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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
COMPANY INFORMATION
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INNTEL LIMITED
CONTENTS
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INNTEL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report of the company for the year ended 31 December 2025.
Business review
The Directors are pleased to report another year of strong financial and operational performance during 2025, with growth achieved across all key areas of the business. Total client spend increased by 5% to £97 million (2024: £93 million), reflecting continued confidence in the Company's services, the strength of client relationships and the successful execution of its long-term growth strategy. Growth was delivered across each of the Company's principal service lines. In bookings, Meetings and Events increased by 8%, Groups by 40%, accommodation bookings by 6%, and business travel transactions by 24%. The differential between booking volume growth and overall client spend reflects the continued value and cost savings delivered to clients through the Company's procurement expertise, technology solutions and supplier network. The Company continues to strengthen its position as a leading independently owned travel, meetings and events management business. Strong relationships with clients, suppliers and employees remain central to its success, enabling the delivery of consistently high service levels while creating sustainable value for all stakeholders. Investment throughout the year remained focused on enhancing scalable infrastructure, strengthening leadership capability and further developing the Company's technology platforms. These investments support future growth, improve operational efficiency, enhance the client experience and strengthen long-term client retention. Investment in our people remains fundamental to the Company's success. Throughout 2025, colleagues continued to benefit from comprehensive learning and development programmes delivered through the Inntel Academy alongside specialist external training providers. Professional qualifications, leadership development, apprenticeships, and structured career pathways ensure employees possess the knowledge and expertise required to deliver exceptional customer service whilst supporting individual career progression. The Company remains a proud member of The 5% Club, reaffirming its commitment to developing future talent through apprenticeship, graduate and sponsored learning programmes. This continued investment supports the attraction, development, and retention of highly skilled colleagues capable of supporting the Company's future growth ambitions.
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INNTEL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
As a certified B Corporation, responsible business continues to be embedded throughout the Company's operations, governance, and decision-making. The Company has further strengthened its Environmental, Social and Governance (ESG) proposition during the year through continued investment in enhanced sustainability reporting, improved carbon measurement capabilities and additional tools to help clients better understand, manage, and reduce the environmental impact of their travel programmes.
Client retention remains exceptionally strong, with approximately 97% of existing clients retained during the year. In addition, the Company secured several significant strategic new business wins across both the public and private sectors, further strengthening its market position and providing a robust pipeline of future opportunities. The financial performance achieved during 2025 reflects the continued commitment of the Shareholders, Board of Directors, Senior Leadership Team and colleagues across the business. Ongoing investment in people, technology, innovation and customer experience has strengthened the Company's competitive position and created a scalable platform capable of supporting sustained long-term growth. Looking ahead, the Directors remain confident in the Company's outlook. The business enters 2026 with a strong balance sheet, an expanding client portfolio, proprietary technology, a skilled and engaged workforce and a clear strategic roadmap for growth. Further investment in people, technology, sustainability and operational resilience is planned throughout 2026.
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INNTEL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
In considering future risks to the business, the loss of any client would be undesirable; however, no single client accounts for more than 12% of Inntel’s volumes, with the average contribution across the client portfolio being 1.1%. Long-standing client relationships and contractual notice periods provide the business with appropriate time to respond to any contract termination. The Directors therefore believe client concentration risk remains appropriately managed.
Inntel has very robust and regularly tested business continuity procedures, which are tested at least twice a year. They include off-site facilities, which if necessary, can be invoked at short notice, enabling Inntel to be fully operational within 2 hours. The Company does not involve itself in any derivative or other financial instrument nor is there any exposure to foreign exchange rates. Due to the nature of the financial instruments used by the Company there is no exposure to price risk. The Company’s approach to managing other risks applicable to the financial instruments concerned is shown below. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. Trade debtors are managed in respect of credit and cash flow risk by the implementation of suitable credit control procedures, where receivable balances are closely monitored on an ongoing basis for both time and credit limits. All liabilities are covered through credit insurance ensuring zero exposure to the risk of bad debts. Trade creditors liquidity risks are managed by ensuring sufficient funds are available to meet amounts due. Cyber security, data protection and operational resilience remain key areas of focus. The Company continues to invest in security infrastructure, employee awareness training, business continuity arrangements and system resilience to safeguard client data and ensure the reliable delivery of services in an increasingly digital environment. The Company continues to maintain strong independent credit ratings, reflecting its financial stability and prudent financial management. At the year end, the Company held a Dun & Bradstreet Minimum Risk rating with a Probability of Failure of 0.17%, together with an Experian rating of 100/100.
EBITDA: £1.3m (2024: £1.1m)
EBITDA / Turnover: 13.5% (2024: 12.2%) Current Ratio: 2.3 (2024: 2.3)
Complaints / Transactions - 0.02% (2024: 0.01%)
This report was approved by the board on 10 September 2026 and signed on its behalf.
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INNTEL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £633,414 (2024 - £688,225).
Dividends in respect of 2025 year end were paid in the year totalling £591,190 (2024 - £535,550)
The directors who served during the year were:
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INNTEL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors remain confident in the Company's prospects and believe the business is well positioned to deliver sustainable long-term growth. The Company enters 2026 with a strong financial position, a skilled workforce, a differentiated technology platform and a diversified client base, providing a robust foundation for continued success.
During 2025, the Board reaffirmed the Company's long-term strategic direction through a refreshed four-year growth strategy focused on sustainable expansion, technology enhancement, operational excellence and scalable capability. The strategy underpins the Company's ambition to grow responsibly while continuing to deliver value for clients, colleagues, suppliers and shareholders. The Directors believe that the Company's independent ownership continues to represent a significant strategic advantage, enabling long-term decision-making, sustained reinvestment in the business and agility in responding to changing market conditions. Success will continue to be measured not only by financial performance, but also by the positive and lasting impact the Company creates for its clients, employees, suppliers, communities and the environment.
There have been no significant events affecting the Company since the year end.
This report was approved by the board on
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INNTEL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INNTEL LIMITED
We have audited the financial statements of Inntel Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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INNTEL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INNTEL LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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INNTEL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INNTEL LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management around actual and potential litigation and claims;
∙Enquiry of staff to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
∙Reviewing minutes of meetings of those charged with governance; and
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
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INNTEL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INNTEL LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
London, United Kingdom
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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INNTEL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
REGISTERED NUMBER: 02287518
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 29 form part of these financial statements.
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INNTEL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Inntel Limited is a private company limited by shares and incorporated in England and Wales, registered number 02287518. The registered office is located at Inntel House, Threshelfords Business Park, Inworth Road, Feering, Essex, CO5 9SE.
The financial statements are rounded to the nearest £.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Inntel Group Limited as at 31 December 2025 and these financial statements may be obtained from Inntel House, Threshelfords Business Park, Inworth Road, Feering Essex, CO5 9SE.
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
For revenue earned from the sale of travel bookings on behalf of the customer, the company is considered a principal as it has exposure to the significant risks and rewards of providing the booking service. For these bookings, the revenue represents the gross value of the ticket sales to customers, less the value of refunds issued and excluding Value Added Tax.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Functional and presentation currency
Transactions and balances
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Management has assessed the following key areas of estimation and judgement: Software development To substantiate the carrying value of the capitalised development costs, management have applied the criteria of Section 18 of FRS 102 and have assessed the future economic benefits which will be achieved from this investment. Estimation uncertainty and judgement is required when distinguishing the research and development phases of the new projects, determining whether the recognition requirements for capitalisation of the development costs have been met and whether any impairment indicators exist. Agency Transactions Where the company acts as an agent, undertaking transactions whereby costs directly pass through from customer to supplier, an asset is only recognised once cash relating to said transaction has been received. An equal and opposite liability is recognised within Creditors: amounts falling due within one year.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 25
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Profit and loss account
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 represents contributions payable by the company to the fund and amounted to £120,171 (2024: £196,148). Contributions totaling £Nil (2024: £Nil) were payable to the fund at the year end and are included in other creditors.
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INNTEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
At 31 December 2025, the company's immediate parent company was Inntel Holdings Limited, a company incorporated in England and Wales. The ultimate parent company was Inntel Group Limited, a company incorporated in England and Wales.
The smallest and largest group of which the results of the company are consolidated in is that headed by Inntel Group Limited. Copies of the consolidated financial statements of Inntel Group Limited can be obtained from Companies House, Crown Way, Maindy, Cardiff. The ultimate controlling party is Mr D J O'Neill by virtue of his majority shareholding in the ultimate parent company, Inntel Group Limited.
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