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REGISTERED NUMBER: 07527374 (England and Wales)










Unaudited Financial Statements for the Year Ended 29 February 2024

for

Inventive Patents Limited

Inventive Patents Limited (Registered number: 07527374)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Inventive Patents Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Russell St Clair Pearce
Matthew Denis Harding





REGISTERED OFFICE: 4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ





REGISTERED NUMBER: 07527374 (England and Wales)





ACCOUNTANTS: Robert Lewis Accountants
4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ

Inventive Patents Limited (Registered number: 07527374)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,633 5,450

CURRENT ASSETS
Stocks 93,649 69,319
Debtors 5 771 12,500
Investments 6 3,000 3,000
Cash at bank 7,871 33,816
105,291 118,635
CREDITORS
Amounts falling due within one year 7 70,495 80,648
NET CURRENT ASSETS 34,796 37,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,429

43,437

CREDITORS
Amounts falling due after more than one
year

8

(38,155

)

(42,217

)

PROVISIONS FOR LIABILITIES (880 ) (1,036 )
NET ASSETS 394 184

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 392 182
SHAREHOLDERS' FUNDS 394 184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

Inventive Patents Limited (Registered number: 07527374)

Statement of Financial Position - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





Russell St Clair Pearce - Director


Inventive Patents Limited (Registered number: 07527374)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Inventive Patents Limited 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.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Inventive Patents Limited (Registered number: 07527374)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 8,875
DEPRECIATION
At 1 March 2023 3,425
Charge for year 817
At 29 February 2024 4,242
NET BOOK VALUE
At 29 February 2024 4,633
At 28 February 2023 5,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 771 12,500

6. CURRENT ASSET INVESTMENTS
29.2.24 28.2.23
£    £   
Unlisted investments 3,000 3,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,043 4,329
Trade creditors (1 ) (1 )
Taxation and social security 9,589 13,536
Other creditors 50,864 62,784
70,495 80,648

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 38,155 42,217