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REGISTERED NUMBER: 12352919 (England and Wales)











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: Mr S I Warrington
Ms H D Gray





REGISTERED OFFICE: 00/09 Tower Works
2 Globe Road
Leeds
West Yorkshire
LS11 5QG





REGISTERED NUMBER: 12352919 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
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 4 354,031 202,066
Property, plant and equipment 5 8,052 3,293
Investments 6 200 200
362,283 205,559

CURRENT ASSETS
Debtors 7 109,045 202,333
Cash at bank 19,358 90,015
128,403 292,348
CREDITORS
Amounts falling due within one year 8 339,400 169,574
NET CURRENT (LIABILITIES)/ASSETS (210,997 ) 122,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,286

328,333

CREDITORS
Amounts falling due after more than one
year

9

537,534

-
NET (LIABILITIES)/ASSETS (386,248 ) 328,333

CAPITAL AND RESERVES
Called up share capital 735 735
Share premium 999,758 999,758
Revaluation reserve 10 176,240 176,240
Share-based payment reserve 66,969 -
Retained earnings (1,629,950 ) (848,400 )
SHAREHOLDERS' FUNDS (386,248 ) 328,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

Inter Face IP Ltd (Registered number: 12352919)

Balance Sheet - continued
31st March 2025


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 29th July 2025 and were signed on its behalf by:





Ms H D Gray - Director


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 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.

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
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 18 (2024 - 17 ) .

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 239,500
Additions 219,894
At 31st March 2025 459,394
AMORTISATION
At 1st April 2024 37,434
Charge for year 67,929
At 31st March 2025 105,363
NET BOOK VALUE
At 31st March 2025 354,031
At 31st March 2024 202,066

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 4,939
Additions 9,609
At 31st March 2025 14,548
DEPRECIATION
At 1st April 2024 1,646
Charge for year 4,850
At 31st March 2025 6,496
NET BOOK VALUE
At 31st March 2025 8,052
At 31st March 2024 3,293

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 200
NET BOOK VALUE
At 31st March 2025 200
At 31st March 2024 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 74,223 45,125
Other debtors 34,822 157,208
109,045 202,333

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 105,595 130,824
Taxation and social security 31,169 23,031
Other creditors 202,636 15,719
339,400 169,574

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Other creditors 537,534 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 537,534 -

10. RESERVES
Revaluation
reserve
£   
At 1st April 2024
and 31st March 2025 176,240

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.