Innovative Design Technologies (UK) Limited - Period Ending 2022-12-31

Innovative Design Technologies (UK) Limited

Profit and Loss Account for the Year Ended 31 December 2022

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Innovative Design Technologies (UK) Limited

(Registration number: 07280076)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Investments	3	1	1
Current assets
Debtors	4	1	1
Creditors: Amounts falling due within one year	5	(1)	(1)
Net current assets/(liabilities)		-	-
Net assets		1	1
Capital and reserves
Called up share capital		1	1
Shareholders' funds		1	1

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 September 2023 and signed on its behalf by:
 

......................................... Mr JC Smith Director

Innovative Design Technologies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pilot Mill
Alfred Street
Bury
Lancashire
BL9 9JR
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that the company is included within the consolidated financial statements of their parent, Trumeter Group Limited..

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Innovative Design Technologies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

3	Investments

	2022 £	2021 £
Investments in subsidiaries	1	1

Subsidiaries	£
Cost or valuation
At 1 January 2022	1
Provision
Carrying amount
At 31 December 2022	1
At 31 December 2021	1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
Innovative Design Technologies Sdn BHD	Lot 5881 Lorong IKS Bukit Minyak Satu Taman Perindustrian IKS Pulau Bukit Tengah 14000 Bukit Minyak Pulau Pinang Malaysia	Ordinary	90%	90%

The country of registration and operation is Malaysia.

Subsidiary undertakings

Innovative Design Technologies Sdn BHD The principal activity of Innovative Design Technologies Sdn BHD is the manufacturing of control instruments.

Innovative Design Technologies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Debtors

Current		2022 £	2021 £
Owed by group undertakings		1	1

5

Creditors

		2022 £	2021 £
Due within one year
Owed to group undertakings		1	1

6	Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Trumeter Group Limited, incorporated in England & Wales.

The address of Trumeter Group Limited is:
Pilot Mill
Alfred Street
Bury
Lancashire
England
BL9 9JR

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A. These accounts are consolidated within the group financial statements prepared by Trumeter Group Limited.