Innov8 Property Solutions Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08364602 (England and Wales)

INNOV8 PROPERTY SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Moulding

C Glover

Mrs J Bamber

REGISTERED OFFICE:

Soapworks

Salford Quays

Manchester

M5 3FS

REGISTERED NUMBER:

08364602 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

FIXED ASSETS

Tangible assets

4

3,188

-

CURRENT ASSETS

Debtors

5

119,643

30,470

Cash at bank

102,701

71,656

222,344

102,126

CREDITORS

Amounts falling due within one year

6

98,006

49,011

NET CURRENT ASSETS

124,338

53,115

TOTAL ASSETS LESS CURRENT LIABILITIES

127,526

53,115

CAPITAL AND RESERVES

Called up share capital

7

150

150

Retained earnings

127,376

52,965

SHAREHOLDERS' FUNDS

127,526

53,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2023 and were signed on its behalf by:

Mrs J Bamber - Director

1.	STATUTORY INFORMATION

Innov8 Property Solutions 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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

3,931

At 31 March 2023

3,931

DEPRECIATION

Charge for year

743

At 31 March 2023

743

NET BOOK VALUE

At 31 March 2023

3,188

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

119,643

19,470

Amount owed by related party

-

11,000

119,643

30,470

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

5,419

926

Corporation tax

42,059

25,688

VAT

33,891

11,812

Directors' current accounts

1,726

8,096

Accruals and deferred income

14,911

2,489

98,006

49,011

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

50

Ordinary C

£1

50

50

150

150

All shares have full rights in the company with respect to voting, dividends and distributions.

8.	ULTIMATE CONTROLLING PARTY

The directors believe there is no overall ultimate controlling party.