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Registration number: 15003991

Ingenuity Loop Limited

Unaudited Filleted Financial Statements

for the Period from 14 July 2023 to 31 July 2024

 

Ingenuity Loop Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Ingenuity Loop Limited

Company Information

Directors

Mr N R Upton

Mr M S Luckwell

Registered office

Sedgwick
Dunally Park
Shepperton
TW17 8LJ

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Ingenuity Loop Limited

(Registration number: 15003991)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

15,015

Creditors: Amounts falling due within one year

5

(23,715)

Net liabilities

 

(8,700)

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(8,800)

Shareholders' deficit

 

(8,700)

For the financial period ending 31 July 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 period 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 13 April 2025 and signed on its behalf by:
 


Mr N R Upton
Director

 

Ingenuity Loop Limited

Notes to the Unaudited Financial Statements for the Period from 14 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sedgwick
Dunally Park
Shepperton
TW17 8LJ

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis, as the directors are confident of the continued financial support of the company's major shareholders to ensure that there are sufficient funds to meet all liabilities as they fall due.

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.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation.

Amortisation

Once the asset is developed to generate revenue, 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

10 years straight line

 

Ingenuity Loop Limited

Notes to the Unaudited Financial Statements for the Period from 14 July 2023 to 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

15,015

15,015

At 31 July 2024

15,015

15,015

Carrying amount

At 31 July 2024

15,015

15,015

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Amounts owed to group undertakings and undertakings in which the company has a participating interest

22,915

Accruals and deferred income

800

23,715

6

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100