THE INTERN GROUP LIMITED


Directors	BELSO, Kalea
	LLOYD, David Janson
	LUSTIG, Nathan
	MONAHAN, Garry John


Registered Address	Grove House
	2 Woodberry Grove
	London
	N12 0DR


Registered Number	07891350 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	4		840,814		756,895
Tangible assets	5		286		-
Investments	6		1,108,420		858,918
			1,949,520		1,615,813
Current assets
Debtors		417,348		430,511
Cash at bank and on hand		523,868		151,706
		941,216		582,217
Creditors amounts falling due within one year	7	(1,521,432)		(920,835)
Net current assets (liabilities)			(580,216)		(338,618)
Total assets less current liabilities			1,369,304		1,277,195
Provisions for liabilities	8		(17,920)		-
Net assets			1,351,384		1,277,195
Capital and reserves
Called up share capital			18,815		18,815
Share premium			1,030,419		1,030,419
Revaluation reserve			(147,897)		(345,694)
Other reserves			1,511,467		1,523,355
Profit and loss account			(1,061,420)		(949,700)
Shareholders' funds			1,351,384		1,277,195

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2025, and are signed on its behalf by:

LLOYD, David Janson
Director
Registered Company No. 07891350

THE INTERN GROUP LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit and loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit and loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible fixed assets are stated at cost of development less amortisation. Amortisation is provided based on the assessed useful life individual assets, assets are not amortised in the first year of completion.

	Research and development
	R&D costs classified as research and does not lead directly to future economic benefits is charged to the profit and loss. R&D costs classed as development is assessed for feasibility under SSAP 13 specification. If all criteria are feasibility satisfied, expenditure are capitalised at cost.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	2

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	3		7

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets
	Intangible assets consist entirely capitalised development costs. This includes a project with an assessed useful life of 7 years.

	Other	Total
	£	£
Cost or valuation
At 01 January 24	881,612	881,612
Additions	244,840	244,840
At 31 December 24	1,126,452	1,126,452
Amortisation and impairment
At 01 January 24	124,717	124,717
Charge for year	160,921	160,921
At 31 December 24	285,638	285,638
Net book value
At 31 December 24	840,814	840,814
At 31 December 23	756,895	756,895

5.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
Additions	458	458
At 31 December 24	458	458
Depreciation and impairment
Charge for year	172	172
At 31 December 24	172	172
Net book value
At 31 December 24	286	286
At 31 December 23	-	-

6.	Fixed asset investments
	Historical cost of investment in group as at year end was £1,036,740.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 24	858,918	858,918
Revaluations	249,502	249,502
At 31 December 24	1,108,420	1,108,420
Net book value
At 31 December 24	1,108,420	1,108,420
At 31 December 23	858,918	858,918

	Notes
	¹Investments in group undertakings and participating interests

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	12,945	-
Bank borrowings and overdrafts	80,858	86
Amounts owed to related parties	743,527	699,059
Other creditors	24,595	-
Accrued liabilities and deferred income	659,507	221,690
Total	1,521,432	920,835

8.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	17,920	-
Total	17,920	-

9.	Related party transactions
	As at balance sheet date this company transacted with the following entities related via direct subsidiary control: Intern London Ltd, Intern Chile SPA, The Intern Group Tokyo, Intern Madrid Centre of Study & Experience, Intern Dublin Internship Providers Ltd, Intern Melbourne Pty Ltd, The Intern Group SAS - Columbia, The Intern Group North America, and Intern Hong Kong Ltd. Transactions with group entities are conducted under normal business terms and the balances did not carry any interest. Outstanding balances are both in debit and credit resulting in a net credit position of £549,628 (2023: £350,858) as at the balance sheet date.

Related party transactions

As at balance sheet date this company transacted with the following entities related via direct subsidiary control: Intern London Ltd, Intern Chile SPA, The Intern Group Tokyo, Intern Madrid Centre of Study & Experience, Intern Dublin Internship Providers Ltd, Intern Melbourne Pty Ltd, The Intern Group SAS - Columbia, The Intern Group North America, and Intern Hong Kong Ltd. 

Transactions with group entities are conducted under normal business terms and the balances did not carry any interest. Outstanding balances are both in debit and credit resulting in a net credit position of £549,628 (2023: £350,858) as at the balance sheet date.