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REGISTERED NUMBER: 10795460 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Invent Design Studio Limited

Invent Design Studio Limited (Registered number: 10795460)

Contents of the Financial Statements
for the year ended 31st May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Invent Design Studio Limited

Company Information
for the year ended 31st May 2024







DIRECTOR: Mr L Scales





SECRETARY:





REGISTERED OFFICE: The Colchester Centre
Hawkins Road
Colchester
Essex
CO2 8JX





REGISTERED NUMBER: 10795460 (England and Wales)





ACCOUNTANT: Paul David Nurton
Chartered Certified Accountant
2 Pinns Cottage
Rodhuish
Exmoor
Minehead
Somerset
TA24 6QL

Invent Design Studio Limited (Registered number: 10795460)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,124 32,634

CURRENT ASSETS
Debtors 5 57,930 28,753
Cash at bank and in hand 24,292 72,564
82,222 101,317
CREDITORS
Amounts falling due within one year 6 24,797 22,523
NET CURRENT ASSETS 57,425 78,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,549

111,428

CREDITORS
Amounts falling due after more than one
year

7

(16,712

)

(39,325

)

PROVISIONS FOR LIABILITIES (5,903 ) (5,903 )
NET ASSETS 42,934 66,200

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 42,834 66,100
SHAREHOLDERS' FUNDS 42,934 66,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Invent Design Studio Limited (Registered number: 10795460)

Balance Sheet - continued
31st May 2024


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 director and authorised for issue on 4th September 2024 and were signed by:





Mr L Scales - Director


Invent Design Studio Limited (Registered number: 10795460)

Notes to the Financial Statements
for the year ended 31st May 2024


1. STATUTORY INFORMATION

Invent Design Studio Limited 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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 (2023 - 2 ) .

Invent Design Studio Limited (Registered number: 10795460)

Notes to the Financial Statements - continued
for the year ended 31st May 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2023 3,506 9,419 32,704 22,496 68,125
Disposals - - (32,704 ) - (32,704 )
At 31st May 2024 3,506 9,419 - 22,496 35,421
DEPRECIATION
At 1st June 2023 3,506 3,034 13,080 15,871 35,491
Charge for year - 2,051 2,725 2,835 7,611
Eliminated on disposal - - (15,805 ) - (15,805 )
At 31st May 2024 3,506 5,085 - 18,706 27,297
NET BOOK VALUE
At 31st May 2024 - 4,334 - 3,790 8,124
At 31st May 2023 - 6,385 19,624 6,625 32,634

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 3,252 5,811
Other debtors 51,963 20,227
55,215 26,038

Amounts falling due after more than one year:
Other debtors 2,715 2,715

Aggregate amounts 57,930 28,753

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) (1 )
Taxation and social security 20,398 17,974
Other creditors 4,400 4,550
24,797 22,523

Invent Design Studio Limited (Registered number: 10795460)

Notes to the Financial Statements - continued
for the year ended 31st May 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,712 17,999
Hire purchase contracts - 21,326
16,712 39,325

8. RESERVES
Retained
earnings
£   

At 1st June 2023 66,100
Profit for the year 21,381
Dividends (44,647 )
At 31st May 2024 42,834

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
Mr L Scales
Balance outstanding at start of year 8,355 8,355
Amounts advanced 25,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,355 8,355

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr L Scales.