Interact North West Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08119083

Financial Statements

for the Year Ended 31 December 2021

for

Interact North West Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R N Perring

N M Barber

S M Perring

REGISTERED OFFICE:

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

REGISTERED NUMBER:

08119083

AUDITORS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Tangible assets

3

288,126

270,529

CURRENT ASSETS

Stocks

-

43,159

Debtors

4

3,675,991

2,817,824

Cash at bank

136,670

154,473

3,812,661

3,015,456

CREDITORS

Amounts falling due within one year

5

739,731

1,145,175

NET CURRENT ASSETS

3,072,930

1,870,281

TOTAL ASSETS LESS CURRENT LIABILITIES

3,361,056

2,140,810

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

3,360,956

2,140,710

SHAREHOLDERS' FUNDS

3,361,056

2,140,810

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 21 September 2022 and were signed on its behalf by:

R N Perring - Director

N M Barber - Director

1.	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.

Turnover

Turnover 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.

Land and buildings

-

25% on cost

Plant and machinery etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Going concern

At the time of approving the financial statements, the directors have undertaken an assessment of the adequacy of the resources available to the company and have taken into account the impact of the coronavirus on the company as well as the expected support to businesses available from the government measures in place through the period of disruption caused by coronavirus. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2020 - 12 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2021

85,318

244,113

405,851

735,282

Additions

68,835

24,453

99,649

192,937

At 31 December 2021

154,153

268,566

505,500

928,219

DEPRECIATION

At 1 January 2021

54,162

174,575

236,016

464,753

Charge for year

25,755

51,867

97,718

175,340

At 31 December 2021

79,917

226,442

333,734

640,093

NET BOOK VALUE

At 31 December 2021

74,236

42,124

171,766

288,126

At 31 December 2020

31,156

69,538

169,835

270,529

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed by group undertakings

3,622,628

2,776,798

Other debtors

53,363

41,026

3,675,991

2,817,824

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

84,241

68,705

Taxation and social security

166,699

398,247

Other creditors

488,791

678,223

739,731

1,145,175

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)

for and on behalf of PB Associates

8.	RELATED PARTY DISCLOSURES

Detailed transactions involving sales, purchases, trade debtors and trade creditor balances involving group companies, are separately listed as follows:

Related Party

Debtor

Creditor

Sales

Purchases

2021

Interact CC Ltd

3,727,397

-

12,380,970

8,688,499

Interact South East Ltd

-

106,634

-

455,101

2020

Interact CC Ltd

2,901,757

-

9,611,553

6,552,265

Interact South East Ltd

-

124,959

-

105,977

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R N Perring.