REGISTERED NUMBER: 12352919 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2026

for

Inter Face IP Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S I Warrington

Ms H D Gray

REGISTERED OFFICE:

69 St Anne's Road

Headingly

Leeds

West Yorkshire

LS6 3NY

REGISTERED NUMBER:

12352919 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

River View

96 High Street

Garstang

Preston

Lancashire

PR3 1WZ

FIXED ASSETS

Intangible assets

4

286,102

354,031

Property, plant and equipment

5

14,373

8,052

Investments

6

200

200

300,675

362,283

CURRENT ASSETS

Debtors

7

84,997

109,045

Cash at bank

1,528,946

19,358

1,613,943

128,403

CREDITORS

Amounts falling due within one year

8

310,500

339,400

NET CURRENT ASSETS/(LIABILITIES)

1,303,443

(210,997

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,604,118

151,286

CREDITORS

Amounts falling due after more than one year

9

(3,254,315

)

(537,534

)

PROVISIONS FOR LIABILITIES

(2,731

)

-

NET LIABILITIES

(1,652,928

)

(386,248

)

CAPITAL AND RESERVES

Called up share capital

735

735

Share premium

999,758

999,758

Revaluation reserve

10

176,240

176,240

Share-based payment reserve

229,925

66,969

Retained earnings

(3,059,586

)

(1,629,950

)

SHAREHOLDERS' FUNDS

(1,652,928

)

(386,248

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th August 2026 and were signed on its behalf by:

Ms H D Gray - Director

1.	STATUTORY INFORMATION

Inter Face IP Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment loses.

Patents and licences are being amortised evenly over their estimated useful life of ten years but none in the year of revaluation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2025 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1st April 2025

and 31st March 2026

459,394

AMORTISATION

At 1st April 2025

105,363

Charge for year

67,929

At 31st March 2026

173,292

NET BOOK VALUE

At 31st March 2026

286,102

At 31st March 2025

354,031

Cost or valuation at 31st March 2026 is represented by:

Other

intangible

assets

£

Valuation in 2023

184,000

Valuation in 2025

219,894

Cost

55,500

459,394

The revaluation of IP was carried out in 2025 and was undertaken by a professional firm specialising in this area, who have no connection to the directors.

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1st April 2025

14,548

Additions

16,754

At 31st March 2026

31,302

DEPRECIATION

At 1st April 2025

6,496

Charge for year

10,433

At 31st March 2026

16,929

NET BOOK VALUE

At 31st March 2026

14,373

At 31st March 2025

8,052

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2025

and 31st March 2026

200

NET BOOK VALUE

At 31st March 2026

200

At 31st March 2025

200

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

31,908

74,223

Other debtors

53,089

34,822

84,997

109,045

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

113,810

105,595

Taxation and social security

19,595

31,169

Other creditors

177,095

202,636

310,500

339,400

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other creditors

3,254,315

537,534

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

3,254,315

537,534

10.

RESERVES

Revaluation

reserve

£

At 1st April 2025

and 31st March 2026

176,240

11.	RELATED PARTY DISCLOSURES

An inter company loan exists in current liabilities of £4,994 (2025 £24,670). This is between Inter Face IP Ltd and Demo Face Ltd. Demo Face Ltd is wholly owned by Inter Face IP Ltd, whose shareholders include Mr S Warrington and Ms H Gray.

An inter company loan exists in current liabilities of £43,708 (2025 £14,018). This is between Inter Face IP Ltd and Superla.tv Ltd. Superla.tv Ltd is wholly owned by Inter Face IP Ltd, whose shareholders include Mr S Warrington and Ms H Gray.

12.	POST BALANCE SHEET EVENTS

Included within long-term liabilities is an amount of £3,254,315 relating to convertible loan notes issued to several investors. The loan notes are expected to convert into equity during 2027. Upon conversion, the company's share capital and share premium will increase, with a corresponding reduction in liabilities. As a result, the company is expected to have positive net assets following the conversion. Had the conversion taken place at the balance sheet date of 31st March 2026, the company would have reported positive net assets at that date.

In July 2026, the company completed a capital reduction, whereby the amount of £999,758 standing to the credit of the share premium account was cancelled in full and transferred to the company's retained earnings account. The capital reduction took place after the reporting period and therefore has not been reflected in these financial statements.