Invicta Worldwide Group Limited Filleted accounts for Companies House (small and micro)

INVICTA WORLDWIDE GROUP LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07810702

Invicta Worldwide Group Limited

Filleted Unaudited Financial Statements

31 December 2022

Invicta Worldwide Group Limited

Financial Statements

Year ended 31 December 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Invicta Worldwide Group Limited

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Investments	5		101	101

Current assets

Cash at bank and in hand	1,000,743		1,000,789

Creditors: amounts falling due within one year	6	380,001		380,001
		------------		------------
Net current assets			620,742	620,788
			---------	---------
Total assets less current liabilities			620,843	620,889
			---------	---------

Capital and reserves

Called up share capital	92	100
Capital redemption reserve	8	–
Profit and loss account	620,743	620,789
	---------	---------
Shareholders funds	620,843	620,889
	---------	---------

These 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 statement of comprehensive income has not been delivered.

For the year ending 31 December 2022 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 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 financial statements .

These financial statements were approved by the board of directors and authorised for issue on 4 October 2023 , and are signed on behalf of the board by:

Mr A Shearer

Director

Company registration number: 07810702

Invicta Worldwide Group Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7- 9 Hawley Square, Margate, Kent, CT9 1PF.

2. Statement of compliance

These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Invicta Worldwide Group Limited . As such, advantage has been taken of the disclosure exemptions available under paragraph 1.12 of FRS 102 and no cashflow statement has been presented for the company.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

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.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2).

5. Investments

	Other investments other than loans
	£
Cost
At 1 January 2022 and 31 December 2022	101
	----
Impairment
At 1 January 2022 and 31 December 2022	–
	----

Carrying amount
At 31 December 2022	101
	----
At 31 December 2021	101
	----

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	1	1
Amounts owed to group undertakings	380,000	380,000
	---------	---------
	380,001	380,001
	---------	---------

7. Related party transactions

At the year end the company owed £380,000 (2021: £380,000) to a group company.

8. Controlling party

The company was under the control of Mr A Shearer throughout the current and previous year.