IRIS Accounts Production v24.3.2.46 SC604118 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6041182023-08-31SC6041182024-08-31SC6041182023-09-012024-08-31SC6041182022-08-31SC6041182022-09-012023-08-31SC6041182023-08-31SC604118ns15:Scotland2023-09-012024-08-31SC604118ns14:PoundSterling2023-09-012024-08-31SC604118ns10:Director12023-09-012024-08-31SC604118ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31SC604118ns10:SmallEntities2023-09-012024-08-31SC604118ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31SC604118ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31SC604118ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31SC604118ns10:FullAccounts2023-09-012024-08-31SC604118ns10:OrdinaryShareClass12023-09-012024-08-31SC604118ns10:Director22023-09-012024-08-31SC604118ns10:CompanySecretary12023-09-012024-08-31SC604118ns10:RegisteredOffice2023-09-012024-08-31SC604118ns5:CurrentFinancialInstruments2024-08-31SC604118ns5:CurrentFinancialInstruments2023-08-31SC604118ns5:Non-currentFinancialInstruments2024-08-31SC604118ns5:Non-currentFinancialInstruments2023-08-31SC604118ns5:ShareCapital2024-08-31SC604118ns5:ShareCapital2023-08-31SC604118ns5:RetainedEarningsAccumulatedLosses2024-08-31SC604118ns5:RetainedEarningsAccumulatedLosses2023-08-31SC604118ns5:MotorVehicles2023-09-012024-08-31SC604118ns5:ComputerEquipment2023-09-012024-08-31SC604118ns5:PlantMachinery2023-08-31SC604118ns5:MotorVehicles2023-08-31SC604118ns5:ComputerEquipment2023-08-31SC604118ns5:PlantMachinery2023-09-012024-08-31SC604118ns5:PlantMachinery2024-08-31SC604118ns5:MotorVehicles2024-08-31SC604118ns5:ComputerEquipment2024-08-31SC604118ns5:PlantMachinery2023-08-31SC604118ns5:MotorVehicles2023-08-31SC604118ns5:ComputerEquipment2023-08-31SC604118ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-08-31SC604118ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-012024-08-31SC604118ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-08-31SC604118ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-08-31SC604118ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31SC604118ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31SC604118ns5:DeferredTaxation2023-09-012024-08-31SC604118ns5:DeferredTaxation2024-08-31SC604118ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: SC604118 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Inventionize Ltd

Inventionize Ltd (Registered number: SC604118)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inventionize Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M G Abrahams
D B A Abrahams





SECRETARY: D I Abrahams





REGISTERED OFFICE: 23 Langside Drive
Glasgow
G43 2LA





REGISTERED NUMBER: SC604118 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Inventionize Ltd (Registered number: SC604118)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,163 41,684
Investment property 5 - -
36,163 41,684

CURRENT ASSETS
Debtors 6 54,214 3,269
Cash at bank 477,624 262,758
531,838 266,027
CREDITORS
Amounts falling due within one year 7 152,308 97,621
NET CURRENT ASSETS 379,530 168,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,693

210,090

CREDITORS
Amounts falling due after more than one
year

8

(32,627

)

(46,130

)

PROVISIONS FOR LIABILITIES 9 (1,982 ) -
NET ASSETS 381,084 163,960

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 380,984 163,860
SHAREHOLDERS' FUNDS 381,084 163,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Inventionize Ltd (Registered number: SC604118)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





D B A Abrahams - Director


Inventionize Ltd (Registered number: SC604118)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Inventionize Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 15% on cost
Computer equipment - 33.33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Inventionize Ltd (Registered number: SC604118)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 - 41,995 3,235 45,230
Additions 917 - 1,051 1,968
At 31 August 2024 917 41,995 4,286 47,198
DEPRECIATION
At 1 September 2023 - 1,966 1,580 3,546
Charge for year 80 6,299 1,110 7,489
At 31 August 2024 80 8,265 2,690 11,035
NET BOOK VALUE
At 31 August 2024 837 33,730 1,596 36,163
At 31 August 2023 - 40,029 1,655 41,684

Inventionize Ltd (Registered number: SC604118)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 41,995
DEPRECIATION
At 1 September 2023 1,966
Charge for year 6,299
At 31 August 2024 8,265
NET BOOK VALUE
At 31 August 2024 33,730
At 31 August 2023 40,029

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 187,520
Disposals (187,520 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,735 -
Other debtors 2,479 3,269
54,214 3,269

Inventionize Ltd (Registered number: SC604118)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,898 3,898
Trade creditors 62 -
Taxation and social security 126,338 40,142
Other creditors 12,010 43,581
152,308 97,621

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 5,728 15,333
Hire purchase contracts 26,899 30,797
32,627 46,130

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,982 -

Deferred
tax
£   
Provided during year 1,982
Balance at 31 August 2024 1,982

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100