INBIZ (NI) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI034187 (Northern Ireland)

INBIZ (NI) Ltd

Financial Statements

for the Year Ended 31 March 2021

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

4

Directors:

Mr S W L Foye

Mr J P Hagan

Registered office:

I2 CIDO Innovation Centre

73 Charlestown Road

Portadown

Co Armagh

BT63 5PP

Registered number:

NI034187 (Northern Ireland)

Auditors:

Wylie Ruddell

Statutory Auditor

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Solicitors:

Thompson Mitchell

12-14 Mandeville Street

Portadown

Co Armagh

BT62 3NZ

Current assets

Receivables

4

2

2

Total assets less current liabilities

2

2

Capital and reserves

Called up share capital

5

2

2

Shareholders' funds

2

2

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2021 and were signed on its behalf by:

Mr J P Hagan - Director

1.	Statutory information

INBIZ (NI) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. There have been no critical accounting judgements or estimates in applying the company's accounting policies.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of income and retained earnings over the expected useful lives of the asset concerned. Other grants are credited to the statement of income and retained earnings as the related expenditure is incurred.

3.	Employees and directors

The average number of employees during the year was 2 (2020 - 2 ) .

4.	Receviables less than one year

2021

2020

£

£

Amounts owed by group undertakings

2

2

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

2

2

2

6.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

David Ruddell (Senior Statutory Auditor)

for and on behalf of Wylie Ruddell

7.	Related party disclosures

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.

8.	Parent and ultimate parent company

The directors regard Craigavon Industrial Development Organisation, a company registered in Northern Ireland, as the ultimate parent company and the controlling party. The address of Craigavon Industrial Development Organisation is i2 CIDO Innovation Centre, 73 Charlestown Road, Portadown, BT63 5PP. The parent of the largest group in which the results are consolidated is Craigavon Industrial Development Organisation.