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Company No: 10149950 (England and Wales)

INTELLECTUAL PROPERTY VENTURES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

INTELLECTUAL PROPERTY VENTURES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

INTELLECTUAL PROPERTY VENTURES LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
INTELLECTUAL PROPERTY VENTURES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR C M Bull
REGISTERED OFFICE Level 1
Brockbourne House
77 Mount Ephraim
Tunbridge Wells
TN4 8BS
United Kingdom
COMPANY NUMBER 10149950 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
INTELLECTUAL PROPERTY VENTURES LIMITED

BALANCE SHEET

As at 30 April 2024
INTELLECTUAL PROPERTY VENTURES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 8,115 5,003
Tangible assets 4 27,097 37,369
35,212 42,372
Current assets
Debtors 5 96,103 118,758
Cash at bank and in hand 73,304 13,246
169,407 132,004
Creditors: amounts falling due within one year 6 ( 40,074) ( 77,367)
Net current assets 129,333 54,637
Total assets less current liabilities 164,545 97,009
Net assets 164,545 97,009
Capital and reserves
Called-up share capital 1 1
Revaluation reserve 5,129 2,017
Profit and loss account 159,415 94,991
Total shareholder's funds 164,545 97,009

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Intellectual Property Ventures Limited (registered number: 10149950) were approved and authorised for issue by the Director on 28 January 2025. They were signed on its behalf by:

C M Bull
Director
INTELLECTUAL PROPERTY VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
INTELLECTUAL PROPERTY VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Intellectual Property Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1, Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Intellectual Property Ventures Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Cryptocurrency

Investments in cryptocurrency are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2023 5,003 5,003
Fair value movement 3,112 3,112
At 30 April 2024 8,115 8,115
Accumulated amortisation
At 01 May 2023 0 0
At 30 April 2024 0 0
Net book value
At 30 April 2024 8,115 8,115
At 30 April 2023 5,003 5,003

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 134,509 134,509
Additions 3,110 3,110
Disposals ( 1,054) ( 1,054)
At 30 April 2024 136,565 136,565
Accumulated depreciation
At 01 May 2023 97,140 97,140
Charge for the financial year 13,382 13,382
Disposals ( 1,054) ( 1,054)
At 30 April 2024 109,468 109,468
Net book value
At 30 April 2024 27,097 27,097
At 30 April 2023 37,369 37,369

5. Debtors

2024 2023
£ £
Other debtors 96,103 118,758

6. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 33,754 70,190
Other taxation and social security 0 2,636
Other creditors 6,320 4,541
40,074 77,367

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Loan 88,083 118,758

The balance was repaid in full within 9 months after the end of the current accounting period. Interest has been charged at the prevailing HMRC approved rate of interest.

Other related party transactions

During the year the company lent £8,440 to a connected company. This loan was written off in full.