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INNOVANT LIMITED

Registered Number
05806771
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

INNOVANT LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BRAHAM, Charles
PLUCK, Garrett

Company Secretary

BRAHAM, Charles

Registered Address

56 West Street
Shoreham-By-Sea
BN43 5WG

Registered Number

05806771 (England and Wales)
INNOVANT LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors39,8871,237,061
Cash at bank and on hand652,399282,425
662,2861,519,486
Creditors amounts falling due within one year4(389,218)(1,477,648)
Net current assets (liabilities)273,06841,838
Total assets less current liabilities273,06841,838
Net assets273,06841,838
Capital and reserves
Called up share capital22
Profit and loss account273,06641,836
Shareholders' funds273,06841,838
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2025, and are signed on its behalf by:
BRAHAM, Charles
Director
PLUCK, Garrett
Director

Registered Company No. 05806771
INNOVANT LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year00
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables9,8871,237,061
Total9,8871,237,061
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,625967,237
Taxation and social security101,096187,756
Other creditors276,496273,091
Accrued liabilities and deferred income4,00149,564
Total389,2181,477,648
5.Related party transactions
The directors and shareholders G Pluck and C Braham, also control Innovant Inc. a company incorporated in the USA. The company paid management charges of £4,046 (2022: £671,627) and commission of £20,319 (2022: £492,952) to Innovant Inc. Included in trade creditors is £5,135 (2022: £922,974) owed to Innovant Inc. Included in other creditors is £276,363 (2022: £272,958) owed to Innovant Inc.