06444818falseSchool Furniture Retail2022-02-012023-01-31http://www.companieshouse.gov.uk/2022-01-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-01-31http://www.companieshouse.gov.uk/cd:Director12022-02-012023-01-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-01-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-01-31http://www.companieshouse.gov.uk/cd:Director22022-02-012023-01-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2022-01-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-01-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-01-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-01-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-02-012023-01-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-01-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-02-012023-01-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-02-012023-01-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-01-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-01-31http://www.companieshouse.gov.uk/2022-02-012023-01-31http://www.companieshouse.gov.uk/2022-01-31http://www.companieshouse.gov.uk/cd:FRS1022022-02-012023-01-31http://www.companieshouse.gov.uk/2023-01-31http://www.companieshouse.gov.uk/cd:FullAccounts2022-02-012023-01-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-02-012023-01-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 06444818

Incube Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2023

Prepared By:
PJK Accounting Ltd
Accountancy
26
Ferry Farm drive
Stafford
Staffordshire
ST17 4je

Incube Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2023
DIRECTORS
S Brown
E Brown
REGISTERED OFFICE
Units 8 And 9 New Road Industrial Estate
Hixon
Stafford
ST18 0PJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06444818
ACCOUNTANTS
PJK Accounting Ltd
Accountancy
26
Ferry Farm drive
Stafford
Staffordshire
ST17 4je

Incube Limited

ACCOUNTS
FOR THEYEARENDED31/01/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Incube Limited

BALANCE SHEET AT 31/01/2023
20232022
Notes££
FIXED ASSETS
Tangible assets2377,702329,076
CURRENT ASSETS
Stock108,165127,741
Debtors4148,108181,069
Cash at bank and in hand345,902209,229
602,175518,039
CREDITORS: Amounts falling due within one year5249,622196,185
NET CURRENT ASSETS352,553321,854
TOTAL ASSETS LESS CURRENT LIABILITIES730,255650,930
PROVISIONS FOR LIABILITIES AND CHARGES771,76362,525
NET ASSETS658,492588,405
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account658,392588,305
SHAREHOLDERS' FUNDS658,492588,405
For the year ending 31/01/2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 17/10/2023 and signed on their behalf by
.............................
S Brown
Director

Incube Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/01/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Basis Of Accounting FRS 1021 a
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
These financial statements for the year ended 31 January 2019 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 01 February 2017
1f.

Incube Limited

2. TANGIBLE FIXED ASSETS
CommercialFixtures
Vehiclesand FittingsEquipmentTotal
££££
Cost
At 01/02/2022180,50254,647873,0181,108,167
Additions-1,127209,779210,906
Disposals(12,870)-(47,950)(60,820)
At 31/01/2023167,63255,7741,034,8471,258,253
Depreciation
At 01/02/202298,56241,731638,797779,090
Disposals(10,580)-(11,988)(22,568)
For the year19,9142,106102,009124,029
At 31/01/2023107,89643,837728,818880,551
Net Book Amounts
At 31/01/202359,73611,937306,029377,702
At 31/01/202281,94012,916234,221329,077
3. STOCK 20232022
££
Stock comprises:
Stock78,64789,470
Work in progress29,51838,271
108,165127,741
4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors124,197170,530
Other debtors11,622746
Prepayments12,2899,793
148,108181,069

Incube Limited

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax19,2031,579
VAT30,49630,356
PAYE control11,77612,475
Directors current account114,325119,581
Trade creditors67,59325,774
Pension schemes2,1902,367
Accruals4,0394,053
249,622196,185
6. EMPLOYEES
20232022
No.No.
Average number of employees2727
7. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation71,76362,525
71,76362,525
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100