Invisifilm Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09510978 (England and Wales)

INVISIFILM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J S Walsh

S R Walsh

REGISTERED OFFICE:

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

SK8 3TD

REGISTERED NUMBER:

09510978 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

FIXED ASSETS

Intangible assets

4

1,200

-

Tangible assets

5

74,242

42,642

75,442

42,642

CURRENT ASSETS

Stocks

15,000

15,000

Debtors

6

81,052

72,929

Cash at bank

361,987

302,973

458,039

390,902

CREDITORS

Amounts falling due within one year

7

162,318

160,793

NET CURRENT ASSETS

295,721

230,109

TOTAL ASSETS LESS CURRENT LIABILITIES

371,163

272,751

CREDITORS

Amounts falling due after more than one year

8

(34,870

)

(2,840

)

PROVISIONS FOR LIABILITIES

(5,432

)

(5,508

)

NET ASSETS

330,861

264,403

CAPITAL AND RESERVES

Called up share capital

9

102

102

Retained earnings

330,759

264,301

SHAREHOLDERS' FUNDS

330,861

264,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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 7 July 2022 and were signed on its behalf by:

S R Walsh - Director

1.	STATUTORY INFORMATION

Invisifilm Ltd is a private company, limited by shares , registered in England and Wales. 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.

Going concern

The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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.

Improvements to property

-

Straight line over 7 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 11 (2021 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

1,800

At 31 March 2022

1,800

AMORTISATION

Charge for year

600

At 31 March 2022

600

NET BOOK VALUE

At 31 March 2022

1,200

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2021

18,362

12,431

19,494

Additions

-

-

2,675

At 31 March 2022

18,362

12,431

22,169

DEPRECIATION

At 1 April 2021

-

7,418

10,272

Charge for year

-

1,003

2,379

At 31 March 2022

-

8,421

12,651

NET BOOK VALUE

At 31 March 2022

18,362

4,010

9,518

At 31 March 2021

18,362

5,013

9,222

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2021

27,320

2,944

80,551

Additions

35,311

490

38,476

At 31 March 2022

62,631

3,434

119,027

DEPRECIATION

At 1 April 2021

17,275

2,944

37,909

Charge for year

3,331

163

6,876

At 31 March 2022

20,606

3,107

44,785

NET BOOK VALUE

At 31 March 2022

42,025

327

74,242

At 31 March 2021

10,045

-

42,642

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2021

10,570

Additions

35,311

At 31 March 2022

45,881

DEPRECIATION

At 1 April 2021

7,226

Charge for year

1,656

At 31 March 2022

8,882

NET BOOK VALUE

At 31 March 2022

36,999

At 31 March 2021

3,344

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

81,052

72,929

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

1,750

1,750

Trade creditors

61,944

56,651

Taxation and social security

74,535

60,165

Other creditors

24,089

42,227

162,318

160,793

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

34,870

2,840

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

102

102

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr and Mrs Walsh.