Registered number: 11726085
INTROVERSION SOFTWARE HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
31 DECEMBER 2021
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01483 755 399
hamlyns.com
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INTROVERSION SOFTWARE HOLDINGS LIMITED
REGISTERED NUMBER: 11726085
BALANCE SHEET
AS AT 31 DECEMBER 2021
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 September 2022.
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INTROVERSION SOFTWARE HOLDINGS LIMITED
REGISTERED NUMBER: 11726085
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
The notes on pages 4 to 6 form part of these financial statements.
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INTROVERSION SOFTWARE HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
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Comprehensive income for the year
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The notes on pages 4 to 6 form part of these financial statements.
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Page 3
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INTROVERSION SOFTWARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Introversion Software Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and office address can be found on the Company Information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Preparation of consolidated financial statements
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The financial statements contain information about Introversion Software Holdings Limited as an induvidual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirement to prepare consolidated financial statements.
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Investments in subsidaries
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Investments in subsidaries are held at historical cost less any applicable provision for impairment.
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 substantivley enacted by the balance sheet date.
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 substantivley enacted by the year and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets 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.
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INTROVERSION SOFTWARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2.Accounting policies (continued)
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
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The average monthly number of employees, including directors, during the year was 0 (2020 - 0).
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Shares in group undertakings
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The company holds 100% of the share capital of Introversion Software Limited, a company registered in the UK.
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Creditors: Amounts falling due within one year
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Included in other creditors are interest loans of £714,000 from the directors of the company (2020: £1,785,000).
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Page 5
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INTROVERSION SOFTWARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Creditors: Amounts falling due after more than one year
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Page 6
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