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REGISTERED NUMBER: 11597111 (England and Wales)













NVENTIC LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






NVENTIC LTD (REGISTERED NUMBER: 11597111)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


NVENTIC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Dr M J Bardell





REGISTERED OFFICE: 62 Allison Road
London
United Kingdom
N8 0AT





REGISTERED NUMBER: 11597111 (England and Wales)





AUDITORS: John Crook & Partners
Statutory auditors
255 Green Lanes
Palmers Green
London
N13 4XE

NVENTIC LTD (REGISTERED NUMBER: 11597111)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,634 1,122

CURRENT ASSETS
Debtors 5 26,538 88,486
Cash at bank 149,803 115,792
176,341 204,278
CREDITORS
Amounts falling due within one year 6 33,288 48,135
NET CURRENT ASSETS 143,053 156,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,687

157,265

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 8 144,487 157,065
SHAREHOLDERS' FUNDS 144,687 157,265

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





Dr M J Bardell - Director


NVENTIC LTD (REGISTERED NUMBER: 11597111)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Nventic Ltd 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.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 1 (2022 - 1 ) .

NVENTIC LTD (REGISTERED NUMBER: 11597111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 2,065
Additions 1,018
At 31 December 2023 3,083
DEPRECIATION
At 1 January 2023 943
Charge for year 506
At 31 December 2023 1,449
NET BOOK VALUE
At 31 December 2023 1,634
At 31 December 2022 1,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,150 87,120
Value added tax 2,943 921
Called up share capital not paid 100 100
Prepayments 345 345
26,538 88,486

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 20,244 42,026
Social security and other taxes 514 423
Other creditors 11,769 4,486
Directors' loan accounts 761 1,200
33,288 48,135

NVENTIC LTD (REGISTERED NUMBER: 11597111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
940 Ordinary A £0.10 94 94
60 Ordinary B £0.10 6 6
100 100

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Deferred £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 January 2023 157,065
Profit for the year 73,822
Dividends (86,400 )
At 31 December 2023 144,487

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Woodgate (Senior Statutory Auditor)
for and on behalf of John Crook & Partners

10. RELATED PARTY DISCLOSURES

The company is controlled by Nventic GmbH, Kirtaweg 19, 81829 Munich. During the period the company raised invoices totalling £23,150 to Nventic GmbH (2022 - £Nil) . The balance owed to the company as at 31 December 2023 was £23,150 (2022 - £Nil).

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

In common with many other businesses of our size and nature we use our auditors to provide tax advice and to represent us, as necessary, at tax tribunals.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Daniel Weil.