Invicta Ratio London Limited 31/01/2019 iXBRL

Invicta Ratio London Limited 31/01/2019 iXBRL

INVICTA RATIO LONDON LIMITED - Company Information

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31/01/2019 2019-01-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-02-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 07910279 2018-02-01 2019-01-31 07910279 2019-01-31 07910279 2018-01-31 07910279 2017-02-01 2018-01-31 07910279 2018-01-31 07910279 core:FurnitureFittingsToolsEquipment 2018-02-01 2019-01-31 07910279 bus:Director1 2018-02-01 2019-01-31 07910279 core:FurnitureFittingsToolsEquipment 2018-01-31 07910279 core:FurnitureFittingsToolsEquipment 2019-01-31 07910279 core:WithinOneYear 2019-01-31 07910279 core:WithinOneYear 2018-01-31 07910279 core:ShareCapital 2019-01-31 07910279 core:ShareCapital 2018-01-31 07910279 core:RetainedEarningsAccumulatedLosses 2019-01-31 07910279 core:RetainedEarningsAccumulatedLosses 2018-01-31 07910279 core:CostValuation core:Non-currentFinancialInstruments 2018-01-31 07910279 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2019-01-31 07910279 core:Non-currentFinancialInstruments 2018-01-31 07910279 core:FurnitureFittingsToolsEquipment 2018-01-31 07910279 bus:SmallEntities 2018-02-01 2019-01-31 07910279 bus:AuditExempt-NoAccountantsReport 2018-02-01 2019-01-31 07910279 bus:FullAccounts 2018-02-01 2019-01-31 07910279 bus:SmallCompaniesRegimeForAccounts 2018-02-01 2019-01-31 07910279 bus:PrivateLimitedCompanyLtd 2018-02-01 2019-01-31
Company registration number: 07910279
Invicta Ratio London Limited
Unaudited filleted financial statements
31 January 2019
Invicta Ratio London Limited
Contents
Statement of financial position
Notes to the financial statements
Invicta Ratio London Limited
Statement of financial position
31 January 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 680 908
Investments 6 - 8,541
_______ _______
680 9,449
Current assets
Debtors 7 28 12,000
Cash at bank and in hand 3,764 888
_______ _______
3,792 12,888
Creditors: amounts falling due
within one year 8 ( 68,920) ( 59,354)
_______ _______
Net current liabilities ( 65,128) ( 46,466)
_______ _______
Total assets less current liabilities ( 64,448) ( 37,017)
_______ _______
Net liabilities ( 64,448) ( 37,017)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 64,449) ( 37,018)
_______ _______
Shareholder deficit ( 64,448) ( 37,017)
_______ _______
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 October 2019 , and are signed on behalf of the board by:
Mr M Rutherford
Director
Company registration number: 07910279
Invicta Ratio London Limited
Notes to the financial statements
Year ended 31 January 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Laurel Way, Chartham, Canterbury, Kent, CT4 7TJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue to trade for the foreseeable future, despite the existence of net liabilities at the balance sheet date. The validity of the going concern basis is dependent on the continued support of the director. The director is of the opinion that such support will continue.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 February 2018 and 31 January 2019 1,361 1,361
_______ _______
Depreciation
At 1 February 2018 454 454
Charge for the year 227 227
_______ _______
At 31 January 2019 681 681
_______ _______
Carrying amount
At 31 January 2019 680 680
_______ _______
At 31 January 2018 907 907
_______ _______
6. Investments
Investments in Subsidiary Total
£ £
Cost
At 1 February 2018 8,541 8,541
Disposals ( 8,541) ( 8,541)
_______ _______
At 31 January 2019 - -
_______ _______
Impairment
At 1 February 2018 and 31 January 2019 - -
_______ _______
Carrying amount
At 31 January 2019 - -
_______ _______
At 31 January 2018 8,541 8,541
_______ _______
7. Debtors
2019 2018
£ £
Trade debtors 28 12,000
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Social security and other taxes 21 2,189
Other creditors 68,899 57,165
_______ _______
68,920 59,354
_______ _______
9. Related party transactions
Included within Other Creditors is a loan from the director of £54,616 (2018 £43,472) and £11,064 (2018 £11,064) due to a company also under the control of the director. These balances are interest free and unsecured.