| Interworks Europe Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Going concern |
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The director is committed to ensuring that the company continues to meet its liabilities as and when they fall due for a period of at least 12 months from the date of approval of these financial statements and therefore considers it appropriate that these financial statements be prepared on the going concern basis. |
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Turnover |
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Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of Licences - turnover from the sale of licences is recognised when the licence has been granted to the buyer, the amount of turnover can be measured reliably and it is probable that the economic benefits in respect of the transaction can be measured reliably. Consultancy Income - recognised immediately after the entity have provided the consultancy services. Commission - recognised when the buyer has purchased the licence from the vendor. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Leasehold land and buildings |
10% reducing balance |
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Motor vehicles |
10% reducing balance |
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Computer equipment |
33% reducing balance |
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Fixtures, fittings, tools and equipment |
25% reducing balance |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Financial Instruments |
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Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other receivable, cash and bank balances, are initially measured at their transaction price including transaction costs are subsequently carried at their amortised cost using the effective interest method, less any provision or impairment, unless the arrangement constitues a financial transaction, where the transaction is measured at the present value of the future recipts discounted at market rate of interest. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contact that evidence a residual interest in the assets of the Group after deduction of all its liabilities. Basic financial instruments, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financial transaction, whereby the debt intrument is measured at the present value of the future payments discounted at a market rate of interest. Discounted 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 payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non- current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Dividends |
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Equity dividends are payable when they become legally payable. Interim equity dividends are recognised when approved by the shareholders at an annual general meeting. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Michael R King |
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Firm: |
Stewart & Co LLP |
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Date of audit report: |
17 September 2026 |
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| 3 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
36 |
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36 |
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| 4 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 January 2025 |
6,224 |
|
152,729 |
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121,663 |
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280,616 |
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Additions |
- |
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40,554 |
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7,632 |
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48,186 |
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Disposals |
- |
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(61,215) |
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- |
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(61,215) |
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At 31 December 2025 |
6,224 |
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132,068 |
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129,295 |
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267,587 |
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Depreciation |
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At 1 January 2025 |
4,076 |
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80,416 |
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98,350 |
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182,842 |
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Charge for the year |
215 |
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28,855 |
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12,519 |
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41,589 |
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On disposals |
- |
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(48,340) |
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- |
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(48,340) |
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At 31 December 2025 |
4,291 |
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60,931 |
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110,869 |
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176,091 |
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Net book value |
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At 31 December 2025 |
1,933 |
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71,137 |
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18,426 |
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91,496 |
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At 31 December 2024 |
2,148 |
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72,313 |
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23,313 |
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97,774 |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
2,612,374 |
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1,931,663 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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512,575 |
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233,008 |
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Other debtors |
17,190 |
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22,908 |
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3,142,139 |
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2,187,579 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Trade creditors |
1,591,437 |
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1,550,010 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
222,134 |
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105,819 |
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Taxation and social security costs |
410,344 |
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331,897 |
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Other creditors |
1,374,480 |
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646,768 |
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3,598,395 |
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2,634,494 |
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| 7 |
Share capital |
2025 |
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2024 |
| £ |
£ |
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10,000 Ordinary shares of £0.01 each |
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100 |
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100 |
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100 |
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100 |
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| 8 |
Other financial commitments |
2025 |
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2024 |
| £ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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324,396 |
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160,962 |
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| 9 |
Related party transactions |
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The company has taken the exemption under FRS 102 section 33 Related Party Disclosures paragraph 33 1A whereby the company is not required to disclose transactions with other wholly owned group undertakings. During the year the Company paid £757,474 (2024 £962,944) for consultancy services and made sales of £357,6023 (2024 £388,380) to companies under common control. Balances from/to these companies at the balance sheet date in respect of these transactions amounted to £68,216 (2024 £40,346) and £122,285 (2024 £75,950) respectively and are included in trade debtors and trade creditors. |
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| 10 |
Controlling party |
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The immediate parent undertaking at 31 December 2025 was Interworks Europe Group Limited by virtue of its 100% shareholding in the company. The ultimate parent undertaking at 31 December 2025 was Interworks EMEA Limited. The address of its registered office is Unit 1, Christchurch Business Park, Radar Way, Christchurch, Dorset, BH23 4FL. The smallest group to draw up consolidated financial statements is Interworks EMEA Limited. The address of its registered office is Unit 1, Christchurch Business Park, Radar Way, Christchurch, Dorset, BH23 4FL. The ultimate controlling party is Behfar Jahanshahi. |
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| 11 |
Other information |
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Interworks Europe Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Unit 1 Christchurch Business Park |
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Radar Way |
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Christchursh |
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Dorset |
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BH23 4FL |