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Registration number: 08317726

Now Interact Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Now Interact Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 8

image-name
 

Now Interact Limited

Company Information

Director

M Astrom

Company secretary

Goodwille Limited

Registered office

Office 1
1 Coldbath Square
Farrindgon
London
EC1R 5HL

Accountants

Shaw Gibbs Limited Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Page 1

 

Now Interact Limited

(Registration number: 08317726)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Current assets

  

Receivables

5

2,288

2,228

Cash at bank and in hand

6

30,006

147,128

 

32,294

149,356

Payables: Amounts falling due within one year

7

(603,714)

(603,175)

Net liabilities

 

(571,420)

(453,819)

Equity

  

Called up share capital

8

1,000

1,000

Retained earnings

8

(572,420)

(454,819)

Shareholders' deficit

  

(571,420)

(453,819)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

•

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement .

The financial statements of Now Interact Limited were approved and authorised for issue by the director on 10 September 2025
 

.........................................

M Astrom
Director

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 2

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

1

General information

Now Interact Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The director has considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future. The company have also reviewed the ongoing committed financial support from the company's parent undertaking and are confident that this will be available for the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements.

Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its parent, Now Interact Nordic AB, which may be obtained from Gamla Brogatan 11, 11120 Stockholm, Sweden. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

Page 3

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue represents the value of consideration receivable for the sale of management interactive platforms to customers, net of value added tax. Revenue is recognised when the significant risks and rewards of ownership, have passed to the buyer and the amount of revenue can be measured reliably. Revenue is recognised when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company. Other operating income is recognised in the period to which it relates.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into Sterling at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Taxation

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and is subject to an insignificant risk of change in value.

Page 4

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Payables

Trade and other payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the statement of income and retained earnings in the period in which they become payable.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Page 5

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024 (continued)

4

Property, plant and equipment

Computer equipment
 £

Cost

At 1 January 2024

5,849

At 31 December 2024

5,849

Depreciation

At 1 January 2024

5,849

At 31 December 2024

5,849

Carrying amount

At 31 December 2024

-

At 31 December 2023

-

5

Receivables

2024
£

2023
£

Prepayments

2,288

2,228

2,288

2,228

6

Cash and cash equivalents

2024
£

2023
£

Cash at bank

30,006

147,128

Page 6

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024 (continued)

7

Payables

2024
£

2023
£

Due within one year

Trade payables

3,419

1,232

Amounts owed to group undertaking

566,440

556,722

Social security and other taxes

20,528

20,854

Other payables

667

22,267

Accruals

2,100

2,100

Deferred income

10,560

-

603,714

603,175

The amount owed to the parent undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.

8

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained losses represents cumulative profits and losses net of dividends paid and other adjustments.

Page 7

 

Now Interact Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024 (continued)

9

Pension scheme

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £4,000 (2023 - £3,942).

Contributions totalling £667 (2023 - £667) were payable to the scheme at the end of the year and are included in creditors.

10

Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities the not to disclose transactions with entities that are wholly owned members of the group.There were no other related party transactions to disclose.

11

Parent and ultimate parent undertaking

The company's immediate parent is Now Interact Nordic AB, incorporated in Gamla Brogatan 11, 11120 Stockholm, Sweden.

 The most senior parent entity producing publicly available financial statements is Now Interact Nordic AB. These financial statements are available upon request from Gamla Brogatan 11, 11120 Stockholm, Sweden.

 The ultimate controlling party is Now Interact Nordic AB.

12

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

Page 8