Innovatum Limited

Director's Report for the Year Ended 31 December 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director of the company

The director who held office during the year was as follows:

RJ Nunn

Principal activity

The principal activity of the company is the development, manufacture and operation of marine survey equipment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 September 2026
 

......................................... RJ Nunn Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Innovatum Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Innovatum Limited for the year ended 31 December 2025 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/
members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Innovatum Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Innovatum Limited and state those matters that we have agreed to state to the Board of Directors of Innovatum Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Innovatum Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Innovatum Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Innovatum Limited. You consider that Innovatum Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Innovatum Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Anthony Mills Limited
Chartered Accountant
Chiltern House Howe Lane
Cockfield
Bury St Edmunds
Suffolk
IP30 0HA

17 September 2026

Innovatum Limited

Profit and Loss Account for the Year Ended 31 December 2025

	Note	2025 £	2024 £
Turnover		2,871,560	2,435,125
Cost of sales		(847,324)	(477,471)
Gross profit		2,024,236	1,957,654
Administrative expenses		(1,631,365)	(1,128,757)
Operating profit		392,871	828,897
Other interest receivable and similar income		52,330	65,423
Profit before tax		445,201	894,320
Tax on profit		(111,313)	(225,370)
Profit for the financial year		333,888	668,950

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Innovatum Limited

(Registration number: 06438943)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	4	703,188	652,217
Investments	5	130,647	2
		833,835	652,219
Current assets
Stocks	6	247,341	234,347
Debtors	7	1,435,642	297,701
Cash at bank and in hand		1,127,673	2,172,868
		2,810,656	2,704,916
Creditors: Amounts falling due within one year	11	(197,917)	(272,739)
Net current assets		2,612,739	2,432,177
Total assets less current liabilities		3,446,574	3,084,396
Provisions for liabilities		(159,296)	(131,007)
Net assets		3,287,278	2,953,389
Capital and Reserves
Called up share capital		1,470,049	1,470,049
Capital redemption reserve		51	51
Retained Earnings		1,817,178	1,483,289
Shareholders' funds		3,287,278	2,953,389

Innovatum Limited

(Registration number: 06438943)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 17 September 2026
 

......................................... RJ Nunn Director

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:

Unit 11/12
Woodside Business Park
Thetford Road
Bury St Edmunds
IP31 1NR
United Kingdom

These financial statements were authorised for issue by the director on 17 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance and 10 years straight line
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2024 - 8).

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible Assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2025	85,251	237,864	3,394,511	3,717,626
Additions	19,075	174,005	181,058	374,138
Disposals	-	(170,079)	(25,117)	(195,196)
At 31 December 2025	104,326	241,790	3,550,452	3,896,568
Depreciation
At 1 January 2025	63,536	131,210	2,870,663	3,065,409
Charge for the year	8,213	4,460	215,757	228,430
Eliminated on disposal	-	(75,687)	(24,772)	(100,459)
At 31 December 2025	71,749	59,983	3,061,648	3,193,380
Carrying amount
At 31 December 2025	32,577	181,807	488,804	703,188
At 31 December 2024	21,715	106,654	523,848	652,217

Innovatum Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Investments

	2025  £	2024  £
Investment in subsidiary	2	2
Investments in associates	130,645	-
	130,647	2

Associates	£
Cost
Additions	130,645
Provision
Carrying amount
At 31 December 2025	130,645