Company Registration No. 10612788 (England and Wales)
Inv Group Holdings Limited
Unaudited accounts
for the year ended 31 October 2023
Inv Group Holdings Limited
Unaudited accounts
Contents
Inv Group Holdings Limited
Company Information
for the year ended 31 October 2023
Directors
A M Galvin
J F Galvin
J M Russell
P C T Zimmerman
G R Seddon
Company Number
10612788 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
United Kingdom
Inv Group Holdings Limited
Statement of financial position
as at 31 October 2023
Debtors
2,469,522
1,899,079
Cash at bank and in hand
273,938
233,263
Creditors: amounts falling due within one year
(2,452,027)
(1,876,892)
Net current assets
291,433
255,450
Net assets
292,013
255,930
Called up share capital
100
100
Profit and loss account
291,913
255,830
Shareholders' funds
292,013
255,930
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
G R Seddon
Director
Company Registration No. 10612788
Inv Group Holdings Limited
Notes to the Accounts
for the year ended 31 October 2023
Inv Group Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10612788. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Inv Group Holdings Limited
Notes to the Accounts
for the year ended 31 October 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
4
Investments
Subsidiary undertakings
Valuation at 1 November 2022
480
Valuation at 31 October 2023
580
The company holds 100% of the share capital in the following companies:
Invotra Limited*
Invuse Limited*
Inverifi Limited*
Invdev Limited*
Invotra Shared Services Limited*
Invotra Ireland Limited**
Invotra Inc***
*The registered office address for these companies is First Floor, 129 High Street, Guildford, Surrey, United Kingdom, GU1 3AA.
**The registered office address for Invotra Ireland Limited is Unit 2 -3 Village craft Centre, Gort na mona Drive, Cornelscourt, Dublin 18, Ireland.
***The registered office address for Invotra Inc is 201 Milwaukee St, Suite 200, Denver, CO 80206, USA.
Amounts falling due after more than one year
Amounts due from group undertakings etc.
2,358,787
1,766,278
Other debtors
110,735
132,801
Inv Group Holdings Limited
Notes to the Accounts
for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023
2022
Amounts owed to group undertakings and other participating interests
2,407,179
1,815,271
Taxes and social security
17,277
19,169
Amounts due from group undertakings are unsecured, non-interest bearing and repayable on demand.
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Average number of employees
During the year the average number of employees was 5 (2022: 5).