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REGISTERED NUMBER: 11900073 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Innovo Limited

Innovo Limited (Registered number: 11900073)






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


Innovo Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G Martin





REGISTERED OFFICE: 1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT





REGISTERED NUMBER: 11900073 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

Innovo Limited (Registered number: 11900073)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 3,856 2,881

CURRENT ASSETS
Debtors 6 679 14,908
Cash at bank 6,346 16,959
7,025 31,867
CREDITORS
Amounts falling due within one
year

7

7,603

23,429
NET CURRENT (LIABILITIES)/ASSETS (578 ) 8,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,278

11,319

PROVISIONS FOR LIABILITIES 732 547
NET ASSETS 2,546 10,772

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 2,446 10,672
SHAREHOLDERS' FUNDS 2,546 10,772

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:




G Martin - Director


Innovo Limited (Registered number: 11900073)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Innovo 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 (£).


The company's principal place of business is 6 Old Severalls Road, Methwold Hythe, Thetford, Norfolk,IP26 4QR

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. There were no material departures from this standard.

3. ACCOUNTING POLICIES

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

At the balance sheet date the company had net current liabilities of £578, however the director believes that the company will be able to meet its liabilities as they fall due and therefore feels it appropriate to draw up these financial statements on the going concern basis. These financial statements do not include any adjustments that would result should the company be unable to continue trading.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

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.


Innovo Limited (Registered number: 11900073)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
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.

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.

Loans from directors
As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

4. EMPLOYEES AND DIRECTORS

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 159 5,306 5,465
Additions - 3,793 3,793
Disposals - (2,417 ) (2,417 )
At 31 March 2023 159 6,682 6,841
DEPRECIATION
At 1 April 2022 64 2,520 2,584
Charge for year 31 1,337 1,368
Eliminated on disposal - (967 ) (967 )
At 31 March 2023 95 2,890 2,985
NET BOOK VALUE
At 31 March 2023 64 3,792 3,856
At 31 March 2022 95 2,786 2,881

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 626 14,460
Other debtors 24 -
Prepayments and accrued income 29 448
679 14,908

Innovo Limited (Registered number: 11900073)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 1
Tax 5,829 16,078
Social security and other
taxes

-

5,822
Other creditors 37 37
Directors' current accounts 287 41
Accruals and deferred income 1,450 1,450
7,603 23,429

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2022 10,672
Profit for the year 26,774
Dividends (35,000 )
At 31 March 2023 2,446

10. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements - -

11. RELATED PARTY DISCLOSURES

In the period under review, interim dividends of £35,000 were paid to the company's shareholders.

In the year under review the company received a loan from a member of key management personnel and at the balance sheet date the company owed £287 in respect of this loan. The loan is unsecured and interest free with no specific repayment terms and is presented with in creditors due within one year.