Registered number
07645845
Inventive Financial Solutions Limited
Report and Accounts
30 December 2021
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Inventive Financial Solutions Limited
Registered number: 07645845
Balance Sheet
as at 30 December 2021
Notes 2021 2020
£ £
Current assets
Debtors 3 872 872
Cash at bank and in hand 100 100
972 972
Net current assets 972 972
Net assets 972 972
Capital and reserves
Called up share capital 100 100
Profit and loss account 872 872
Shareholders' funds 972 972
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Beech
Director
Approved by the board on 4 February 2022
Inventive Financial Solutions Limited
Notes to the Accounts
for the year ended 30 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2021 2020
£ £
Other debtors 872 872
4 Related party transactions
During the financial year Inventive Financial Solutions Limited had transactions with Accountancy 4 Wealth Limited, a private company registered in England & Wales and a company in which Ian Beech is a director. All transactions were carried out at arm's length and at market value.
5 Controlling party
The company is controlled by its directors who are the shareholders.
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