General Information
Isorf Ltd is a private company, limited by shares, registered in England and Wales, registration number 15385931, registration address 298 Regents Park Road, Marlborough House London, N3 2SZ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in compliance with Financial Reporting Standards 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of the section 1 A "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.
Going concern basis
The directors believe that the company is experiencing a positive trend in sales and growth thanks to the addition of a new customer segment, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebtaes, value added tax and other sales tax.
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comphrensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of the tax payable using the tax rules and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting 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 period 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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at fair value less any accumulated amortisation and any accumulated impairment losses.
Convertible Loans
The company issued unsecured conditional convertible loan note during 2024 with a maturity date of 19 March 2025.
|
| 2. |
Directors' Emoluments
|
2026
£ |
|
2025
£ |
|
Administrative Expenses
|
| Directors Salaries |
7,500 |
|
7,500 |
|
7,500 |
|
7,500 |
|
| 3. |
Average number of employees
Average number of employees during the year was 0 (2025 : 0).
|
| 4. |
Intangible fixed assets
| Cost |
Other |
|
Total |
| |
£ |
|
£ |
| At 01 February 2025 |
2,684,405 |
|
2,684,405 |
| Additions |
113,201 |
|
113,201 |
| Disposals |
- |
|
- |
| Revaluations |
1,202,394 |
|
1,202,394 |
| At 31 January 2026 |
4,000,000 |
|
4,000,000 |
| Amortisation |
| At 01 February 2025 |
- |
|
- |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 January 2026 |
- |
|
- |
| Net book values |
| At 31 January 2026 |
4,000,000 |
|
4,000,000 |
| At 31 January 2025 |
2,684,405 |
|
2,684,405 |
As at 31 January 2026, the directors considered these intangible assets to have a fair value of £4,000,000.
|
| 5. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
10,127
Ordinary shares of £1.00 each |
10,127 |
|
10,127 |
|
10,127 |
|
10,127 |
|
2
|