REGISTERED NUMBER: 08034689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

INNOVATION CENTRE FOR ENTERPRISE IN

WALES LIMITED

(A SOCIAL ENTERPRISE COMPANY)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Burt

A M Browne

L Williams

REGISTERED OFFICE:

Ty Merlin

Caerphilly Business Park

Van Road

Caerphilly

CF83 3GS

REGISTERED NUMBER:

08034689 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

FIXED ASSETS

Intangible assets

4

229,843

229,843

Tangible assets

5

10,340

2,301

240,183

232,144

CURRENT ASSETS

Debtors

6

103,140

216,664

Cash at bank and in hand

2,085

6,421

105,225

223,085

CREDITORS

Amounts falling due within one year

7

287,448

390,392

NET CURRENT LIABILITIES

(182,223

)

(167,307

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,960

64,837

CREDITORS

Amounts falling due after more than one year

8

25,631

35,769

NET ASSETS

32,329

29,068

CAPITAL AND RESERVES

Called up share capital

9

1,000,000

1,000,000

Retained earnings

(967,671

)

(970,932

)

SHAREHOLDERS' FUNDS

32,329

29,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.

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 13 January 2026 and were signed on its behalf by:

S Burt - Director

1.	STATUTORY INFORMATION

Innovation Centre For Enterprise in Wales Limited 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.

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.

Turnover

Turnover represents net invoiced sales of office space and associated services, excluding value added tax and adjusted for income received in advance.

Trademarks

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

Website costs

Website costs will be amortised evenly over their estimated useful life, starting once the development of the website has been completed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Fittings

-

10 - 33% on cost

Office Furniture

-

10 - 33% on cost

Computer Equipment

-

20% on cost

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.

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.

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.

Grants

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Website

Trademarks

costs

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

850

229,843

230,693

AMORTISATION

At 1 May 2024

and 30 April 2025

850

-

850

NET BOOK VALUE

At 30 April 2025

-

229,843

229,843

At 30 April 2024

-

229,843

229,843

5.	TANGIBLE FIXED ASSETS

Office

Office

Computer

Fittings

Furniture

Equipment

Totals

£

£

£

£

COST

At 1 May 2024

6,291

18,204

13,774

38,269

Additions

4,242

4,895

2,418

11,555

At 30 April 2025

10,533

23,099

16,192

49,824

DEPRECIATION

At 1 May 2024

4,627

18,204

13,137

35,968

Charge for year

1,365

1,088

1,063

3,516

At 30 April 2025

5,992

19,292

14,200

39,484

NET BOOK VALUE

At 30 April 2025

4,541

3,807

1,992

10,340

At 30 April 2024

1,664

-

637

2,301

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

102,266

200,563

Prepayments and other debtors

874

16,101

103,140

216,664

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

32,154

43,547

Trade creditors

60,987

119,674

Amounts owed to group undertakings

121,741

141,741

Social security and other taxes

19,669

25,813

Other creditors and accruals

14,602

17,001

Deferred income

38,295

42,616

287,448

390,392

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

10,214

20,000

Bank loans - 2-5 years

15,417

15,769

25,631

35,769

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000,000

Ordinary

£1

1,000,000

1,000,000

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

12.	GOING CONCERN