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Company Registration No. 10085763 (England and Wales)
Innovative Properties Limited Unaudited accounts for the year ended 31 March 2023
Innovative Properties Limited Unaudited accounts Contents
Page
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Innovative Properties Limited Company Information for the year ended 31 March 2023
Director
V Janarthanan
Company Number
10085763 (England and Wales)
Registered Office
602a Romford Road Manor Park London E12 5AF United Kingdom
Accountants
O'Meara Fitzmaurice & Co Brimstage Hall Brimstage Road Wirral CH63 6JA
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Innovative Properties Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
528,993 
528,993 
Current assets
Cash at bank and in hand
29,667 
22,127 
Creditors: amounts falling due within one year
(288,859)
(252,134)
Net current liabilities
(259,192)
(230,007)
Total assets less current liabilities
269,801 
298,986 
Creditors: amounts falling due after more than one year
(430,485)
(431,740)
Net liabilities
(160,684)
(132,754)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(160,685)
(132,755)
Shareholders' funds
(160,684)
(132,754)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 October 2023 and were signed on its behalf by
V Janarthanan Director Company Registration No. 10085763
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Innovative Properties Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Innovative Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10085763. The registered office is 602a Romford Road, Manor Park, London, E12 5AF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
526,046 
1,084 
2,598 
529,728 
At 31 March 2023
526,046 
1,084 
2,598 
529,728 
Depreciation
At 1 April 2022
- 
216 
519 
735 
At 31 March 2023
- 
216 
519 
735 
Net book value
At 31 March 2023
526,046 
868 
2,079 
528,993 
At 31 March 2022
526,046 
868 
2,079 
528,993 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
288,859 
252,134 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
430,485 
431,740 
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Innovative Properties Limited Notes to the Accounts for the year ended 31 March 2023
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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