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COMPANY REGISTRATION NUMBER: 07810702
Invicta Worldwide Group Limited
Filleted Unaudited Financial Statements
31 December 2023
Invicta Worldwide Group Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Invicta Worldwide Group Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
100
101
Current assets
Debtors
6
1,000,000
Cash at bank and in hand
743
1,000,743
------------
------------
1,000,743
1,000,743
Creditors: amounts falling due within one year
7
380,001
------------
------------
Net current assets
1,000,743
620,742
------------
---------
Total assets less current liabilities
1,000,843
620,843
------------
---------
Capital and reserves
Called up share capital
92
92
Capital redemption reserve
8
8
Profit and loss account
1,000,743
620,743
------------
---------
Shareholders funds
1,000,843
620,843
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Invicta Worldwide Group Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 October 2024 , and are signed on behalf of the board by:
Mr A Shearer
Director
Company registration number: 07810702
Invicta Worldwide Group Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7- 9 Hawley Square, Margate, Kent, CT9 1PF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2).
5. Investments
Other investments other than loans
£
Cost
At 1 January 2023
101
Disposals
( 1)
----
At 31 December 2023
100
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
100
----
At 31 December 2022
101
----
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,000,000
------------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1
Amounts owed to group undertakings
380,000
----
---------
380,001
----
---------
8. Controlling party
The ultimate controlling party is Mr A Shearer by way of his controlling shareholding in Invicta Worldwide Holdings Limited, a company incorporated in England. The address of the registered office of Invicta Worldwide Holdings Limited is 7/9 Hawley Square, Margate, Kent, CT9 1PF .