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REGISTERED NUMBER: SC226406 (Scotland)









INCUS CREATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


INCUS CREATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: J Arbon



SECRETARY: A Arbon



REGISTERED OFFICE: 123 Stockwell Street
Glasgow
G1 4LT



REGISTERED NUMBER: SC226406 (Scotland)



ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL



BANKERS: Bank of Scotland
Gordon Street
Glasgow
G1 3RS

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INCUS CREATIONS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Incus Creations Limited for the year ended 30th September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Incus Creations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Incus Creations Limited and state those matters that we have agreed to state to the director of Incus Creations Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Incus Creations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Incus Creations Limited. You consider that Incus Creations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Incus Creations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


25th June 2025

INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,672 2,232
Tangible assets 5 119,681 123,050
121,353 125,282

CURRENT ASSETS
Debtors 6 65,859 62,455
Cash at bank and in hand 84,077 83,466
149,936 145,921
CREDITORS
Amounts falling due within one year 7 139,154 147,772
NET CURRENT ASSETS/(LIABILITIES) 10,782 (1,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,135

123,431

CREDITORS
Amounts falling due after more than one
year

8

(67,601

)

(87,323

)

PROVISIONS FOR LIABILITIES (27,036 ) (25,545 )
NET ASSETS 37,498 10,563

CAPITAL AND RESERVES
Called up share capital 10 64,286 64,286
Share premium 25,714 25,714
Retained earnings (52,502 ) (79,437 )
SHAREHOLDERS' FUNDS 37,498 10,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

BALANCE SHEET - continued
30TH SEPTEMBER 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 director and authorised for issue on 25th June 2025 and were signed by:





J Arbon - Director


INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Incus Creations Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going Concern basis
The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future

Turnover
The turnover shown in the profit and loss account represents the sales value of printing and website work done during the year, exclusive of Value Added Tax.

Goodwill
Goodwill arising on the acquisition of businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life of 5 or 10 years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements- 10% - 20% straight line
Website costs- 25% straight line
Computer equipment- 25% - 50% straight line
Fixtures & equipment- 20% - 33% straight line
Motor vehicles- 20% straight line

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 balance sheet date.


INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 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 balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 176,402
AMORTISATION
At 1st October 2023 174,170
Amortisation for year 560
At 30th September 2024 174,730
NET BOOK VALUE
At 30th September 2024 1,672
At 30th September 2023 2,232

INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

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

5. TANGIBLE FIXED ASSETS
Improvements
to Website Fixtures
property cost & equipment
£    £    £   
COST OR VALUATION
At 1st October 2023 38,449 9,390 225,363
Additions - - 787
Disposals - - -
Revaluations - - 44,500
At 30th September 2024 38,449 9,390 270,650
DEPRECIATION
At 1st October 2023 37,660 6,065 179,937
Charge for year 789 2,348 27,201
Eliminated on disposal - - -
At 30th September 2024 38,449 8,413 207,138
NET BOOK VALUE
At 30th September 2024 - 977 63,512
At 30th September 2023 789 3,325 45,426

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1st October 2023 80,373 44,526 398,101
Additions - 575 1,362
Disposals (533 ) - (533 )
Revaluations - - 44,500
At 30th September 2024 79,840 45,101 443,430
DEPRECIATION
At 1st October 2023 13,203 38,186 275,051
Charge for year 16,073 2,820 49,231
Eliminated on disposal (533 ) - (533 )
At 30th September 2024 28,743 41,006 323,749
NET BOOK VALUE
At 30th September 2024 51,097 4,095 119,681
At 30th September 2023 67,170 6,340 123,050


INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1st October 2023
and 30th September 2024 68,082 79,840 3,132 151,054
DEPRECIATION
At 1st October 2023 42,083 12,775 1,044 55,902
Charge for year 13,100 15,968 783 29,851
At 30th September 2024 55,183 28,743 1,827 85,753
NET BOOK VALUE
At 30th September 2024 12,899 51,097 1,305 65,301
At 30th September 2023 25,999 67,065 2,088 95,152

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 51,870 51,241
Other debtors 13,989 11,214
65,859 62,455

Other debtors includes tax chargeable under s.455 CTA 2010 of £1,456 (2023: £1,456) which will be recoverable when the amounts owed by J Arbon are repaid.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 9) 5,520 7,942
Hire purchase contracts 13,985 12,246
Trade creditors 53,865 36,575
Taxation and social security 51,870 43,074
Other creditors 13,914 47,935
139,154 147,772

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 25,780 31,517
Hire purchase contracts 41,821 55,806
67,601 87,323

INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 3,700 9,437

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,520 7,942

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,520 5,520

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,560 16,560

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 3,700 9,437

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
22,500 Ordinary £1 22,500 22,500
22,500 Ordinary 'A' £1 22,500 22,500
19,286 Ordinary 'B' £1 19,286 19,286
64,286 64,286

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments all expiring later than one year and not later than ten years of £117,952 (2023: £186,724). This includes property rentals in Glasgow and Edinburgh amounting to £114,500 (2023: £172,500).

INCUS CREATIONS LIMITED (REGISTERED NUMBER: SC226406)

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

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023:

30.9.24 30.9.23
£    £   
J Arbon
Balance outstanding at start of year (4,791 ) 1,738
Amounts advanced 100,740 66,592
Amounts repaid (101,192 ) (73,121 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,243 ) (4,791 )

This amount bears no interest and has no fixed repayment terms.

13. ULTIMATE CONTROLLING PARTY

The company was under the control of J Arbon throughout the current and previous year.