Interact South East Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10773138 (England and Wales)

Financial Statements

for the Year Ended 31 December 2020

for

Interact South East Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms S Leff

S M Perring

R N Perring

Ms T S Squire

REGISTERED OFFICE:

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

REGISTERED NUMBER:

10773138 (England and Wales)

AUDITORS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Tangible assets

4

39,950

47,156

CURRENT ASSETS

Debtors

5

2,501,864

1,144,623

Cash at bank

109,116

18,365

2,610,980

1,162,988

CREDITORS

Amounts falling due within one year

6

808,091

281,623

NET CURRENT ASSETS

1,802,889

881,365

TOTAL ASSETS LESS CURRENT LIABILITIES

1,842,839

928,521

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

1,842,739

928,421

SHAREHOLDERS' FUNDS

1,842,839

928,521

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 27 September 2021 and were signed on its behalf by:

R N Perring - Director

1.	STATUTORY INFORMATION

Interact South East Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2020

23,988

20,476

49,448

93,912

Additions

-

-

15,158

15,158

At 31 December 2020

23,988

20,476

64,606

109,070

DEPRECIATION

At 1 January 2020

13,363

13,186

20,207

46,756

Charge for year

4,542

4,723

13,099

22,364

At 31 December 2020

17,905

17,909

33,306

69,120

NET BOOK VALUE

At 31 December 2020

6,083

2,567

31,300

39,950

At 31 December 2019

10,625

7,290

29,241

47,156

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed by group undertakings

2,501,264

1,132,727

Other debtors

600

11,896

2,501,864

1,144,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

2

30

Taxation and social security

296,755

122,907

Other creditors

511,334

158,686

808,091

281,623

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2020

928,421

Profit for the year

914,318

At 31 December 2020

1,842,739

9.	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

10.	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

2020

Interact CC Ltd

2,376,305

-

6,715,419

4,871,386

Interact North West Ltd

124,959

-

105,977

-

2019

Interact CC Ltd

1,131,798

-

3,882,253

3,065,382

Interact North West Ltd

929

-

774

-

11.	ULTIMATE CONTROLLING PARTY

The controlling party is R N Perring.