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REGISTERED NUMBER: 05676112 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Inneva Group Limited

Inneva Group Limited (Registered number: 05676112)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Inneva Group Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: Mr I Harrison
Mr M R Hudswell
Mr S D O'Neill





SECRETARY: Mr I Harrison





REGISTERED OFFICE: Carnival Way
Castle Donington
Derby
Derbyshire
DE74 2HP





REGISTERED NUMBER: 05676112 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Inneva Group Limited (Registered number: 05676112)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,751 3,986
2,751 3,986

CURRENT ASSETS
Stocks 20,228 28,585
Debtors 84,886 142,565
Investments 100 100
Prepayments and accrued income 8,765 6,818
Cash at bank and in hand 168,869 123,883
282,848 301,951
CREDITORS
Amounts falling due within one year 77,499 94,492
NET CURRENT ASSETS 205,349 207,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

208,100

211,445

ACCRUALS AND DEFERRED INCOME 22,230 20,605
NET ASSETS 185,870 190,840

RESERVES
Retained earnings 185,870 190,840
SHAREHOLDERS' FUNDS 185,870 190,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Inneva Group Limited (Registered number: 05676112)

Abridged Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 October 2024 and were signed on its behalf by:





Mr I Harrison - Director


Inneva Group Limited (Registered number: 05676112)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Inneva Group 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Employee benefit trust
The company previously established the Inneva Employee Benefit Trust (EBT). The EBT and Inneva Limited together established an Enterprise Management Incentive (EMI) Scheme. Inneva Trustees Limited, a wholly owned subsidiary of Inneva Limited, is the sole trustee of the EBT.
The assets and the liabilities of the EBT are ring-fenced to be applied for the benefits of employees of Inneva Limited as the trustees of Inneva Trustees Limited determines.
Inneva Limited previously made contributions and a loan to the EBT totalling £58,000. No contributions were made in the current year.
To date Inneva Trustees Limited has applied some of the EBT funds to acquire 4,666 ordinary shares in Inneva Limited from a shareholder for market value consideration. These shares were acquired in order to facilitate the operation of the EMI Scheme.
In previous years options over 2,200 ordinary shares in the Company were granted by Inneva Trustees Limited to three employees of Inneva Limited.
No options have yet been exercised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

Inneva Group Limited (Registered number: 05676112)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 8,864
AMORTISATION
At 1 February 2023
and 31 January 2024 8,864
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 62,198
Additions 2,045
At 31 January 2024 64,243
DEPRECIATION
At 1 February 2023 58,212
Charge for year 3,280
At 31 January 2024 61,492
NET BOOK VALUE
At 31 January 2024 2,751
At 31 January 2023 3,986

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,177 2,375
Between one and five years - 2,177
2,177 4,552

7. SECURED DEBTS

Svenska Handelsbanken hold a fixed and floating charge over property and assets of the company present and future.

Inneva Group Limited (Registered number: 05676112)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £ £
20,000 Ordinary £1.00 - -
1,230 Ordinary 'B' £0.10 - -
1,600 Ordinary 'C' £0.10 - -
2,500 Ordinary 'D' £0.10 - -
2,500 Ordinary 'E' £0.10 - -
- -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr M R Hudswell
Balance outstanding at start of year - -
Amounts advanced 390 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 390 -