REGISTERED NUMBER: |
Financial Statements |
for the period |
1 July 2023 to 31 December 2023 |
for |
INTELLIGENT RETAIL LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the period |
1 July 2023 to 31 December 2023 |
for |
INTELLIGENT RETAIL LIMITED |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Contents of the Financial Statements |
for the period 1 July 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INTELLIGENT RETAIL LIMITED |
Company Information |
for the period 1 July 2023 to 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Balance Sheet |
31 December 2023 |
2023 | 2023 |
Notes | £ | £ |
Current assets |
Stocks |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Creditors |
Amounts falling due after more than one year |
9 |
( |
) |
Provisions for liabilities | ( |
) |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Notes to the Financial Statements |
for the period 1 July 2023 to 31 December 2023 |
1. | Statutory information |
Intelligent Retail Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
Reporting period |
The company shortened its accounting period from 30 June to 31 December, to bring the period end in line with the group accounting period. As a consequence, the financial statements show results for the 6 month period to 31 December 2023 with the comparatives showing a 12 month period to 30 June 2023. |
Going concern |
We confirm that the parent company will provide financial support as is necessary to enable Intelligent Retail Limited to meet its liabilities as and when they fall due, for a period of at least twelve months from the date the financial statements for the period ended 30 June 2023 of Intelligent Retail Limited are approved by the board of directors. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any critical judgements in applying the company's accounting policies. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the actual results. There are no estimates or assumptions which give a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year. |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of value added tax and trade discounts. |
Turnover in relation to support services is recognised in equal instalments over the period of service provision. |
Turnover in respect of other services is recognised on delivery of those services. |
Turnover in relation to software licenses is recognised at a point in time when the software license is transferred to the customer and set-up so that the customer has the unrestricted ability to use it. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Patents and licences are being amortised evenly over their estimated useful life of 10 years. |
Development costs are being amortised evenly over their estimated useful life of 10 years. |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Notes to the Financial Statements - continued |
for the period 1 July 2023 to 31 December 2023 |
3. | Accounting policies - continued |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Financial assets |
Basic financial assets, including trade and other debtors, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment.The impairment loss is recognised in the profit or loss. |
There are no assets which are initially measured at fair value. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, bank loans and amounts owed to group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Notes to the Financial Statements - continued |
for the period 1 July 2023 to 31 December 2023 |
3. | Accounting policies - continued |
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 period 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. |
4. | Employees and directors |
The average number of employees during the period was |
5. | Intangible fixed assets |
Other |
intangible |
assets |
£ |
Cost |
At 1 July 2023 |
Disposals | ( |
) |
At 31 December 2023 |
Amortisation |
At 1 July 2023 |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 30 June 2023 |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Notes to the Financial Statements - continued |
for the period 1 July 2023 to 31 December 2023 |
6. | Tangible fixed assets |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1 July 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
Depreciation |
At 1 July 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
7. | Debtors: amounts falling due within one year |
2023 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2023 | 2023 |
£ | £ |
Bank loans |
10. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2023 |
£ | £ |
Within one year |
Between one and five years |
INTELLIGENT RETAIL LIMITED (REGISTERED NUMBER: 05191397) |
Notes to the Financial Statements - continued |
for the period 1 July 2023 to 31 December 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2023 |
value: | £ | £ |
Ordinary | £ | 2 | 2 |
12. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | Ultimate controlling party |
The company is a wholly owned subsidiary of Constellation Software UK Holdco Limited, |
The ultimate parent company and controlling party is Constellation Software Inc, a company incorporated in Canada and listed on the Toronto Stock Exchange. The smallest and largest consolidated accounts which include Datamine Corporate Limited are the Constellation Software Inc. group accounts. |
The consolidated accounts of Constellation Software Inc are available to the public and may be obtained from Constellation Software Inc. 1200-20 Adelaide Street, East Toronto, ON M5C 2T6, Canada. |
14. | Pension commitments |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independent administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £11,150 (June 2023: £18,429). Contributions totalling £1,621 (June 2023: £3,448) were payable to the fund at the Statement of Financial Position date and are included in creditors. |