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REGISTERED NUMBER: 08581202 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

INOV8 MEDICAL LTD

INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INOV8 MEDICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: Mrs J L Kay





REGISTERED OFFICE: Suite 6
2nd Floor, Springfield House
Wilmslow
Cheshire
SK9 5BG





REGISTERED NUMBER: 08581202 (England and Wales)





ACCOUNTANTS: Strathmore Accountants Limited
3rd Floor, Ivy Mill,
Crown Street,
Failsworth
Manchester
M35 9BG

INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 593 890
Tangible assets 5 - 6,186
593 7,076

CURRENT ASSETS
Stocks 64,031 50,261
Debtors 6 13,286 30,397
Cash at bank and in hand 3,683 12,596
81,000 93,254
CREDITORS
Amounts falling due within one year 7 (76,359 ) (86,548 )
NET CURRENT ASSETS 4,641 6,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,234

13,782

CREDITORS
Amounts falling due after more than one
year

8

(41,946

)

(50,562

)
NET LIABILITIES (36,712 ) (36,780 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (36,715 ) (36,783 )
SHAREHOLDERS' FUNDS (36,712 ) (36,780 )

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

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

The director acknowledges her 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.

INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)

BALANCE SHEET - continued
30 NOVEMBER 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 director and authorised for issue on 29 August 2024 and were signed by:





Mrs J L Kay - Director


INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Inov8 Medical 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks & licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 December 2022
and 30 November 2023 3,984
AMORTISATION
At 1 December 2022 3,094
Charge for year 297
At 30 November 2023 3,391
NET BOOK VALUE
At 30 November 2023 593
At 30 November 2022 890

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 December 2022
and 30 November 2023 41,494
DEPRECIATION
At 1 December 2022 35,308
Charge for year 6,186
At 30 November 2023 41,494
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 6,186

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,432 14,286
Other debtors 9,854 16,111
13,286 30,397

INOV8 MEDICAL LTD (REGISTERED NUMBER: 08581202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 15,522 9,667
Hire purchase contracts 3,207 3,207
Trade creditors 24,769 37,582
Taxation and social security 3,144 3,479
Other creditors 29,717 32,613
76,359 86,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 31,832 37,241
Hire purchase contracts 10,114 13,321
41,946 50,562

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,393 17,202