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INCEPTION IP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Inception IP Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 08476180 and registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG. The Company's principal place of business is 2nd Floor, 16 Neal's Yard, London WC2H 9DP.
The principal activity of the Company is to hold and manage trademarks.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company is reliant on the Group's cash resources to meet its obligations. Based on the availability of support to date and the conclusion within IVG's group financial statements the directors also continue to adopt the going concern basis in the preparing the Company financial statements.
Although the Company is in a net liability position, this is due to intercompany balances which demand for payment will not be made if the Company does not have to funds to repay.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Short-term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price.
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