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REGISTERED NUMBER: OC396436 (England and Wales)












INCAT CROWTHER (UK) LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INCAT CROWTHER (UK) LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DESIGNATED MEMBERS: Incat Crowther Limited
Incat Crowther Holdings Pty Limited as trustee of Incat Crowther Holdings Unit Trust
ETAJ Ltd





REGISTERED OFFICE: The Rectory
Stoneham Park
Eastleigh
Hampshire
SO50 9NW





REGISTERED NUMBER: OC396436 (England and Wales)

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,812 33,473
31,812 33,473

CURRENT ASSETS
Stocks 140,000 120,000
Debtors 6 1,252,882 1,101,789
Cash at bank 1,413,695 1,168,838
2,806,577 2,390,627
CREDITORS
Amounts falling due within one year 7 (76,021 ) (53,999 )
NET CURRENT ASSETS 2,730,556 2,336,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,762,368

2,370,101

CREDITORS
Amounts falling due after more than one
year

8

(675,000

)

-
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,087,368

2,370,101

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

2,087,368

2,370,101

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 2,087,368 2,370,101

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 14 November 2024 and were signed by:





ETAJ Ltd - Designated member

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Incat Crowther (UK) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% Reducing balance
Computer equipment - 33% Reducing balance

Work in progress
Work in progress is calculated as a proportion of the total consideration due, based on the stage of completion of each contract.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS102. A member's participation right results in a liability unless the right to any payment is discretionary to the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are shown as a residual amount available for the discretionary division amoung members of the Statement of comprehensive income and are equity appropriations in the Statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income with 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEE INFORMATION

The average number of employees during the year was 17 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Patents and
licences
£
COST
At 1 July 2023
and 30 June 2024 6,418
AMORTISATION
At 1 July 2023
and 30 June 2024 6,418
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 July 2023 11,734 49,729 61,463
Additions 8,180 3,506 11,686
At 30 June 2024 19,914 53,235 73,149
DEPRECIATION
At 1 July 2023 923 27,067 27,990
Charge for year 4,945 8,402 13,347
At 30 June 2024 5,868 35,469 41,337
NET BOOK VALUE
At 30 June 2024 14,046 17,766 31,812
At 30 June 2023 10,811 22,662 33,473

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,180,653 960,762
Other debtors 72,229 141,027
1,252,882 1,101,789

INCAT CROWTHER (UK) LLP (REGISTERED NUMBER: OC396436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 17,861 10,834
Taxation and social security 24,938 26,766
Other creditors 33,222 16,399
76,021 53,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 675,000 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 81,168 52,569
Between one and five years 324,672 324,672
In more than five years 332,789 392,853
738,629 770,094

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

At the balance sheet date, accumulated profits owed to members totalled £2,087,368 (2023 - £2,370,101).

At the balance sheet date, non-current loans totalling £675,000 (2023 - £nil), in addition to the above, were owed to members (2023 - £nil)

Loans and other debts due to members rank equally to other creditors.