INNOTURE LIMITED

Company Registration Number:
07801618 (England and Wales)

Unaudited abridged accounts for the year ended 29 December 2022

Period of accounts

Start date: 31 December 2021

End date: 29 December 2022

INNOTURE LIMITED

Contents of the Financial Statements

for the Period Ended 29 December 2022

Balance sheet
Notes

INNOTURE LIMITED

Balance sheet

As at 29 December 2022


Notes

2022

2021


£

£
Fixed assets
Intangible assets: 3 421,763 418,978
Tangible assets: 4 33,964 45,285
Investments: 5 1 1
Total fixed assets: 455,728 464,264
Current assets
Stocks: 31,079 42,049
Debtors:   161,276 320,331
Cash at bank and in hand: 626 19,719
Total current assets: 192,981 382,099
Creditors: amounts falling due within one year:   (1,843,743) (1,108,275)
Net current assets (liabilities): (1,650,762) (726,176)
Total assets less current liabilities: (1,195,034) (261,912)
Creditors: amounts falling due after more than one year:   (1,956,097) (1,686,707)
Total net assets (liabilities): (3,151,131) (1,948,619)
Capital and reserves
Called up share capital: 10,517 10,415
Share premium account: 7,696,560 7,316,602
Profit and loss account: (10,858,208) (9,275,636)
Shareholders funds: (3,151,131) (1,948,619)

The notes form part of these financial statements

INNOTURE LIMITED

Balance sheet statements

For the year ending 29 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 March 2024
and signed on behalf of the board by:

Name: K W Jones
Status: Director

The notes form part of these financial statements

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Plant and machinery - 25% reducing balance

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costless any accumulated amortisation and any accumulated impairment losses.Amortisation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Patents & licences - 14 years straight line

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

2. Employees

2022 2021
Average number of employees during the period 13 14

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

3. Intangible Assets

Total
Cost £
At 31 December 2021 868,312
Additions 69,366
At 29 December 2022 937,678
Amortisation
At 31 December 2021 449,334
Charge for year 66,581
At 29 December 2022 515,915
Net book value
At 29 December 2022 421,763
At 30 December 2021 418,978

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

4. Tangible Assets

Total
Cost £
At 31 December 2021 182,408
At 29 December 2022 182,408
Depreciation
At 31 December 2021 137,123
Charge for year 11,321
At 29 December 2022 148,444
Net book value
At 29 December 2022 33,964
At 30 December 2021 45,285

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

5. Fixed investments

Cost and Net Book ValueAt 30 December 2021 and 29 December 2022 £1

INNOTURE LIMITED

Notes to the Financial Statements

for the Period Ended 29 December 2022

6. Loans to directors

Name of director receiving advance or credit: K W Jones
Description of the loan: The loan is unsecured and has no fixed date for repayment.
£
Balance at 31 December 2021 134,199
Advances or credits made: 17,720
Advances or credits repaid: 70,000
Balance at 29 December 2022 81,919

A repayment of £15,000 was made on 28 April 2023