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Registration number: 13781196

Invenir Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Invenir Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Invenir Ltd

Company Information

Directors

T H Abraham-James

N L Herbert

J Ferrier

Registered office

5 Chancery Lane
London
WC2A 1LG

Accountants

Fuller & Roper Limited
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

Invenir Ltd

(Registration number: 13781196)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

735

735

Current assets

 

Debtors

5

187,231

204,126

Creditors: Amounts falling due within one year

6

(5,376)

(14,291)

Net current assets

 

181,855

189,835

Net assets

 

182,590

190,570

Capital and reserves

 

Called up share capital

7

51,275

51,275

Share premium reserve

240,100

240,100

Retained earnings

(108,785)

(100,805)

Shareholders' funds

 

182,590

190,570

For the financial year ending 30 September 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 16 April 2024 and signed on its behalf by:
 

.........................................
T H Abraham-James
Director

 

Invenir Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

Invenir Ltd is a private company, limited by shares, incorporated in England & Wales. The address of the registered office is given in the company information on page 1 of these financial statements.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that access to the required funding for the company to meet its obligations as they fall due is available.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Invenir Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

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 0 (2022 - 0).

4

Investments

Subsidiaries

£

Cost or valuation

At 1 October 2022

735

At 30 September 2023

735

Provision

At 30 September 2023

-

Carrying amount

At 30 September 2023

735

At 30 September 2022

735

The company controlls 100% of the common stock of Keewaydin Resources Inc., a company incorporated in the United States.

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings

8

187,231

196,774

Prepayments

 

-

7,352

 

187,231

204,126

 

Invenir Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

13,556

Amounts owed to group undertakings

8

5,376

-

Other creditors

 

-

735

 

5,376

14,291

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.001 each

51,275,000

51,275

51,275,000

51,275

         

8

Related party transactions

As the company is a wholly owned subsidiary of Pulsar Helium Inc., it has taken advantage of the exemption contained within FRS 102 'Related Party Disclosures' and therefore, not disclosed transactions or balances with entities which are wholly owned members of the group.

9

Parent and ultimate parent undertaking

The company's immediate parent is Pulsar Helium Inc., incorporated in Canada.