smallAccCompHo_0921.xslt
Company Registration No. 12243348 (England and Wales)
2INNOV8 LIMITED
Financial Statements
for the Period from 01 November 2023 to 31 October 2024

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

1. Statutory Information
2INNOV8 LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12243348.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
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.

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Tangible Fixed Asset Policy
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at ratescalculated 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 20% Cost

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

Intangible Asset Policy
Intellectual property assets are websites. It is amortised to the profit and loss account over its estimated economic life of 10 years
Deferred Tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2024 1
2023 1
4. Principal Activity
The principal activity of the company continued to be that of business and domestic software development

2INNOV8 LIMITED

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

5. Intangible Assets
Other Total
Cost £ £
At 01/11/2023 8,949 8,949
Additions - -
Disposals - -
Revaluations - -
At 31/10/2024 8,949 8,949
Amortisation
At 01/11/2023 3,605 3,605
Charge for the Year 895 895
On Disposals - -
Other increases/(decreases) - -
At end of period 4,500 4,500
Net book value
At 31/10/2024 4,449 4,449
At 31/10/2023 5,344 5,344
6. Fixed Assets
Computer Equipment Total
Cost or valuation £ £
At 01/11/2023 4,216 4,216
Additions - -
At 31/10/2024 4,216 4,216
Depreciation
At 01/11/2023 3,373 3,373
Charge for the year 843 843
At 31/10/2024 4,216 4,216
Net Book Value
At 31/10/2024 - -
At 31/10/2023 843 843