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REGISTERED NUMBER: 06871158 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

INITIALIZE LTD.

INITIALIZE LTD. (REGISTERED NUMBER: 06871158)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INITIALIZE LTD.

Company Information
FOR THE YEAR ENDED 31 October 2023







DIRECTORS: Mrs R C Fournier
Mr J R Fournier





REGISTERED OFFICE: 21 Mill Road
Llanishen
Cardiff
CF14 0XA





REGISTERED NUMBER: 06871158 (England and Wales)





ACCOUNTANTS: Total Back Office Solutions Limited
4th Floor Radius House
51 Clarendon Road
Watford
Hertfordshire
WD17 1HP

INITIALIZE LTD. (REGISTERED NUMBER: 06871158)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 42,505 6,047

CURRENT ASSETS
Debtors 5 1,374,602 1,191,286
Cash at bank and in hand 28,341 117,726
1,402,943 1,309,012
CREDITORS
Amounts falling due within one year 6 (295,359 ) (277,154 )
NET CURRENT ASSETS 1,107,584 1,031,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,150,089

1,037,905

CREDITORS
Amounts falling due after more than one
year

7

(21,637

)

(31,658

)

PROVISIONS FOR LIABILITIES (9,571 ) (1,149 )
NET ASSETS 1,118,881 1,005,098

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,118,781 1,004,998
SHAREHOLDERS' FUNDS 1,118,881 1,005,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INITIALIZE LTD. (REGISTERED NUMBER: 06871158)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




Mrs R C Fournier - Director



Mr J R Fournier - Director


INITIALIZE LTD. (REGISTERED NUMBER: 06871158)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 October 2023


1. STATUTORY INFORMATION

Initialize Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 2,400 9,520 - 4,325 16,245
Additions - 1,150 39,326 - 40,476
At 31 October 2023 2,400 10,670 39,326 4,325 56,721
DEPRECIATION
At 1 November 2022 2,400 5,074 - 2,724 10,198
Charge for year - 2,187 1,311 520 4,018
At 31 October 2023 2,400 7,261 1,311 3,244 14,216
NET BOOK VALUE
At 31 October 2023 - 3,409 38,015 1,081 42,505
At 31 October 2022 - 4,446 - 1,601 6,047

INITIALIZE LTD. (REGISTERED NUMBER: 06871158)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 October 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 540,393 235,053
Other debtors 813,469 956,233
Directors' current accounts 20,740 -
1,374,602 1,191,286

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 21,818 24,832
Corporation Tax 54,023 45,901
VAT 44,081 64,671
Other Creditors 175,437 141,750
295,359 277,154

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 21,637 31,658

8. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £250,000 (2022: £250,000) owed by Initialize Holdings, a
company in which J Fournier and R Fournier are directors and shareholders.

9. ULTIMATE CONTROLLING PARTY

The directors, by virtue of their shareholding, control the company.