Innervate Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04278422 (England and Wales)

INNERVATE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr N Bindemann

Mr G F Stephens

REGISTERED OFFICE:

117 Waterloo Road

London

SE1 8UL

REGISTERED NUMBER:

04278422 (England and Wales)

ACCOUNTANTS:

P G ASSOCIATES

Accountants

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

FIXED ASSETS

Property, plant and equipment

4

1,676

2,234

CURRENT ASSETS

Inventories

5

1,450

1,250

Debtors

6

12,414

11,937

Cash at bank and in hand

5,590

11,144

19,454

24,331

CREDITORS

Amounts falling due within one year

7

8,092

11,153

NET CURRENT ASSETS

11,362

13,178

TOTAL ASSETS LESS CURRENT LIABILITIES

13,038

15,412

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,938

15,312

SHAREHOLDERS' FUNDS

13,038

15,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 21 August 2023 and were signed on its behalf by:

Dr N Bindemann - Director

1.	STATUTORY INFORMATION

Innervate 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.

Turnover

Revenue 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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Inventories 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 January 2022

and 31 December 2022

21,826

DEPRECIATION

At 1 January 2022

19,592

Charge for year

558

At 31 December 2022

20,150

NET BOOK VALUE

At 31 December 2022

1,676

At 31 December 2021

2,234

5.	INVENTORIES

31.12.22

31.12.21

£

£

Stocks

1,450

1,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

8,794

8,317

Other debtors

3,620

3,620

12,414

11,937

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

-

(1

)

Tax

-

1,586

Social security and other taxes

287

74

VAT

515

733

Other creditors

113

644

Directors' current accounts

3,490

4,672

Accrued expenses

3,687

3,445

8,092

11,153

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £3,490 to the director (2021- £4,672). This amount is repayable on demand and is included in Creditors due within one year.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr N Bindemann.