4D Interactive Limited Filleted accounts for Companies House (small and micro)

4D INTERACTIVE LTD - Company Information

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COMPANY REGISTRATION NUMBER: 02676756

4D Interactive Limited

Filleted Unaudited Financial Statements

31 January 2022

4D Interactive Limited

Statement of Financial Position

31 January 2022

	2022	2021
Note	£	£

Fixed assets

Intangible assets	5	80,838	–
Tangible assets	6	135,086	88,415
Investments	7	101	101
		---------	--------
		216,025	88,516

Current assets

Debtors	8	5,627,324	3,715,618
Cash at bank and in hand		274,263	197,462
		------------	------------
		5,901,587	3,913,080

Creditors: amounts falling due within one year	9	5,633,829	3,462,081
		------------	------------
Net current assets		267,758	450,999
		---------	---------
Total assets less current liabilities		483,783	539,515

Provisions	21,223	–
	---------	---------
Net assets	462,560	539,515
	---------	---------

Capital and reserves

Called up share capital	103,850	103,850
Share premium account	161,700	161,700
Profit and loss account	197,010	273,965
	---------	---------
Shareholders funds	462,560	539,515
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

4D Interactive Limited

Statement of Financial Position (continued)

31 January 2022

These financial statements were approved by the board of directors and authorised for issue on 19 October 2022 , and are signed on behalf of the board by:

S Newton

Director

Company registration number: 02676756

4D Interactive Limited

Notes to the Financial Statements

Year ended 31 January 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is PO BOX 2814, 44 Bensham Grove, Thornton Heath, CR7 9FA, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Software licence	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	20% - 33% Straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 24 (2021: 24 ).

5. Intangible assets

	Software licence
	£
Cost
Additions	83,625
	--------
At 31 January 2022	83,625
	--------
Amortisation
Charge for the year	2,787
	--------
At 31 January 2022	2,787
	--------
Carrying amount
At 31 January 2022	80,838
	--------
At 31 January 2021	–
	--------

6. Tangible assets

	Plant and machinery
	£
Cost
At 1 February 2021	1,095,944
Additions	105,319
	------------
At 31 January 2022	1,201,263
	------------
Depreciation
At 1 February 2021	1,007,529
Charge for the year	58,648
	------------
At 31 January 2022	1,066,177
	------------
Carrying amount
At 31 January 2022	135,086
	------------
At 31 January 2021	88,415
	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 February 2021 and 31 January 2022	101
	----
Impairment
At 1 February 2021 and 31 January 2022	–
	----

Carrying amount
At 31 January 2022	101
	----
At 31 January 2021	101
	----

The subsidiary companies, all of which are registered in England, are as follows:

Name % Class of shares

Psychic Switchboard Limited 100% Ordinary

Psychic Live Services Limited 100% Ordinary

Candywall Limited 100% Ordinary

Excel Telemedia Limited 100% Ordinary

8. Debtors

	2022	2021
	£	£
Trade debtors	222,334	333,515
Amounts owed by group undertakings and undertakings in which the company has a participating interest	5,044,987	3,068,101
Other debtors	360,003	314,002
	------------	------------
	5,627,324	3,715,618
	------------	------------

9. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	186,797	102,619
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,963,328	2,829,324
Corporation tax	117,912	116,961
Social security and other taxes	184,431	228,225
Other creditors	181,361	184,952
	------------	------------
	5,633,829	3,462,081
	------------	------------

10. Contingencies

The company is a member of a group registration for value added tax purposes and, accordingly is jointly and severally liable for any such tax due by the representative member.

11. Related party transactions

The company is a wholly owned subsidiary of Intermediactive Acquisitions Limited. The ultimate parent company is Intermediactive Holdings Limited. During the year the company provided services to the value of £2,068,332 (2021: £2,123,410) to Psychic Switchboard Limited and purchased services to the value of £529,911 (2021: £597,033) from Candywall Limited and £991,338 (2021: £1,051,842) from Psychic Switchboard Limited. The companies are all fellow group companies, and wholly owned subsidiaries of Intermediactive Holdings Limited. During the year the company received dividends from its wholly owned subsidiary Candywall Limited of £350,000. The company paid dividends of £1,850,000 to Intermediactive Acquisitions Limited. The company received loans during the year from other group companies. The amount payable to other group companies at the year end was £4,963,328 (2021: £2,829,324) made up as follows:

	2022	2021
Candywall Limited	791,461	519,324
Psychic Live Services Limited	11,867	–
Intermediactive Acquisitions Limited	4,160,000	2,310,000
	------------	------------
Total	4,963,328	2,829,324
	------------	------------

The company also provided loans to group companies during the year. The amount receivable at the year end was £5,044,987 (2021:£3,068,101).

	2022	2021
	£	£
Intermediactive Holdings Limited	4,465,369	2,695,369
Excel Telemedia Limited	12,100	9,427
Psychic Switchboard Limited	567,518	355,787
Psychic Live Services Limited	–	7,518
	------------	------------
Total	5,044,987	3,068,101
	------------	------------

All loans are interest free and payable on demand. There are no other related party transactions.

12. Controlling party

The parent undertaking, Intermediactive Acquisitions Limited ("IMA") is a company registered in England and Wales. IMA is a wholly owned subsidiary of Intermediactive Holdings Limited ("IMH"). IMH is the ultimate controlling party.