INNOVATED LIMITED - Accounts to registrar (filleted) - small 17.3
INNOVATED LIMITED - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2017 |
for |
INNOVATED LIMITED |
INNOVATED LIMITED (Registered number: 07647015) |
Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INNOVATED LIMITED |
Company Information |
for the Year Ended 31 May 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 203, 2nd Floor |
China House |
401 Edgware Road |
London |
NW2 6GY |
INNOVATED LIMITED (Registered number: 07647015) |
Balance Sheet |
31 May 2017 |
31.5.17 | 31.5.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
INNOVATED LIMITED (Registered number: 07647015) |
Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
1. | STATUTORY INFORMATION |
INNOVATED LIMITED is a |
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, and in accordance with the accounting policies set out below. |
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on |
1 June 2015. |
No transitional adjustments were required in equity or profit and loss for the year. |
Changes in accounting policies |
There have been no changes in accounting policies as a result of the transition to FRS 102. |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised as the |
service is completed. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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. |
Trade debtors |
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are |
written off when identified. Specific provisions are made against debts whose recovery is considered doubtful. |
Provisions and accruals |
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
INNOVATED LIMITED (Registered number: 07647015) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Trade debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Tax |
Accrued expenses |