Invicta Ratio London Limited 31/01/2018 iXBRL

INVICTA RATIO LONDON LIMITED - Company Information

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Company registration number: 07910279

Invicta Ratio London Limited

Unaudited financial statements

31 January 2018

Invicta Ratio London Limited

Contents

Directors and other information

Director's report

Accountants report

Statement of comprehensive income

Statement of financial position

Notes to the financial statements

Invicta Ratio London Limited

Directors and other information


	Director	Mr M Rutherford


	Company number	07910279


	Registered office	29 Laurel Way
		Chartham
		Canterbury
		Kent
		CT4 7TJ


	Business address	29 Laurel Way
		Chartham
		Canterbury
		CT4 7TJ


	Accountants	Rimmer & May
		19 Murray Street
		Llanelli
		SA15 1AQ




	Bankers	HSBC
		9 Rose Lane
		Canterbury
		CT1 2JP

Invicta Ratio London Limited

Director's report

Year ended 31 January 2018

The director presents his report and the unaudited financial statements of the company for the year ended 31 January 2018.

Director

The director who served the company during the year was as follows:

Mr M Rutherford

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 05 October 2018 and signed on behalf of the board by:

Mr M Rutherford

Director

Invicta Ratio London Limited

Chartered accountants report to the director on the preparation of the

unaudited statutory financial statements of Invicta Ratio London Limited

Year ended 31 January 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Invicta Ratio London Limited for the year ended 31 January 2018 which comprise the statement of comprehensive income, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.

This report is made solely to the director of Invicta Ratio London Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Invicta Ratio London Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Invicta Ratio London Limited and its director as a body for our work or for this report.

It is your duty to ensure that Invicta Ratio London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Invicta Ratio London Limited. You consider that Invicta Ratio London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Invicta Ratio London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rimmer & May

Chartered Accountants

19 Murray Street

Llanelli

SA15 1AQ

Invicta Ratio London Limited

Statement of comprehensive income

Year ended 31 January 2018

		2018	2017
	Note	£	£


Turnover		-	10,000
Administrative expenses		( 11,682)	( 12,674)
		_______	_______
Operating loss		( 11,682)	( 2,674)

		_______	_______
Loss before taxation	5	( 11,682)	( 2,674)

Tax on loss		-	-
		_______	_______
Loss for the financial year and total comprehensive income		( 11,682)	( 2,674)
		_______	_______

All the activities of the company are from continuing operations.

Invicta Ratio London Limited

Statement of financial position

31 January 2018

		2018		2017
	Note	£	£	£	£

Fixed assets
Tangible assets	6	908		396
Investments	7	8,541		7,066
		_______		_______
			9,449		7,462

Current assets
Debtors	8	12,000		12,000
Cash at bank and in hand		888		1,219
		_______		_______
		12,888		13,219
Creditors: amounts falling due
within one year	9	( 59,354)		( 46,016)
		_______		_______
Net current liabilities			( 46,466)		( 32,797)
			_______		_______
Total assets less current liabilities			( 37,017)		( 25,335)

			_______		_______
Net liabilities			( 37,017)		( 25,335)
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			( 37,018)		( 25,336)
			_______		_______
Shareholder deficit			( 37,017)		( 25,335)
			_______		_______

For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 05 October 2018 , and are signed on behalf of the board by:

Mr M Rutherford

Director

Company registration number: 07910279

Invicta Ratio London Limited

Notes to the financial statements

Year ended 31 January 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Laurel Way, Chartham, Canterbury, Kent, CT4 7TJ.

2. Statement of compliance

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

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue to trade for the foreseeable future, despite the existence of net liabilities at the balance sheet date. The validity of the going concern basis is dependent on the continued support of the director. The director is of the opinion that such support will continue.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

On the basis of these financial statements no provision has been made for corporation tax .

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Loss before taxation

Loss before taxation is stated after charging/(crediting):

	2018	2017
	£	£
Depreciation of tangible assets	154	132
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 February 2017	696	696
Additions	666	666
	_______	_______
At 31 January 2018	1,362	1,362
	_______	_______
Depreciation
At 1 February 2017	300	300
Charge for the year	154	154
	_______	_______
At 31 January 2018	454	454
	_______	_______
Carrying amount
At 31 January 2018	908	908
	_______	_______
At 31 January 2017	396	396
	_______	_______

7. Investments

	Investments in Subsidiary	Total
	£	£
Cost
At 1 February 2017	7,066	7,066
Additions	1,475	1,475
	_______	_______
At 31 January 2018	8,541	8,541
	_______	_______
Impairment
At 1 February 2017 and 31 January 2018	-	-
	_______	_______
Carrying amount
At 31 January 2018	8,541	8,541
	_______	_______
At 31 January 2017	7,066	7,066
	_______	_______

8. Debtors

	2018	2017
	£	£
Trade debtors	12,000	12,000
	_______	_______

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	2,189	2,368
Other creditors	57,165	43,648
	_______	_______
	59,354	46,016
	_______	_______

10. Related party transactions

Included within Other Creditors is a loan from the director of £43,472 (2017 £29,885) and £11,064 (2017 £11,064) and £1,890 (2017 £ 2,092) due to companies also under the control of the director. These balances are interest free and unsecured.