| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2025 |
| for |
| Inter Face IP Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2025 |
| for |
| Inter Face IP Ltd |
| Inter Face IP Ltd (Registered number: 12352919) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Inter Face IP Ltd |
| Company Information |
| for the Year Ended 31st March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| River View |
| 96 High Street |
| Garstang |
| Preston |
| Lancashire |
| PR3 1WZ |
| Inter Face IP Ltd (Registered number: 12352919) |
| Balance Sheet |
| 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve | 10 |
| Share-based payment reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Inter Face IP Ltd (Registered number: 12352919) |
| Balance Sheet - continued |
| 31st March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Inter Face IP Ltd (Registered number: 12352919) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2025 |
| 1. | STATUTORY INFORMATION |
| Inter Face IP Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue 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 |
| Plant and machinery etc | - |
| 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. |
| 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. |
| 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 loses. |
| Patents and licences are being amortised evenly over their estimated useful life of ten years but none in the year of revaluation. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Inter Face IP Ltd (Registered number: 12352919) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST OR VALUATION |
| At 1st April 2024 |
| Additions |
| At 31st March 2025 |
| AMORTISATION |
| At 1st April 2024 |
| Charge for year |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| The directors have identified Research & Development expenditure of £219,894 that has been capitalised. This is being amortised on a straight line basis over a five year period and is also represented in closing work in progress on the profit and loss account. |
| Cost or valuation at 31st March 2025 is represented by: |
| Other |
| intangible |
| assets |
| £ |
| Valuation in 2023 | 184,000 |
| Valuation in 2025 | 219,894 |
| Cost | 55,500 |
| 459,394 |
| The revaluation of IP was undertaken by a professional firm specialising in this area, who have no connection to the directors. |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2024 |
| Additions |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| Inter Face IP Ltd (Registered number: 12352919) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st April 2024 |
| and 31st March 2025 |
| 11. | RELATED PARTY DISCLOSURES |
| An inter company loan exists in current liabilities of £27,900. This is between Inter Face IP Ltd and Demo Face Ltd. Demo Face Ltd is wholly owned by Inter Face IP Ltd, whose shareholders include Mr S Warrington and Ms H Gray. |
| An inter company loan exists in current liabilities of £86,018. This is between Inter Face IP Ltd and Superla.tv Ltd. Superla.tv Ltd is wholly owned by Inter Face IP Ltd, whose shareholders include Mr S Warrington and Ms H Gray. |