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Company Registration No. 14513732 (England and Wales)
Invdev Limited Unaudited accounts for the period from 29 November 2022 to 31 October 2023
Invdev Limited Unaudited accounts Contents
Page
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Invdev Limited Company Information for the period from 29 November 2022 to 31 October 2023
Directors
P C T Zimmerman G R Seddon J Russell J F Galvin A M Galvin N Dube
Company Number
14513732 (England and Wales)
Registered Office
First Floor 129 High Street Guildford GU1 3AA UK
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Invdev Limited Statement of financial position as at 31 October 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
3,708 
Current assets
Debtors
837,607 
Creditors: amounts falling due within one year
(866,183)
Net current liabilities
(28,576)
Net liabilities
(24,868)
Capital and reserves
Called up share capital
100 
Profit and loss account
(24,968)
Shareholders' funds
(24,868)
For the period 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. 14513732
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Invdev Limited Notes to the Accounts for the period from 29 November 2022 to 31 October 2023
1
Statutory information
Invdev Limited is a private company, limited by shares, registered in England and Wales, registration number 14513732. The registered office is First Floor, 129 High Street, Guildford, GU1 3AA, UK.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The Group companies which make up the majority of the creditors balances will not recall their loans until such time the company has the funds to repay these and as such the accounts are prepared on a going concern basis.
Turnover
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.
Pension 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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Invdev Limited Notes to the Accounts for the period from 29 November 2022 to 31 October 2023
Taxation
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Financial instruments
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. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 tangible fixed assets. 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. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
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Invdev Limited Notes to the Accounts for the period from 29 November 2022 to 31 October 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 29 November 2022
- 
Additions
4,181 
At 31 October 2023
4,181 
Depreciation
Charge for the period
473 
At 31 October 2023
473 
Net book value
At 31 October 2023
3,708 
5
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
5,103 
Amounts due from group undertakings etc.
832,504 
837,607 
6
Creditors: amounts falling due within one year
2023 
£ 
VAT
27,179 
Trade creditors
41,727 
Amounts owed to group undertakings and other participating interests
796,903 
Taxes and social security
374 
866,183 
Amounts due from group undertakings are unsecured, non-interest bearing and repayable on demand.
7
Controlling party
The immediate parent and controlling party of the company is Inv Group Holdings Limited, a company registered in England and Wales. Its registered office address is the same as that of this company, which is shown on the company information page.
8
Average number of employees
During the period the average number of employees was 7.
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