Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-01-01falseNo description of principal activity86truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09202521 2023-01-01 2023-12-31 09202521 2022-01-01 2022-12-31 09202521 2023-12-31 09202521 2022-12-31 09202521 c:Director1 2023-01-01 2023-12-31 09202521 c:Director2 2023-01-01 2023-12-31 09202521 c:RegisteredOffice 2023-01-01 2023-12-31 09202521 d:PlantMachinery 2023-01-01 2023-12-31 09202521 d:PlantMachinery 2022-12-31 09202521 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09202521 d:MotorVehicles 2023-01-01 2023-12-31 09202521 d:MotorVehicles 2022-12-31 09202521 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09202521 d:OfficeEquipment 2023-01-01 2023-12-31 09202521 d:OfficeEquipment 2022-12-31 09202521 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09202521 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09202521 d:CurrentFinancialInstruments 2023-12-31 09202521 d:CurrentFinancialInstruments 2022-12-31 09202521 d:Non-currentFinancialInstruments 2023-12-31 09202521 d:Non-currentFinancialInstruments 2022-12-31 09202521 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09202521 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09202521 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09202521 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09202521 d:ShareCapital 2023-12-31 09202521 d:ShareCapital 2022-12-31 09202521 d:RetainedEarningsAccumulatedLosses 2023-12-31 09202521 d:RetainedEarningsAccumulatedLosses 2022-12-31 09202521 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09202521 c:OrdinaryShareClass1 2023-12-31 09202521 c:OrdinaryShareClass1 2022-12-31 09202521 c:FRS102 2023-01-01 2023-12-31 09202521 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09202521 c:FullAccounts 2023-01-01 2023-12-31 09202521 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09202521 d:PlantMachinery d:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09202521 d:MotorVehicles d:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09202521 d:OfficeEquipment d:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09202521 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 09202521 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 09202521 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 09202521 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 09202521 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09202521 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09202521 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 09202521 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 09202521 d:LeasedAssetsHeldAsLessee 2023-12-31 09202521 d:LeasedAssetsHeldAsLessee 2022-12-31 09202521 e:PoundSterling 2023-01-01 2023-12-31 09202521 d:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09202521










Invicta Generators Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Invicta Generators Limited
 

Company Information


Directors
Mr G Sellers 
Mrs K Sellers 




Registered number
09202521



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
Invicta Generators Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Invicta Generators Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Invicta Generators Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Invicta Generators Limited, as a body, in accordance with the terms of our engagement letter dated 6 August 2024Our work has been undertaken solely to prepare for your approval the financial statements of Invicta Generators Limited and state those matters that we have agreed to state to the Board of directors of Invicta Generators Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Invicta Generators Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Invicta Generators Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Invicta Generators Limited. You consider that Invicta Generators Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Invicta Generators Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
6 August 2024
Page 1

 
Invicta Generators Limited
Registered number: 09202521

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
84,877
72,118

  
84,877
72,118

Current assets
  

Debtors: amounts falling due within one year
 4 
108,562
116,479

Cash at bank and in hand
  
60,602
31,422

  
169,164
147,901

Creditors: amounts falling due within one year
 5 
(105,839)
(67,674)

Net current assets
  
 
 
63,325
 
 
80,227

Total assets less current liabilities
  
148,202
152,345

Creditors: amounts falling due after more than one year
 6 
(27,265)
(31,339)

Provisions for liabilities
  

Deferred tax
 8 
(21,219)
(18,030)

  
 
 
(21,219)
 
 
(18,030)

Net assets
  
99,718
102,976


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
99,618
102,876

  
99,718
102,976


Page 2

 
Invicta Generators Limited
Registered number: 09202521

Balance sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr G Sellers
Director
Date: 6 August 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.General information and accounting policies

Invicta Generators Limited is a private company limited by shares and is incorporated in England and Wales. The registered office address is 37 St. Margaret's Street, Canterbury, Kent CT1 2TU. The principal place of business is Unit 12 Westwood Business Park, Strasbourg Street, Margate, CT9 4JJ.
The principal activity of the company is the maintenance and installation of industrial generators. 
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 4

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.General information and accounting policies (continued)


1.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods detailed below.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
20%
reducing balance
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
1.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
1.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 5

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.General information and accounting policies (continued)

 
1.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


2.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 6).






Page 6

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

3.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 January 2023
6,488
101,312
12,822
120,622


Additions
1,990
33,555
-
35,545


Disposals
(379)
-
(2,242)
(2,621)



At 31 December 2023
8,099
134,867
10,580
153,546



Depreciation


At 1 January 2023
6,200
33,156
9,148
48,504


Charge for the year on owned assets
684
20,341
1,408
22,433


Disposals
(379)
-
(1,889)
(2,268)



At 31 December 2023
6,505
53,497
8,667
68,669



Net book value



At 31 December 2023
1,594
81,370
1,913
84,877



At 31 December 2022
288
68,156
3,674
72,118

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
70,606
56,034

70,606
56,034


4.


Debtors

2023
2022
£
£


Trade debtors
94,877
85,231

Other debtors
3,589
6,463

Prepayments and accrued income
10,096
24,785

108,562
116,479


Page 7

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
180

Corporation tax
17,854
18,063

Other taxation and social security
38,456
8,842

Obligations under finance lease and hire purchase contracts
25,445
20,701

Other creditors
19,406
15,422

Accruals and deferred income
4,678
4,466

105,839
67,674



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
27,265
31,339

27,265
31,339



7.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
25,445
20,701

Between 1-5 years
27,265
31,339

52,710
52,040

Page 8

 
Invicta Generators Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

8.


Deferred taxation




2023


£






At beginning of year
(18,030)


Charged to profit or loss
(3,189)



At end of year
(21,219)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(21,219)
(18,030)

(21,219)
(18,030)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

All directors' remuneration and other transactions with related parties paid by the company during the year were done so under normal market conditions.
Included within other creditors is a balance owing to the directors in the sum of £18,142 (2022: £14,018).


11.


Controlling party

The company is controlled by G and K Sellers by virtue of their combined 100% shareholding.


Page 9