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INNOVATION ROBOTICS LTD

Registered Number
12356724
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

INNOVATION ROBOTICS LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

AKMAZ, Inan

Registered Address

63-66 Hatton Garden Fifth Floor
Suite 23
London
EC1N 8LE

Registered Number

12356724 (England and Wales)
INNOVATION ROBOTICS LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,298-
1,298-
Current assets
Debtors6595,100
Cash at bank and on hand27,78337,117
27,84242,217
Creditors amounts falling due within one year7(17,145)(17,762)
Net current assets (liabilities)10,69724,455
Total assets less current liabilities11,99524,455
Creditors amounts falling due after one year(2,087)(2,753)
Net assets9,90821,702
Capital and reserves
Called up share capital100100
Other reserves500500
Profit and loss account9,30821,102
Shareholders' funds9,90821,702
The financial statements were approved and authorised for issue by the Director on 5 October 2023, and are signed on its behalf by:
AKMAZ, Inan
Director
Registered Company No. 12356724
INNOVATION ROBOTICS LTD
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Total

£
Cost or valuation
Additions1,315
At 30 September 231,315
Depreciation and impairment
Charge for year17
At 30 September 2317
Net book value
At 30 September 231,298
At 30 September 22-
6.Debtors

2023

2022

££
Trade debtors / trade receivables-5,100
Other debtors59-
Total595,100
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables60794
Taxation and social security5,8357,125
Other creditors11,2509,843
Total17,14517,762
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.