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REGISTERED NUMBER: 02165763 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 August 2023

for

Incatern Limited

Incatern Limited (Registered number: 02165763)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Incatern Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M P Bastow
T P Webster



SECRETARY: M P Bastow



REGISTERED OFFICE: Rookery Farm
Walcott
Norfolk
NR12 0PF



REGISTERED NUMBER: 02165763 (England and Wales)



ACCOUNTANTS: JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA



BANKERS: Barclays Bank Plc
PO Box 88
15 Hall Quay
Great Yarmouth
Norfolk
NR30 1HW

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Incatern Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Incatern Limited for the year ended 31 August 2023 which comprise the Income Statement, Abridged Balance Sheet, Statement of Changes in Equity 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Incatern Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Incatern Limited and state those matters that we have agreed to state to the Board of Directors of Incatern Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Incatern Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Incatern 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 loss of Incatern Limited. You consider that Incatern 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 Incatern 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.






JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA


14 March 2024

Incatern Limited (Registered number: 02165763)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 579,012 606,221

CURRENT ASSETS
Stocks 27,148 28,118
Debtors 43,106 23,971
Cash at bank and in hand 149,156 181,847
219,410 233,936
CREDITORS
Amounts falling due within one year 497,633 428,061
NET CURRENT LIABILITIES (278,223 ) (194,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,789

412,096

PROVISIONS FOR LIABILITIES 32,652 35,396
NET ASSETS 268,137 376,700

CAPITAL AND RESERVES
Called up share capital 99 99
Capital redemption reserve 1 1
Retained earnings 268,037 376,600
SHAREHOLDERS' FUNDS 268,137 376,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Incatern Limited (Registered number: 02165763)

Abridged Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 14 March 2024 and were signed on its behalf by:





M P Bastow - Director


Incatern Limited (Registered number: 02165763)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Incatern 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

As at 31 August 2023 the company had net current liabilities of £278,223 (2022 : £194,125). The company has the continuing support of its parent who confirms that it will not seek repayment of its intercompany balance for a period of at least 12 months from the date of approval of these financial statements, unless the company has sufficient funds to do so after being able to meet its liabilities as they fall due. Based on this the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover 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.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost and 2% on cost

Stocks
Stocks 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 balance sheet date.


Incatern Limited (Registered number: 02165763)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 1,311,596
Additions 6,161
At 31 August 2023 1,317,757
DEPRECIATION
At 1 September 2022 705,375
Charge for year 33,370
At 31 August 2023 738,745
NET BOOK VALUE
At 31 August 2023 579,012
At 31 August 2022 606,221

Incatern Limited (Registered number: 02165763)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
M P Bastow
Balance outstanding at start of year 3,335 8,575
Amounts advanced - 3,335
Amounts repaid (3,335 ) (8,575 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,335

The directors loan balance brought forward was unsecured, interest free and was repaid on 17 March 2023.

6. RELATED PARTY DISCLOSURES

The company received rents of £52,000 (2022: £42,000) in respect of properties rented to the parent undertaking Janith Homes Limited. The level of rental income was agreed between the companies without a formal assessment of the market rent being obtained.