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Registration number: 11946361

Interactive Sports Training Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Interactive Sports Training Solutions Limited

Contents

Company Information

1

Directors' Report

2 to 3

Balance Sheet

4 to 6

Notes to the Unaudited Financial Statements

5

 

Interactive Sports Training Solutions Limited

Company Information

Directors

Mrs I Salerno

Mr J Salerno

Registered office

47 Woodstock Avenue
Romford
Essex
RM3 9NF

Accountants

Tudor Payne & Co. Limited
4 Old Chapel Drive
Lytchett Matravers
Poole
Dorset
BH16 6HA

 

Interactive Sports Training Solutions Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Directors of the company

The directors who held office during the year were as follows:

Mrs I Salerno

Mr J Salerno

Going concern

The company has made significant progress in developing it's flagship product, the Bionic Fighter, a revolutionary boxing and martial arts training mannequin. The MVP1 protoptype is now fully developed and a market launch is imminent. Once we have secured a suitable investment, we can finalise the steps to bring this innovative product to market.

Key milestones have already been achieved, including the successful development of the tooling for the torso. Manufactured casts of the torso have been rigorously tested in practical training environments and these protoptypes have demonstrated strong potential for commercial success.

Our next phase involves securing investment to commence sales of the MVP1 torso and support frame to a carefully selected group of early adopters, with strategic investements to drive adoption and market traction.

Momentum is also building on the investment front. The founder, John Salerno, has been selected by Innovate UK to participate in the Investability Workshop for the East of England, culminating in an investor pitch this March. Additionally he is engaged in Barclays Eagles Labs' Pre-Accelerator programme and has applied for a highly specialised accelerator dedicated to Sports Technology companies, which, if granted, will futher validate our business potential.

Despite the current challenges in securing investment, confidence remains high. The company has a clear strategy in place to expand investor outreach, including discussions with potential sports technology companies. We anticipate securing investment or grant funding within the next six months. In the interim, the company will continue to be financially supported by businesses owned by the directors, along with additional bootstrapping from friends and family.

We are excited about the road ahead and remain committed to driving Bionic Fighter towards a successful market entry.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

 

Interactive Sports Training Solutions Limited

Directors' Report for the Year Ended 30 April 2024

.........................................
Mr J Salerno
Director

 

Interactive Sports Training Solutions Limited

(Registration number: 11946361)
Balance Sheet as at 30 April 2024

2024
£

2023
£

Fixed assets

1,719

1,879

Current assets

141,661

125,467

Prepayments and accrued income

4,600

4,600

Creditors: Amounts falling due within one year

(5,000)

(5,000)

Net current assets

141,261

125,067

Total assets less current liabilities

142,980

126,946

Creditors: Amounts falling due after more than one year

(160,713)

(137,186)

Accruals and deferred income

(1,000)

(2,000)

 

(18,733)

(12,240)

Capital and reserves

(18,733)

(12,240)

 

Interactive Sports Training Solutions Limited

(Registration number: 11946361)
Balance Sheet as at 30 April 2024

1

General information

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

The address of its registered office is:
47 Woodstock Avenue
Romford
Essex
RM3 9NF

These financial statements were authorised for issue by the Board on 6 February 2025.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

3

Related party transactions

The director owed £14,753 at the balance sheet date, of which £3,200 was repaid by 31st. January 2025.

Transactions with directors

2024

At 1 May 2023
£

At 30 April 2024
£

Mr J Salerno

6,453

14,753

2023

At 1 May 2022
£

At 30 April 2023
£

Mr J Salerno

-

6,453

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

 

Interactive Sports Training Solutions Limited

(Registration number: 11946361)
Balance Sheet as at 30 April 2024

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 directors acknowledge their 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 micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr J Salerno
Director