Registered number
07906479
INNOV8 Cleaning Solutions Limited
Filleted Accounts
31 March 2023
INNOV8 Cleaning Solutions Limited
Registered number: 07906479
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 163,413 195,612
Current assets
Debtors 4 191,809 267,979
Cash at bank and in hand 894 12,028
192,703 280,007
Creditors: amounts falling due within one year 5 (73,362) (108,843)
Net current assets 119,341 171,164
Total assets less current liabilities 282,754 366,776
Creditors: amounts falling due after more than one year 6 (11,792) (33,372)
Net assets 270,962 333,404
Capital and reserves
Called up share capital 100 100
Profit and loss account 270,862 333,304
Shareholders' funds 270,962 333,404
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Peake
Director
Approved by the board on 5 July 2023
INNOV8 Cleaning Solutions Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance#
Motor vehicles 10% straight lune
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 38 46
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 61,228 436,395 497,623
Additions 11,753 22,495 34,248
Disposals - (83,564) (83,564)
At 31 March 2023 72,981 375,326 448,307
Depreciation
At 1 April 2022 37,520 264,491 302,011
Charge for the year 8,865 37,971 46,836
On disposals - (63,953) (63,953)
At 31 March 2023 46,385 238,509 284,894
Net book value
At 31 March 2023 26,596 136,817 163,413
At 31 March 2022 23,708 171,904 195,612
4 Debtors 2023 2022
£ £
Trade debtors 191,809 267,979
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,124 9,113
Taxation and social security costs 68,238 99,730
73,362 108,843
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 11,792 33,372
7 Other information
INNOV8 Cleaning Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Norton Arms Hotel
1 Endon Road
Stoke on Trent
Staffs
ST6 8NA
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