Company Registration No. 07961277 (England and Wales)
Invicta Testing Services Limited
Unaudited financial statements
For the year ended 29 February 2024
Invicta Testing Services Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Invicta Testing Services Limited
Balance sheet
As at 29 February 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,326
20,580
Current assets
Debtors
5
965
7,400
Cash at bank and in hand
11,278
2,991
12,243
10,391
Creditors: amounts falling due within one year
7
(10,674)
(10,593)
Net current assets/(liabilities)
1,569
(202)
Total assets less current liabilities
16,895
20,378
Creditors: amounts falling due after more than one year
6
(11,717)
(16,420)
Provisions for liabilities
(2,912)
(3,910)
Net assets
2,266
48
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,265
47
Total equity
2,266
48
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 November 2024
D A Plumtree
Director
Company Registration No. 07961277
Invicta Testing Services Limited
Notes to the financial statements
For the year ended 29 February 2024
- 2 -
1
Accounting policies
Company information
Invicta Testing Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 125 John Wilson Business Park, Chestfield, Whitstable, Kent, CT5 3QT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable, net of discounts.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% straight line basis
Fixtures, fittings & equipment
25% straight line basis
Motor vehicles
25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the net book value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
1.5
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Invicta Testing Services Limited
Notes to the financial statements (continued)
For the year ended 29 February 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
3,160
(3,061)
Deferred tax
Origination and reversal of timing differences
(998)
3,910
Total tax charge
2,162
849
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2023 and 29 February 2024
1,560
1,064
21,018
23,642
Depreciation
At 1 March 2023
1,560
1,064
438
3,062
Charged for the year
5,254
5,254
At 29 February 2024
1,560
1,064
5,692
8,316
Net book value
At 29 February 2024
15,326
15,326
At 28 February 2023
20,580
20,580
5
Debtors: amounts falling due within one year
2024
2023
£
£
Trade debtors
586
3,842
Corporation tax recoverable
3,061
Prepayments and accrued income
379
497
965
7,400
Invicta Testing Services Limited
Notes to the financial statements (continued)
For the year ended 29 February 2024
- 4 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,500
2,700
Other creditors
10,217
13,720
11,717
16,420
7
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
1,200
1,200
Obligations under finance leases
3,503
3,503
Corporation tax
3,160
2,000
Director's loan account
1,281
1,310
Accruals and deferred income
1,530
2,580
10,674
10,593
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
1,619
9
Directors' transactions
Dividends totalling £7,000 (2023 - £11,000) were paid in the year in respect of shares held by the company's director.
The director's loan account was not overdrawn during the year.