1 March 2023 false No description of principal activity Taxfiler 2024.6 09452200business:PrivateLimitedCompanyLtd2023-03-012024-02-29 094522002023-02-28 094522002023-03-012024-02-29 09452200business:AuditExemptWithAccountantsReport2023-03-012024-02-29 09452200business:FilletedAccounts2023-03-012024-02-29 094522002024-02-29 09452200business:Director12023-03-012024-02-29 09452200business:RegisteredOffice2023-03-012024-02-29 094522002023-02-28 09452200core:WithinOneYear2024-02-29 09452200core:WithinOneYear2023-02-28 09452200core:AfterOneYear2024-02-29 09452200core:AfterOneYear2023-02-28 09452200core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 09452200core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 09452200core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 09452200core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 09452200core:PreviouslyStatedAmount2024-02-29 09452200core:PreviouslyStatedAmount2023-02-28 09452200business:SmallEntities2023-03-012024-02-29 09452200countries:EnglandWales2023-03-012024-02-29 09452200core:FurnitureFittings2023-03-012024-02-29 09452200core:ComputerEquipment2023-03-012024-02-29 09452200core:FurnitureFittings2023-02-28 09452200core:ComputerEquipment2023-02-28 09452200core:FurnitureFittings2024-02-29 09452200core:ComputerEquipment2024-02-29 094522002022-03-012023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 09452200 (England and Wales)
Innovative Financial Consulting Limited Unaudited accounts for the year ended 29 February 2024
Innovative Financial Consulting Limited Unaudited accounts Contents
Page
- 2 -
Innovative Financial Consulting Limited Company Information for the year ended 29 February 2024
Director
Mr Amidou Njie
Company Number
09452200 (England and Wales)
Registered Office
25 Meadow Road Watford WD25 0HZ
Accountants
RMR Partnership LLP 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
- 3 -
Innovative Financial Consulting Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,864 
2,452 
Current assets
Cash at bank and in hand
80,765 
113,612 
Creditors: amounts falling due within one year
(4,037)
(12,462)
Net current assets
76,728 
101,150 
Total assets less current liabilities
79,592 
103,602 
Creditors: amounts falling due after more than one year
(28,669)
(33,121)
Net assets
50,923 
70,481 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
50,913 
70,471 
Shareholders' funds
50,923 
70,481 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 October 2024 and were signed on its behalf by
Mr Amidou Njie Director Company Registration No. 09452200
- 4 -
Innovative Financial Consulting Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Innovative Financial Consulting Limited is a private company, limited by shares, registered in England and Wales, registration number 09452200. The registered office is 25 Meadow Road, Watford, WD25 0HZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance method
Computer equipment
20% reducing balance method
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
270 
5,815 
6,085 
Additions
- 
998 
998 
At 29 February 2024
270 
6,813 
7,083 
Depreciation
At 1 March 2023
134 
3,499 
3,633 
Charge for the year
27 
559 
586 
At 29 February 2024
161 
4,058 
4,219 
Net book value
At 29 February 2024
109 
2,755 
2,864 
At 28 February 2023
136 
2,316 
2,452 
- 5 -
Innovative Financial Consulting Limited Notes to the Accounts for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,294 
4,000 
Taxes and social security
(1,855)
7,622 
Loans from directors
598 
840 
4,037 
12,462 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
28,669 
33,121 
7
Average number of employees
During the year the average number of employees was 0 (2023: 1).
- 6 -