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REGISTERED NUMBER: 09843632 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

INNOVATIVE PARTNERS GROUP LIMITED

INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Investment property 4 210,060 195,000

CURRENT ASSETS
Debtors 5 1,792 1,999
Cash at bank 701 359
2,493 2,358
CREDITORS
Amounts falling due within one year 6 (47,683 ) (40,762 )
NET CURRENT LIABILITIES (45,190 ) (38,404 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,870

156,596

CREDITORS
Amounts falling due after more than one
year

7

(146,452

)

(138,741

)

PROVISIONS FOR LIABILITIES (3,081 ) (3,081 )
NET ASSETS 15,337 14,774

CAPITAL AND RESERVES
Called up share capital 200 200
Non-distributable
reserve 13,144 13,144
Retained earnings 1,993 1,430
15,337 14,774

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


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 22 July 2025 and were signed on its behalf by:





A P S Nayyar - Director


INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

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


1. STATUTORY INFORMATION

Innovative Partners Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09843632

Registered office: Europa House
Marsham Way
Gerrards Cross
Buckinghamshire
SL9 8BQ

The principal activity of the company is that of an investment property company.

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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment properties

The open market value of the investment properties has been determined by the director, based on mortgage valuations and his experience of the market.

REVENUE RECOGNITION
Turnover represents rental income which is recognised in the relevant rental period.

INVESTMENT PROPERTY
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 195,000
Additions 15,060
At 31 October 2024 210,060
NET BOOK VALUE
At 31 October 2024 210,060
At 31 October 2023 195,000

INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

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


4. INVESTMENT PROPERTY - continued

The directors consider the investment properties to be stated at fair value as at 31 October 2024.

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2023 16,216
Cost 193,844
210,060

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Amount due from connected
companies 1,792 1,999
1,792 1,999

Amounts due from connected companies are unsecured, interest free and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 5,400 5,400
Tax 132 337
Directors' current accounts 41,071 32,506
Accruals and deferred income 1,080 2,519
47,683 40,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-2 years 3,150 5,400
Bank loans - 2-5 years - 3,150
Other loans more than 5 years
non-instalments 143,302 130,191
146,452 138,741

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more than 5 years
non-instalments 143,302 130,191
143,302 130,191

The company has a Government bounce back loan, the loan is repayable by May 2026.

INNOVATIVE PARTNERS GROUP LIMITED (REGISTERED NUMBER: 09843632)

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


8. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.