REGISTERED NUMBER: 05997039 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE INNOVATION UNIT LTD

(A COMPANY LIMITED BY GUARANTEE)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

O O O Afuape

V M Hannon

D P Roberts

J D Thomas

C Augst

T R Bynon

R S Ryan

SECRETARY:

D Jenkins

REGISTERED OFFICE:

Runway East

20 St Thomas Street

London

SE1 9RS

REGISTERED NUMBER:

05997039 (England and Wales)

AUDITORS:

Liles Morris Limited

1st Floor

80 Coombe Road

New Malden

Surrey

KT3 4QS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,660

12,075

10,660

12,075

CURRENT ASSETS

Debtors

6

739,971

746,186

Cash at bank

573,014

769,506

1,312,985

1,515,692

CREDITORS

Amounts falling due within one year

7

(521,363

)

(602,266

)

NET CURRENT ASSETS

791,622

913,426

TOTAL ASSETS LESS CURRENT LIABILITIES

802,282

925,501

PROVISIONS FOR LIABILITIES

(2,665

)

(3,890

)

NET ASSETS

799,617

921,611

RESERVES

Income and expenditure account

799,617

921,611

799,617

921,611

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 19 December 2025 and were signed on its behalf by:

D P Roberts - Director

1.	STATUTORY INFORMATION

The Innovation Unit Ltd (A Company Limited by Guarantee) is a private company, limited by guarantee , 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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Website is being amortised evenly over its estimated useful life of three years.

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

-

33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit 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 34 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

26,955

AMORTISATION

At 1 April 2024

and 31 March 2025

26,955

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

24,862

Additions

8,490

At 31 March 2025

33,352

DEPRECIATION

At 1 April 2024

12,787

Charge for year

9,905

At 31 March 2025

22,692

NET BOOK VALUE

At 31 March 2025

10,660

At 31 March 2024

12,075

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

547,386

472,393

Other debtors

192,585

273,793

739,971

746,186

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

86,897

101,397

Taxation and social security

167,801

118,032

Other creditors

266,665

382,837

521,363

602,266

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alison Sanderson FCA (Senior Statutory Auditor)

for and on behalf of Liles Morris Limited