Interactive Software Limited 31/03/2025 iXBRL

Company registration number: 02769701

Interactive Software Limited

Filleted financial statements

31 March 2025

Interactive Software Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Interactive Software Limited

Directors and other information


	Directors	Mr T Leek
		Mrs S Williams
		Miss S Shokar
		Mr P Ward


	Secretary	Mr T Leek


	Company number	02769701


	Registered office	Ground Floor Ts1, Pinewood Business Park
		Coleshill Road
		Solihull
		West Midlands
		B37 7HG


	Auditor	Edwards & Co (Codsall) Limited
		Chartered Certified Accountants and Registered Auditors
		Willow House
		Kingswood Business Park
		Holyhead Road
		South Staffs
		WV7 3AU

Interactive Software Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	7,134		10,487
		________		________
			7,134		10,487

Current assets
Debtors	7	247,155		210,717
Cash at bank and in hand		994,277		817,154
		________		________
		1,241,432		1,027,871
Creditors: amounts falling due
within one year	8	( 870,492)		( 660,880)
		________		________
Net current assets			370,940		366,991
			________		________
Total assets less current liabilities			378,074		377,478


Provisions for liabilities	9		( 1,500)		( 2,650)

			________		________
Net assets			376,574		374,828
			________		________

Capital and reserves
Called up share capital	11		60		60
Capital redemption reserve			40		40
Profit and loss account			376,474		374,728
			________		________
Shareholders funds			376,574		374,828
			________		________

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 13 August 2025 , and are signed on behalf of the board by:

Mr T Leek

Director

Company registration number: 02769701

Interactive Software Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor Ts1, Pinewood Business Park, Coleshill Road, Solihull, West Midlands, B37 7HG.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

These financial statements have been prepared on the going concern basis as deemed appropriate by the directors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Other Intangibles	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20% Straight Line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2024: 11 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	121,815	121,815
	________	________
Amortisation
At 1 April 2024 and 31 March 2025	121,815	121,815
	________	________
Carrying amount
At 31 March 2025	-	-
	________	________
At 31 March 2024	-	-
	________	________

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	51,001	51,001
	________	________
Depreciation
At 1 April 2024	40,514	40,514
Charge for the year	3,353	3,353
	________	________
At 31 March 2025	43,867	43,867
	________	________
Carrying amount
At 31 March 2025	7,134	7,134
	________	________
At 31 March 2024	10,487	10,487
	________	________

7. Debtors

	2025	2024
	£	£
Trade debtors	116,248	104,867
Amounts owed by group undertakings and undertakings in which the company has a participating interest	49,155	9,155
Other debtors	81,752	96,695
	________	________
	247,155	210,717
	________	________

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	14,253	10,871
Corporation tax	87,983	37,000
Social security and other taxes	75,362	57,020
Other creditors	692,894	555,989
	________	________
	870,492	660,880
	________	________

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 April 2024	2,650	2,650
Transfers	( 1,150)	( 1,150)
	________	________
At 31 March 2025	1,500	1,500
	________	________

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 9)	1,500	2,650
	________	________

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,150	1,000
	________	________

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	60	60	60	60
	________	________	________	________

12. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	19,947	19,271
	________	________

13. Summary audit opinion

The auditor's report dated 13 August 2025 was unqualified.

The senior statutory auditor was Michael Edwards FCCA for and on behalf of Edwards & Co (Codsall) Limited

14. Related party transactions

The company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 section 1A '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.

15. Controlling party

The immediate and ultimate parent company is Unit Test Limited , incoporated in England and Wales, whose registered office is the same as Interactive Software Limited .