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REGISTERED NUMBER: 10946086 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Innova Search and Selection Ltd

Innova Search and Selection Ltd (Registered number: 10946086)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Innova Search and Selection Ltd

Company Information
for the Year Ended 30 September 2023







Directors: D Miley
R B Pilkington





Registered office: Poplar House, First Floor
Park West
Sealand Road
Chester
CH1 4RN





Registered number: 10946086 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Innova Search and Selection Ltd (Registered number: 10946086)

Statement of Financial Position
30 September 2023

30/9/23 30/9/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 284,825 28,909

Current assets
Debtors 5 84,894 120,825
Cash at bank 303,750 281,745
388,644 402,570
Creditors
Amounts falling due within one year 6 241,279 182,232
Net current assets 147,365 220,338
Total assets less current liabilities 432,190 249,247

Creditors
Amounts falling due after more than
one year

7

(399,984

)

(28,080

)

Provisions for liabilities 8 - (4,360 )
Net assets 32,206 216,807

Capital and reserves
Called up share capital 100 100
Retained earnings 32,106 216,707
Shareholders' funds 32,206 216,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Innova Search and Selection Ltd (Registered number: 10946086)

Statement of Financial Position - continued
30 September 2023


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 Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





D Miley - Director


Innova Search and Selection Ltd (Registered number: 10946086)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. Statutory information

Innova Search and Selection Ltd 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.

2. Accounting policies

Basis of preparing the financial statements
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. 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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Innova Search and Selection Ltd (Registered number: 10946086)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. Accounting policies - continued

Operating leases
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.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 6 ) .

4. Tangible fixed assets
Fixtures
Leasehold and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 October 2022 6,624 23,573 - 34,290 64,487
Additions - 1,084 289,415 8,539 299,038
At 30 September 2023 6,624 24,657 289,415 42,829 363,525
Depreciation
At 1 October 2022 662 8,203 - 26,713 35,578
Charge for year 662 4,461 30,147 7,852 43,122
At 30 September 2023 1,324 12,664 30,147 34,565 78,700
Net book value
At 30 September 2023 5,300 11,993 259,268 8,264 284,825
At 30 September 2022 5,962 15,370 - 7,577 28,909

5. Debtors: amounts falling due within one year
30/9/23 30/9/22
£    £   
Trade debtors 76,131 100,825
Other debtors 8,763 20,000
84,894 120,825

Innova Search and Selection Ltd (Registered number: 10946086)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. Creditors: amounts falling due within one year
30/9/23 30/9/22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 30,582 -
Taxation and social security 42,658 97,583
Other creditors 158,039 74,649
241,279 182,232

Obligations under hire purchase contracts are secured on the underlying asset.

7. Creditors: amounts falling due after more than one year
30/9/23 30/9/22
£    £   
Bank loans 18,265 28,080
Hire purchase contracts 208,639 -
Other creditors 173,080 -
399,984 28,080

Obligations under hire purchase contracts are secured on the underlying asset.

8. Provisions for liabilities
30/9/23 30/9/22
£    £   
Deferred tax
Accelerated capital allowances - 4,360

Deferred
tax
£   
Balance at 1 October 2022 4,360
Credit to Statement of Income and Retained Earnings during
year

(4,360

)
Balance at 30 September 2023 -

9. Leasing commitments

At 30 September 2023 total commitments over the remaining term of the existing lease totalled £72,592 (2022 - £93,332) of which £20,740 (2022 - £20,740) is due within one year.