Innov8 Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06525444 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Innov8 Consulting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H L Jones

SECRETARY:

Miss T A Cannell

REGISTERED OFFICE:

8 Highcroft

Cherry Burton

Beverley

East Yorkshire

HU17 7SG

REGISTERED NUMBER:

06525444 (England and Wales)

FIXED ASSETS

Tangible assets

3

1,095

1,955

CURRENT ASSETS

Debtors

4

1,056

9,255

Cash at bank

7,285

15,604

8,341

24,859

CREDITORS

Amounts falling due within one year

5

3,214

11,138

NET CURRENT ASSETS

5,127

13,721

TOTAL ASSETS LESS CURRENT LIABILITIES

6,222

15,676

PROVISIONS FOR LIABILITIES

208

261

NET ASSETS

6,014

15,415

CAPITAL AND RESERVES

Called up share capital

6

101

101

Retained earnings

7

5,913

15,314

SHAREHOLDERS' FUNDS

6,014

15,415

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 18 December 2019 and were signed by:

H L Jones - Director

1.	STATUTORY INFORMATION

Innov8 Consulting 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.

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.

Turnover

Turnover represents net invoiced consultancy services, excluding value added tax.

Revenue recognition

Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the

company receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based

on their fair value of the right to consideration at the balance sheet date. The value is included in debtors as

Amounts Recoverable on Contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists,

the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable

amount of the cash-generating unit to which the asset belongs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account,

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

1,027

3,631

4,658

DEPRECIATION

At 1 April 2018

546

2,157

2,703

Charge for year

72

788

860

At 31 March 2019

618

2,945

3,563

NET BOOK VALUE

At 31 March 2019

409

686

1,095

At 31 March 2018

481

1,474

1,955

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

8,253

Prepayments and accrued income

1,056

1,002

1,056

9,255

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

-

1

Tax

2,314

7,061

Social security and other taxes

-

2,523

Directors' current accounts

-

648

Accrued expenses

900

905

3,214

11,138

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary

£1.00

100

100

1

Ordinary 'A'

£1.00

1

1

101

101

7.

RESERVES

Retained

earnings

£

At 1 April 2018

15,314

Profit for the year

9,647

Dividends

(19,048

)

At 31 March 2019

5,913

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date, the company had invoiced sales of NIL (2018: £19,340) to a company which the

director, Mr H Jones, is a partner.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director.