IRIS Accounts Production v24.3.0.553 06108219 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061082192023-02-28061082192024-02-29061082192023-03-012024-02-29061082192022-02-28061082192022-03-012023-02-28061082192023-02-2806108219ns15:EnglandWales2023-03-012024-02-2906108219ns14:PoundSterling2023-03-012024-02-2906108219ns10:Director12023-03-012024-02-2906108219ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2906108219ns10:SmallEntities2023-03-012024-02-2906108219ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2906108219ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2906108219ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2906108219ns10:FullAccounts2023-03-012024-02-2906108219ns10:CompanySecretary12023-03-012024-02-2906108219ns10:RegisteredOffice2023-03-012024-02-2906108219ns5:CurrentFinancialInstruments2024-02-2906108219ns5:CurrentFinancialInstruments2023-02-2806108219ns5:Non-currentFinancialInstruments2024-02-2906108219ns5:Non-currentFinancialInstruments2023-02-2806108219ns5:ShareCapital2024-02-2906108219ns5:ShareCapital2023-02-2806108219ns5:RetainedEarningsAccumulatedLosses2024-02-2906108219ns5:RetainedEarningsAccumulatedLosses2023-02-2806108219ns5:PlantMachinery2023-03-012024-02-2906108219ns5:MotorVehicles2023-03-012024-02-2906108219ns5:PlantMachinery2023-02-2806108219ns5:MotorVehicles2023-02-2806108219ns5:PlantMachinery2024-02-2906108219ns5:MotorVehicles2024-02-2906108219ns5:PlantMachinery2023-02-2806108219ns5:MotorVehicles2023-02-2806108219ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2806108219ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2906108219ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-02-2906108219ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2806108219ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2906108219ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2806108219ns5:RetainedEarningsAccumulatedLosses2023-02-2806108219ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 06108219 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

INNOV8IVE (UK) LTD

INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INNOV8IVE (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr D B Jarvis





SECRETARY: Mrs L Jarvis





REGISTERED OFFICE: 4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL





REGISTERED NUMBER: 06108219 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co Ltd
Chartered Certified Accountants
4 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,519 101,515

CURRENT ASSETS
Stocks 32,520 33,253
Debtors 5 356,354 337,319
Cash at bank and in hand 52,064 86,321
440,938 456,893
CREDITORS
Amounts falling due within one year 6 132,363 167,783
NET CURRENT ASSETS 308,575 289,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,094

390,625

CREDITORS
Amounts falling due after more than one year 7 (89,906 ) (71,315 )

PROVISIONS FOR LIABILITIES (25,677 ) (20,339 )
NET ASSETS 328,511 298,971

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 328,411 298,871
SHAREHOLDERS' FUNDS 328,511 298,971

INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)

BALANCE SHEET - continued
29 FEBRUARY 2024


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 November 2024 and were signed by:





Mr D B Jarvis - Director


INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)

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

1. STATUTORY INFORMATION

Innov8ive (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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and Machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
Machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 29,274 169,907 199,181
Additions 2,731 75,365 78,096
At 29 February 2024 32,005 245,272 277,277
DEPRECIATION
At 1 March 2023 15,803 81,863 97,666
Charge for year 3,240 40,852 44,092
At 29 February 2024 19,043 122,715 141,758
NET BOOK VALUE
At 29 February 2024 12,962 122,557 135,519
At 28 February 2023 13,471 88,044 101,515

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 116,855
Additions 75,365
At 29 February 2024 192,220
DEPRECIATION
At 1 March 2023 39,718
Charge for year 38,125
At 29 February 2024 77,843
NET BOOK VALUE
At 29 February 2024 114,377
At 28 February 2023 77,137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 149,465 148,866
Other debtors 206,889 188,453
356,354 337,319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,161 9,908
Finance leases 27,201 18,107
Trade creditors 7,410 70,472
Taxation and social security 38,061 29,908
Other creditors 49,530 39,388
132,363 167,783

INNOV8IVE (UK) LTD (REGISTERED NUMBER: 06108219)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,952 24,113
Finance leases 75,954 47,202
89,906 71,315

8. RESERVES
Retained
earnings
£   

At 1 March 2023 298,871
Profit for the year 151,039
Dividends (121,499 )
At 29 February 2024 328,411

9. ULTIMATE CONTROLLING PARTY

In the opinion of the director, Mr & Mrs Jarvis who together owns 90% of the shares, are the company's ultimate controllers.