Innervate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04278422 (England and Wales)

INNERVATE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr N Bindemann

Mr S N Jolley

SECRETARY:

Dr N Bindemann

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

2,989

3,985

CURRENT ASSETS

Inventories

5

1,500

1,250

Debtors

6

14,034

13,980

Cash at bank and in hand

2,618

2,049

18,152

17,279

CREDITORS

Amounts falling due within one year

7

18,399

12,125

NET CURRENT (LIABILITIES)/ASSETS

(247

)

5,154

TOTAL ASSETS LESS CURRENT LIABILITIES

2,742

9,139

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,642

9,039

SHAREHOLDERS' FUNDS

2,742

9,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 Income Statement,

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 (2016 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 January 2017

and 31 December 2017

18,109

DEPRECIATION

At 1 January 2017

14,124

Charge for year

996

At 31 December 2017

15,120

NET BOOK VALUE

At 31 December 2017

2,989

At 31 December 2016

3,985

5.	INVENTORIES

31.12.17

31.12.16

£

£

Stocks

1,500

1,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

10,414

10,360

Other debtors

3,620

3,620

14,034

13,980

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

1

(1

)

Tax

186

88

Social security and other taxes

234

75

VAT

1,156

1,545

Other creditors

2,120

3,637

Directors' current accounts

9,061

2,308

Accrued expenses

5,641

4,473

18,399

12,125

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £9,061to the director (2016 - £2,308). 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.