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REGISTERED NUMBER: 10228476 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Incuto Limited

Incuto Limited (Registered number: 10228476)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Incuto Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr J Neasham
A J Rabbitt





REGISTERED OFFICE: Unit 3 Holiday House
Valley Road
Ilkley
LS29 8PB





REGISTERED NUMBER: 10228476 (England and Wales)





ACCOUNTANTS: Macey Owen Limited
5, Willow Walk
Cowbridge
Vale of Glamorgan
CF71 7EE

Incuto Limited (Registered number: 10228476)

Balance Sheet
30 June 2023

30/6/23 30/6/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,785 4,951

CURRENT ASSETS
Debtors 5 558,739 693,089
Cash at bank 24,975 53,994
583,714 747,083
CREDITORS
Amounts falling due within one year 6 (1,102,055 ) (836,318 )
NET CURRENT LIABILITIES (518,341 ) (89,235 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(512,556

)

(84,284

)

CREDITORS
Amounts falling due after more than one year 7 (2,034,255 ) (1,938,653 )
NET LIABILITIES (2,546,811 ) (2,022,937 )

CAPITAL AND RESERVES
Called up share capital 1,834 1,834
Share premium 1,161,220 1,161,220
Share option reserve 95,350 95,350
Retained earnings (3,805,215 ) (3,281,341 )
SHAREHOLDERS' FUNDS (2,546,811 ) (2,022,937 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Incuto Limited (Registered number: 10228476)

Balance Sheet - continued
30 June 2023


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

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 28 March 2024 and were signed on its behalf by:





A J Rabbitt - Director


Incuto Limited (Registered number: 10228476)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Incuto 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 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.

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.

Assets under £250 written off as purchased (accelerated depreciation) but remain as fully depreciated assets on the balance sheet.

All new purchases depreciated from the date of purchase unless significantly different to usage date.

Computers / IT equipment depreciated straight line over 3 years.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Incuto Limited (Registered number: 10228476)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

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 25 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 24,104
Additions 4,903
At 30 June 2023 29,007
DEPRECIATION
At 1 July 2022 19,153
Charge for year 4,069
At 30 June 2023 23,222
NET BOOK VALUE
At 30 June 2023 5,785
At 30 June 2022 4,951

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 92,808 176,374
Other debtors 465,931 516,715
558,739 693,089

Incuto Limited (Registered number: 10228476)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 26,582 5,514
Trade creditors 286,815 240,919
Taxation and social security 172,513 157,264
Other creditors 616,145 432,621
1,102,055 836,318

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans 32,625 38,653
Other creditors 2,001,630 1,900,000
2,034,255 1,938,653

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30/6/23 30/6/22
£    £   
A J Rabbitt
Balance outstanding at start of year - 12,381
Amounts repaid - (12,381 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. POST BALANCE SHEET EVENTS

The company continues to look for further investment. The source of those funds may trigger conversion of existing loan notes into equity which will be at a discount of 25%.

10. ULTIMATE CONTROLLING PARTY

The company has no overall controlling party

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Incuto 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 Incuto Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Incuto 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 Incuto Limited and state those matters that we have agreed to state to the Board of Directors of Incuto Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Incuto 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 Incuto Limited. You consider that Incuto 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 Incuto 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.






Macey Owen Limited
5, Willow Walk
Cowbridge
Vale of Glamorgan
CF71 7EE


28 March 2024