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REGISTERED NUMBER: 07672450 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INNOVA TAX FREE (UK) LIMITED

INNOVA TAX FREE (UK) LIMITED (REGISTERED NUMBER: 07672450)

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


INNOVA TAX FREE (UK) LIMITED

COMPANY INFORMATION
for the year ended 31 DECEMBER 2023







DIRECTORS: N Fountas
D J E Marland
A Valacsay





REGISTERED OFFICE: 7th Floor, North Block, 55 Baker Street,
London
W1U 7EU





REGISTERED NUMBER: 07672450 (England and Wales)





ACCOUNTANTS: Randall Robinson
Office 3.14
85 Gresham Street
London
EC2V 7NQ

INNOVA TAX FREE (UK) LIMITED (REGISTERED NUMBER: 07672450)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks - 22,195
Debtors 4 (3,463 ) 5,603
Cash at bank 1,074 258
(2,389 ) 28,056
CREDITORS
Amounts falling due within one year 5 1,841,485 1,869,448
NET CURRENT LIABILITIES (1,843,874 ) (1,841,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,843,874

)

(1,841,392

)

CAPITAL AND RESERVES
Called up share capital 235,750 235,750
Retained earnings (2,079,624 ) (2,077,142 )
SHAREHOLDERS' FUNDS (1,843,874 ) (1,841,392 )

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.

INNOVA TAX FREE (UK) LIMITED (REGISTERED NUMBER: 07672450)

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 24 September 2024 and were signed on its behalf by:





N Fountas - Director


INNOVA TAX FREE (UK) LIMITED (REGISTERED NUMBER: 07672450)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023


1. STATUTORY INFORMATION

Innova Tax Free (UK) 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 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
VAT 137 26,840
Accruals (3,600 ) (21,237 )
(3,463 ) 5,603

INNOVA TAX FREE (UK) LIMITED (REGISTERED NUMBER: 07672450)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Long-Term Loans 265,260 265,260
Trade creditors - 182
TOURIST - 1,516
SUPPLIERS -CLIENT - 30,240
AGENT CREDITORS 389,190 370,920
Amounts owed to group undertakings 1,187,035 1,161,615
Net wages control - (301 )
Tourist Liability - 40,016
1,841,485 1,869,448

6. RELATED PARTY DISCLOSURES

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.