INNAVISIONS_LIMITED - Accounts


Company Registration No. 03738956 (England and Wales)
INNAVISIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
INNAVISIONS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
INNAVISIONS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INNAVISIONS LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Innavisions Limited for the year ended 31 March 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Innavisions Limited, as a body, in accordance with the terms of our engagement letter dated 1 August 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Innavisions Limited and state those matters that we have agreed to state to the Board of Directors of Innavisions Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Innavisions Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Innavisions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Innavisions Limited. You consider that Innavisions 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 financial statements of Innavisions 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 financial statements.
Clear & Lane Limited
Chartered Accountants
340 Melton Road
Leicester
LE4 7SL
16 August 2016
INNAVISIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
43,777
12,120
Current assets
Debtors
204,020
405,025
Cash at bank and in hand
321,808
372,671
525,828
777,696
Creditors: amounts falling due within one year
(146,916)
(110,255)
Net current assets
378,912
667,441
Total assets less current liabilities
422,689
679,561
Capital and reserves
Called up share capital
3
130,000
130,000
Profit and loss account
292,689
549,561
Shareholders'  funds
422,689
679,561
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 August 2016
Mr P J H Bagnall
Mr N I Wild
Director
Director
Company Registration No. 03738956
INNAVISIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover

Turnover represents amounts receivable for goods, royalties and commission.

1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33.3% straight line
Fixtures, fittings & equipment
33.3% straight line
Motor vehicles
25% straight line
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
19,428
Additions
50,825
At 31 March 2016
70,253
Depreciation
At 1 April 2015
7,308
Charge for the year
19,168
At 31 March 2016
26,476
Net book value
At 31 March 2016
43,777
At 31 March 2015
12,120
INNAVISIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
130,000 Ordinary shares of £1 each
130,000
130,000
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