Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activitytrue2022-05-01false2true 3917517 2022-05-01 2023-08-31 3917517 2021-05-01 2022-04-30 3917517 2023-08-31 3917517 2022-04-30 3917517 c:Director1 2022-05-01 2023-08-31 3917517 d:OfficeEquipment 2022-05-01 2023-08-31 3917517 d:OfficeEquipment 2023-08-31 3917517 d:OfficeEquipment 2022-04-30 3917517 d:CurrentFinancialInstruments 2023-08-31 3917517 d:CurrentFinancialInstruments 2022-04-30 3917517 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 3917517 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 3917517 d:ShareCapital 2023-08-31 3917517 d:ShareCapital 2022-04-30 3917517 d:RetainedEarningsAccumulatedLosses 2023-08-31 3917517 d:RetainedEarningsAccumulatedLosses 2022-04-30 3917517 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 3917517 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-04-30 3917517 c:OrdinaryShareClass1 2022-05-01 2023-08-31 3917517 c:OrdinaryShareClass1 2023-08-31 3917517 c:OrdinaryShareClass1 2022-04-30 3917517 c:FRS102 2022-05-01 2023-08-31 3917517 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-08-31 3917517 c:FullAccounts 2022-05-01 2023-08-31 3917517 c:PrivateLimitedCompanyLtd 2022-05-01 2023-08-31 3917517 2 2022-05-01 2023-08-31 3917517 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 3917517 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 3917517










INNOVATIONS BY DESIGN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2023
 


 
INNOVATIONS BY DESIGN LIMITED
REGISTERED NUMBER: 3917517

BALANCE SHEET
AS AT 31 AUGUST 2023

31 August
30 April
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
2,422

Current assets
  

Cash at bank and in hand
 5 
-
6,164

  
-
6,164

Creditors: amounts falling due within one year
 6 
(5,275)
(10,745)

Net current liabilities
  
 
 
(5,275)
 
 
(4,581)

Total assets less current liabilities
  
(5,275)
(2,159)

Provisions for liabilities
  

Deferred tax
 8 
-
(460)

  
 
 
-
 
 
(460)

Net liabilities
  
(5,275)
(2,619)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(5,375)
(2,719)

  
(5,275)
(2,619)


Page 1

 
INNOVATIONS BY DESIGN LIMITED
REGISTERED NUMBER: 3917517

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



A C George
Director

Date: 19 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
INNOVATIONS BY DESIGN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.3

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
INNOVATIONS BY DESIGN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.Accounting policies (continued)

 
1.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 4

 
INNOVATIONS BY DESIGN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.Accounting policies (continued)

 
1.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


2.


General information

Innovations By Design Limited is a limited company incorporated in England and Wales. The Company’s registered office is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).

Page 5

 
INNOVATIONS BY DESIGN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

4.


Tangible fixed assets







Office equipment

£





At 1 May 2022
7,190


Disposals
(7,190)



At 31 August 2023

-





At 1 May 2022
4,768


Disposals
(4,768)



At 31 August 2023

-



Net book value



At 31 August 2023
-



At 30 April 2022
2,422


5.


Cash and cash equivalents

31 August
30 April
2023
2022
£
£

Cash at bank and in hand
-
6,164



6.


Creditors: Amounts falling due within one year

31 August
30 April
2023
2022
£
£

Trade creditors
-
210

Other creditors
-
200

Directors' loan account
5,275
10,335

5,275
10,745


Page 6

 
INNOVATIONS BY DESIGN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

7.


Financial instruments

31 August
30 April
2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
-
6,164




Financial assets measured at fair value through profit or loss comprise cash held.


8.


Deferred taxation






2023


£






At beginning of year
(460)


Charged to profit or loss
460



At end of year
-

The deferred taxation balance is made up as follows:

31 August
30 April
2023
2022
£
£


Accelerated capital allowances
-
(460)


9.


Share capital

31 August
30 April
2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 7