Innovations Interiors Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02492659 (England and Wales)

INNOVATIONS INTERIORS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S Hartman

Mrs D Hartman

REGISTERED OFFICE:

40 Ashtead Road

London

E5 9PH

REGISTERED NUMBER:

02492659 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

5 Windus Road

London

N16 6UT

CURRENT ASSETS

Stocks

11,100

10,250

Debtors

5

12,665

23,741

Cash at bank

2,955

5,693

26,720

39,684

CREDITORS

Amounts falling due within one year

6

21,187

38,291

NET CURRENT ASSETS

5,533

1,393

TOTAL ASSETS LESS CURRENT LIABILITIES

5,533

1,393

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

5,531

1,391

SHAREHOLDERS' FUNDS

5,533

1,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 30 January 2018 and were signed on its behalf by:

Mr S Hartman - Director

1.	STATUTORY INFORMATION

Innovations Interiors 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 April 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1 May 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,968

23,741

Other debtors

5,697

-

12,665

23,741

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

360

-

Trade creditors

19,122

29,379

Taxation and social security

1,061

3,088

Other creditors

644

5,824

21,187

38,291

7.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned to FRS

102 on 1 May 2015.

No transitional adjustments were required in equity or profit or loss for the year.