REGISTERED NUMBER: 03916745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INOVEX SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Stapleton

Mr SC Chuan

REGISTERED OFFICE:

1 Robinson Close

Telford Way Industrial Estate

Kettering

Northants

NN16 8PU

REGISTERED NUMBER:

03916745 (England and Wales)

FIXED ASSETS

Intangible assets

4

38,722

48,403

Tangible assets

5

531,488

533,574

570,210

581,977

CURRENT ASSETS

Stocks

53,500

33,500

Debtors

6

442,652

649,159

Cash at bank

42,415

98,107

538,567

780,766

CREDITORS

Amounts falling due within one year

7

504,212

621,487

NET CURRENT ASSETS

34,355

159,279

TOTAL ASSETS LESS CURRENT LIABILITIES

604,565

741,256

CREDITORS

Amounts falling due after more than one year

8

255,392

287,892

NET ASSETS

349,173

453,364

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Retained earnings

149,173

253,364

SHAREHOLDERS' FUNDS

349,173

453,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Mr C Stapleton - Director

1.	STATUTORY INFORMATION

Inovex Systems Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company provides services to customers under standard terms and conditions. In all cases, revenue is recognised when the risk and rewards of ownership are transferred and this is defined to be on the completion of a service.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Taxation

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.

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 9 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

96,807

AMORTISATION

At 1 January 2024

48,404

Charge for year

9,681

At 31 December 2024

58,085

NET BOOK VALUE

At 31 December 2024

38,722

At 31 December 2023

48,403

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

531,136

11,654

5,260

Additions

-

1,660

-

At 31 December 2024

531,136

13,314

5,260

DEPRECIATION

At 1 January 2024

21,245

10,062

3,644

Charge for year

10,623

730

243

At 31 December 2024

31,868

10,792

3,887

NET BOOK VALUE

At 31 December 2024

499,268

2,522

1,373

At 31 December 2023

509,891

1,592

1,616

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

55,672

5,492

609,214

Additions

17,500

-

19,160

At 31 December 2024

73,172

5,492

628,374

DEPRECIATION

At 1 January 2024

35,817

4,872

75,640

Charge for year

9,339

311

21,246

At 31 December 2024

45,156

5,183

96,886

NET BOOK VALUE

At 31 December 2024

28,016

309

531,488

At 31 December 2023

19,855

620

533,574

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

380,550

630,122

Other debtors

62,102

19,037

442,652

649,159

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

32,500

32,500

Hire purchase contracts

-

678

Trade creditors

365,692

253,942

Taxation and social security

7,822

23,319

Other creditors

98,198

311,048

504,212

621,487

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

255,392

287,892

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalment

157,892

180,392

157,892

180,392