Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseThe principal activity of the company is that of management consultancy services.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13831432 2023-02-01 2024-01-31 13831432 2022-01-06 2023-01-31 13831432 2024-01-31 13831432 2023-01-31 13831432 c:Director1 2023-02-01 2024-01-31 13831432 d:ComputerEquipment 2023-02-01 2024-01-31 13831432 d:ComputerEquipment 2024-01-31 13831432 d:ComputerEquipment 2023-01-31 13831432 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13831432 d:CurrentFinancialInstruments 2024-01-31 13831432 d:CurrentFinancialInstruments 2023-01-31 13831432 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13831432 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13831432 d:ShareCapital 2023-02-01 2024-01-31 13831432 d:ShareCapital 2024-01-31 13831432 d:ShareCapital 2022-01-06 2023-01-31 13831432 d:ShareCapital 2023-01-31 13831432 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 13831432 d:RetainedEarningsAccumulatedLosses 2024-01-31 13831432 d:RetainedEarningsAccumulatedLosses 2022-01-06 2023-01-31 13831432 d:RetainedEarningsAccumulatedLosses 2023-01-31 13831432 c:OrdinaryShareClass1 2023-02-01 2024-01-31 13831432 c:OrdinaryShareClass1 2024-01-31 13831432 c:OrdinaryShareClass1 2023-01-31 13831432 c:OrdinaryShareClass2 2023-02-01 2024-01-31 13831432 c:OrdinaryShareClass2 2024-01-31 13831432 c:OrdinaryShareClass2 2023-01-31 13831432 c:FRS102 2023-02-01 2024-01-31 13831432 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13831432 c:FullAccounts 2023-02-01 2024-01-31 13831432 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13831432 2 2023-02-01 2024-01-31 13831432 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13831432









INNOVATION LEAP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
INNOVATION LEAP LIMITED
REGISTERED NUMBER: 13831432

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
791
1,041

  
791
1,041

Current assets
  

Debtors: amounts falling due within one year
 5 
177,599
66,587

Cash at bank and in hand
  
114,794
75,893

  
292,393
142,480

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(86,935)
(77,230)

Net current assets
  
 
 
205,458
 
 
65,250

Total assets less current liabilities
  
206,249
66,291

  

Net assets
  
206,249
66,291


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
206,149
66,191

  
206,249
66,291


Page 1

 
INNOVATION LEAP LIMITED
REGISTERED NUMBER: 13831432
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2024.




W Minde
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
INNOVATION LEAP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 February 2023
100
66,191
66,291


Comprehensive income for the year

Profit for the year
-
270,221
270,221
Total comprehensive income for the year
-
270,221
270,221


Contributions by and distributions to owners

Dividends: Equity capital
-
(130,263)
(130,263)


Total transactions with owners
-
(130,263)
(130,263)


At 31 January 2024
100
206,149
206,249


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
INNOVATION LEAP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period
-
217,191
217,191
Total comprehensive income for the period
-
217,191
217,191


Contributions by and distributions to owners

Dividends: Equity capital
-
(151,000)
(151,000)

Shares issued during the period
100
-
100


Total transactions with owners
100
(151,000)
(150,900)


At 31 January 2023
100
66,191
66,291


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
INNOVATION LEAP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Innovation Leap Limited is a private company limited by shares and incorporated in England and Wales. The registered office is 124 Finchley, London, NW3 5JS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of management consultancy services supplied during the year, exclusive of Value Added Tax.  Revenue is recognised as per the terms defined in the service agreements.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due.

Page 5

 
INNOVATION LEAP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, see table below.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

Page 6

 
INNOVATION LEAP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable.


3.


Employees

31 January
Period ended
31 January
2024
2023
£
£

Wages and salaries
12,000
9,000

Cost of defined contribution scheme
1,500
-

13,500
9,000


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 7

 
INNOVATION LEAP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2023
1,065



At 31 January 2024

1,065



Depreciation


At 1 February 2023
24


Charge for the year on owned assets
250



At 31 January 2024

274



Net book value



At 31 January 2024
791



At 31 January 2023
1,041

Page 8

 
INNOVATION LEAP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
11,748
37,750

Other debtors
165,851
28,137

Prepayments and accrued income
-
700

177,599
66,587



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
500
19,810

Other taxation and social security
86,435
57,420

86,935
77,230



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



51 (2023 - 51) Ordinary A shares of £1.00 each
51
51
49 (2023 - 49) Ordinary B shares of £1.00 each
49
49

100

100



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,500 (2023: £Nil).


9.


Related party transactions

At the reporting date, the director owed the company £165,851 (2023: £28,137) which is included in other debtors and was cleared by way of dividend within 9 months of the year end. Interest has been charged at the official rate of interest.

 
Page 9