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REGISTERED NUMBER: 03654087 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Innovative Solutions (UK) Ltd

Innovative Solutions (UK) Ltd (Registered number: 03654087)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Innovative Solutions (UK) Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A Rigby





REGISTERED OFFICE: Unit 1 - 3 Mayfield Centre
Mayfield Street
Rochdale
Lancs
OL16 2UZ





REGISTERED NUMBER: 03654087 (England and Wales)





ACCOUNTANTS: Mosley & Co
14 Market Place
Ramsbottom
Bury
Lancashire
BL0 9HT

Innovative Solutions (UK) Ltd (Registered number: 03654087)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21 29

CURRENT ASSETS
Stocks 30,627 15,114
Debtors 5 12,521 8,211
Cash at bank and in hand 46,554 53,822
89,702 77,147
CREDITORS
Amounts falling due within one year 6 9,592 7,499
NET CURRENT ASSETS 80,110 69,648
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,131

69,677

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80,031 69,577
SHAREHOLDERS' FUNDS 80,131 69,677

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Innovative Solutions (UK) Ltd (Registered number: 03654087)

Statement of Financial Position - continued
31 May 2024


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 director and authorised for issue on 15 October 2024 and were signed by:





A Rigby - Director


Innovative Solutions (UK) Ltd (Registered number: 03654087)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Innovative Solutions (UK) Ltd 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.

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 etc - 33% on cost and 25% on reducing balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

Innovative Solutions (UK) Ltd (Registered number: 03654087)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 1,515
DEPRECIATION
At 1 June 2023 1,486
Charge for year 8
At 31 May 2024 1,494
NET BOOK VALUE
At 31 May 2024 21
At 31 May 2023 29

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 7,729 7,727
Amounts owed by participating interests 3,625 -
Other debtors 1,167 484
12,521 8,211

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,043 1,199
Taxation and social security 7,849 4,726
Other creditors 700 1,574
9,592 7,499

7. RELATED PARTY DISCLOSURES

During the year Innovative Solutions (UK) Limited purchased goods from Richard Whittaker Limited totalling £107,310 and sold goods to Richard Whittaker Limited totalling £30,824 on normal commercial terms.