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Company Registration No. 11365139 (England and Wales)
INCI EXPRESS LTD Unaudited accounts for the year ended 31 May 2023
INCI EXPRESS LTD Unaudited accounts Contents
Page
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INCI EXPRESS LTD Company Information for the year ended 31 May 2023
Director
Mr E Genc
Company Number
11365139 (England and Wales)
Registered Office
100 King Edwards Road Edmonton London N9 7RP England
Accountants
DNG Associates 214 Baker Street Enfield London EN1 3JT
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INCI EXPRESS LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,879 
17,134 
Current assets
Inventories
36,291 
6,081 
Debtors
28,000 
45,989 
Cash at bank and in hand
23,161 
2,420 
87,452 
54,490 
Creditors: amounts falling due within one year
(27,350)
(16,383)
Net current assets
60,102 
38,107 
Total assets less current liabilities
75,981 
55,241 
Creditors: amounts falling due after more than one year
(4,723)
(6,523)
Net assets
71,258 
48,718 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
71,158 
48,618 
Shareholders' funds
71,258 
48,718 
For the year ending 31 May 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 July 2023 and were signed on its behalf by
Mr E Genc Director Company Registration No. 11365139
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INCI EXPRESS LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
INCI EXPRESS LTD is a private company, limited by shares, registered in England and Wales, registration number 11365139. The registered office is 100 King Edwards Road, Edmonton, London, N9 7RP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% - reducing line method
Motor vehicles
6% - reducing line method
Fixtures & fittings
18% - reducing line method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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INCI EXPRESS LTD Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
1,200 
17,250 
1,107 
19,557 
At 31 May 2023
1,200 
17,250 
1,107 
19,557 
Depreciation
At 1 June 2022
216 
2,008 
199 
2,423 
Charge for the year
177 
915 
163 
1,255 
At 31 May 2023
393 
2,923 
362 
3,678 
Net book value
At 31 May 2023
807 
14,327 
745 
15,879 
At 31 May 2022
984 
15,242 
908 
17,134 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
28,000 
45,989 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,800 
1,800 
VAT
565 
311 
Taxes and social security
5,938 
5,942 
Loans from directors
19,047 
8,330 
27,350 
16,383 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
4,723 
6,523 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
Included within other creditors is an amount of £19,047 (2022;£8,330) due to its directors. There are no terms as to interest or repayment in respect of this balance.
10
Average number of employees
During the year the average number of employees was 2 (2022: 3).
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