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REGISTERED NUMBER: 06988400 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INNOVATION DB AND FORUM LIMITED

INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INNOVATION DB AND FORUM LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Dr G V C Law
P R Liptrot





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
WN1 2TB





REGISTERED NUMBER: 06988400 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 372,638 372,084
Tangible assets 5 (42 ) 228
372,596 372,312

CURRENT ASSETS
Debtors 6 5,849 4,510
Cash at bank 11,259 16,328
17,108 20,838
CREDITORS
Amounts falling due within one year 7 120,971 113,889
NET CURRENT LIABILITIES (103,863 ) (93,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,733

279,261

CREDITORS
Amounts falling due after more than one
year

8

45,691

6,342
NET ASSETS 223,042 272,919

CAPITAL AND RESERVES
Called up share capital 2,844 2,844
Share premium 691,596 676,596
Retained earnings (471,398 ) (406,521 )
SHAREHOLDERS' FUNDS 223,042 272,919

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.

INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 5 June 2024 and were signed on its behalf by:





Dr G V C Law - Director


INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Innovation Db And Forum 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.

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 represents the net invoiced value of goods sold, excluding value added tax.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 714,609
Additions 80,017
At 31 December 2023 794,626
AMORTISATION
At 1 January 2023 342,525
Charge for year 79,463
At 31 December 2023 421,988
NET BOOK VALUE
At 31 December 2023 372,638
At 31 December 2022 372,084

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 3,155
DEPRECIATION
At 1 January 2023 2,927
Charge for year 270
At 31 December 2023 3,197
NET BOOK VALUE
At 31 December 2023 (42 )
At 31 December 2022 228

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,849 4,510

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,006 2,505
Taxation and social security 4,368 -
Other creditors 108,597 111,384
120,971 113,889

INNOVATION DB AND FORUM LIMITED (REGISTERED NUMBER: 06988400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 45,691 6,342

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,667 -

9. ULTIMATE CONTROLLING PARTY

The controlling party is Dr G V C Law.