INVICTA DEVELOPMENTS LIMITED

Company Registration Number:
06888058 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

INVICTA DEVELOPMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

INVICTA DEVELOPMENTS LIMITED

Balance sheet

As at 31 August 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,469,053 0
Investments:   0 0
Total fixed assets: 1,469,053 0
Current assets
Stocks: 3,893,871 5,006,799
Debtors:   72,501 68,344
Cash at bank and in hand: 240,353 2,383
Investments:   0 0
Total current assets: 4,206,725 5,077,526
Creditors: amounts falling due within one year: 4 (672,436) (681,206)
Net current assets (liabilities): 3,534,289 4,396,320
Total assets less current liabilities: 5,003,342 4,396,320
Creditors: amounts falling due after more than one year: 5 (4,735,014) (4,504,079)
Provision for liabilities: 0 0
Total net assets (liabilities): 268,328 (107,759)
Capital and reserves
Called up share capital: 200 200
Share premium account: 16 16
Revaluation reserve:61,469,0530
Profit and loss account: (1,200,941) (107,975)
Shareholders funds: 268,328 (107,759)

The notes form part of these financial statements

INVICTA DEVELOPMENTS LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 August 2024
and signed on behalf of the board by:

Name: David Goodridge
Status: Director

The notes form part of these financial statements

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. The sale of property is recognised on legal completion.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and machinery 20% straight line Fixtures and fittings 20% straight line Other fixed assets 20% straight line

Other accounting policies

Work in Progress Work in progress is valued at the lower of cost and net realisable value. Costs include direct materials, direct labour costs and those overheads which have been incurred in bringing the work in progress to their present location and condition. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion. 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 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 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. Financial instruments The Company only enters into basic financial instruments 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 non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Finance Costs Finance costs are charged to the profit and loss account 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. Taxation Tax is recognised in the profit and loss account, 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.

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible Assets

Total
Cost £
At 01 September 2022 113,733
Additions 0
Disposals 0
Revaluations 1,469,053
Transfers 0
At 31 August 2023 1,582,786
Depreciation
At 01 September 2022 113,733
Charge for year 0
On disposals 0
Other adjustments 0
At 31 August 2023 113,733
Net book value
At 31 August 2023 1,469,053
At 31 August 2022 0

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

Trade creditors - 2023 £564,695 2022 £481,286 Corporation tax - 2023 £0 2022 £85,970 Prepayments - 2023 £60,000 2022 £0 Other creditors - 2023 £47,741 2022 £113,950 Total - 2023 £672,436 2022 £681,206

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Creditors: amounts falling due after more than one year note

Other creditors - 2023 £4,735,014 2022 £4,504,079

INVICTA DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

6. Revaluation reserve

2023
£
Balance at 01 September 2022 0
Surplus or deficit after revaluation 1,469,053
Balance at 31 August 2023 1,469,053