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REGISTERED NUMBER: 11190575 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

INNOVATIVE PORTFOLIO INVESTMENTS LTD

INNOVATIVE PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INNOVATIVE PORTFOLIO INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: R Mukori





SECRETARY: Ms T K Mitchell





REGISTERED OFFICE: 17 Hungate Lane
Methley
Leeds
LS26 9DT





REGISTERED NUMBER: 11190575 (England and Wales)





ACCOUNTANTS: D & J Randles
Chartered Accountants
4 The Crescent
Adel
Leeds
West Yorkshire
LS16 6AA

INNOVATIVE PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)

ABRIDGED BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 115 153
Investment property 5 676,053 680,696
676,168 680,849

CURRENT ASSETS
Debtors 20,871 15,997
Cash at bank 41,946 1,108
62,817 17,105
CREDITORS
Amounts falling due within one year 216,269 295,478
NET CURRENT LIABILITIES (153,452 ) (278,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,716

402,476

CREDITORS
Amounts falling due after more than one
year

6

(484,709

)

(258,405

)

PROVISIONS FOR LIABILITIES 8 (7,250 ) (27,395 )
NET ASSETS 30,757 116,676

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 30,755 116,674
SHAREHOLDERS' FUNDS 30,757 116,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)

ABRIDGED BALANCE SHEET - continued
29 FEBRUARY 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 Balance Sheet for the year ended 29 February 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 director and authorised for issue on 4 November 2024 and were signed by:





R Mukori - Director


INNOVATIVE PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Innovative Portfolio Investments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable. The company is not registered for value added tax.

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 - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2023 - NIL).

INNOVATIVE PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 484
DEPRECIATION
At 1 March 2023 331
Charge for year 38
At 29 February 2024 369
NET BOOK VALUE
At 29 February 2024 115
At 28 February 2023 153

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 680,696
Additions 89,458
Revaluations (94,101 )
At 29 February 2024 676,053
NET BOOK VALUE
At 29 February 2024 676,053
At 28 February 2023 680,696

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2020 32,922
Valuation in 2021 50,986
Valuation in 2022 7,500
Valuation in 2023 111,070
Valuation in 2024 (94,101 )
Cost 567,676
676,053

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 567,676 478,218

Investment property was valued on an open market basis on 28 February 2024 by the director .

INNOVATIVE PORTFOLIO INVESTMENTS LTD (REGISTERED NUMBER: 11190575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
29.2.24 28.2.23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 481,978 253,455

7. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 486,909 403,105

Bank loans are secured by first charges on the company's investment properties.

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 7,250 27,395

Deferred
tax
£   
Balance at 1 March 2023 27,395
Provided during year (20,145 )
Balance at 29 February 2024 7,250

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £0.02 2 2