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REGISTERED NUMBER: 11128694 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

INNOVESTECH LTD

INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INNOVESTECH LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Ms E Sheldon





REGISTERED OFFICE: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ





REGISTERED NUMBER: 11128694 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,553 7,489

CURRENT ASSETS
Debtors 5 216,656 133,440
Cash at bank 3,568 4,508
220,224 137,948
CREDITORS
Amounts falling due within one year 6 110,753 91,462
NET CURRENT ASSETS 109,471 46,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,024

53,975

CREDITORS
Amounts falling due after more than one
year

7

34,766

35,613
NET ASSETS 79,258 18,362

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,257 18,361
79,258 18,362

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 director acknowledges her 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.

INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

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.

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 30 September 2024 and were signed by:





Ms E Sheldon - Director


INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Innovestech 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.

Equipment - 25% Straight line

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 1 (2023 - 1 ) .

INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 February 2023 18,927
Additions 811
At 31 January 2024 19,738
DEPRECIATION
At 1 February 2023 11,438
Charge for year 3,747
At 31 January 2024 15,185
NET BOOK VALUE
At 31 January 2024 4,553
At 31 January 2023 7,489

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,496 6,176
Other debtors 38,396 32,113
Directors' current accounts 163,764 95,151
216,656 133,440

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,222 5,222
Corporation tax 51,838 28,954
Social security and other taxes 479 -
VAT 9,765 19,912
Other creditors 38,396 32,113
Accruals and deferred income 5,053 5,261
110,753 91,462

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 34,766 35,613

INNOVESTECH LTD (REGISTERED NUMBER: 11128694)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 January 2024 the director owed the company £163,764 (2023: £95,151). Interest is charged at
HMRC's official rate, and is included within other debtors and is payable on demand.