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REGISTERED NUMBER: 11523398 (England and Wales)















INNOVCO RETAIL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






INNOVCO RETAIL LTD (REGISTERED NUMBER: 11523398)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INNOVCO RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: Mr J. Cohen
Mr S Cohen





REGISTERED OFFICE: 30 Commercial Road
Edmonton
London
N18 1TP





REGISTERED NUMBER: 11523398 (England and Wales)





ACCOUNTANTS: Carston ETL
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

INNOVCO RETAIL LTD (REGISTERED NUMBER: 11523398)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 20,414 15,214
Cash at bank and in hand 68,751 52,679
89,165 67,893
CREDITORS
Amounts falling due within one year 5 58,285 41,798
NET CURRENT ASSETS 30,880 26,095
TOTAL ASSETS LESS CURRENT LIABILITIES 30,880 26,095

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 30,878 26,093
SHAREHOLDERS' FUNDS 30,880 26,095

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 15th May 2025 and were signed on its behalf by:





Mr S Cohen - Director


INNOVCO RETAIL LTD (REGISTERED NUMBER: 11523398)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Innovco Retail Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

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.

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.

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 year 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,525 5,166
Amounts owed by group undertakings 8,137 8,137
Other debtors 2,752 1,911
20,414 15,214

INNOVCO RETAIL LTD (REGISTERED NUMBER: 11523398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,741 6,354
Amounts owed to group undertakings 50,000 31,886
Taxation and social security 1,822 1,932
Other creditors 1,722 1,626
58,285 41,798

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

7. ULTIMATE CONTROLLING PARTY

The Innovco Group Limited is the immediate and ultimate parent undertaking and is incorporated in England & Wales. The registered office is 30 Commercial Road, Edmonton, London, United Kingdom, N18 1TP.