NIBS Innovate Ltd. - Filleted accounts

Registered number

08314461

NIBS Innovate Ltd.

Filleted Accounts

31 March 2025

NIBS Innovate Ltd.
Registered number:		08314461
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		2,298			3,283

Current assets
Debtors	4	5,675			4,875
Cash at bank and in hand		4,210			4
		9,885			4,879

Creditors: amounts falling due within one year	5	(10,793)			(8,037)

Net current liabilities			(908)			(3,158)

Net assets			1,390			125

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,290			25

Shareholder's funds			1,390			125

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




Nicholas Irons
Director
Approved by the board on 15 December 2025

NIBS Innovate Ltd.
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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.

	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:

	Fixtures, fittings, tools and equipment	30% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price).

	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.

	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.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		1		1


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 1 April 2024				11,505
	At 31 March 2025				11,505

	Depreciation
	At 1 April 2024				8,222
	Charge for the year				985
	At 31 March 2025				9,207

	Net book value
	At 31 March 2025				2,298
	At 31 March 2024				3,283


4	Debtors		2025		2024
£				£

	Trade debtors		5,675		4,875


5	Creditors: amounts falling due within one year		2025		2024
£				£

	Taxation and social security costs		9,780		7,307
	Other creditors		1,013		730
			10,793		8,037


6	Other information

	NIBS Innovate Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
	Beretun, Lilley Green Farm
	Lilley Green Road
	Alvechurch
	Birmingham
	B48 7HA