REGISTERED NUMBER: 07056687 (England and Wales)

Financial Statements for the Year Ended 31st January 2025

for

Innovate Security Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Harris

Mrs H F Harris

REGISTERED OFFICE:

Ground Floor

Southway House

29 Southway

Colchester

Essex

CO2 7BA

REGISTERED NUMBER:

07056687 (England and Wales)

FIXED ASSETS

Tangible assets

4

10,933

4,978

CURRENT ASSETS

Debtors

5

9,518

44,123

Cash at bank

63,730

86,690

73,248

130,813

CREDITORS

Amounts falling due within one year

6

54,082

90,579

NET CURRENT ASSETS

19,166

40,234

TOTAL ASSETS LESS CURRENT LIABILITIES

30,099

45,212

CREDITORS

Amounts falling due after more than one year

7

(5,284

)

-

PROVISIONS FOR LIABILITIES

(2,733

)

(1,245

)

NET ASSETS

22,082

43,967

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

21,982

43,867

SHAREHOLDERS' FUNDS

22,082

43,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2025 and were signed on its behalf by:

M A Harris - Director

Mrs H F Harris - Director

1.	STATUTORY INFORMATION

Innovate Security Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st February 2024

17,756

Additions

14,489

Disposals

(16,486

)

At 31st January 2025

15,759

DEPRECIATION

At 1st February 2024

12,778

Charge for year

3,644

Eliminated on disposal

(11,596

)

At 31st January 2025

4,826

NET BOOK VALUE

At 31st January 2025

10,933

At 31st January 2024

4,978

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,518

43,873

Other debtors

-

250

9,518

44,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,053

1,980

Taxation and social security

29,722

57,167

Other creditors

23,307

31,432

54,082

90,579

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

5,284

-

8.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by its directors M. Harris and H. Harris who each own 50% of the share capital.