Registered number
08884193
Intravita International Limited
Filleted Accounts
31 March 2023
Intravita International Limited
Registered number: 08884193
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 6,600 9,899
Tangible assets 4 631,205 556,610
637,805 566,509
Current assets
Stocks 190,821 178,676
Debtors 5 14,155 14,392
Investments held as current assets 6 48,828 -
Cash at bank and in hand 207 206
254,011 193,274
Creditors: amounts falling due within one year 7 (365,129) (256,141)
Net current liabilities (111,118) (62,867)
Total assets less current liabilities 526,687 503,642
Creditors: amounts falling due after more than one year 8 (297,035) (166,609)
Provisions for liabilities (37,752) (30,127)
Net assets 191,900 306,906
Capital and reserves
Called up share capital 300 300
Profit and loss account 191,600 306,606
Shareholders' funds 191,900 306,906
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.
V. Otto
Director
Approved by the board on 28 November 2023
Intravita International Limited
Notes to the Accounts
for the year ended 31 March 2023
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Premises 10% reducing value
Trade marks 25% straight line
Motor vehicles 25% reducing value
Equipment 25% reducing value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 13,199
At 31 March 2023 13,199
Amortisation
At 1 April 2022 3,300
Provided during the year 3,299
At 31 March 2023 6,599
Net book value
At 31 March 2023 6,600
At 31 March 2022 9,899
Trade marks are being written off in equal annual instalments over their estimated economic life of 4 years.
4 Tangible fixed assets
Land and buildings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 486,409 204,060 78,584 769,053
Additions 126,750 86,944 25,878 239,572
Disposals - - (26,451) (26,451)
At 31 March 2023 613,159 291,004 78,011 982,174
Depreciation
At 1 April 2022 88,363 96,672 27,408 212,443
Charge for the year 92,284 35,797 17,059 145,140
On disposals - - (6,614) (6,614)
At 31 March 2023 180,647 132,469 37,853 350,969
Net book value
At 31 March 2023 432,512 158,535 40,158 631,205
At 31 March 2022 398,046 107,388 51,176 556,610
5 Debtors 2023 2022
£ £
Trade debtors 14,155 14,392
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 48,828 -
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 19,413 125,363
Obligations under finance lease and hire purchase contracts 21,519 9,740
Amounts owed to group undertakings and undertakings in which the company has a participating interest 208,787 -
Taxation and social security costs 57,825 73,232
Other creditors 57,585 47,806
365,129 256,141
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 266,720 143,313
Obligations under finance lease and hire purchase contracts 30,315 23,296
297,035 166,609
9 Other information
Intravita International Limited is a private company limited by shares and incorporated in England. Its registered office is:
104 Oak Road
Tiptree
Colchester
CO5 0NA
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