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Registered Number: 13147769
England and Wales

 

 

 

IZ INNOVATIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 231,789    221,509 
231,789    221,509 
Current assets      
Creditors: amount falling due within one year 4 (600)   (1,140)
Net current assets (600)   (1,140)
 
Total assets less current liabilities 231,189    220,369 
Creditors: amount falling due after more than one year 5 (232,928)   (221,508)
Net assets (1,739)   (1,139)
 

Capital and reserves
     
Called up share capital 6 1    1 
Profit and loss account (1,740)   (1,140)
Shareholders' funds (1,739)   (1,139)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
Imtiaz PATEL
Director
1
General Information
IZ INNOVATIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 13147769, registration address 10 Cameron Road, Ground Floor Front, Seven Kings, IG3 8LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 February 2023 221,509    221,509 
Additions 10,280    10,280 
Disposals  
At 31 January 2024 231,789    231,789 
Depreciation
At 01 February 2023  
Charge for year  
On disposals  
At 31 January 2024  
Net book values
Closing balance as at 31 January 2024 231,789    231,789 
Opening balance as at 01 February 2023 221,509    221,509 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 600    1,140 
600    1,140 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Directors' Loan Accounts 232,928    221,508 
232,928    221,508 

6.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

2