Invinceus Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: SC459364

Invinceus Ltd

Filleted Unaudited Abridged Financial Statements

31 March 2023

Invinceus Ltd

Abridged Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Current Assets

Debtors	178,437	35,021
Cash at bank and in hand	3,129	70,716
	---------	---------
	181,566	105,737

Creditors: amounts falling due within one year	37,798		23,451
	---------		---------
Net Current Assets		143,768	82,286
		---------	--------
Total Assets Less Current Liabilities		143,768	82,286
		---------	--------
Net Assets		143,768	82,286
		---------	--------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	143,668	82,186
	---------	--------
Shareholders Funds	143,768	82,286
	---------	--------

These abridged 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 Section 1A of 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

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

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

Invinceus Ltd

Abridged Statement of Financial Position (continued)

31 March 2023

These abridged financial statements were approved by the board of directors and authorised for issue on 14 June 2023 , and are signed on behalf of the board by:

Mr P Rushton

Director

Company registration number: SC459364

Invinceus Ltd

Notes to the Abridged Financial Statements

Year Ended 31 March 2023

1. General Information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Office 8, 5 West Victoria Dock Road, Dundee, DD1 3JT.

2. Statement of Compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The directors consider that the financial prospects for the company from the date of approval of these accounts justify the continuation of the use of going concern basis in the preparation of these accounts.

Going Concern

The company has net assets of £151,868 (2022 - £82,286). The director acknowledges the ongoing pandemic and confirms that the financial statements are prepared on a going concern basis. In coming to this conclusion, the director forecasts a profitable forthcoming 12 months.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Corporation Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial Instruments

A financial asset or a financial liability is recognised only when the entity 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.

4. Related Party Transactions

Mr Paul Rushton was the managing director during the period. The company operated an intercompany loan account with Invinceus Group Limited and at the year end was due to receive £170,502 (2022 - £27,502). The loan has no set repayment terms or interest accruing, however are repayable on demand to the related party.

5. Controlling Party

During the year the company was under the control of Invinceus Group Limited, a company incorporated in Scotland.