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IVF 2.0 Limited

Registration number : 11491283



















Annual Report and Unaudited Financial Statements

for the year ended 31 July 2023

 

IVF 2.0 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

IVF 2.0 Limited

Company Information

Directors

Mr Andrew John Drakeley

Dr Jacques Cohen

Mr Alan Murray

Registered office

10 Fitzroy Square
London
Greater London
W1T 5HP

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

IVF 2.0 Limited

(Registration number: 11491283)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

1,469

1,679

Tangible assets

6

2,740

3,143

 

4,209

4,822

Current assets

 

Debtors

7

33,701

19,958

Cash at bank and in hand

 

203,623

15,986

 

237,324

35,944

Creditors: Amounts falling due within one year

8

(524,702)

(13,135)

Net current (liabilities)/assets

 

(287,378)

22,809

Net (liabilities)/assets

 

(283,169)

27,631

Capital and reserves

 

Called up share capital

12,000

12,000

Share premium reserve

247,100

247,100

Profit and loss account

(542,269)

(231,469)

Total equity

 

(283,169)

27,631

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
Mr Andrew John Drakeley
Director

.........................................
Dr Jacques Cohen
Director

.........................................
Mr Alan Murray
Director

     
 

IVF 2.0 Limited

Notes to the Unaudited Financial Statements for the year ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
10 Fitzroy Square
London
Greater London
W1T 5HP

These financial statements were authorised for issue by the Board on 3 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

IVF 2.0 Limited

Notes to the Unaudited Financial Statements for the year ended 31 July 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

33% reducing balance

Computer and software equipment

33% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Development

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

IVF 2.0 Limited

Notes to the Unaudited Financial Statements for the year ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax adjustment to prior periods

-

(10,143)

 

IVF 2.0 Limited

Notes to the Unaudited Financial Statements for the year ended 31 July 2023

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2022

2,099

2,099

At 31 July 2023

2,099

2,099

Amortisation

At 1 August 2022

420

420

Amortisation charge

210

210

At 31 July 2023

630

630

Carrying amount

At 31 July 2023

1,469

1,469

At 31 July 2022

1,679

1,679

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2022 - £-).
 

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

7,001

7,001

Additions

951

951

At 31 July 2023

7,952

7,952

Depreciation

At 1 August 2022

3,858

3,858

Charge for the year

1,354

1,354

At 31 July 2023

5,212

5,212

Carrying amount

At 31 July 2023

2,740

2,740

At 31 July 2022

3,143

3,143

 

IVF 2.0 Limited

Notes to the Unaudited Financial Statements for the year ended 31 July 2023

7

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

19,802

75

Other debtors

 

9,081

19,694

Prepayments

 

4,818

189

 

33,701

19,958

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

597

597

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

273

Accruals and deferred income

 

15,400

11,665

Other creditors

 

508,705

600

 

524,702

13,135

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £0.01 each

600,000

6,000

590,000

5,900

Ordinary B shares of £0.01 each

600,000

6,000

600,000

6,000

Ordinary shares of £0 (2022 - £0.01) each

-

-

10,000

100

 

1,200,000

12,000

1,200,000

12,000