DISTINCT INNOVATIONS LTD

DISTINCT INNOVATIONS LTD

DISTINCT INNOVATIONS LTD - Company Information

Print Friendly Version

DISTINCT INNOVATIONS LTD

Company Registration Number:
12273969 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2020

Period of accounts

Start date: 22 October 2019

End date: 31 October 2020

DISTINCT INNOVATIONS LTD

Contents of the Financial Statements

for the Period Ended 31 October 2020

Balance sheet
Notes

DISTINCT INNOVATIONS LTD

Balance sheet

As at 31 October 2020


Notes
2020


£
Fixed assets
Intangible assets: 3 50,000
Tangible assets: 4 530,000
Investments: 5 18,000
Total fixed assets: 598,000
Current assets
Stocks: 17,250
Debtors:   0
Cash at bank and in hand: 26,540
Investments:   0
Total current assets: 43,790
Net current assets (liabilities): 43,790
Total assets less current liabilities: 641,790
Creditors: amounts falling due after more than one year: 6 (420,000)
Total net assets (liabilities): 221,790
Capital and reserves
Called up share capital: 1
Profit and loss account: 221,789
Shareholders funds: 221,790

The notes form part of these financial statements

DISTINCT INNOVATIONS LTD

Balance sheet statements

For the year ending 31 October 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 March 2021
and signed on behalf of the board by:

Name: Ramon Gonzalez
Status: Director

The notes form part of these financial statements

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

2. Employees

2020
Average number of employees during the period 7

6 Self Employed Contractors along with 1 Employed Company Director.

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

3. Intangible Assets

Total
Cost £
Additions 50,000
At 31 October 2020 50,000
Net book value
At 31 October 2020 50,000

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

4. Tangible Assets

Total
Cost £
Additions 530,000
At 31 October 2020 530,000
Net book value
At 31 October 2020 530,000

2 Beaulieu Close, Mitcham, Croydon, CR24HH - Property Purchased.

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

5. Fixed investments

A New Vehicle was Purchased for the Business in 2019.

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

6. Creditors: amounts falling due after more than one year note

We have a Secured Bridging Loan against 2 Beaulieu Close, Mitcham, CR4 2HH for the Amount of £530,000

DISTINCT INNOVATIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2020

7. Financial commitments

Based on a Turnover of £1.1M for 2019. We are planning to expand our Turnover to £4M with the help of CBILS and additional Funding.