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

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

INNOVATEK LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.2.0.376 05312118 director 1.1.20 31.12.20 31.12.20 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure053121182019-12-31053121182020-12-31053121182020-01-012020-12-31053121182018-12-31053121182019-01-012019-12-31053121182019-12-3105312118ns16:EnglandWales2020-01-012020-12-3105312118ns15:PoundSterling2020-01-012020-12-3105312118ns11:Director12020-01-012020-12-3105312118ns11:PrivateLimitedCompanyLtd2020-01-012020-12-3105312118ns11:SmallEntities2020-01-012020-12-3105312118ns11:AuditExempt-NoAccountantsReport2020-01-012020-12-3105312118ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-3105312118ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-3105312118ns11:FullAccounts2020-01-012020-12-3105312118ns11:CompanySecretary12020-01-012020-12-3105312118ns11:RegisteredOffice2020-01-012020-12-3105312118ns6:CurrentFinancialInstruments2020-12-3105312118ns6:CurrentFinancialInstruments2019-12-3105312118ns6:ShareCapital2020-12-3105312118ns6:ShareCapital2019-12-3105312118ns6:RetainedEarningsAccumulatedLosses2020-12-3105312118ns6:RetainedEarningsAccumulatedLosses2019-12-3105312118ns6:PlantMachinery2019-12-3105312118ns6:PlantMachinery2020-01-012020-12-3105312118ns6:PlantMachinery2020-12-3105312118ns6:PlantMachinery2019-12-3105312118ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-12-3105312118ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-31
REGISTERED NUMBER: 05312118 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

INNOVATEK LIMITED
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INNOVATEK LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2020







DIRECTOR: Dr P R Stevenson





SECRETARY: Mrs F E Stevenson





REGISTERED OFFICE: Pasture House
1 Cottage Field
Bishop Burton
Beverley
East Yorkshire
HU17 8YE





REGISTERED NUMBER: 05312118 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF
-1-
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

BALANCE SHEET
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 290 359

CURRENT ASSETS
Debtors 5 5,125 8,303
Investments 6 26,531 25,702
Cash at bank 118,270 109,985
149,926 143,990
CREDITORS
Amounts falling due within one year 7 8,850 3,164
NET CURRENT ASSETS 141,076 140,826
TOTAL ASSETS LESS CURRENT
LIABILITIES
141,366
141,185

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 141,266 141,085
SHAREHOLDERS' FUNDS 141,366 141,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 notes form part of these financial statements

-2- continued...
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

BALANCE SHEET - continued
31 December 2020


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 August 2021 and were signed by:





Dr P R Stevenson - Director


The notes form part of these financial statements

-3-
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

Innovatek Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principle place of business at Pasture House, 1 Cottage Field, Bishop Burton, Beverley, East Yorkshire, HU17 8YE.

The principal activity of the Company is consultancy. engineering & research.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the director, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Computer equipment - 25% on cost

Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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 2 (2019 - 2 ) .

-4- continued...
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2020
and 31 December 2020 3,830
DEPRECIATION
At 1 January 2020 3,471
Charge for year 69
At 31 December 2020 3,540
NET BOOK VALUE
At 31 December 2020 290
At 31 December 2019 359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 2,801 6,132
Other debtors 2,324 2,171
5,125 8,303

6. CURRENT ASSET INVESTMENTS
2020 2019
£    £   
Listed investments 26,531 25,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 4,000 -
Trade creditors 525 -
Taxation and social security 3,107 1,966
Other creditors 1,218 1,198
8,850 3,164

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed its director Dr P R Stevenson £398 (2019: £398). The amount is disclosed within other creditors.

-5- continued...
INNOVATEK LIMITED (REGISTERED NUMBER: 05312118)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020


9. ULTIMATE CONTROLLING PARTY

The company is under the control of Dr P R Stevenson (director) and his wife Mrs F E Stevenson (secretary) by nature of them holding 100% of the issued ordinary share capital of the company.

-6-