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REGISTERED NUMBER: 03738956 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INNAVISIONS LIMITED

INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)






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


INNAVISIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M L Hutchinson
D A Hutchinson
G D McKechnie
E J A Wilson



SECRETARY: E J A Wilson



REGISTERED OFFICE: H L Hutchinson Limited
Weasenham Lane
Wisbech
Cambridgeshire
PE13 2RN



REGISTERED NUMBER: 03738956 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Booty ACA FCCA CTA



AUDITORS: Wheelers
Chartered Accountants, Tax Consultants
& Statutory Auditors
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,904 11,145

CURRENT ASSETS
Stocks 2,928 39,161
Debtors 5 391,589 439,583
Cash at bank 738,778 441,426
1,133,295 920,170
CREDITORS
Amounts falling due within one year 6 473,537 550,106
NET CURRENT ASSETS 659,758 370,064
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,662

381,209

PROVISIONS FOR LIABILITIES 110 938
NET ASSETS 673,552 380,271

CAPITAL AND RESERVES
Called up share capital 130,000 130,000
Retained earnings 543,552 250,271
673,552 380,271

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 20 September 2024 and were signed on its behalf by:





E J A Wilson - Director


INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)

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

1. STATUTORY INFORMATION

Innavisions Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

These financial statements are presented for the year ended 31 December 2023. The comparatives are for the nine months ended 31 December 2022 and as a result are not entirely comparable. The previous accounting period was shortened to the day before the company became part of Hutchinson Group Limited.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents amounts receivable for goods, royalties and commission.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer, normally on dispatch.

Commission is recognised as income when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity, usually on payment to the third party from whom we receive the commission.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)

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

2. ACCOUNTING POLICIES - continued

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.

Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 48,381
Additions 7,940
Disposals (29,518 )
At 31 December 2023 26,803
DEPRECIATION
At 1 January 2023 37,236
Charge for year 4,421
Eliminated on disposal (28,758 )
At 31 December 2023 12,899
NET BOOK VALUE
At 31 December 2023 13,904
At 31 December 2022 11,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 331,026 384,953
Other debtors 60,563 54,630
391,589 439,583

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 89,936 137,485
Amounts owed to group undertakings 9,537 -
Taxation and social security 116,112 99,568
Other creditors 257,952 313,053
473,537 550,106

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 4,375 4,375

INNAVISIONS LIMITED (REGISTERED NUMBER: 03738956)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Booty ACA FCCA CTA (Senior Statutory Auditor)
for and on behalf of Wheelers

9. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate parent company to be Hutchinson Group Limited, a company incorporated in England and Wales. There is no overall controlling party of Hutchinson Group Limited. Copies of the group accounts can be obtained from Companies House.

Registered office and principal place of business:
Weasenham Lane
Wisbech
Cambridgeshire
PE13 2RN