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REGISTERED NUMBER: 05683831 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Incredible Events Ltd

Incredible Events Ltd (Registered number: 05683831)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Incredible Events Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: P J Dermott
Mrs E C Dermott



REGISTERED OFFICE: 1B Tommy Taylors Lane
Cheltenham
Gloucestershire
GL50 4NR



REGISTERED NUMBER: 05683831 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: HSBC Plc
2 The Promenade
Cheltenham
Gloucestershire
GL50 1LS

Incredible Events Ltd (Registered number: 05683831)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 73,780 27,137
73,780 27,137

CURRENT ASSETS
Stocks 8,600 25,146
Debtors 6 11,681 12,099
Investments 7 113,975 71,014
Cash at bank 184,992 287,119
319,248 395,378
CREDITORS
Amounts falling due within one year 8 37,701 70,251
NET CURRENT ASSETS 281,547 325,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,327

352,264

PROVISIONS FOR LIABILITIES 20,760 7,205
NET ASSETS 334,567 345,059

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 7,371 1,264
Retained earnings 327,096 343,695
SHAREHOLDERS' FUNDS 334,567 345,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Incredible Events Ltd (Registered number: 05683831)

Statement of Financial Position - continued
31 July 2024


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 2 December 2024 and were signed on its behalf by:





P J Dermott - Director


Incredible Events Ltd (Registered number: 05683831)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Incredible Events Ltd 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.

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 are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Motor vehicles - 25% on cost
Computer & website equipmt - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Current asset investments are initially measured at cost. After initial recognition, investments are
measured at fair value, with reference to quoted stock exchange prices on 31 July.

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 statement of financial position date.


Incredible Events Ltd (Registered number: 05683831)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


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

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 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 August 2023
and 31 July 2024 250
Amortisation
At 1 August 2023
and 31 July 2024 250
Net book value
At 31 July 2024 -
At 31 July 2023 -

Incredible Events Ltd (Registered number: 05683831)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. TANGIBLE FIXED ASSETS
Computer
Plant and Motor & website
machinery vehicles equipmt Totals
£    £    £    £   
Cost
At 1 August 2023 101,797 58,716 9,720 170,233
Additions 811 55,590 1,262 57,663
Disposals (2,429 ) - - (2,429 )
At 31 July 2024 100,179 114,306 10,982 225,467
Depreciation
At 1 August 2023 88,993 47,541 6,562 143,096
Charge for year 4,453 4,989 1,458 10,900
Eliminated on disposal (2,309 ) - - (2,309 )
At 31 July 2024 91,137 52,530 8,020 151,687
Net book value
At 31 July 2024 9,042 61,776 2,962 73,780
At 31 July 2023 12,804 11,175 3,158 27,137

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 1,357 1,706
Other debtors 10,324 10,393
11,681 12,099

7. CURRENT ASSET INVESTMENTS
31/7/24 31/7/23
£    £   
Listed investments 113,975 71,014

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 407 -
Taxation and social security 13,138 41,776
Other creditors 24,156 28,475
37,701 70,251

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/24 31/7/23
£    £   
Within one year - 4,167

Incredible Events Ltd (Registered number: 05683831)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


10. RESERVES
Fair
value
reserve
£   
At 1 August 2023 1,264
Fair value gains 6,107

At 31 July 2024 7,371

11. RELATED PARTY DISCLOSURES

P J Dermott & Mrs E C Dermott
Directors

Included in Other Creditors at 31 July 2024 is £5,890 (2023 - £4,460) due to the above directors. The loan is interest free and has no fixed repayment terms.

Blue & Blue Ltd
A Company controlled by the director P Dermott.

Included in Other Creditors at 31 July 2024 is £10,000 (2023 - £0) due to the above Company. The loan is interest free and has no fixed repayment terms.