Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3022022-07-01falsemanagement services2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07246120 2022-07-01 2023-06-30 07246120 2021-07-01 2022-06-30 07246120 2023-06-30 07246120 2022-06-30 07246120 c:Director1 2022-07-01 2023-06-30 07246120 c:Director2 2022-07-01 2023-06-30 07246120 d:FurnitureFittings 2022-07-01 2023-06-30 07246120 d:FurnitureFittings 2023-06-30 07246120 d:FurnitureFittings 2022-06-30 07246120 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07246120 d:OfficeEquipment 2022-07-01 2023-06-30 07246120 d:OfficeEquipment 2023-06-30 07246120 d:OfficeEquipment 2022-06-30 07246120 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07246120 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07246120 d:CurrentFinancialInstruments 2023-06-30 07246120 d:CurrentFinancialInstruments 2022-06-30 07246120 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07246120 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07246120 d:ShareCapital 2023-06-30 07246120 d:ShareCapital 2022-06-30 07246120 d:RetainedEarningsAccumulatedLosses 2023-06-30 07246120 d:RetainedEarningsAccumulatedLosses 2022-06-30 07246120 c:FRS102 2022-07-01 2023-06-30 07246120 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07246120 c:FullAccounts 2022-07-01 2023-06-30 07246120 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07246120 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07246120 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 07246120 2 2022-07-01 2023-06-30 07246120 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 07246120










INVICTUS MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
INVICTUS MANAGEMENT LIMITED
REGISTERED NUMBER: 07246120

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,651
276

Investments
 5 
586,454
573,221

  
588,105
573,497

Current assets
  

Debtors: amounts falling due within one year
 6 
20,587
26,718

Cash at bank and in hand
 7 
274,761
264,396

  
295,348
291,114

Creditors: amounts falling due within one year
 8 
(38,041)
(42,402)

Net current assets
  
 
 
257,307
 
 
248,712

Total assets less current liabilities
  
845,412
822,209

Provisions for liabilities
  

Deferred tax
 9 
(413)
(69)

  
 
 
(413)
 
 
(69)

Net assets
  
844,999
822,140


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
843,999
821,140

  
844,999
822,140


Page 1

 
INVICTUS MANAGEMENT LIMITED
REGISTERED NUMBER: 07246120
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 







Mr M B Hunt
Mrs K A Hunt
Director
Director


Date: 8 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 07246120), is a privately owned company limited by shares. The registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

The estimated useful lives range as follows:

Fixtures and fittings
-
10% reducing balance
Office equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
153
1,888
2,041


Additions
-
2,249
2,249



At 30 June 2023

153
4,137
4,290



Depreciation


At 1 July 2022
121
1,644
1,765


Charge for the year on owned assets
3
871
874



At 30 June 2023

124
2,515
2,639



Net book value



At 30 June 2023
29
1,622
1,651



At 30 June 2022
32
244
276

Page 7

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 July 2022
573,221


Additions
15,000


Disposals
(1,767)



At 30 June 2023
586,454




Page 8

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
13,816
20,533

Prepayments and accrued income
6,771
6,185

20,587
26,718



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
274,761
264,396

274,761
264,396



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
16,276
21,518

Other taxation and social security
3,300
6,374

Other creditors
16,062
11,361

Accruals and deferred income
2,403
3,149

38,041
42,402


Page 9

 
INVICTUS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Deferred taxation




2023


£






At beginning of year
(69)


Charged to profit or loss
(344)



At end of year
(413)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(413)
(69)

(413)
(69)


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,000 (2022 - £12,000). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditor.

Page 10