REGISTERED NUMBER: |
INNOTRADE LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
REGISTERED NUMBER: |
INNOTRADE LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
INNOTRADE LTD (REGISTERED NUMBER: 07022553) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 JUNE 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INNOTRADE LTD |
COMPANY INFORMATION |
for the Year Ended 30 JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
167 Turners Hill |
Cheshunt |
Hertfordshire |
EN8 9BH |
INNOTRADE LTD (REGISTERED NUMBER: 07022553) |
ABRIDGED BALANCE SHEET |
30 JUNE 2024 |
30.6.24 | 30.6.23 |
£ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
INNOTRADE LTD (REGISTERED NUMBER: 07022553) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Innotrade Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in Pound Sterling, which is also the functional currency. Figures in the statements are rounded to the nearest £1. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Debtors |
Trade and other debtors are recognised at the settlement amounts. Prepayments are valued at the amount prepaid. |
Cash at bank and in hand |
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations. |
Creditors |
Creditors are recognised where the company has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
INNOTRADE LTD (REGISTERED NUMBER: 07022553) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 JUNE 2024 |
4. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
5. | ULTIMATE CONTROLLING PARTY |
The company's parent company is Innotrade Group Ltd, a company registered at 2a Lord Street, Douglas, IM99 1HP, Isle of Man.This company is a 100% subsidiary of Sabco Australia PTY Ltd which is in turn a 100% subsidiary of The Libman Company, an Illinois Corporation. The Libman Company is owned and run by the Libman Family. |