Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mr AS Hill 04/02/2020 13 February 2025 The principal activity of the company is being that of development and sales of cosmetic products. 12440507 2024-05-31 12440507 bus:Director1 2024-05-31 12440507 2023-05-31 12440507 core:CurrentFinancialInstruments 2024-05-31 12440507 core:CurrentFinancialInstruments 2023-05-31 12440507 core:ShareCapital 2024-05-31 12440507 core:ShareCapital 2023-05-31 12440507 core:RetainedEarningsAccumulatedLosses 2024-05-31 12440507 core:RetainedEarningsAccumulatedLosses 2023-05-31 12440507 2023-06-01 2024-05-31 12440507 bus:FilletedAccounts 2023-06-01 2024-05-31 12440507 bus:SmallEntities 2023-06-01 2024-05-31 12440507 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12440507 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12440507 bus:Director1 2023-06-01 2024-05-31 12440507 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 12440507 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 12440507 (England and Wales)

INTEGRO INNOVATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

INTEGRO INNOVATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

INTEGRO INNOVATIONS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
INTEGRO INNOVATIONS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DIRECTOR Mr AS Hill
REGISTERED OFFICE Lytchett House
13 Freeland Park
Wareham Road
Poole
Dorset
BH16 6FA
United Kingdom
COMPANY NUMBER 12440507 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
2nd Floor
201 Great Portland Street
Marylebone
London
W1W 5AB
INTEGRO INNOVATIONS LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
INTEGRO INNOVATIONS LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Current assets
Stocks 0 55,007
Debtors 4 0 160
Cash at bank and in hand 0 617
0 55,784
Creditors: amounts falling due within one year 5 ( 1,053,611) ( 1,049,140)
Net current liabilities (1,053,611) (993,356)
Total assets less current liabilities (1,053,611) (993,356)
Provision for liabilities ( 3,671) ( 58,382)
Net liabilities ( 1,057,282) ( 1,051,738)
Capital and reserves
Called-up share capital 1,100 1,100
Profit and loss account ( 1,058,382 ) ( 1,052,838 )
Total shareholder's deficit ( 1,057,282) ( 1,051,738)

For the financial year ending 31 May 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 Integro Innovations Limited (registered number: 12440507) were approved and authorised for issue by the Director on 13 February 2025. They were signed on its behalf by:

Mr AS Hill
Director
INTEGRO INNOVATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
INTEGRO INNOVATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

Integro Innovations 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 Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to certain fellow group companies. The transfer was finalised in January 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment.

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

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

4. Debtors

2024 2023
£ £
Trade debtors 0 60
Other debtors 0 100
0 160

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 25
Amounts owed to Group undertakings 1,053,611 1,048,994
Accruals 0 97
Other taxation and social security 0 24
1,053,611 1,049,140