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Registered number: 14149229
Inov8 Design Ltd
Financial Statements
For The Year Ended 30 June 2024
QED London Limited
Chartered Certified Accountants
128 City Road
London
EC1V 2NX
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14149229
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,006 15,554
20,006 15,554
CURRENT ASSETS
Cash at bank and in hand 17,184 8,330
17,184 8,330
Creditors: Amounts Falling Due Within One Year 5 (33,796 ) (20,398 )
NET CURRENT ASSETS (LIABILITIES) (16,612 ) (12,068 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,394 3,486
NET ASSETS 3,394 3,486
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 3,392 3,484
SHAREHOLDERS' FUNDS 3,394 3,486
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Manvir Brar
Director
28 March 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Inov8 Design Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14149229 . The registered office is 1 Hortus Road, Southall, Middlesex, UB2 4AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 15,554
Additions 4,452
As at 30 June 2024 20,006
Net Book Value
As at 30 June 2024 20,006
As at 1 July 2023 15,554
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,192 4,540
Other creditors 16,644 9,654
Accruals and deferred income 6,960 6,204
33,796 20,398
Page 2
Page 3
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 3