ACCOUNTS - Final Accounts

INVC MANAGEMENT LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31No description of principal activity2021-04-01false45falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09319576 2021-04-01 2022-03-31 09319576 2020-04-01 2021-03-31 09319576 2022-03-31 09319576 2021-03-31 09319576 c:Director4 2021-04-01 2022-03-31 09319576 d:CurrentFinancialInstruments 2022-03-31 09319576 d:CurrentFinancialInstruments 2021-03-31 09319576 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09319576 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 09319576 d:ShareCapital 2022-03-31 09319576 d:ShareCapital 2021-03-31 09319576 d:CapitalRedemptionReserve 2021-04-01 2022-03-31 09319576 d:CapitalRedemptionReserve 2022-03-31 09319576 d:CapitalRedemptionReserve 2021-03-31 09319576 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 09319576 d:RetainedEarningsAccumulatedLosses 2022-03-31 09319576 d:RetainedEarningsAccumulatedLosses 2021-03-31 09319576 c:OrdinaryShareClass1 2021-04-01 2022-03-31 09319576 c:OrdinaryShareClass1 2022-03-31 09319576 c:OrdinaryShareClass1 2021-03-31 09319576 c:OrdinaryShareClass2 2021-04-01 2022-03-31 09319576 c:OrdinaryShareClass2 2022-03-31 09319576 c:OrdinaryShareClass2 2021-03-31 09319576 c:OrdinaryShareClass3 2021-04-01 2022-03-31 09319576 c:OrdinaryShareClass3 2022-03-31 09319576 c:OrdinaryShareClass3 2021-03-31 09319576 c:OrdinaryShareClass4 2021-04-01 2022-03-31 09319576 c:OrdinaryShareClass4 2022-03-31 09319576 c:OrdinaryShareClass4 2021-03-31 09319576 c:FRS102 2021-04-01 2022-03-31 09319576 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 09319576 c:FullAccounts 2021-04-01 2022-03-31 09319576 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 09319576 6 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09319576

INVC MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

INVC MANAGEMENT LIMITED

REGISTERED NUMBER: 09319576

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		560,180		560,180
			560,180		560,180
Current assets
Debtors: amounts falling due within one year	5	525		505
Cash at bank and in hand	6	5,531		2,894
		6,056		3,399
Creditors: amounts falling due within one year	7	(288,928)		(288,868)
Net current liabilities			(282,872)		(285,469)
Total assets less current liabilities			277,308		274,711

Net assets			277,308		274,711

Capital and reserves
Called up share capital	8	74,766	69,926
Capital redemption reserve	9	2,090	6,930
Profit and loss account	9	200,452	197,855
		277,308	274,711

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INVC MANAGEMENT LIMITED

REGISTERED NUMBER: 09319576

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by

S M T Wray

Director

Date: 5 December 2022

The notes on pages 3 to 6 form part of these financial statements.

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INVC MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

INVC Management Limted is a private company, limited by shares and incorporated in England and Wales. The registered office is: 899 Plymouth Road, Slough, Berkshire, SL1 4LP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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INVC MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 5).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2021	560,180
	At 31 March 2022	560,180

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INVC MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Debtors

					2022	2021
					£	£


Other debtors	-	106
Deferred taxation	525	399
	525	505

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	5,531	2,894
	5,531	2,894

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Amounts owed to group undertakings	286,828	286,828
Accruals and deferred income	2,100	2,040
	288,928	288,868

8.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

20,960 (2021 - 20,960) Ordinary A shares of £1.00 each	20,960	20,960
25,600 (2021 - 25,600) Ordinary B shares of £1.00 each	25,600	25,600
12,480 (2021 - 12,480) Ordinary C shares of £1.00 each	12,480	12,480
15,726 (2021 - 10,886) Ordinary D shares of £1.00 each	15,726	10,886

	74,766	69,926

During the year 4,840 shares held in treasury were purchased and classed as Ordinary D shares.

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INVC MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Reserves

Capital redemption reserve

Capital redemption reserve represents the purchase of the Company's own shares out of distributable profits.

Profit & loss account

Profit and loss account represents the cumulative total of profits less losses and any distributions.

10.	Controlling party

The Company is controlled by its directors.

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