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REGISTERED NUMBER: 06187743 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Invivo Clinical Limited

Invivo Clinical Limited (Registered number: 06187743)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Invivo Clinical Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D W Maree
N K Richards





REGISTERED OFFICE: The Coach House, Lewiston Mill
Toadsmoor Road
Brimscombe
Stroud
Gloucestershire
GL5 2TE





REGISTERED NUMBER: 06187743 (England and Wales)

Invivo Clinical Limited (Registered number: 06187743)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,820 21,198
Tangible assets 5 75,635 95,321
79,455 116,519

CURRENT ASSETS
Stocks 668,721 969,350
Debtors 6 296,849 163,433
Cash at bank and in hand 703,293 588,428
1,668,863 1,721,211
CREDITORS
Amounts falling due within one year 7 759,108 772,511
NET CURRENT ASSETS 909,755 948,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

989,210

1,065,219

CREDITORS
Amounts falling due after more than one
year

8

(228,122

)

(356,835

)

PROVISIONS FOR LIABILITIES (18,759 ) (17,237 )
NET ASSETS 742,329 691,147

CAPITAL AND RESERVES
Called up share capital 125 125
Share premium 2 2
Share option scheme reserve 10,899 8,283
Retained earnings 731,303 682,737
SHAREHOLDERS' FUNDS 742,329 691,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Invivo Clinical Limited (Registered number: 06187743)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





N K Richards - Director


Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Invivo Clinical Limited is a private company, limited by shares, registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings20% on straight line basis
Motor Vehicles25% on straight line basis
Computer equipment30% on straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2022 78,828
Reclassification/transfer (4,101 )
At 31 March 2023 74,727
AMORTISATION
At 1 April 2022 57,630
Amortisation for year 13,289
Reclassification/transfer (12 )
At 31 March 2023 70,907
NET BOOK VALUE
At 31 March 2023 3,820
At 31 March 2022 21,198

Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 142,260 13,718 50,872 206,850
Additions 15,627 - 5,933 21,560
Disposals (16,869 ) - - (16,869 )
Reclassification/transfer 22,682 (2,802 ) 1,842 21,722
At 31 March 2023 163,700 10,916 58,647 233,263
DEPRECIATION
At 1 April 2022 60,688 13,707 37,134 111,529
Charge for year 25,034 10 5,093 30,137
Eliminated on disposal (8,750 ) - - (8,750 )
Reclassification/transfer 21,364 (2,801 ) 6,149 24,712
At 31 March 2023 98,336 10,916 48,376 157,628
NET BOOK VALUE
At 31 March 2023 65,364 - 10,271 75,635
At 31 March 2022 81,572 11 13,738 95,321

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 146,626 75,353
Other debtors 31,079 27,938
Tax 58,332 -
Prepayments 60,812 60,142
296,849 163,433

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Other loans 80,987 74,109
Trade creditors 367,228 368,463
Tax - (36,365 )
Social security and other taxes 129,605 155,127
Other creditors 17,551 22,798
Accrued expenses 113,737 138,379
759,108 772,511

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 56,667 106,667
Other loans - 1-2 years 60,307 80,520
Other loans - 2-5 years 61,148 103,708
Other loans more 5yrs instal - 15,940
228,122 356,835

Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 15,940

9. SHARE-BASED PAYMENT TRANSACTIONS

EMI Scheme
The company operates a share based remuneration scheme for certain employees introduced in 2017. Under the scheme the board of directors can grant options over shares in the company to employees of the company. Options are granted with a fixed exercise price for the reporting date given the restricted market for the shares. The contractual life of an option is 10 years from the grant date.

Options granted under the share based remuneration schemes generally become exercisable on the first, second, third, fourth and fifth anniversary of the date of grant. Exercise of an option is subject to continued employment. Option values have been agreed with the share valuation department of HMRC taking into account the restricted market for the shares and the estimated forecast earnings as at the date of grant.

The expense recognised for share based payment plan in respect of employee services received during the year is (£429) (2022: (£471)).

The carrying amount of the liability relating to the equity-settled options at the balance sheet date is £10,899 (2022: £8,283). No equity settled options have vested in the year.

A reconciliation of option movements over the year is shown below:

20232022






Number
Weighted
average
exercise price



)



Number
Weighted
average
exercise price



)
Outstanding at 1 April23,0390.4920,1890.43
Granted12,4900.774,5000.77
Exercised----
Forfeited(20,789)0.48(1,650)0.54
Expired----
Outstanding at 31 March14,7400.7423,0390.49
Exercisable at 31 March2,0200.5515,1510.43
-