Company No: 10113039 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	M Chung
	Mr J Gilbrook

REGISTERED OFFICE	1 Chancerygate Way
	Farnborough
	Hampshire
	GU14 8FF
	United Kingdom

COMPANY NUMBER

10113039 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,514		1,161
		1,514		1,161
Current assets
Stocks		471,431		358,719
Debtors	4	371,755		318,066
Cash at bank and in hand		122,904		206,490
		966,090		883,275
Creditors: amounts falling due within one year	5	( 1,215,171)		( 797,766)
Net current (liabilities)/assets		(249,081)		85,509
Total assets less current liabilities		(247,567)		86,670
Creditors: amounts falling due after more than one year	6	( 40,000)		( 80,000)
Provision for liabilities	7	( 318)		( 26)
Net (liabilities)/assets		( 287,885)		6,644
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 287,985 )		6,544
Total shareholders' (deficit)/funds		( 287,885)		6,644

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Innosonian Europe Limited (registered number: 10113039) were approved and authorised for issue by the Board of Directors on 18 November 2025. They were signed on its behalf by:

Mr J Gilbrook Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Innosonian Europe Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Chancerygate Way, Farnborough, Hampshire, GU14 8FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		3

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 May 2024	3,517		3,517
Additions	1,000		1,000
At 30 April 2025	4,517		4,517
Accumulated depreciation
At 01 May 2024	2,356		2,356
Charge for the financial year	647		647
At 30 April 2025	3,003		3,003
Net book value
At 30 April 2025	1,514		1,514
At 30 April 2024	1,161		1,161

4. Debtors

	2025		2024
	£		£
Trade debtors	184,472		233,260
Other debtors	187,283		84,806
	371,755		318,066

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	40,000		40,000
Trade creditors	445,055		229,404
Amounts owed to Group undertakings	117,053		117,053
Corporation tax	0		10,769
Other taxation and social security	2,010		3,586
Other creditors	611,053		396,954
	1,215,171		797,766

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	40,000		80,000

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 26)		( 92)
(Charged)/credited to the Profit and Loss Account	( 292)		66
At the end of financial year	( 318)		( 26)

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Other financial commitments

Lloyds Bank PLC has a fixed and floating charge over all of the assets of the company.

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025		2024
	£		£
Amounts due to entities with control, joint control or significant influence over the company	117,053		117,053
Amounts due from entities with control, joint control or significant influence over the company	30,842		30,842

Other related party transactions

	2025		2024
	£		£
Amounts due to other related parties	906,375		467,139
Amounts due from other related parties	37,952		5,021

11. Ultimate controlling party

The company is owned 50% by Spencer Stuart Limited, a company incorporated in England and Wales with its registered office at 12 Fratton Road, Portsmouth, Hampshire PO1 5BX, and 50% by M Chung, a company director.