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Registered number: 12413977
Innovex Group Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12413977
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 - 200,000
- 200,000
CURRENT ASSETS
Debtors 5 84,193 17,207
Cash at bank and in hand - 500
84,193 17,707
Creditors: Amounts Falling Due Within One Year 6 (45,680 ) (173,338 )
NET CURRENT ASSETS (LIABILITIES) 38,513 (155,631 )
TOTAL ASSETS LESS CURRENT LIABILITIES 38,513 44,369
Creditors: Amounts Falling Due After More Than One Year 7 (35,710 ) (41,363 )
NET ASSETS 2,803 3,006
CAPITAL AND RESERVES
Called up share capital 8 102 102
Profit and Loss Account 2,701 2,904
SHAREHOLDERS' FUNDS 2,803 3,006
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J K Alderton
Director
9 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Innovex Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12413977 . The registered office is Unit 31c Kestrel Business Centre Private Road 2, Colwick Industrial Estate, Nottingham, NG4 2JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investments
Subsidiaries
£
Cost
As at 1 April 2023 200,000
Disposals (200,000 )
As at 31 March 2024 -
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 200,000
Fixed asset investments are initially recorded at cost and subsequently stated at cost less any accumulated impairment losses.
The company owns 100% of the share capital in UK Audio Engineering Limited.
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 15,000 13,436
Other debtors 69,193 3,059
VAT - 712
84,193 17,207
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 562 1,347
Bank loans and overdrafts 6,192 6,237
Corporation tax 145 242
VAT 2,856 -
Amounts owed to group undertakings 35,925 165,512
45,680 173,338
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,710 41,363
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
Page 4