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Registered number: 13138207
INNOVATE CARE GROUP LIMITED
UNAUDITED
PAGES FOR FILING WITH REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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INNOVATE CARE GROUP LIMITED
REGISTERED NUMBER: 13138207
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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INNOVATE CARE GROUP LIMITED
REGISTERED NUMBER: 13138207
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The director considers 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 director acknowledges his 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 profit and loss account 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 by
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Ben Cambage
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The notes on pages 3 to 5 form part of these financial statements.
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INNOVATE CARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Innovate Care Group Limited is a company limited by shares that is registered in England and Wales. The registered office is 1 Vincent Square, London, SW1P 2PN and the company registration number is 13138207.
2.Accounting policies
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Basis of preparation of financial statements
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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:
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term 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.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 7).
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INNOVATE CARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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Creditors: Amounts falling due within one year
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Amounts owed to other participating interests
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Other taxation and social security
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Accruals and deferred income
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INNOVATE CARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Authorised, allotted, called up and fully paid
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1,111 (2023 - 1,000) Ordinary shares of £0.10 each
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During the year, 111 ordinary shares of £0.10 each were issued fully paid for cash at par value.
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Related party transactions
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During the year the loan of £2,641,310 to Innovate Complex Care Services Limited was written off (excpetional item note 4), these are both companies under the control of Ben Cambage.
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The ultimate controlling party is Ben Cambage by virtue of his 100% shareholding.
Investec Bank PLC hold a fixed and floating charge over the undertaking, encompassing all property and assets (present and future), including goodwill, intellectual property, uncalled capital, buildings, fixtures, fixed plant and machinery.
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