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Registration number: 07899060

Invigorate Communications Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Invigorate Communications Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Invigorate Communications Ltd

Company Information

Directors

K Butler

J E Butler-Parr

J D Butler-Parr

Registered office

11 Preston Lane
Bilton
Hull
HU11 4DE

 

Invigorate Communications Ltd

(Registration number: 07899060)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

30,776

43,192

Current assets

 

Debtors

6

1,298

22,548

Cash at bank and in hand

 

238,115

260,358

 

239,413

282,906

Creditors: Amounts falling due within one year

7

(14,576)

(10,468)

Net current assets

 

224,837

272,438

Total assets less current liabilities

 

255,613

315,630

Provisions for liabilities

(3,465)

(7,227)

Net assets

 

252,148

308,403

Capital and reserves

 

Called up share capital

3

2

Retained earnings

252,145

308,401

Shareholders' funds

 

252,148

308,403

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
K Butler
Director

.........................................
J E Butler-Parr
Director

 

Invigorate Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 07899060.

The address of its registered office is:
11 Preston Lane
Bilton
Hull
HU11 4DE

These financial statements were authorised for issue by the Board on 30 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 (including Section 1A) - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of PR & Public Affairs consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

 

Invigorate Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

20% on cost

Motor vehicles

20% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 5 years - Goodwill has been fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Invigorate Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

10,000

10,000

At 31 January 2024

10,000

10,000

Amortisation

At 1 February 2023

10,000

10,000

At 31 January 2024

10,000

10,000

Carrying amount

At 31 January 2024

-

-

 

Invigorate Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Equipment, fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

15,438

53,916

69,354

Additions

963

-

963

At 31 January 2024

16,401

53,916

70,317

Depreciation

At 1 February 2023

8,190

17,972

26,162

Charge for the year

2,596

10,783

13,379

At 31 January 2024

10,786

28,755

39,541

Carrying amount

At 31 January 2024

5,615

25,161

30,776

At 31 January 2023

7,248

35,944

43,192

6

Debtors

2024
£

2023
£

Trade debtors

-

3,900

Other debtors

1,298

18,648

1,298

22,548

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,023

436

Trade creditors

 

331

223

Taxation and social security

 

7,633

8,377

Accruals and deferred income

 

1,589

1,394

Other creditors

 

-

38

 

14,576

10,468

 

Invigorate Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

5,023

436

Other borrowings relate to an unsecured directors loan account.

9

Related party transactions

Transactions with Directors

2024

At 1 February 2023
£

Advances to Director
£

Repayments by Director
£

At 31 January 2024
£

K Butler

Unsecured, interest free, repayable on demand

7,514

3,269

(9,485)

1,298

Other transactions with directors

At the year end, the company owed the directors £3,726 (2023: The directors owed the company £7,079). This amount is unsecured, interest free and repayable on demand.