Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08844669 Mr M Mizrahy Dr Jose Miranda InMode Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08844669 2022-12-31 08844669 2023-12-31 08844669 2023-01-01 2023-12-31 08844669 frs-core:BetweenOneFiveYears 2023-12-31 08844669 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08844669 frs-core:MoreThanFiveYears 2023-12-31 08844669 frs-core:WithinOneYear 2023-12-31 08844669 frs-core:ShareCapital 2023-12-31 08844669 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08844669 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08844669 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 08844669 frs-bus:SmallEntities 2023-01-01 2023-12-31 08844669 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08844669 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08844669 1 2023-01-01 2023-12-31 08844669 frs-bus:Director1 2023-01-01 2023-12-31 08844669 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08844669 frs-countries:EnglandWales 2023-01-01 2023-12-31 08844669 2021-12-31 08844669 2022-12-31 08844669 2022-01-01 2022-12-31 08844669 frs-core:BetweenOneFiveYears 2022-12-31 08844669 frs-core:MoreThanFiveYears 2022-12-31 08844669 frs-core:WithinOneYear 2022-12-31 08844669 frs-core:ShareCapital 2022-12-31 08844669 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08844669
Invasix UK Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 08844669
2023 2022
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 507,981 495,629
Debtors 657,960 1,196,604
Cash at bank and in hand 1,558,605 1,561,009
2,724,546 3,253,242
Creditors: Amounts Falling Due Within One Year (2,677,904 ) (3,307,953 )
NET CURRENT ASSETS (LIABILITIES) 46,642 (54,711 )
TOTAL ASSETS LESS CURRENT LIABILITIES 46,642 (54,711 )
NET ASSETS/(LIABILITIES) 46,642 (54,711 )
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 46,542 (54,811 )
SHAREHOLDERS' FUNDS 46,642 (54,711)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr M Mizrahy
Director
11/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Invasix UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08844669 . The registered office is Unit 7 Oliver Business Park, Oliver Road, London, NW10 7JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance- Disposed
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2022: 13)
17 13
4. Tangible Assets
Total
£
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
6. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 60,000 60,000
Later than one year and not later than five years 195,000 210,000
Later than five years 142,500 187,500
397,500 457,500
7. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group, nor transactions with directors conducted at a market rate.
8. Ultimate Controlling Party
The company's ultimate controlling party is InMode Ltd by virtue of his ownership of 100% of the issued share capital in the company.
9.
Page 4
Page 5
Critical Accounting Estimates and Judgments
Estimates and judgments are continually evaluated and are based on historical experience and other factors. Including expectations of future events that ar ebelieved to be reasonable under the circumstances. 
The group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
Page 5