INCLINE IT LIMITED

Company Registration Number:
11864190 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

INCLINE IT LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

INCLINE IT LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 5,518 1,015
Total fixed assets: 5,518 1,015
Current assets
Debtors:   1,065,905 850,177
Cash at bank and in hand: 22,990 80,522
Total current assets: 1,088,895 930,699
Creditors: amounts falling due within one year: 4 (1,072,732) (811,484)
Net current assets (liabilities): 16,163 119,215
Total assets less current liabilities: 21,681 120,230
Provision for liabilities: (1,380) (254)
Total net assets (liabilities): 20,301 119,976
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 20,201 119,876
Shareholders funds: 20,301 119,976

The notes form part of these financial statements

INCLINE IT LIMITED

Balance sheet statements

For the year ending 30 September 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 14 February 2025
and signed on behalf of the board by:

Name: Mr A J McLaughlin
Status: Director

The notes form part of these financial statements

INCLINE IT LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 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. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Fixtures and fittings - 25% Straight line basis Office equipment - 25% Straight line basis 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

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. 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. 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. 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.

INCLINE IT LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 19 18

INCLINE IT LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 10,225
Additions 6,421
At 30 September 2024 16,646
Depreciation
At 01 October 2023 9,210
Charge for year 1,918
At 30 September 2024 11,128
Net book value
At 30 September 2024 5,518
At 30 September 2023 1,015

INCLINE IT LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Creditors: amounts falling due within one year note

Trade creditors - £95,100 (2023 - £90,142) Amounts owed to group undertakings - £274,798 (2023 - £481,000) Other taxation and social security - £152,206 (2023 - £31,870) Other creditors - £12,766 (2023 - £8,249) Accruals and deferred income - £537,862 (2023 - £200,223) Total - £1,072,732 (2023 - £811,484)