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REGISTERED NUMBER: 04079436 (England and Wales)















INNOVATIVE CREATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

30 OCTOBER 2022 TO 31 MARCH 2024






INNOVATIVE CREATIONS LIMITED (REGISTERED NUMBER: 04079436)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 OCTOBER 2022 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


INNOVATIVE CREATIONS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 30 OCTOBER 2022 TO 31 MARCH 2024







DIRECTORS: Mr J D Brand
Mrs G K Brand





REGISTERED OFFICE: 24 Maplehurst Road
Colchester
Essex
CO4 6BQ





REGISTERED NUMBER: 04079436 (England and Wales)

INNOVATIVE CREATIONS LIMITED (REGISTERED NUMBER: 04079436)

BALANCE SHEET
31 MARCH 2024

2024 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,355 3,331

CURRENT ASSETS
Debtors 5 491,426 258,290
Cash at bank 13,173 31,991
504,599 290,281
CREDITORS
Amounts falling due within one year 6 (329,048 ) (234,207 )
NET CURRENT ASSETS 175,551 56,074
TOTAL ASSETS LESS CURRENT LIABILITIES 177,906 59,405

CREDITORS
Amounts falling due after more than one year 7 (29,812 ) (36,492 )

PROVISIONS FOR LIABILITIES (589 ) -
NET ASSETS 147,505 22,913

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 147,504 22,912
147,505 22,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Mr J D Brand - Director


INNOVATIVE CREATIONS LIMITED (REGISTERED NUMBER: 04079436)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 OCTOBER 2022 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Innovative Creations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

For the purposes of presentation, the financial statements are rounded to the nearest Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial instruments are measured at amortised cost.

Taxation
Taxation for the period 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 4 ) .

INNOVATIVE CREATIONS LIMITED (REGISTERED NUMBER: 04079436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 OCTOBER 2022 TO 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 30 October 2022 4,644 8,900 13,544
Additions - 316 316
At 31 March 2024 4,644 9,216 13,860
DEPRECIATION
At 30 October 2022 4,644 5,569 10,213
Charge for period - 1,292 1,292
At 31 March 2024 4,644 6,861 11,505
NET BOOK VALUE
At 31 March 2024 - 2,355 2,355
At 29 October 2022 - 3,331 3,331

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 2,880 4,500
Other debtors 488,546 253,790
491,426 258,290

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 10,369 10,000
Trade creditors 362 -
Taxation and social security 311,593 217,118
Other creditors 6,724 7,089
329,048 234,207

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 29,812 36,492

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2022
£    £   
Within one year 5,013 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, Mr J Brand owed the company £354,724 (2022: £188,479).

At the year end, Mrs G K Brand owed the company £11,332 (2022: due £2,234)