Registered number
13560536
Innovation Office Ltd
Filleted Accounts
31 August 2024
Innovation Office Ltd
Registered number: 13560536
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,070 -
Current assets
Debtors 4 855 32,564
Cash at bank and in hand 42,825 16,236
43,680 48,800
Creditors: amounts falling due within one year 5 (24,694) (12,541)
Net current assets 18,986 36,259
Net assets 20,056 36,259
Capital and reserves
Called up share capital 10 10
Profit and loss account 20,046 36,249
Shareholder's funds 20,056 36,259
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Schneider
Director
Approved by the board on 3 December 2024
Innovation Office Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 1,451
At 31 August 2024 1,451
Depreciation
Charge for the year 381
At 31 August 2024 381
Net book value
At 31 August 2024 1,070
4 Debtors 2024 2023
£ £
Trade debtors - 31,126
Other debtors 855 1,438
855 32,564
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,560 4,570
Taxation and social security costs 19,446 7,970
Other creditors 2,688 1
24,694 12,541
6 Other information
Innovation Office Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Enfield Road
Flat 4
London
England
N1 5EN
Innovation Office Ltd 13560536 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 David Schneider No description of principal activity 13560536 2022-09-01 2023-08-31 13560536 core:WithinOneYear 2023-08-31 13560536 core:ShareCapital 2023-08-31 13560536 core:RetainedEarningsAccumulatedLosses 2023-08-31 13560536 2023-09-01 2024-08-31 13560536 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13560536 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 13560536 bus:Director40 2023-09-01 2024-08-31 13560536 1 2023-09-01 2024-08-31 13560536 2 2023-09-01 2024-08-31 13560536 core:PlantMachinery 2023-09-01 2024-08-31 13560536 countries:England 2023-09-01 2024-08-31 13560536 bus:FRS102 2023-09-01 2024-08-31 13560536 bus:FilletedAccounts 2023-09-01 2024-08-31 13560536 2024-08-31 13560536 core:WithinOneYear 2024-08-31 13560536 core:ShareCapital 2024-08-31 13560536 core:RetainedEarningsAccumulatedLosses 2024-08-31 13560536 core:PlantMachinery 2024-08-31 13560536 2023-08-31 iso4217:GBP xbrli:pure