Registration number:
Ingenuity Loop Limited
for the Period from 14 July 2023 to 31 July 2024
Ingenuity Loop Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ingenuity Loop Limited
Company Information
Directors |
Mr N R Upton Mr M S Luckwell |
Registered office |
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Accountants |
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Ingenuity Loop Limited
(Registration number: 15003991)
Balance Sheet as at 31 July 2024
Note |
2024 |
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Fixed assets |
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Intangible assets |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(8,800) |
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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:
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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
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Ingenuity Loop Limited
Notes to the Unaudited Financial Statements for the Period from 14 July 2023 to 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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100 |