Company No: 07800502 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Elaine Coles
	Kevin Brian Terence Coles

SECRETARY

Glenn Mark Cameron

REGISTERED OFFICE	2c Riley Close
	Royal Oak Industrial Estate
	Daventry
	NN11 8QT
	United Kingdom

COMPANY NUMBER

07800502 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Eagle House
	28 Billing Road
	Northampton
	NN1 5AJ

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	5	58,507		72,762
Investment property	6	170,333		170,333
		228,840		243,095
Current assets
Stocks	7	36,000		26,000
Debtors	8	166,559		91,938
Cash at bank and in hand	9	213,607		213,711
		416,166		331,649
Creditors: amounts falling due within one year	10	( 83,962)		( 21,979)
Net current assets		332,204		309,670
Total assets less current liabilities		561,044		552,765
Provision for liabilities	11, 12	( 12,881)		( 15,396)
Net assets		548,163		537,369
Capital and reserves
Called-up share capital		100		100
Profit and loss account		548,063		537,269
Total shareholders' funds		548,163		537,369

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Innovations Plus Limited (registered number: 07800502) were approved and authorised for issue by the Board of Directors on 30 October 2025. They were signed on its behalf by:

Kevin Brian Terence Coles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Innovations Plus Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2c Riley Close, Royal Oak Industrial Estate, Daventry, NN11 8QT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Vehicles	15 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow moving items.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

4. Dividends on equity shares

	2024		2023
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 31 October 2024.	72,000		50,000

5. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 November 2023	108,018		115,265		16,276		16,605		256,164
Disposals	0		( 12,000)		0		( 5,376)		( 17,376)
At 31 October 2024	108,018		103,265		16,276		11,229		238,788
Accumulated depreciation
At 01 November 2023	59,932		99,282		10,094		14,094		183,402
Charge for the financial year	7,213		3,996		927		627		12,763
Disposals	0		( 11,225)		0		( 4,659)		( 15,884)
At 31 October 2024	67,145		92,053		11,021		10,062		180,281
Net book value
At 31 October 2024	40,873		11,212		5,255		1,167		58,507
At 31 October 2023	48,086		15,983		6,182		2,511		72,762

6. Investment property

	Investment property
	£
Valuation
As at 01 November 2023	170,333
As at 31 October 2024	170,333

7. Stocks

	2024		2023
	£		£
Stocks	36,000		26,000

8. Debtors

	2024		2023
	£		£
Trade debtors	98,566		17,632
Amounts owed by directors (note 14)	60,332		67,183
Prepayments	6,157		5,188
VAT recoverable	0		431
Other debtors	1,504		1,504
	166,559		91,938

9. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	213,607		213,711

10. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	5,312		165
Accruals	3,940		4,158
Corporation tax	42,764		13,451
Other taxation and social security	10,058		3,025
Other creditors	21,888		1,180
	83,962		21,979

11. Provision for liabilities

	2024		2023
	£		£
Deferred tax	12,881		15,396

12. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 15,396)		( 15,316)
Credited/(charged) to the Profit and Loss Account	2,515		( 80)
At the end of financial year	( 12,881)		( 15,396)

13. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	16,500		16,500
between one and five years	66,000		66,000
after five years	49,500		66,000
Total future minimum lease payments under non-cancellable operating leases	132,000		148,500

14. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

	2024		2023
	£		£
Coles Mr K B T	30,207		35,411
Coles Mrs E	30,125		31,772
	60,332		67,183