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REGISTERED NUMBER: 02677667 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Interact Limited

Interact Limited (Registered number: 02677667)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Interact Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr A J Corker
Mr M J Corker
Mr C D Derry





SECRETARY: Mrs N A Corker





REGISTERED OFFICE: Unit F
Green Lane Industrial Park
Featherstone
Pontefract
West Yorkshire
WF7 6TA





REGISTERED NUMBER: 02677667 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Interact Limited (Registered number: 02677667)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 165,989 143,512

CURRENT ASSETS
Stocks 232,689 282,564
Debtors 6 1,311,059 570,312
Cash at bank and in hand 715,763 324,437
2,259,511 1,177,313
CREDITORS
Amounts falling due within one year 7 682,993 494,220
NET CURRENT ASSETS 1,576,518 683,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,742,507

826,605

CREDITORS
Amounts falling due after more than one
year

8

(10,358

)

(25,367

)

PROVISIONS FOR LIABILITIES (35,509 ) (29,435 )
NET ASSETS 1,696,640 771,803

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,696,540 771,703
SHAREHOLDERS' FUNDS 1,696,640 771,803

Interact Limited (Registered number: 02677667)

Balance Sheet - continued
31 January 2024


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Mr A J Corker - Director


Interact Limited (Registered number: 02677667)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Interact Limited 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 and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

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

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods falling within the company's ordinary activities. Turnover is recognised at the point the goods and services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% on cost straight line
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Interact Limited (Registered number: 02677667)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 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.

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 year was 13 (2023 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 41,684 259,436 301,120
Additions - 73,807 73,807
At 31 January 2024 41,684 333,243 374,927
DEPRECIATION
At 1 February 2023 25,673 131,935 157,608
Charge for year 1,232 50,098 51,330
At 31 January 2024 26,905 182,033 208,938
NET BOOK VALUE
At 31 January 2024 14,779 151,210 165,989
At 31 January 2023 16,011 127,501 143,512


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,114,236 419,974
Amounts owed by group undertakings 24,015 23,245
Other debtors 172,808 127,093
1,311,059 570,312

Interact Limited (Registered number: 02677667)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 15,456 15,457
Trade creditors 296,561 429,832
Taxation and social security 363,482 42,060
Other creditors 7,494 6,871
682,993 494,220

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 10,358 25,367

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 25,814 40,824

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances and credits were made to directors of £22,016 with a market rate of interest
charged. At the balance sheet date the balance was £22,016 (2023: £Nil). The maximum balance
in the year was £22,016.