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REGISTERED NUMBER: 07977942 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INNOVA ENGINEERING LIMITED

INNOVA ENGINEERING LIMITED (REGISTERED NUMBER: 07977942)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


INNOVA ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: A R Thomson





REGISTERED OFFICE: The Old Rectory
School Lane
Quedgeley
GLOUCESTER
GL2 4PN





REGISTERED NUMBER: 07977942 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

INNOVA ENGINEERING LIMITED (REGISTERED NUMBER: 07977942)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 70,847 94,243

CURRENT ASSETS
Inventories 79,588 109,807
Debtors 5 127,026 93,036
Cash at bank 74,127 324,119
280,741 526,962
CREDITORS
Amounts falling due within one year 6 95,565 257,116
NET CURRENT ASSETS 185,176 269,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,023

364,089

PROVISIONS FOR LIABILITIES 17,711 23,561
NET ASSETS 238,312 340,528

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 238,307 340,523
SHAREHOLDERS' FUNDS 238,312 340,528

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

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

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 June 2025 and were signed by:





A R Thomson - Director


INNOVA ENGINEERING LIMITED (REGISTERED NUMBER: 07977942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Innova Engineering 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.

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 comprises of the invoiced value of goods and services supplied by the company, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fixtures and fittings - 25% on reducing balance
Office equipment - at variable rates on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 year was 1 (2023 - 1 ) .

INNOVA ENGINEERING LIMITED (REGISTERED NUMBER: 07977942)

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


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold and Office
improvements fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2024
and 31 December 2024 10,720 27,765 264,266 302,751
Depreciation
At 1 January 2024 5,038 20,795 182,675 208,508
Charge for year 1,072 2,424 19,900 23,396
At 31 December 2024 6,110 23,219 202,575 231,904
Net book value
At 31 December 2024 4,610 4,546 61,691 70,847
At 31 December 2023 5,682 6,970 81,591 94,243

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,747 40,542
Other debtors 86,279 52,494
127,026 93,036

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,489 170,573
Taxation and social security - 42,984
Other creditors 93,076 43,559
95,565 257,116

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 19,465 19,465
Between one and five years 61,639 77,860
81,104 97,325

8. RELATED PARTY DISCLOSURES

Included within other debtors: amounts falling due within one year is a loan due from A6 Labs Limited, in the sum of £2,175 (2023: £30,650). The loan is unsecured, interest free and carries no fixed date of repayment.

Included within other creditors: amounts falling due within one year is a loan due to Packet Company Services Limited, in the sum of £50,000. The loan is unsecured, interest free and was repaid after the year end date.