Innova Nanojet Technologies Ltd

Registered number

SC743004

Filleted Accounts

31 December 2024

Innova Nanojet Technologies Ltd
Registered number:		SC743004
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		918,206			162,276
Tangible assets	4		3,234,367			33,972
			4,152,573			196,248

Current assets
Stocks		519,125			-
Debtors	5	23,660			13,340
Cash at bank and in hand		1,248,192			2,165,124
		1,790,977			2,178,464

Creditors: amounts falling due within one year	6	(1,367,007)			(1,630,851)

Net current (liabilities)/assets			423,970			547,613

Net assets			4,576,543			743,861

Capital and reserves
Called up share capital			8,081,263			1,000,000
Share premium			23,142			-
Profit and loss account			(3,527,862)			(256,139)

Shareholders' funds			4,576,543			743,861

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr C Wang
Director
Approved by the board on 9 September 2025

Innova Nanojet Technologies Ltd
Notes to the Accounts
for the period from 1 September 2023 to 31 December 2024


1	Accounting policies

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost and will be released to the Profit & Loss when sales are realised.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land, buildings & Property Improvements	0% Straight line
	Fixtures, fittings, tools and equipment	20% Straight line
	Plant & Machinery	20% Straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			27		5


3	Intangible fixed assets					R&D Costs
	Research & Development:					£

	Cost
	At 1 September 2023					162,276
	Additions					755,930
	At 31 December 2024					918,206

	Amortisation
	At 31 December 2024					-

	Net book value
	At 31 December 2024					918,206
	At 31 August 2023					162,276

	Research & Development costs have been capitalised in the balance sheet and will be written off to the Profit & Loss when sales, attributable to these costs, have been realised.


4	Tangible fixed assets
		Land, buildings and Improvements		Plant, machinery, Fixtures and Fittings		Total
£			£		£
	Cost
	At 1 September 2023	-		35,519		35,519
	Additions	2,053,475		1,359,017		3,412,492
	At 31 December 2024	2,053,475		1,394,536		3,448,011

	Depreciation
	At 1 September 2023	-		1,547		1,547
	Charge for the period	92,439		119,658		212,097
	At 31 December 2024	92,439		121,205		213,644

	Net book value
	At 31 December 2024	1,961,036		1,273,331		3,234,367
	At 31 August 2023	-		33,972		33,972


5	Debtors			2024		2023
£					£

	Other debtors			23,660		13,340


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Taxation and social security costs			37,005		9,253
	Other creditors			1,330,002		1,621,598
				1,367,007		1,630,851


7	Controlling party

	Innova Capital Llc, a company registered in the USA, held a 83.38% beneficial interest in the share capital of the company.


8	Other information

	Innova Nanojet Technologies Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	Inovo Building 121 George Street
	Unit 1G
	Glasgow
	G1 1RD

	Additionally, the company pay a service provider, PCL, in the USA for staff working for Innova Nanojet Technologies Ltd. PCL charge a management fee for the payroll services in the USA.