REGISTERED NUMBER: 06029246 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2023 to 30 September 2024

for

Interactive Education Solutions Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs M Kaur

REGISTERED OFFICE:

Sfp 9 Ensign House Admirals Way

Marsh Wall

London

E14 9XQ

REGISTERED NUMBER:

06029246 (England and Wales)

ACCOUNTANTS:

Davies Archytas Accountants Ltd

14 The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

FIXED ASSETS

Tangible assets

4

4,683

412,721

CURRENT ASSETS

Stocks

10,040

168,399

Debtors

413,122

1,139,851

Cash at bank and in hand

369

15,004

423,531

1,323,254

CREDITORS

Amounts falling due within one year

1,276,250

1,671,509

NET CURRENT LIABILITIES

(852,719

)

(348,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(848,036

)

64,466

CREDITORS

Amounts falling due after more than one year

26,280

368,287

NET LIABILITIES

(874,316

)

(303,821

)

CAPITAL AND RESERVES

Called up share capital

6

2

2

Revaluation reserve

7

-

148,583

Retained earnings

(874,318

)

(452,406

)

SHAREHOLDERS' FUNDS

(874,316

)

(303,821

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the period ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2024 and were signed by:

Mrs M Kaur - Director

1.	STATUTORY INFORMATION

Interactive Education Solutions 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 currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Motor vehicles

-

25% on reducing balance

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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2023

504,748

Additions

1,312

Disposals

(467,500

)

At 30 September 2024

38,560

DEPRECIATION

At 1 April 2023

92,027

Charge for period

1,619

Eliminated on disposal

(59,769

)

At 30 September 2024

33,877

NET BOOK VALUE

At 30 September 2024

4,683

At 31 March 2023

412,721

5.

LOANS

An analysis of the maturity of loans is given below:

30.9.24

31.3.23

£

£

Amounts falling due within one year or on demand:

Bank loans

41,272

105,172

Other loans

15,500

-

56,772

105,172

Amounts falling due between one and two years:

Bank loans - 1-2 years

26,280

105,172

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

263,115

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

31.3.23

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Revaluation

reserve

£

At 1 April 2023

148,583

Sale of property

(148,583

)

At 30 September 2024

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 March 2023:

30.9.24

31.3.23

£

£

Mrs M Kaur

Balance outstanding at start of period

53,065

52,054

Amounts advanced

45,422

15,386

Amounts repaid

(34,306

)

(14,375

)

Amounts written off

(64,181

)

-

Amounts waived

-

-

Balance outstanding at end of period

-

53,065

The above loan is unsecured, interest has been charged at 2% (prior to 6 April 2021 2.25%) on the above loan. There were no other conditions attached.

On 30th September 2024 the company decided to write off the director loan balance of £64,181 as irrecoverable.

9.	RELATED PARTY DISCLOSURES

Included within debtors are various related party balance owed by companies under common control which at the balance sheet date total £93,302 (2023: £741,464).

Included within creditors are various related party balance owed by companies under common control which at the balance sheet date total £805,762 (2023: £1,031,610).

10.	POST BALANCE SHEET EVENTS

In August 2018, unbeknown to the company and in the absence of any court documentation, a High Court Judgement in favour of Northumber PLC was purported on 3rd party websites against Interactive Eduction Solutions Limited, which was later proven to be false. After lengthy investigations HMCTS courts concluded and confirmed that no such judgement was issued against Interactive Education Solutions Limited. This has now been reported to the relevant authorities and the director is confident that appropriate action will be taken against the organisations/individuals involved.

Included within debtors is a figure awarded to Interactive Education Solutions Limited by the high court as part settlement of legal costs incurred to date. A detailed assessment of legal costs in underway with a potential further settlement due to Interactive Eduction Solutions Limited of up to 80% of the costs.

11.	ULTIMATE CONTROLLING PARTY

Throughout the financial year the controlling party was Innovote Limited, a company in which the director Mrs M Kaur owns 100% of the issued share capital.