BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is the provision of specialist medical practice activities 23 October 2024 9 8 NI616463 2024-01-31 NI616463 2023-01-31 NI616463 2022-01-31 NI616463 2023-02-01 2024-01-31 NI616463 2022-02-01 2023-01-31 NI616463 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI616463 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI616463 uk-bus:AbridgedAccounts 2023-02-01 2024-01-31 NI616463 uk-core:ShareCapital 2024-01-31 NI616463 uk-core:ShareCapital 2023-01-31 NI616463 uk-core:SharePremium 2024-01-31 NI616463 uk-core:SharePremium 2023-01-31 NI616463 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI616463 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI616463 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI616463 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI616463 uk-bus:FRS102 2023-02-01 2024-01-31 NI616463 uk-core:PlantMachinery 2023-02-01 2024-01-31 NI616463 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI616463 uk-core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 NI616463 2023-02-01 2024-01-31 NI616463 uk-bus:Director1 2023-02-01 2024-01-31 NI616463 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
IN-OVO Fertility Clinics Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2024



IN-OVO Fertility Clinics Ltd
Company Registration Number: NI616463
ABRIDGED BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
 
Tangible assets 4 351,456 482,677
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Current Assets
 
Stocks 23,783 24,471
 
Debtors 6,796 6,796
 
Cash at bank and in hand 56,972 93,653
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87,551 124,920
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Creditors: amounts falling due within one year (12,643) (95,892)
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Net Current Assets 74,908 29,028
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Total Assets less Current Liabilities 426,364 511,705
 
Creditors:
 
amounts falling due after more than one year - (4,185)
 
 
Provisions for liabilities (65,947) (91,709)
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Net Assets 360,417 415,811
═════════ ═════════
 
 
Capital and Reserves
 
Called up share capital 230 230
 
Share premium account 5 1,919,190 1,919,190
 
Retained earnings (1,559,003) (1,503,609)
───────── ─────────
Shareholders' Funds 360,417 415,811
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 23 October 2024 and signed on its behalf by
           
           
           
________________________________          
Efstathios Diakos          
Director          
           



IN-OVO Fertility Clinics Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
IN-OVO Fertility Clinics Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI616463. The registered office of the company is Murray House, Murray Street, Belfast, BT1 6DN, Northern Ireland. The nature of the company's operations and its principal activities are set out in the Directors' Report.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements cover the individual entity, IN - OVO Fertility Clinics Ltd for the financial year ended 31st January 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 12.5% Straight line
  Fixtures, fittings and equipment - 20% Straight line
  Computer equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Employees 9 8
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Computer Total
  machinery fittings and equipment  
    equipment    
  £ £ £ £
Cost
At 1 February 2023 936,127 33,382 38,676 1,008,185
Additions - 7,687 37,242 44,929
Disposals - (2,176) - (2,176)
  ───────── ───────── ───────── ─────────
At 31 January 2024 936,127 38,893 75,918 1,050,938
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 482,196 19,020 24,292 525,508
Charge for the financial year 155,553 11,183 7,974 174,710
On disposals - (736) - (736)
  ───────── ───────── ───────── ─────────
At 31 January 2024 637,749 29,467 32,266 699,482
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2024 298,378 9,426 43,652 351,456
  ═════════ ═════════ ═════════ ═════════
At 31 January 2023 453,931 14,362 14,384 482,677
  ═════════ ═════════ ═════════ ═════════
   
5. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2010.
 
       
6. Financial commitments and guarantees
 
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension contributions are charged to the profit and loss in the year that they occur. There is £5,816 owed to the fund at the 31st January 2024. This is included in Creditors: amounts falling due within one year.