IRIS Accounts Production v23.3.1.45 NI659123 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6591232022-02-28NI6591232023-02-28NI6591232022-03-012023-02-28NI6591232021-02-28NI6591232021-03-012022-02-28NI6591232022-02-28NI659123ns10:Originalns15:NorthernIreland2022-03-012023-02-28NI659123ns14:PoundSterlingns10:Original2022-03-012023-02-28NI659123ns10:Originalns10:Director12022-03-012023-02-28NI659123ns10:Original2022-03-012023-02-28NI659123ns10:Original2023-02-28NI659123ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-28NI659123ns10:Originalns10:SmallEntities2022-03-012023-02-28NI659123ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-28NI659123ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-28NI659123ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-28NI659123ns10:Originalns10:FullAccounts2022-03-012023-02-28NI659123ns10:Originalns10:Director22022-03-012023-02-28NI659123ns10:Originalns10:Director32022-03-012023-02-28NI659123ns10:Originalns10:RegisteredOffice2022-03-012023-02-28NI659123ns10:Original2022-02-28NI659123ns10:Originalns5:CurrentFinancialInstruments2023-02-28NI659123ns10:Originalns5:CurrentFinancialInstruments2022-02-28NI659123ns10:Originalns5:Non-currentFinancialInstruments2023-02-28NI659123ns10:Originalns5:Non-currentFinancialInstruments2022-02-28NI659123ns5:ShareCapitalns10:Original2023-02-28NI659123ns5:ShareCapitalns10:Original2022-02-28NI659123ns10:Originalns5:SharePremium2023-02-28NI659123ns10:Originalns5:SharePremium2022-02-28NI659123ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-28NI659123ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-28NI659123ns10:Original2021-03-012022-02-28NI659123ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28NI659123ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-28NI659123ns10:Original1ns10:Director12022-02-28NI659123ns10:Original1ns10:Director12021-02-28NI659123ns10:Original1ns10:Director12022-03-012023-02-28NI659123ns10:Original1ns10:Director12021-03-012022-02-28NI659123ns10:Original1ns10:Director12023-02-28NI659123ns10:Original1ns10:Director12022-02-28NI659123ns10:Originalns10:Director222022-02-28NI659123ns10:Originalns10:Director222021-02-28NI659123ns10:Originalns10:Director222022-03-012023-02-28NI659123ns10:Originalns10:Director222021-03-012022-02-28NI659123ns10:Originalns10:Director222023-02-28NI659123ns10:Originalns10:Director222022-02-28NI659123ns10:Originalns10:Director332022-02-28NI659123ns10:Originalns10:Director332021-02-28NI659123ns10:Originalns10:Director332022-03-012023-02-28NI659123ns10:Originalns10:Director332021-03-012022-02-28NI659123ns10:Originalns10:Director332023-02-28NI659123ns10:Originalns10:Director332022-02-28
REGISTERED NUMBER: NI659123 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

INNOVATIVE POWER GENERATION LTD

INNOVATIVE POWER GENERATION LTD (REGISTERED NUMBER: NI659123)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


INNOVATIVE POWER GENERATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: B McGee
J D Cunningham
R W J McGee





REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG





REGISTERED NUMBER: NI659123 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

INNOVATIVE POWER GENERATION LTD (REGISTERED NUMBER: NI659123)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
CURRENT ASSETS
Debtors 4 929,702 264,946
Cash at bank 339 25,261
930,041 290,207
CREDITORS
Amounts falling due within one year 5 377,787 378,248
NET CURRENT ASSETS/(LIABILITIES) 552,254 (88,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,254

(88,041

)

CREDITORS
Amounts falling due after more than one
year

6

188,019

188,019
NET ASSETS/(LIABILITIES) 364,235 (276,060 )

CAPITAL AND RESERVES
Called up share capital 417,692 405,423
Share premium 1,096,678 290,577
Retained earnings (1,150,135 ) (972,060 )
SHAREHOLDERS' FUNDS 364,235 (276,060 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

INNOVATIVE POWER GENERATION LTD (REGISTERED NUMBER: NI659123)

BALANCE SHEET - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





B McGee - Director


INNOVATIVE POWER GENERATION LTD (REGISTERED NUMBER: NI659123)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Innovative Power Generation Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. DEBTORS
28.2.23 28.2.22
£    £   
Amounts falling due within one year:
Other debtors 680,700 200,997

Amounts falling due after more than one year:
Amounts owed by related party 249,002 63,949

Aggregate amounts 929,702 264,946

INNOVATIVE POWER GENERATION LTD (REGISTERED NUMBER: NI659123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 347,424 349,486
Other creditors 30,363 28,762
377,787 378,248

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 50,000 50,000
Amounts owed to related party 138,019 138,019
188,019 188,019

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
B McGee
Balance outstanding at start of year 78,211 10,197
Amounts advanced 148,421 69,014
Amounts repaid (11,000 ) (1,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 215,632 78,211

J D Cunningham
Balance outstanding at start of year 56,969 -
Amounts advanced 246,167 56,969
Amounts repaid (3,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 300,136 56,969

R W J McGee
Balance outstanding at start of year 65,819 -
Amounts advanced 106,215 65,819
Amounts repaid (7,100 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 164,934 65,819