REGISTERED NUMBER:
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INOX VENT LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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REGISTERED NUMBER:
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INOX VENT LTD |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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INOX VENT LTD (REGISTERED NUMBER: 11980541) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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INOX VENT LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
INOX VENT LTD (REGISTERED NUMBER: 11980541) |
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STATEMENT OF FINANCIAL POSITION |
31 MAY 2020 |
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Notes | £ |
CURRENT ASSETS |
Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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INOX VENT LTD (REGISTERED NUMBER: 11980541) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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1. | STATUTORY INFORMATION |
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Inox Vent Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 11980541. The registered office is Unit 1, Adhan Trading Estate, Off Temple Drive, Blackburn, Lancashire, BB1 1NL. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The director has considered the impact of the global Covid-19 pandemic on the company and recognises that the future cannot be predicted with any certainty. The company is yet to commence trade and once it does the director will ensure procedures are introduced so that operations are conducted in accordance with official government advice. The director will endeavour to monitor and control costs as necessary and any available government backed support will be obtained as required. |
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The director has considered the business risks and believe that the company is well placed to manage these |
risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial |
statements. |
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Significant judgements and estimates |
In the opinion of the director there are no significant judgements and estimates. |
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Government grants |
Grants are accounted for under the accruals model as permitted by FRS 102. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and others third parties and loans to related parties. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
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Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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INOX VENT LTD (REGISTERED NUMBER: 11980541) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7 MAY 2019 TO 31 MAY 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
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