INCAMESH FILTRATION LIMITED

Company Registration Number:
01353975 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

INCAMESH FILTRATION LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

INCAMESH FILTRATION LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 69,632 65,469
Total fixed assets: 69,632 65,469
Current assets
Stocks: 148,872 141,537
Debtors:   140,238 176,320
Cash at bank and in hand: 20,354 5,082
Total current assets: 309,464 322,939
Creditors: amounts falling due within one year: 4 (287,186) (281,014)
Net current assets (liabilities): 22,278 41,925
Total assets less current liabilities: 91,910 107,394
Creditors: amounts falling due after more than one year: 5   (7,272)
Provision for liabilities: (17,408) (12,439)
Total net assets (liabilities): 74,502 87,683
Capital and reserves
Called up share capital: 10,000 10,000
Profit and loss account: 64,502 77,683
Shareholders funds: 74,502 87,683

The notes form part of these financial statements

INCAMESH FILTRATION LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 October 2024
and signed on behalf of the board by:

Name: Mr R C Livings
Status: Director

The notes form part of these financial statements

INCAMESH FILTRATION LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: Plant and machinery - 15% Reducing balance Motor vehicles - 25% Reducing balance Fixtures and fittings - 15% Reducing balance Office equipment - 25% Reducing balance Website - 25% Straight line The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Other accounting policies

Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Debtors Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Creditors Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Foreign currency translation Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Finance costs Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Dividends Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Operating leases: the Company as lessee Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Pensions Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Borrowing costs All borrowing costs are recognised in profit or loss in the year in which they are incurred. Provisions for liabilities Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Current and deferred taxation The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

INCAMESH FILTRATION LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 10 12

INCAMESH FILTRATION LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible Assets

Total
Cost £
At 01 May 2023 221,028
Additions 18,382
At 30 April 2024 239,410
Depreciation
At 01 May 2023 155,559
Charge for year 14,219
At 30 April 2024 169,778
Net book value
At 30 April 2024 69,632
At 30 April 2023 65,469

INCAMESH FILTRATION LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due within one year note

Bank overdrafts - £NIL (2023 - £33,724) Bank loans - £17,906 (2023 - £25,856) Trade creditors - £186,183 (2023 - £189,049) Corporation tax - £2,961 (2023 - £2,414) Other taxation and social security - £9,534 (2023 - £9,424) Obligations under finance lease and hire purchase contracts - £9,145 (2023 - £5,428) Accruals and deferred income - £61,457 (2023 - £15,119) Totals - £287,186 (2023 - £281,014)

INCAMESH FILTRATION LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due after more than one year note

Net obligations under finance leases and hire purchase contracts - £NIL (2023 - £7,272)