REGISTERED NUMBER: 13532704 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Innovate Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Carrington

R F Elam

B P Sherriff

REGISTERED OFFICE:

Pomfret Business Centre

2 Harropwell Lane

Pontefract

West Yorkshire

WF8 1QY

REGISTERED NUMBER:

13532704 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Oak Tree House, Harwood Road

Northminster Business Park

Upper Poppleton

York

YO26 6QU

FIXED ASSETS

Tangible assets

4

6,419

1,951

CURRENT ASSETS

Debtors

5

346,953

174,178

Cash at bank

182,470

95,905

529,423

270,083

CREDITORS

Amounts falling due within one year

6

192,093

206,874

NET CURRENT ASSETS

337,330

63,209

TOTAL ASSETS LESS CURRENT LIABILITIES

343,749

65,160

CREDITORS

Amounts falling due after more than one year

7

(181,371

)

-

PROVISIONS FOR LIABILITIES

10

(1,602

)

(485

)

NET ASSETS

160,776

64,675

CAPITAL AND RESERVES

Called up share capital

11

200

100

Retained earnings

160,576

64,575

SHAREHOLDERS' FUNDS

160,776

64,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2026 and were signed on its behalf by:

R F Elam - Director

1.	STATUTORY INFORMATION

Innovate Associates 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.

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 as modified by the revaluation of certain assets.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised when the conditions contained within a contract for services have been met.

Tangible fixed assets

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

Computer equipment

-

30% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

2,993

Additions

6,480

At 31 March 2026

9,473

DEPRECIATION

At 1 April 2025

1,042

Charge for year

2,012

At 31 March 2026

3,054

NET BOOK VALUE

At 31 March 2026

6,419

At 31 March 2025

1,951

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

210,488

172,364

Other debtors

130,970

-

Prepayments and accrued income

5,495

1,814

346,953

174,178

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other loans

20,953

-

Trade creditors

54,832

38,749

Taxation and social security

63,546

103,278

Other creditors

17,211

-

Directors' current accounts

8,614

7,139

Accruals and deferred income

26,937

57,708

192,093

206,874

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other loans - 1-5 years

134,570

-

Other loans more 5yrs instal

46,801

-

181,371

-

2026

2025

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

46,801

-

The other loan is repayable over 6 years, at an interest rate of 18.3%. The loan is due to mature in February 2032.

8.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

31,889

-

Between one and five years

19,847

-

51,736

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Other loans

202,324

-

The other loan is secured by way of a personal guarantee by the directors.

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

1,602

485

Deferred

tax

£

Balance at 1 April 2025

485

Provided during year

1,117

Balance at 31 March 2026

1,602

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

10,000

Ordinary A & B

£0.01

100

100

10,002

Ordinary A1 & B1

£0.01

100

-

200

100

During the year, the company undertook a reclassification of its share capital.

12.	RELATED PARTY DISCLOSURES

2026

2025

£

£

Amounts owed to the directors

8,614

7,139

No interest has been charged.