Intellectual Property Assets Strategic - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06755917 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Intellectual Property Assets Strategic

Management UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr P Axerio

REGISTERED OFFICE:

Unit 3 Cedar Court

1 Royal Oak Yard

London

SE1 3GA

REGISTERED NUMBER:

06755917 (England and Wales)

ACCOUNTANTS:

ElanTax.com

Unit 3 Cedar Court

1 Royal Oak Yard

London

SE1 3GA

FIXED ASSETS

Property, plant and equipment

4

495

974

CURRENT ASSETS

Debtors

5

52,401

51,429

Cash at bank

2,069

14,145

54,470

65,574

CREDITORS

Amounts falling due within one year

6

21,007

27,516

NET CURRENT ASSETS

33,463

38,058

TOTAL ASSETS LESS CURRENT LIABILITIES

33,958

39,032

CREDITORS

Amounts falling due after more than one year

7

11,171

11,500

NET ASSETS

22,787

27,532

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

22,687

27,432

SHAREHOLDERS' FUNDS

22,787

27,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2022 and were signed by:

Dr P Axerio - Director

1.	STATUTORY INFORMATION

Intellectual Property Assets Strategic Management UK 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.

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

Revenue 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.

Plant and machinery etc

-

33% 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

3,834

DEPRECIATION

At 1 January 2021

2,860

Charge for year

479

At 31 December 2021

3,339

NET BOOK VALUE

At 31 December 2021

495

At 31 December 2020

974

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

2,033

4,201

Amounts owed by group undertakings

50,368

47,228

52,401

51,429

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

1,084

704

Taxation and social security

122

57

Other creditors

19,801

26,755

21,007

27,516

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

11,171

11,500