangible assets

5

15,453

131,386

Investment property

6

292,444

298,850

Investments

7

59

59

 

2,021,344

2,150,640

Current assets

 

Debtors

8

1,469,598

2,000,683

Cash at bank and in hand

 

915,238

72,795

 

2,384,836

2,073,478

Creditors: Amounts falling due within one year

9

(3,279,908)

(3,071,907)

Net current liabilities

 

(895,072)

(998,429)

Total assets less current liabilities

 

1,126,272

1,152,211

Creditors: Amounts falling due after more than one year

9

(481,286)

(647,407)

Provisions for liabilities

(281,664)

(317,318)

Net assets

 

363,322

187,486

Capital and reserves

 

Called up share capital

101

101

Share premium reserve

22,501

22,501

Retained earnings

340,720

164,884

Shareholders' funds

 

363,322

187,486

 

Consumer Intelligence Limited

(Registration number: 04954720)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 September 2024
 

Mr IC Hughes
Company secretary and director

   
     
 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
BS1 6NL

These financial statements were authorised for issue by the director on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Group accounts not prepared

The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future
despite the energy and cost of living increases. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the costs incurred and to be incurred in respect of the transaction can be reliably measured; and
- specific criteria have been met for each of the company's activities.

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

Not depreciated

Long leasehold property

20% on reducing balance

Fixtures, fittings and equipment

20% on reducing balance

Computer equipment

33% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Development costs

Product development is recognised separately as an intangible asset. Expenditure is only capitalised if costs can be measured reliably, if the product is technically and commercially feasible, if future economic benefits are probable and if the company has sufficient resources to complete development and use the asset. Product development costs are expensed to the profit and loss account on a straight line basis for a maximum period of no more than five years.

Amortisation

Amortisation commences once the development has been completed and the asset becomes revenue generating. Development expenditure is amortised on a straight line basis so that it is expenses to the profit and loss account over its useful life as follows:

Asset class

Amortisation method and rate

Development costs

20% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Research and development

Research and development expenditure is written off as incurred, except that development expenditure incurred on an individual project is capitalised as an intangible asset when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the asset and the ability to measure reliably the expenditure during development.

Following initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use. It is amortised evenly over the period of expected future benefit. During the period of development the asset is tested for impairment annually.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 50 (2023 - 49).

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Development costs
 £

Total
£

Cost or valuation

At 1 April 2023

9,772,202

9,772,202

Additions

612,425

612,425

At 31 March 2024

10,384,627

10,384,627

Amortisation

At 1 April 2023

8,051,857

8,051,857

Amortisation charge

619,382

619,382

At 31 March 2024

8,671,239

8,671,239

Carrying amount

At 31 March 2024

1,713,388

1,713,388

At 31 March 2023

1,720,345

1,720,345

5

Tangible assets

Long leasehold property
£

Fixtures, fittings and equipment
£

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2023

176,211

160,312

149,781

486,304

Additions

-

7,055

5,143

12,198

Disposals

(176,211)

(155,009)

(116,447)

(447,667)

At 31 March 2024

-

12,358

38,477

50,835

Depreciation

At 1 April 2023

112,456

105,517

136,945

354,918

Charge for the year

5,312

12,270

9,054

26,636

Eliminated on disposal

(117,768)

(111,970)

(116,434)

(346,172)

At 31 March 2024

-

5,817

29,565

35,382

Carrying amount

At 31 March 2024

-

6,541

8,912

15,453

At 31 March 2023

63,755

54,795

12,836

131,386

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Investment properties

2024
£

At 1 April

298,850

Fair value adjustments

(6,406)

At 31 March

292,444

The property was valued as at 31 March 2024 by Mr I C Hughes, director, on an open market basis.

7

Investments

2024
£

2023
£

Investments in subsidiaries

59

59

Subsidiaries

£

Cost or valuation

At 1 April 2023

59

Provision

Carrying amount

At 31 March 2024

59

At 31 March 2023

59

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

International Consumer Intelligence Limited

1300-1969 Upper Water Street
Mcinnes Cooper Tower - Purdy's Wharf
Halifax
Nova Scotia
B3J 3R7

Canada

100 Ordinary Shares

100%

100%

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

351,225

496,960

Receivables from related parties

11

856,067

1,021,185

Prepayments

 

42,883

30,034

Other debtors

 

219,423

452,504

 

1,469,598

2,000,683

9

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

12

331,876

315,374

Trade creditors

 

126,573

256,320

Social security and other taxes

 

495,146

580,989

Other creditors

 

16,397

12,227

Accruals

 

2,234,629

1,906,997

Corporation tax liability

75,287

-

 

3,279,908

3,071,907

Due after one year

 

Loans and borrowings

12

481,286

647,407

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £16,689 (2023 - £104,442).

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions liabilities of £13,392 (2023 - £12,165).

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Summary of transactions with subsidiaries

The company has taken advantage of the exemption available under The Small Companies and Groups Regulations 2008, Schedule 1 paragraph 66(4) from disclosing details of any transactions entered into between two or more members of a group where they are wholly owned members of this group.
 

Loans to related parties

2024

Key management
£

Total
£

At start of period

935,633

935,633

Advanced

197,571

197,571

Repaid

(426,597)

(426,597)

At end of period

706,607

706,607

2023

Key management
£

Total
£

At start of period

712,396

712,396

Advanced

229,737

229,737

Repaid

(6,500)

(6,500)

At end of period

935,633

935,633

Terms of loans to related parties

Loans to subsidiaries are interest free and repayable on demand.
 Loans to key management are interest free and repayable on demand.
 

 

Consumer Intelligence Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

481,286

629,135

Hire purchase contracts

-

18,272

481,286

647,407

Current loans and borrowings

2024
£

2023
£

Bank borrowings

331,876

309,423

Hire purchase contracts

-

5,951

331,876

315,374

Bank borrowings are secured by both the assets of the company and the personal assets of the director.