0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 47,802 47,802 47,802 xbrli:pure xbrli:shares iso4217:GBP 09687262 2022-07-01 2023-06-30 09687262 2023-06-30 09687262 2022-06-30 09687262 2021-07-01 2022-06-30 09687262 2022-06-30 09687262 2021-06-30 09687262 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 09687262 bus:Director1 2022-07-01 2023-06-30 09687262 core:WithinOneYear 2023-06-30 09687262 core:WithinOneYear 2022-06-30 09687262 core:ShareCapital 2023-06-30 09687262 core:ShareCapital 2022-06-30 09687262 core:SharePremium 2023-06-30 09687262 core:SharePremium 2022-06-30 09687262 core:RetainedEarningsAccumulatedLosses 2023-06-30 09687262 core:RetainedEarningsAccumulatedLosses 2022-06-30 09687262 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 09687262 core:Non-currentFinancialInstruments 2023-06-30 09687262 core:Non-currentFinancialInstruments 2022-06-30 09687262 bus:SmallEntities 2022-07-01 2023-06-30 09687262 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09687262 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09687262 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09687262 bus:FullAccounts 2022-07-01 2023-06-30 09687262 bus:OrdinaryShareClass1 2023-06-30 09687262 bus:OrdinaryShareClass1 2022-06-30
COMPANY REGISTRATION NUMBER: 09687262
Increment Group Ltd
Filleted Unaudited Financial Statements
30 June 2023
Increment Group Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Investments
5
47,802
47,802
Current assets
Debtors
6
1,585
1,585
Creditors: amounts falling due within one year
7
17,310
116,612
--------
---------
Net current liabilities
15,725
115,027
--------
---------
Total assets less current liabilities
32,077
( 67,225)
--------
--------
Net assets/(liabilities)
32,077
( 67,225)
--------
--------
Capital and reserves
Called up share capital
8
963
963
Share premium account
4,438
4,438
Profit and loss account
26,676
( 72,626)
--------
--------
Shareholders funds/(deficit)
32,077
( 67,225)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 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 .
Increment Group Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 12 February 2024 , and are signed on behalf of the board by:
Mr A Williams
Director
Company registration number: 09687262
Increment Group Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Buckingham Court, Dairy Road, Chelmsford, Essex, CM2 6XW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the directors. The directors have indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Average number of employees
During the year the average number of employees was 2 (2022: 2), which consisted of the directors only.
5. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
47,802
--------
Impairment
At 1 July 2022 and 30 June 2023
--------
Carrying amount
At 30 June 2023
47,802
--------
At 30 June 2022
47,802
--------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,583
1,583
Other debtors
2
2
-------
-------
1,585
1,585
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
16,650
115,982
Accruals and deferred income
660
630
--------
---------
17,310
116,612
--------
---------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.10 each
9,633
963
9,633
963
-------
----
-------
----
9. Related party transactions
There is a balance owed to related parties at the year end of £16,650 (2022: £115,982), which is in respect of an intercompany loans. There was no interest charged on these loans.