Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Dr S R Takel 13/05/2008 20 January 2025 The principal activity of the Company during the financial year was the provision of management consultancy, innovation research and product development. 06590993 2024-06-30 06590993 bus:Director1 2024-06-30 06590993 2023-06-30 06590993 core:CurrentFinancialInstruments 2024-06-30 06590993 core:CurrentFinancialInstruments 2023-06-30 06590993 core:ShareCapital 2024-06-30 06590993 core:ShareCapital 2023-06-30 06590993 core:RetainedEarningsAccumulatedLosses 2024-06-30 06590993 core:RetainedEarningsAccumulatedLosses 2023-06-30 06590993 core:OfficeEquipment 2023-06-30 06590993 core:OfficeEquipment 2024-06-30 06590993 2023-07-01 2024-06-30 06590993 bus:FilletedAccounts 2023-07-01 2024-06-30 06590993 bus:SmallEntities 2023-07-01 2024-06-30 06590993 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06590993 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06590993 bus:Director1 2023-07-01 2024-06-30 06590993 core:OfficeEquipment 2023-07-01 2024-06-30 06590993 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 06590993 (England and Wales)

AZUR INNOVATION LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

AZUR INNOVATION LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

AZUR INNOVATION LIMITED

BALANCE SHEET

As at 30 June 2024
AZUR INNOVATION LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,277 6,208
5,277 6,208
Current assets
Debtors 4 75,000 53,993
Cash at bank and in hand 130,694 178,560
205,694 232,553
Creditors: amounts falling due within one year 5 ( 35,018) ( 39,874)
Net current assets 170,676 192,679
Total assets less current liabilities 175,953 198,887
Net assets 175,953 198,887
Capital and reserves
Called-up share capital 200 200
Profit and loss account 175,753 198,687
Total shareholders' funds 175,953 198,887

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Azur Innovation Limited (registered number: 06590993) were approved and authorised for issue by the Director on 20 January 2025. They were signed on its behalf by:

Dr S R Takel
Director
AZUR INNOVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
AZUR INNOVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Azur Innovation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 15 % reducing balance
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 12,019 12,019
At 30 June 2024 12,019 12,019
Accumulated depreciation
At 01 July 2023 5,811 5,811
Charge for the financial year 931 931
At 30 June 2024 6,742 6,742
Net book value
At 30 June 2024 5,277 5,277
At 30 June 2023 6,208 6,208

4. Debtors

2024 2023
£ £
Trade debtors 75,000 53,993

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 27,500 0
Taxation and social security ( 2,787) 27,045
Other creditors 10,305 12,829
35,018 39,874

6. Related party transactions

During the year the director maintained an interest free loan account with the company which is repayable on demand. At the balance sheet date the company owed £9,306 (2023 - £12,035) to the director.