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Registered number: 10500780














INCUBATE (2016) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
INCUBATE (2016) LIMITED
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 4


 
INCUBATE (2016) LIMITED
REGISTERED NUMBER:10500780

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,080
11,334

Current assets
  

Debtors: amounts falling due within one year
 5 
73,532
73,532

Cash at bank and in hand
  
45
291

  
73,577
73,823

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(49,071)
(46,489)

Net current assets
  
 
 
24,506
 
 
27,334

Net assets
  
31,586
38,668


Capital and reserves
  

Called up share capital 
 7 
10,000
10,000

Profit and loss account
  
21,586
28,668

  
31,586
38,668


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 March 2025.



A P McGuinness
Director


The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
INCUBATE (2016) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Incubate (2016) Ltd is a private limited liability company registered in England and Wales with its registered office at Heathside, East Common, Harpenden, Herts, United Kingdom, AL5 1BJ.
The principal activity of the company during the year is that of the provision of consultancy services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

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 provided on the following basis:

Computer equipment
-
33%
straight line
Office improvements
-
over 5 years

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 the Statement of Comprehensive Income.

 
2.3

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.4

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.
 
2.5

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 2

 
INCUBATE (2016) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office improvements
Total

£
£
£



Cost


At 1 April 2023
15,634
8,666
24,300



At 31 March 2024

15,634
8,666
24,300



Depreciation


At 1 April 2023
11,089
1,877
12,966


Charge for the year on owned assets
2,521
1,733
4,254



At 31 March 2024

13,610
3,610
17,220



Net book value



At 31 March 2024
2,024
5,056
7,080



At 31 March 2023
4,545
6,789
11,334


5.


Debtors

2024
2023
£
£


Other debtors
60,000
60,000

Called up share capital not paid
10,000
10,000

Tax recoverable
3,532
3,532

73,532
73,532

Page 3

 
INCUBATE (2016) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
46,271
44,399

Accruals and deferred income
2,800
2,090

49,071
46,489



7.


Share capital

2024
2023
£
£
Allotted, called up and unpaid



10,000 Ordinary shares of £1 each
10,000
10,000


 
Page 4