Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activityfalse2023-04-01false1010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01981938 2023-04-01 2024-03-31 01981938 2022-04-01 2023-03-31 01981938 2024-03-31 01981938 2023-03-31 01981938 2022-04-01 01981938 c:Director4 2023-04-01 2024-03-31 01981938 d:OfficeEquipment 2023-04-01 2024-03-31 01981938 d:OfficeEquipment 2024-03-31 01981938 d:OfficeEquipment 2023-03-31 01981938 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01981938 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 01981938 d:OtherPropertyPlantEquipment 2024-03-31 01981938 d:OtherPropertyPlantEquipment 2023-03-31 01981938 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01981938 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01981938 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 01981938 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 01981938 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 01981938 d:ComputerSoftware 2024-03-31 01981938 d:ComputerSoftware 2023-03-31 01981938 d:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 01981938 d:CurrentFinancialInstruments 2024-03-31 01981938 d:CurrentFinancialInstruments 2023-03-31 01981938 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01981938 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01981938 d:ShareCapital 2024-03-31 01981938 d:ShareCapital 2023-03-31 01981938 d:RetainedEarningsAccumulatedLosses 2024-03-31 01981938 d:RetainedEarningsAccumulatedLosses 2023-03-31 01981938 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01981938 c:OrdinaryShareClass1 2024-03-31 01981938 c:OrdinaryShareClass1 2023-03-31 01981938 c:FRS102 2023-04-01 2024-03-31 01981938 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01981938 c:FullAccounts 2023-04-01 2024-03-31 01981938 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01981938 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 01981938 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 01981938 d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 01981938 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01981938 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01981938 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 01981938 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 01981938 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01981938 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01981938 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01981938










INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024



 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
REGISTERED NUMBER: 01981938

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
                                                                      Note
£
£

Fixed assets
  

Intangible assets
 3 
1,685
2,088

Tangible assets
 4 
41,332
32,958

  
43,017
35,046

Current assets
  

Debtors: amounts falling due within one year
 5 
509,006
510,615

Cash at bank and in hand
 6 
255,257
229,908

  
764,263
740,523

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(82,893)
(93,284)

Net current assets
  
 
 
681,370
 
 
647,239

Total assets less current liabilities
  
724,387
682,285

Provisions for liabilities
  

Deferred tax
 8 
(9,038)
(5,621)

  
 
 
(9,038)
 
 
(5,621)

Net assets
  
715,349
676,664


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
715,347
676,662

  
715,349
676,664


Page 1

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
REGISTERED NUMBER: 01981938

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 comprehensive income 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: 



................................................
S M T Wray
Director

Date: 15 October 2024

Page 2

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Industrial Noise & Vibration Centre Limited is private company, limited by share capital and incorporated in England and Wales. The address of its registered office is: 889 Plymouth Road, Slough, Berkshire, SL1 4LP.

2.Accounting policies

 
2.1

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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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.

Page 3

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
5
years
Website
-
10
years

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Other fixed assets
-
25%

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

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.

Page 5

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Intangible assets




Patents
Website
Total

£
£
£



Cost


At 1 April 2023
4,689
3,113
7,802


Additions
160
-
160



At 31 March 2024

4,849
3,113
7,962



Amortisation


At 1 April 2023
4,158
1,556
5,714


Charge for the year on owned assets
252
311
563



At 31 March 2024

4,410
1,867
6,277



Net book value



At 31 March 2024
439
1,246
1,685



At 31 March 2023
531
1,557
2,088



Page 6

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
403,260
2,682
405,942


Additions
18,356
-
18,356



At 31 March 2024

421,616
2,682
424,298



Depreciation


At 1 April 2023
372,272
712
372,984


Charge for the year on owned assets
9,490
492
9,982



At 31 March 2024

381,762
1,204
382,966



Net book value



At 31 March 2024
39,854
1,478
41,332



At 31 March 2023
30,988
1,970
32,958


5.


Debtors

2024
2023
£
£


Trade debtors
222,178
223,470

Amounts owed by group undertakings
286,828
286,828

Other debtors
-
317

509,006
510,615



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
255,257
229,908


Page 7

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,304
1,873

Corporation tax
18,617
22,969

Other taxation and social security
44,927
51,825

Other creditors
9,945
13,602

Accruals and deferred income
3,100
3,015

82,893
93,284



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(5,621)
(3,450)


Charged to profit or loss
(3,417)
(2,171)



At end of year
(9,038)
(5,621)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(9,296)
(6,977)

Short term timing differences
258
1,356

(9,038)
(5,621)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2


Page 8

 
INDUSTRIAL NOISE & VIBRATION CENTRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,502 (2023 - £12,725). Contributions totalling £5,424 (2023 - £5,476) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


12.


Related party transactions

Included in debtors is an amount of £286,828 (2023: £286,828) owing from the parent Company INVC Management Limited.


13.


Controlling party

The Company is controlled by the parent Company INVC Management Limited by virtue of it's 100% shareholding. 


Page 9