Innov8ive Investment Company Limited,Ltd - Accounts

Innov8ive Investment Company Limited,Ltd - Accounts

INNOV8IVE INVESTMENT COMPANY LIMITED - Company Information

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2013-11-01 true false Private Limited Company 04441655 2014-10-31 04441655 2013-11-01 2014-10-31 04441655 2013-10-31 04441655 2012-11-01 2013-10-31 04441655 uk-bus:Director1 2013-11-01 2014-10-31 04441655 uk-gaap:Buildings 2013-11-01 2014-10-31 04441655 uk-gaap:FixturesFittings 2013-11-01 2014-10-31 04441655 uk-gaap:AfterOneYear 2014-10-31 04441655 uk-gaap:AfterOneYear 2013-10-31 04441655 uk-bus:OrdinaryShareClass1 2014-10-31 iso4217:GBP
Innov8ive Investment Company Limited
For the year ended 31 October 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04441655
2
Contents Page
Innov8ive Investment Company Limited
For the year ended 31 October 2014
1
Accountant's Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Innov8ive Investment Company Limited
Accountant's Report
For the year ended 31 October 2014
As described on the balance sheet you are responsible for the preparation of the financial statements for the
year ended 31 October 2014 and you consider that the company is exempt from an audit under the
Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist
you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
IPM Accountants Limited
Chartered Certified Accountants
Top Floor, Bridgewater House
866 - 868 Uxbridge Road, Hayes
Middlesex UB4 0RR
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4
Abbreviated Balance Sheet
Innov8ive Investment Company Limited
As at 31 October 2014
04441655
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
2,347,177
3,964,639
2,347,177
3,964,639
Current assets
Debtors
37,744
5,729
Cash at bank and in hand
67,809
26,757
73,538
64,501
Creditors: amounts falling due within one year
(70,344)
(137,786)
(5,843)
(64,248)
Net current liabilities
Total assets less current liabilities
2,282,929
3,958,796
Creditors: amounts falling due after more than one year
3
(2,888,378)
(857,583)
1,425,346
Net assets
1,070,418
Capital and reserves
Called up share capital
100
4
100
Revaluation reserve
913,669
685,159
Profit and loss account
740,087
156,649
1,425,346
1,070,418
Shareholders funds
For the year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 09 July 2015
Mr G K Kakar Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
Innov8ive Investment Company Limited
For the year ended 31 October 2014
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents rents receivable.
Tangible fixed assets
Tangible fixed assets, other than leasehold property, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
0% Straight line
Fixtures and Fittings
25% Reducing balance
No amortisation is provided on the company's leasehold property since in the opinion of the director the expected
useful life is sufficiently long and the estimated residual value is sufficiently high that any such amortisation would
be immaterial. The director undertake an annual impairment review of this property.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date.
The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only
on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities
(effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible
assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the
financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors
reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be
separately identified or quantified.
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6
Notes to the Abbreviated Financial Statements
Innov8ive Investment Company Limited
For the year ended 31 October 2014
2 Tangible fixed assets
Tangible
fixed assets
Cost or valuation
£
3,966,232
At 01 November 2013
176,412
Additions
Revaluations
(228,510)
(1,564,894)
Disposals
At 31 October 2014
2,349,240
Depreciation
1,593
At 01 November 2013
470
Charge for year
2,063
At 31 October 2014
Net book values
At 31 October 2014
2,347,177
3,964,639
At 31 October 2013
2013
2014
3 Creditors due after more than one year
£
£
846,333
2,186,764
Bank loans and overdrafts (secured)
4 Share capital
Allotted called up and fully paid
2014
2013
£
£
100 Ordinary shares of £1.00 each
100
100
100
100
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