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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

INOVA CONSULTANCY LIMITED

INOVA CONSULTANCY LIMITED (REGISTERED NUMBER: 05209648)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

INOVA CONSULTANCY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTOR: Ms M Larios Leon





SECRETARY: E Wijmenga





REGISTERED OFFICE: 64 Ringstead Crescent
Sheffield
S10 5SH





REGISTERED NUMBER: 05209648 (England and Wales)

INOVA CONSULTANCY LIMITED (REGISTERED NUMBER: 05209648)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 11,078 17,021
11,078 17,021

CURRENT ASSETS
Debtors 7 125,001 192,494
Cash at bank and in hand 437,814 308,253
562,815 500,747
CREDITORS
Amounts falling due within one year 8 229,548 178,452
NET CURRENT ASSETS 333,267 322,295
TOTAL ASSETS LESS CURRENT LIABILITIES 344,345 339,316

PROVISIONS FOR LIABILITIES 2,104 3,234
NET ASSETS 342,241 336,082

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 342,231 336,072
SHAREHOLDERS' FUNDS 342,241 336,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2023 and were signed by:





Ms M Larios Leon - Director


INOVA CONSULTANCY LIMITED (REGISTERED NUMBER: 05209648)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Inova Consultancy 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Project income is recognised on a pro rata basis for the period of the individual project.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.3% on cost and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

INOVA CONSULTANCY LIMITED (REGISTERED NUMBER: 05209648)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 30,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 32,868
Additions 1,363
Disposals (1,209 )
At 31 March 2023 33,022
DEPRECIATION
At 1 April 2022 15,847
Charge for year 7,306
Eliminated on disposal (1,209 )
At 31 March 2023 21,944
NET BOOK VALUE
At 31 March 2023 11,078
At 31 March 2022 17,021

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 102,771 165,703
Other debtors 4,842 -
Prepayments 17,388 26,791
125,001 192,494

INOVA CONSULTANCY LIMITED (REGISTERED NUMBER: 05209648)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans 19,436 20,979
Trade creditors - 531
Tax 6,707 -
Social security and other taxes (702 ) (1 )
VAT 28,506 16,665
Other creditors 612 1,437
Directors' current accounts 17,931 20,174
Deferred government grants 146,673 104,434
Accrued expenses 10,385 14,233
229,548 178,452

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 1,125 1,125

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
10 Ordinary £1 10 10

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INOVA CONSULTANCY LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inova Consultancy Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Inova Consultancy Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inova Consultancy Limited and state those matters that we have agreed to state to the director of Inova Consultancy Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Inova Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Inova Consultancy Limited. You consider that Inova Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Inova Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






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Date: .............................................