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Innovative Ventilation Solutions Limited
Registered Number:12073821
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2023
Innovative Ventilation Solutions Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
12073821
As at 30 June 2023
Innovative Ventilation Solutions Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
44,724
31,034
2
44,724
31,034
Current assets
Trade and other receivables
61,166
44,982
3
6,088
Cash and cash equivalents
41,824
86,806
67,254
Trade and other payables: amounts falling due within one
year
(32,741)
(30,350)
4
34,513
56,456
Net current assets
Total assets less current liabilities
101,180
65,547
Trade and other payables: amounts falling due after more
than one year
(44,715)
(56,893)
5
44,287
Net assets
20,832
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
43,287
19,832
44,287
20,832
Shareholders' funds
For the year ended 30 June 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 of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Oliver Frederick Odd Director
These financial statements were approved and authorised for issue by the Board on 08 November 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 June 2023
Innovative Ventilation Solutions Limited
Notes to the Financial Statements
Statutory Information
Innovative Ventilation Solutions Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 12073821.
Registered address:
3 Hagger Close
Buntingford
Hertfordshire
SG9 9SR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20 Reducing balance
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
2 of 4
5
For the year ended 30 June 2023
Innovative Ventilation Solutions Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Motor Vehicles
£
Cost or
valuation
At 01 July 2022
44,287
39,174
Additions
Disposals
(21,979)
At 30 June 2023
61,482
Provision for depreciation and impairment
At 01 July 2022
13,253
Charge for year
12,296
(8,791)
On disposal
At 30 June 2023
16,758
At 30 June 2023
Net book value
44,724
At 30 June 2022
31,034
3. Trade and other receivables
2022
2023
£
£
Other debtors
44,982
61,166
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
30
-
Trade creditors
-
(1)
Taxation and social security
15,243
10,079
Other creditors
15,077
22,663
30,350
32,741
3 of 4
6
For the year ended 30 June 2023
Innovative Ventilation Solutions Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
16,029
20,266
Other creditors
40,864
24,449
56,893
44,715
6. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
4 of 4