IRIS Accounts Production v25.1.4.42 13062651 Board of Directors 1.1.24 31.12.24 31.12.24 15.7.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh130626512023-12-31130626512024-12-31130626512024-01-012024-12-31130626512022-12-31130626512023-01-012023-12-31130626512023-12-3113062651ns15:EnglandWales2024-01-012024-12-3113062651ns14:PoundSterling2024-01-012024-12-3113062651ns10:Director12024-01-012024-12-3113062651ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3113062651ns10:SmallEntities2024-01-012024-12-3113062651ns10:Audited2024-01-012024-12-3113062651ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3113062651ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3113062651ns10:FullAccounts2024-01-012024-12-3113062651ns10:Director22024-01-012024-12-3113062651ns10:RegisteredOffice2024-01-012024-12-3113062651ns5:CurrentFinancialInstruments2024-12-3113062651ns5:CurrentFinancialInstruments2023-12-3113062651ns5:ShareCapital2024-12-3113062651ns5:ShareCapital2023-12-3113062651ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3113062651ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3113062651ns5:RetainedEarningsAccumulatedLosses2024-12-3113062651ns5:RetainedEarningsAccumulatedLosses2023-12-3113062651ns5:PlantMachinery2023-12-3113062651ns5:PlantMachinery2024-01-012024-12-3113062651ns5:PlantMachinery2024-12-3113062651ns5:PlantMachinery2023-12-3113062651ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3113062651ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 13062651 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INTEROS INTERNATIONAL LTD

INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTEROS INTERNATIONAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J A M Bisceglie
D P Hobbs





REGISTERED OFFICE: Fourth Floor St James House
St James' Square
Cheltenham
Gloucestershire
GL50 3PR





REGISTERED NUMBER: 13062651 (England and Wales)





AUDITORS: Mark Arber Limited
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5,117

CURRENT ASSETS
Debtors: amounts falling due within one year 5 197,089 123,728
Cash at bank 35,469 92,509
232,558 216,237
CREDITORS
Amounts falling due within one year 6 31,986 51,375
NET CURRENT ASSETS 200,572 164,862
TOTAL ASSETS LESS CURRENT LIABILITIES 200,572 169,979

PROVISIONS FOR LIABILITIES - 345
NET ASSETS 200,572 169,634

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves - 63,492
Retained earnings 200,472 106,042
200,572 169,634

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by:





J A M Bisceglie - Director


INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Interos International Ltd 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.

These financial statements have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements. However, the group has incurred recurring losses from operations and has a net capital deficiency and will need to raise additional funding in this timeframe. This raises a material uncertainty about its ability to continue as a going concern and provide the necessary support. No adjustments have been made in these accounts which might result from that uncertainty. Our audit opinion is not qualified in this respect.

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.

Computer equipment - 3 years straight line

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Taxation
Taxation for the year 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 balance sheet date.

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.

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.

INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors have sought and received response from the parent company that financial support will be forthcoming for the next 12 months. On this basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on Debtors.

Creditors
Short term creditors are measured at the transaction price.

Interest Income
Interest income is recognised in profit or loss using the effective interest method.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 7 ) .

INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 January 2024 14,171
Disposals (14,171 )
At 31 December 2024 -
Depreciation
At 1 January 2024 9,054
Charge for year 4,724
Eliminated on disposal (13,778 )
At 31 December 2024 -
Net book value
At 31 December 2024 -
At 31 December 2023 5,117

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 186,533 113,183
Other debtors 9,468 8,451
VAT 1,088 2,094
197,089 123,728

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,802 -
Corporation tax 19,989 11,231
Pension creditor - 3,737
Accrued expenses 9,195 36,407
31,986 51,375

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

8. RELATED PARTY DISCLOSURES

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.

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Interos, Inc., a company incorporated in the United States of America.

The smallest group in which the results of the company are consolidated is that headed by Interos, Inc., with its registered office at 4040 Fairfax Drive Suite 800, Arlington, VA 22203, United States of America.

INTEROS INTERNATIONAL LTD (REGISTERED NUMBER: 13062651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. SHARE-BASED PAYMENT TRANSACTIONS

The company participates in a share option scheme for all employees. Options are exercisable on the shares of the ultimate parent company at a price equal to the estimated fair value of the ultimate parent company's shares on the date of the grant.
The vesting period is four years. If the options remain unexercised after a period of ten years from the date of the grant the options expire. Options are forfeited if the employee leaves the company before the options vest.
The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.