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REGISTERED NUMBER: 09512972 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INNOVATIVE ASSET MANAGEMENT LTD

INNOVATIVE ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09512972)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INNOVATIVE ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Y M I Bhailok
Dr F Y Bhailok
A Y Bhailok





REGISTERED OFFICE: Haighton House
Cow Hill
Haighton
Preston
Lancashire
PR2 5SJ





REGISTERED NUMBER: 09512972 (England and Wales)





ACCOUNTANTS: Turner Accountants
Chartered Accountants
9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND

INNOVATIVE ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09512972)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 582,436 523,884
Debtors 4 226,131 209,501
Cash at bank 41 1
808,608 733,386
CREDITORS
Amounts falling due within one year 5 703,176 629,373
NET CURRENT ASSETS 105,432 104,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,432

104,013

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 105,427 104,008
105,432 104,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 3 April 2024 and were signed on its behalf by:





Y M I Bhailok - Director


INNOVATIVE ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09512972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Innovative Asset Management 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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 ) .

INNOVATIVE ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09512972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 226,034 108,926
Other debtors 97 100,575
226,131 209,501

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to associates 702,402 628,465
Other creditors 774 908
703,176 629,373

6. RELATED PARTY DISCLOSURES

As at 31 December 2023 Innovative Asset Management Ltd owed Aalborg Place LLP, a related entity,
£3109 (2021: £3,615).

As at 31 December 2023 Innovative Asset Management Ltd were owed £4,000 (2022: nil) from Courtyard House , a related entity.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Unity (YB) Holdings Ltd.

Haighton House
Cow Hill
Preston
PR2 5SJ