Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312025-05-22true32023-11-01falseinvestment properties and the operating of own or leased real estate.3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04441655 2023-11-01 2024-10-31 04441655 2022-11-01 2023-10-31 04441655 2024-10-31 04441655 2023-10-31 04441655 c:Director1 2023-11-01 2024-10-31 04441655 d:FurnitureFittings 2023-11-01 2024-10-31 04441655 d:FurnitureFittings 2024-10-31 04441655 d:FurnitureFittings 2023-10-31 04441655 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 04441655 d:CurrentFinancialInstruments 2024-10-31 04441655 d:CurrentFinancialInstruments 2023-10-31 04441655 d:Non-currentFinancialInstruments 2024-10-31 04441655 d:Non-currentFinancialInstruments 2023-10-31 04441655 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 04441655 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 04441655 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 04441655 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 04441655 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 04441655 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 04441655 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 04441655 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 04441655 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-10-31 04441655 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 04441655 d:ShareCapital 2024-10-31 04441655 d:ShareCapital 2023-10-31 04441655 d:InvestmentPropertiesRevaluationReserve 2024-10-31 04441655 d:InvestmentPropertiesRevaluationReserve 2023-10-31 04441655 d:RetainedEarningsAccumulatedLosses 2024-10-31 04441655 d:RetainedEarningsAccumulatedLosses 2023-10-31 04441655 c:OrdinaryShareClass1 2023-11-01 2024-10-31 04441655 c:OrdinaryShareClass1 2024-10-31 04441655 c:FRS102 2023-11-01 2024-10-31 04441655 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04441655 c:FullAccounts 2023-11-01 2024-10-31 04441655 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04441655 2 2023-11-01 2024-10-31 04441655 e:PoundSterling 2023-11-01 2024-10-31 04441655 d:EntityControlledByKeyManagementPersonnel1 2023-11-01 2024-10-31 04441655 d:EntityControlledByKeyManagementPersonnel1 2024-10-31 04441655 d:EntityControlledByKeyManagementPersonnel2 2023-11-01 2024-10-31 04441655 d:EntityControlledByKeyManagementPersonnel2 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04441655









INNOV8IVE INVESTMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
INNOV8IVE INVESTMENT COMPANY LIMITED
REGISTERED NUMBER: 04441655

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
115
153

Investment property
 5 
-
450,000

  
115
450,153

Current assets
  

Stocks
 6 
-
1,500,780

Debtors: amounts falling due within one year
 7 
-
1,200

Cash at bank and in hand
 8 
1,643,844
9,631

  
1,643,844
1,511,611

Creditors: amounts falling due within one year
 9 
(43,327)
(54,872)

Net current assets
  
 
 
1,600,517
 
 
1,456,739

Total assets less current liabilities
  
1,600,632
1,906,892

Creditors: amounts falling due after more than one year
 10 
(1,299,380)
(1,371,493)

  

Net assets
  
301,252
535,399


Capital and reserves
  

Called up share capital 
 12 
50
100

Revaluation reserve
  
-
846

Profit and loss account
  
301,202
534,453

  
301,252
535,399


Page 1

 
INNOV8IVE INVESTMENT COMPANY LIMITED
REGISTERED NUMBER: 04441655
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.




G K Kakar
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Innov8ive Investment Company Limited, is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in investment properties and the operating of own or leased real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for sale of residential flats and rent from commercial and residential properties. Revenue from the sale of properties is recognised when the properties have been transferred to the customers such that the risks and rewards of ownership are transferred to them.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
on a reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.8

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Page 4

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees



The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 November 2023
4,110



At 31 October 2024

4,110



Depreciation


At 1 November 2023
3,957


Charge for the year
38



At 31 October 2024

3,995



Net book value



At 31 October 2024
115



At 31 October 2023
153


5.


Investment property





Investment property

£



Valuation


At 1 November 2023
450,000


Disposals
(450,000)



At 31 October 2024
-






Page 6

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Stocks

2024
2023
£
£

Property
-
1,500,780

-
1,500,780



7.


Debtors

2024
2023
£
£


Trade debtors
-
1,200

-
1,200



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,643,844
9,631

1,643,844
9,631



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
26,930

Trade creditors
8,447
4,885

Other taxation and social security
297
1,307

Other creditors
21,583
18,750

Accruals and deferred income
3,000
3,000

43,327
54,872




Page 7

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,930
98,043

Other creditors
1,273,450
1,273,450

1,299,380
1,371,493





11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
26,930

Amounts falling due 1-2 years

Bank loans
10,000
24,406

Amounts falling due 2-5 years

Bank loans
15,930
52,960

Amounts falling due after more than 5 years

Bank loans
-
20,677

35,930
124,973



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 100)  Ordinary shares of £1 each
50
100

On 4 June 2024, a resolution was passed to cancel 50 Ordinary shares of £1 each.


Page 8

 
INNOV8IVE INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

13.


Related party transactions

Included within other creditors, falling due within one year, is an amount of £21,583 (2023 - £18,750) due to G K Kakar, a director. During the year, the company paid £8,682 (2023 - £9,000) in management fees to G K Kakar.
 
Included within other creditors, falling due after more than one year, is an amount of £1,273,450 (2023 - £1,273,450) due to N K Kakar, a director.



14.


Controlling party

The ultimate controlling parties are directors by virtue of their majority shareholding in the company.

 
Page 9