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Company Registration No. 03097169 (England and Wales)
INNOVATE CONSULT LTD Unaudited accounts for the year ended 31 December 2023
INNOVATE CONSULT LTD Unaudited accounts Contents
Page
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INNOVATE CONSULT LTD Company Information for the year ended 31 December 2023
Director
D Allcock
Secretary
Mrs J A Allcock
Company Number
03097169 (England and Wales)
Registered Office
7 South Lodge Close Burgess Hill RH15 8LQ
Accountants
ACAX Limited 30 Bulwick Avenue Grimsby DN33 3BH
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INNOVATE CONSULT LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
214 
285 
Current assets
Inventories
- 
8,070 
Debtors
1,895 
2,967 
Cash at bank and in hand
3,986 
15,354 
5,881 
26,391 
Creditors: amounts falling due within one year
(846)
(9,562)
Net current assets
5,035 
16,829 
Net assets
5,249 
17,114 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
5,049 
16,914 
Shareholders' funds
5,249 
17,114 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 September 2024 and were signed on its behalf by
D Allcock Director Company Registration No. 03097169
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INNOVATE CONSULT LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
INNOVATE CONSULT LTD is a private company, limited by shares, registered in England and Wales, registration number 03097169. The registered office is 7 South Lodge Close, Burgess Hill, RH15 8LQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
3,297 
At 31 December 2023
3,297 
Depreciation
At 1 January 2023
3,012 
Charge for the year
71 
At 31 December 2023
3,083 
Net book value
At 31 December 2023
214 
At 31 December 2022
285 
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INNOVATE CONSULT LTD Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
422 
494 
Other debtors
1,473 
2,473 
1,895 
2,967 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
496 
9,212 
Accruals
350 
350 
846 
9,562 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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