Innov8ive Investment Company Limited,Ltd - Accounts

INNOV8IVE INVESTMENT COMPANY LIMITED - Company Information

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Innov8ive Investment Company Limited

For the year ended 31 October 2015

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 04441655

Contents Page

Innov8ive Investment Company Limited

For the year ended 31 October 2015

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Innov8ive Investment Company Limited

As at 31 October 2015

04441655

Registered Number :

2015

Notes

2014

Fixed assets

Tangible assets

2,347,303

2,347,177

2,347,303

2,347,177

Current assets

Stocks

1,334,236

Debtors

5,729

120,109

Cash at bank and in hand

96,977

67,809

1,551,322

73,538

Creditors: amounts falling due within one year

(137,786)

(119,504)

(64,248)

1,431,818

Net current assets

Total assets less current liabilities

3,779,121

2,282,929

Creditors: amounts falling due after more than one year

(857,583)

(2,285,103)

1,494,018

Net assets

1,425,346

Capital and reserves

Called up share capital

100

Revaluation reserve

685,159

Profit and loss account

808,759

740,087

1,494,018

1,425,346

Shareholders funds

For the year ended 31 October 2015 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: 22 July 2016

Mrs I K Makkar Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Innov8ive Investment Company Limited

For the year ended 31 October 2015

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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Notes to the Abbreviated Financial Statements

Innov8ive Investment Company Limited

For the year ended 31 October 2015

2 Tangible fixed assets

Tangible

fixed assets

Cost or valuation

2,349,240

At 01 November 2014

638

Additions

At 31 October 2015

2,349,878

Depreciation

2,063

At 01 November 2014

512

Charge for year

2,575

At 31 October 2015

Net book values

At 31 October 2015

2,347,303

2,347,177

At 31 October 2014

3 Debtors:

The above other debtors includes a deposit amount of £72,000 with solicitors.

2014

2015

4 Creditors due after more than one year

1,617,828

846,333

Bank loans and overdrafts (secured)

5 Share capital

Allotted called up and fully paid

2015

2014

100 Ordinary shares of £1.00 each

100

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