Innoture IP Limited - Accounts to registrar

REGISTERED NUMBER: 07801458 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

INNOTURE IP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B L Fisher

REGISTERED OFFICE:

2nd Floor

58 Davies Street

London

W1K 5JF

REGISTERED NUMBER:

07801458 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Intangible assets

3

1

CURRENT ASSETS

Cash at bank

1

CREDITORS

Amounts falling due within one year

4

1,920

1,440

NET CURRENT LIABILITIES

(1,919

)

(1,439

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,918

)

(1,438

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(1,919

)

(1,439

)

(1,918

)

(1,438

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 September 2017 and were signed by:

B L Fisher - Director

1.	STATUTORY INFORMATION

Innoture IP 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Intangible assets

Subsequent to initial recognition, patents assets are stated at cost less accumulated amortisation and

accumulated impairment. Intangible assets are amortised on a straight line basis over their estimated useful.

The carrying value of patents is reviewed for impairment if events or changes in circumstances indicate the

carrying value may not be recoverable.

Impairment of non-financial assets

The director assesses at each reporting date whether a patent may be impaired. If any such indication exists

the company estimates recoverable amount of the asset. If it is not possible to estimate the recoverable amount

of the individual asset, the company estimates, the recoverable amount of the cashgenerating unit to which the

asset belongs.

The recoverable amount of an asset or cashgenerating unit is the higher of its fair value less costs to sell and

its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is

impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset

is carried at a revalued amount where the impairment loss of a revalued asset is a revaluation decrease.

An impairment loss recognised for all assets, including goodwill, is reversed in a subsequent period if and only

if the reasons for the impairment loss have ceased to apply.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

1

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Trade creditors

480

-

Amounts owed to group undertakings

1,080

Other creditors

360

1,920

1,440

5.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Innoture Limited, a company registered in England and Wales, whose

registered office and trading address is located at 2nd Floor 58 Davies Street, London, England, W1K 5JF.

Innoture IP Limited - Accounts to registrar - small 17.2

Innoture IP Limited - Accounts to registrar - small 17.2