Inneo Limited - Period Ending 2015-02-28

Registration number: 05564346

Inneo Limited

trading as Inneo Ltd

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2015
 

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

Inneo Limited
trading as Inneo Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Inneo Limited
trading as Inneo Ltd
for the Year Ended 28 February 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Inneo Limited for the year ended 28 February 2015 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Inneo 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 Inneo Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inneo Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Inneo 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 Inneo Limited. You consider that Inneo 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 Inneo 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.

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

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

2 November 2015

Page 1

Inneo Limited
trading as Inneo Ltd
(Registration number: 05564346)
Abbreviated Balance Sheet at 28 February 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1			5
Current assets
Stocks					15,558			-
Debtors					83,551			20,796
Cash at bank and in hand					40,953			42,310
					140,062			63,106
Creditors: Amounts falling due within one year					(106,579)			(57,446)
Net current assets					33,483			5,660
Net assets					33,484			5,665
Capital and reserves
Called up share capital		3			120			120
Profit and loss account					33,364			5,545
Shareholders' funds					33,484			5,665

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 2 November 2015 and signed on its behalf by:

.........................................
Mr Quiller Hawkins
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Inneo Limited
trading as Inneo Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life as follows:-

Asset class	Depreciation method and rate
Office equipment	Straight line over 3 years

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Inneo Limited
trading as Inneo Ltd
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2014		2,164			2,164
At 28 February 2015		2,164			2,164
Depreciation
At 1 March 2014		2,159			2,159
Charge for the year		4			4
At 28 February 2015		2,163			2,163
Net book value
At 28 February 2015		1			1
At 28 February 2014		5			5

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary voting shares of £1 each		120			120			120			120

Page 4