IRIS Accounts Production v26.1.0.640 10267999 Board of Directors 1.10.23 31.3.25 31.3.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10267999 2023-09-30 10267999 2025-03-31 10267999 2023-10-01 2025-03-31 10267999 2022-09-30 10267999 2022-10-01 2023-09-30 10267999 2023-09-30 10267999 ns15:EnglandWales 2023-10-01 2025-03-31 10267999 ns14:PoundSterling 2023-10-01 2025-03-31 10267999 ns10:Director1 2023-10-01 2025-03-31 10267999 ns10:PrivateLimitedCompanyLtd 2023-10-01 2025-03-31 10267999 ns10:SmallEntities 2023-10-01 2025-03-31 10267999 ns10:AuditExempt-NoAccountantsReport 2023-10-01 2025-03-31 10267999 ns10:SmallCompaniesRegimeForDirectorsReport 2023-10-01 2025-03-31 10267999 ns10:SmallCompaniesRegimeForAccounts 2023-10-01 2025-03-31 10267999 ns10:FullAccounts 2023-10-01 2025-03-31 10267999 ns10:EntityHasNeverTraded 2023-10-01 2025-03-31 10267999 ns10:Director2 2023-10-01 2025-03-31 10267999 ns10:RegisteredOffice 2023-10-01 2025-03-31 10267999 ns5:CurrentFinancialInstruments 2025-03-31 10267999 ns5:CurrentFinancialInstruments 2023-09-30 10267999 ns5:Non-currentFinancialInstruments 2025-03-31 10267999 ns5:Non-currentFinancialInstruments 2023-09-30 10267999 ns5:ShareCapital 2025-03-31 10267999 ns5:ShareCapital 2023-09-30 10267999 ns5:SharePremium 2025-03-31 10267999 ns5:SharePremium 2023-09-30 10267999 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 10267999 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 10267999 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 10267999 ns5:RetainedEarningsAccumulatedLosses 2023-09-30 10267999 ns5:PlantMachinery 2023-10-01 2025-03-31 10267999 ns5:ComputerEquipment 2023-10-01 2025-03-31 10267999 ns5:PlantMachinery 2023-09-30 10267999 ns5:ComputerEquipment 2023-09-30 10267999 ns5:PlantMachinery 2025-03-31 10267999 ns5:ComputerEquipment 2025-03-31 10267999 ns5:PlantMachinery 2023-09-30 10267999 ns5:ComputerEquipment 2023-09-30 10267999 ns5:CostValuation 2023-09-30 10267999 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 10267999 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-09-30 10267999 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2025-03-31 10267999 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2023-09-30 10267999 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-03-31 10267999 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2023-09-30 10267999 ns5:WithinOneYear 2025-03-31 10267999 ns5:WithinOneYear 2023-09-30 10267999 ns10:Director1 1 2023-09-30 10267999 ns10:Director1 1 2022-09-30 10267999 ns10:Director1 1 2023-10-01 2025-03-31 10267999 ns10:Director1 1 2022-10-01 2023-09-30 10267999 ns10:Director1 1 2025-03-31 10267999 ns10:Director1 1 2023-09-30

REGISTERED NUMBER: 10267999 (England and Wales)

| Unaudited Financial Statements |

| for the Period 1 October 2023 to 31 March 2025 |

| for |

| Inovo Robotics Ltd |

Inovo Robotics Ltd (Registered number: 10267999)

Contents of the Financial Statements

for the Period 1 October 2023 to 31 March 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Inovo Robotics Ltd

Company Information

for the Period 1 October 2023 to 31 March 2025

| DIRECTORS: | J Cheung

| H J Wood

| REGISTERED OFFICE: | 1 Minster Court

| Tuscam Way

| Camberley

| Surrey

| GU15 3YY

| REGISTERED NUMBER: | 10267999 (England and Wales)

| ACCOUNTANTS: | Butt Miller

| Chartered Accountants

| 1 Minster Court

| Tuscam Way

| Camberley

| Surrey

| GU15 3YY

Inovo Robotics Ltd (Registered number: 10267999)

Statement of Financial Position

31 March 2025

| 2025 |  | 2023

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 219 |  | 827 |  |

Investments | 5 | 10,000 |  | 10,000 |  |

10,219 |  | 10,827 |  |

CURRENT ASSETS

Stocks | 6 | - |  | 8,500 |  |

Debtors | 7 | 6,603 |  | 17,112 |  |

Cash at bank and in hand | 11,212 |  | 26,841 |  |

17,815 |  | 52,453 |  |

CREDITORS

Amounts falling due within one year | 8 | (124,288 | ) | (88,170 | ) |

NET CURRENT LIABILITIES | (106,473 | ) | (35,717 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (96,254 | ) | (24,890 | ) |

CREDITORS

Amounts falling due after more than one year | 9 | (2,755 | ) | (5,750 | ) |

NET LIABILITIES | (99,009 | ) | (30,640 | ) |

CAPITAL AND RESERVES

Called up share capital | 4 |  | 4 |  |

Share premium | 11 | 3,355,408 |  | 3,005,408 |  |

Advance subscriptions | 11 | - |  | 350,000 |  |

Retained earnings | 11 | (3,454,421 | ) | (3,386,052 | ) |

SHAREHOLDERS' FUNDS | (99,009 | ) | (30,640 | ) |

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

Inovo Robotics Ltd (Registered number: 10267999)

Statement of Financial Position - continued

31 March 2025

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 1 May 2026 and were signed on its behalf by:

H J Wood - Director

Inovo Robotics Ltd (Registered number: 10267999)

Notes to the Financial Statements

for the Period 1 October 2023 to 31 March 2025

1. | STATUTORY INFORMATION

| Inovo Robotics 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.

| 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.

| Due to reorganisation the accounting period was extended to 31 March 2025. As a result, the comparative amounts presented in the financial statements (including the notes) are not entirely comparable.

| 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 | - | 25% on cost

| Computer equipment | - | 25% on cost

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at 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 period 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 statement of financial position date.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Operating leases

| Rentals paid under operating leases are charged to the Income Statement 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 the Income Statement in the period to which they relate.

Inovo Robotics Ltd (Registered number: 10267999)

Notes to the Financial Statements - continued

for the Period 1 October 2023 to 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| These financial statements have been prepared on the basis that the Company is a going concern. The Company has historically recorded losses and net operating cash outflows.

| Subject to achieving the projected sales or obtaining further funding, the Company is expected to have sufficient funds to meet its obligations during the twelve months from the date of signature of these financial statements.

| Whilst there can be no certainty that the sales are achieved or further funding obtained, the directors believe and have concluded that there is a high likelihood that one of them will occur and accordingly have prepared these financial statements on a going concern basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 1 (2023 - 7 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |  | Computer |

| machinery |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 October 2023 | 13,626 |  | 15,429 |  | 29,055 |  |

| Additions | - |  | 351 |  | 351 |  |

| Disposals | (1,171 | ) | (6,887 | ) | (8,058 | ) |

| At 31 March 2025 | 12,455 |  | 8,893 |  | 21,348 |  |

| DEPRECIATION

| At 1 October 2023 | 12,962 |  | 15,266 |  | 28,228 |  |

| Charge for period | 576 |  | 295 |  | 871 |  |

| Eliminated on disposal | (1,083 | ) | (6,887 | ) | (7,970 | ) |

| At 31 March 2025 | 12,455 |  | 8,674 |  | 21,129 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 219 |  | 219 |  |

| At 30 September 2023 | 664 |  | 163 |  | 827 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 October 2023

| and 31 March 2025 | 10,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 10,000 |  |

| At 30 September 2023 | 10,000 |  |

6. | STOCKS

2025 | 2023 |

£ | £ |

| Stocks | - |  | 8,500 |  |

Inovo Robotics Ltd (Registered number: 10267999)

Notes to the Financial Statements - continued

for the Period 1 October 2023 to 31 March 2025

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2023 |

£ | £ |

| Trade debtors | - |  | 1,602 |  |

| Other debtors | 2,060 |  | 3,899 |  |

| VAT | 3,303 |  | 3,088 |  |

| Prepayments | 1,240 |  | 8,523 |  |

6,603 |  | 17,112 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2023 |

£ | £ |

| Bank loans and overdrafts | 2,009 |  | 1,935 |  |

| Trade creditors | 121,948 |  | 80,061 |  |

| Social security and other taxes | 1 |  | 5,162 |  |

| Other creditors | 20 |  | 257 |  |

| Directors' current accounts | 29 |  | - |  |

| Accruals and deferred income | 281 |  | 755 |  |

124,288 |  | 88,170 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2023 |

£ | £ |

| Bank loans - 1-2 years | 2,060 |  | 1,984 |  |

| Bank loans - 2-5 years | 695 |  | 3,766 |  |

2,755 |  | 5,750 |  |

10. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2023 |

£ | £ |

| Within one year | 1,240 |  | 2,816 |  |

11. | RESERVES

| The company previously received £350,000 under an Advance Subscription Agreement. This was converted into 177,423 Ordinary £0.000001 shares on 20 December 2023.

12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 31 March 2025 and the year ended 30 September 2023:

2025 | 2023 |

£ | £ |

| H J Wood

| Balance outstanding at start of period | - |  | - |  |

| Amounts repaid | (29 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | (29 | ) | - |  |

Inovo Robotics Ltd (Registered number: 10267999)

Notes to the Financial Statements - continued

for the Period 1 October 2023 to 31 March 2025

12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

| Loans to the company are unsecured, interest free and repayable on demand.