Silverfin false 30/04/2023 01/05/2022 30/04/2023 Ms E Shilova 08/04/2022 12 October 2023 The principal activities of the Company during the financial year was Patents and Copyrights, Management consultancy and Translation and interpretation services. 14036227 2023-04-30 14036227 bus:Director1 2023-04-30 14036227 core:CurrentFinancialInstruments 2023-04-30 14036227 core:ShareCapital 2023-04-30 14036227 core:RetainedEarningsAccumulatedLosses 2023-04-30 14036227 core:OfficeEquipment 2022-04-30 14036227 core:ComputerEquipment 2022-04-30 14036227 2022-04-30 14036227 core:OfficeEquipment 2023-04-30 14036227 core:ComputerEquipment 2023-04-30 14036227 2022-05-01 2023-04-30 14036227 bus:FullAccounts 2022-05-01 2023-04-30 14036227 bus:SmallEntities 2022-05-01 2023-04-30 14036227 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 14036227 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 14036227 bus:Director1 2022-05-01 2023-04-30 14036227 core:OfficeEquipment core:TopRangeValue 2022-05-01 2023-04-30 14036227 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 14036227 core:OfficeEquipment 2022-05-01 2023-04-30 14036227 core:ComputerEquipment 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 14036227 (England and Wales)

IP PATENTICA LIMITED

Unaudited Financial Statements
For the financial period ended 30 April 2023
Pages for filing with the registrar

IP PATENTICA LIMITED

Unaudited Financial Statements

For the financial period ended 30 April 2023

Contents

IP PATENTICA LIMITED

BALANCE SHEET

As at 30 April 2023
IP PATENTICA LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023
£
Fixed assets
Tangible assets 3 2,485
2,485
Current assets
Debtors 4 111,701
Cash at bank and in hand 173,760
285,461
Creditors: amounts falling due within one year 5 ( 287,776)
Net current liabilities (2,315)
Total assets less current liabilities 170
Provision for liabilities 6 ( 621)
Net liabilities ( 451)
Capital and reserves
Called-up share capital 100
Profit and loss account ( 551 )
Total shareholder's deficit ( 451)

For the financial period ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of IP Patentica Limited (registered number: 14036227) were approved and authorised for issue by the Director on 12 October 2023. They were signed on its behalf by:

Ms E Shilova
Director
IP PATENTICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 April 2023
IP PATENTICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

IP Patentica Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Flat 9 111 Church Road, Richmond, TW10 6LS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 May 2022 0 0 0
Additions 516 2,870 3,386
At 30 April 2023 516 2,870 3,386
Accumulated depreciation
At 01 May 2022 0 0 0
Charge for the financial period 102 799 901
At 30 April 2023 102 799 901
Net book value
At 30 April 2023 414 2,071 2,485

4. Debtors

2023
£
Trade debtors 111,461
Other debtors 240
111,701

5. Creditors: amounts falling due within one year

2023
£
Trade creditors 223,196
Taxation and social security 47,517
Other creditors 17,063
287,776

6. Provision for liabilities

2023
£
Deferred tax 621