Inventas Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03500039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

INVENTAS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M McNiven

REGISTERED OFFICE:

2 Norbury Road

Reigate

Surrey

RH2 9BY

REGISTERED NUMBER:

03500039 (England and Wales)

ACCOUNTANTS:

David Beckman & Co Ltd

62 The Street

Ashtead

Surrey

KT21 1AT

BANKERS:

LloydsTSB Plc

Horley Branch

11 High Street

Horley

Surrey

RH6 7BJ

FIXED ASSETS

Tangible assets

5

18,710

24,659

CURRENT ASSETS

Stocks

2,189

22,941

Debtors

6

118,966

237,733

Investments

7

138,070

92,956

Cash at bank

95,025

57,223

354,250

410,853

CREDITORS

Amounts falling due within one year

8

100,787

142,976

NET CURRENT ASSETS

253,463

267,877

TOTAL ASSETS LESS CURRENT LIABILITIES

272,173

292,536

CREDITORS

Amounts falling due after more than one year

9

(16,490

)

(13,224

)

PROVISIONS FOR LIABILITIES

(4,321

)

-

NET ASSETS

251,362

279,312

CAPITAL AND RESERVES

Called up share capital

110

110

Capital redemption reserve

30

30

Retained earnings

251,222

279,172

SHAREHOLDERS' FUNDS

251,362

279,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 December 2019 and were signed by:

Mr M McNiven - Director

1.	STATUTORY INFORMATION

Inventas Limited 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.

The presentation currency of the financial statements is Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from the standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires management to exercise judgement

in applying the company accounting policies and the use of certain critical

accounting estimates.

The items in the financial statements where these judgement and estimates have been made include:

Judgements

- The method of arriving at the advanced income on support contracts.

Estimates

- The useful life of fixed assets.

Changes in accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and have also been consistently applied within the same

accounts.

Income recognition

Turnover represents the net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration based on the extent

to which work has been performed.

Income from the sale of goods is recognised when goods have been delivered to customers such that the risks

and rewards of ownership have transferred to them.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over

their expected useful lives as follows:.

- Improvements to property - 10% on cost

- Fixtures & fittings - 20% on cost

- Motor vehicles - 25% on cost

- Computer equipment - 33% on cost

Impairment of Assets

At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

been recognised for the asset in prior years.

All impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to sell, after making due

allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans and hire purchase.

Basic financial liabilities, including creditors and bank loans that are classified as debt. are initially recognised as

transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities

classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a UK statutory workplace pension scheme. Contributions are recognised as an expense in

the period in which they are incurred.

Current asset investments

Current asset investments are stated at market value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price. Advances from factored debts are included in trade

creditors.

Operating Leases

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are

received.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

107,373

Additions

1,679

At 31 March 2019

109,052

DEPRECIATION

At 1 April 2018

82,714

Charge for year

7,628

At 31 March 2019

90,342

NET BOOK VALUE

At 31 March 2019

18,710

At 31 March 2018

24,659

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

23,562

DEPRECIATION

At 1 April 2018

10,308

Charge for year

3,314

At 31 March 2019

13,622

NET BOOK VALUE

At 31 March 2019

9,940

At 31 March 2018

13,254

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

69,796

136,869

Other debtors

49,170

100,864

118,966

237,733

7.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Listed investments

138,070

92,956

Historic cost of listed investments at 31 March 2019 is £31,215 (2018 - £31,215).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

5,831

-

Hire purchase contracts

3,537

3,377

Trade creditors

30,670

71,724

Taxation and social security

41,211

50,913

Other creditors

19,538

16,962

100,787

142,976

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

6,803

-

Hire purchase contracts

9,687

13,224

16,490

13,224