Inovus Limited - Accounts to registrar (filleted) - small 18.2

Inovus Limited - Accounts to registrar (filleted) - small 18.2

INOVUS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v19.1.0.737 07919081 Board of Directors Board of Directors 1.2.18 31.1.19 31.1.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure079190812018-01-31079190812019-01-31079190812018-02-012019-01-31079190812017-01-31079190812017-02-012018-01-31079190812018-01-3107919081ns15:EnglandWales2018-02-012019-01-3107919081ns14:PoundSterling2018-02-012019-01-3107919081ns10:Director12018-02-012019-01-3107919081ns10:Director22018-02-012019-01-3107919081ns10:PrivateLimitedCompanyLtd2018-02-012019-01-3107919081ns10:SmallEntities2018-02-012019-01-3107919081ns10:AuditExempt-NoAccountantsReport2018-02-012019-01-3107919081ns10:SmallCompaniesRegimeForDirectorsReport2018-02-012019-01-3107919081ns10:SmallCompaniesRegimeForAccounts2018-02-012019-01-3107919081ns10:AbridgedAccounts2018-02-012019-01-3107919081ns10:Director32018-02-012019-01-3107919081ns10:RegisteredOffice2018-02-012019-01-3107919081ns5:CurrentFinancialInstruments2019-01-3107919081ns5:CurrentFinancialInstruments2018-01-3107919081ns5:Non-currentFinancialInstruments2019-01-3107919081ns5:Non-currentFinancialInstruments2018-01-3107919081ns5:ShareCapital2019-01-3107919081ns5:ShareCapital2018-01-3107919081ns5:SharePremium2019-01-3107919081ns5:SharePremium2018-01-3107919081ns5:RetainedEarningsAccumulatedLosses2019-01-3107919081ns5:RetainedEarningsAccumulatedLosses2018-01-3107919081ns5:LandBuildingsns5:OwnedOrFreeholdAssets2018-02-012019-01-3107919081ns5:LeaseholdImprovements2018-02-012019-01-3107919081ns5:PlantMachinery2018-02-012019-01-3107919081ns5:FurnitureFittings2018-02-012019-01-3107919081ns5:ComputerEquipment2018-02-012019-01-3107919081ns5:BetweenOneFiveYears2019-01-3107919081ns5:BetweenOneFiveYears2018-01-3107919081ns5:Secured2019-01-3107919081ns5:Secured2018-01-3107919081ns5:AcceleratedTaxDepreciationDeferredTax2019-01-3107919081ns5:AcceleratedTaxDepreciationDeferredTax2018-01-3107919081ns5:TaxLossesCarry-forwardsDeferredTax2019-01-3107919081ns5:TaxLossesCarry-forwardsDeferredTax2018-01-3107919081ns5:DeferredTaxation2018-02-012019-01-3107919081ns5:DeferredTaxation2019-01-3107919081ns5:RetainedEarningsAccumulatedLosses2018-01-3107919081ns5:SharePremium2018-01-3107919081ns5:RetainedEarningsAccumulatedLosses2018-02-012019-01-31


REGISTERED NUMBER: 07919081 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

INOVUS LIMITED
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INOVUS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2019







DIRECTORS: E Street
J V Flute
Ms L Gao





REGISTERED OFFICE: Unit 14
Wharton Street
Sherdley Road Industrial Estate
St Helens
Merseyside
WA9 5AA





REGISTERED NUMBER: 07919081 (England and Wales)





ACCOUNTANTS: Mattocks Grindley Ltd
18 Mulberry Avenue
Turnstone Park
Widnes
Cheshire
WA8 0WN
Page 1
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

ABRIDGED BALANCE SHEET
31 JANUARY 2019

31.1.19 31.1.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 386,071 183,069

CURRENT ASSETS
Stocks 35,698 15,880
Debtors 128,063 40,389
Cash at bank 509,883 77,602
673,644 133,871
CREDITORS
Amounts falling due within one year 102,748 97,015
NET CURRENT ASSETS 570,896 36,856
TOTAL ASSETS LESS CURRENT LIABILITIES 956,967 219,925

CREDITORS
Amounts falling due after more than one
year
5
(358,354
)
(178,720
)

PROVISIONS FOR LIABILITIES 8 (3,794 ) -
NET ASSETS 594,819 41,205

CAPITAL AND RESERVES
Called up share capital 10 8
Share premium 9 499,499 -
Retained earnings 9 95,310 41,197
SHAREHOLDERS' FUNDS 594,819 41,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 notes form part of these financial statements

Page 2 continued...
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2019


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 10 June 2019 and were signed on its behalf by:




E Street - Director



J V Flute - Director


The notes form part of these financial statements

Page 3
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019


1. STATUTORY INFORMATION

Inovus Limited 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.

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.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Page 4 continued...
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2019


2. ACCOUNTING POLICIES - continued

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 6 (2018 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2018 194,464
Additions 224,406
At 31 January 2019 418,870
DEPRECIATION
At 1 February 2018 11,395
Charge for year 21,404
At 31 January 2019 32,799
NET BOOK VALUE
At 31 January 2019 386,071
At 31 January 2018 183,069

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.1.19 31.1.18
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 105,604 107,943

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.19 31.1.18
£    £   
Between one and five years 46,589 -

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.19 31.1.18
£    £   
Bank loans 178,639 202,405

Page 5 continued...
INOVUS LIMITED (REGISTERED NUMBER: 07919081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2019


8. PROVISIONS FOR LIABILITIES
31.1.19 31.1.18
£    £   
Deferred tax
Accelerated capital allowances 39,565 -
Tax losses carried forward (35,771 ) -
3,794 -

Deferred
tax
£   
Provided during year 3,794
Balance at 31 January 2019 3,794

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 February 2018 41,197 - 41,197
Profit for the year 102,365 102,365
Dividends (48,252 ) (48,252 )
Cash share issue - 499,499 499,499
At 31 January 2019 95,310 499,499 594,809

Page 6