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Registration number: 06438943

Innovatum Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Innovatum Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Innovatum Limited

(Registration number: 06438943)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

652,217

579,789

Investments

5

2

2

 

652,219

579,791

Current assets

 

Stocks

6

234,347

193,823

Debtors

7

297,701

273,675

Cash at bank and in hand

 

2,172,868

1,732,611

 

2,704,916

2,200,109

Creditors: Amounts falling due within one year

8

(272,739)

(264,389)

Net current assets

 

2,432,177

1,935,720

Total assets less current liabilities

 

3,084,396

2,515,511

Provisions for liabilities

(131,007)

(106,072)

Net assets

 

2,953,389

2,409,439

Capital and Reserves

 

Called up share capital

1,470,049

1,470,049

Capital redemption reserve

51

51

Retained Earnings

1,483,289

939,339

Shareholders' funds

 

2,953,389

2,409,439

 

Innovatum Limited

(Registration number: 06438943)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2025
 

.........................................
RJ Nunn
Director

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:

Unit 11/12
Woodside Business Park
Thetford Road
Bury St Edmunds
IP31 1NR
United Kingdom

These financial statements were authorised for issue by the director on 27 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements.

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance and 10 years straight line

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 8).

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

73,222

255,454

3,109,047

3,437,723

Additions

12,029

-

285,464

297,493

Disposals

-

(17,590)

-

(17,590)

At 31 December 2024

85,251

237,864

3,394,511

3,717,626

Depreciation

At 1 January 2024

58,722

112,594

2,686,618

2,857,934

Charge for the year

4,814

35,552

184,045

224,411

Eliminated on disposal

-

(16,936)

-

(16,936)

At 31 December 2024

63,536

131,210

2,870,663

3,065,409

Carrying amount

At 31 December 2024

21,715

106,654

523,848

652,217

At 31 December 2023

14,500

142,860

422,429

579,789

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Investments

2024
 £

2023
 £

Investment in subsidiary

2

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Innovatum Systems Limited

England

100%

100%

Innovatum Systems Limited is dormant.

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

234,347

193,823

7

Debtors

Current

2024
£

2023
£

Trade Debtors

239,200

241,898

Prepayments

33,752

20,107

Other debtors

24,749

11,670

 

297,701

273,675

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

35,719

30,901

Taxation and social security

216,814

139,437

Accruals and deferred income

8,572

62,395

Other creditors

11,634

31,656

272,739

264,389

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £64,821 (2023 - £64,821).

 

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Material advance

(28,331)

50,000

(21,669)

-

Material advance

-

20,771

(20,771)

-

Material advance

-

-

-

-

Material advance

-

-

-

-

Material advance

-

-

-

-

Repaid

-

128,374

(132,560)

(4,186)

(28,331)

199,145

(175,000)

(4,186)

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Material advance

-

18,483

(18,483)

-

Material advance

-

10,000

(10,000)

-

Material advance

-

-

-

-

Material advance

-

-

-

-

Material advance

-

-

-

-

Repaid

(27,829)

71,015

(71,517)

(28,331)

(27,829)

99,498

(100,000)

(28,331)

 

11

Parent and ultimate parent undertaking

The ultimate controlling party is RJ Nunn.