INC. Design Limited - Filleted accounts

Registered number

02862845

INC. Design Limited

Unaudited Filleted Accounts

31 October 2025

INC. Design Limited
Registered number:		02862845
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		279,219			293,093

Current assets
Stocks		36,488			20,751
Debtors	4	521,226			582,098
Cash at bank and in hand		1			1
		557,715			602,850

Creditors: amounts falling due within one year	5	(430,302)			(515,000)

Net current assets			127,413			87,850

Total assets less current liabilities			406,632			380,943

Creditors: amounts falling due after more than one year	6		(38,937)			(77,149)

Provisions for liabilities			(19,354)			(18,161)


Net assets			348,341			285,633

Capital and reserves
Called up share capital			1,000			1,000
Revaluation reserve			17,721			17,441
Fair value reserve			5,165			5,165
Profit and loss account			324,455			262,027

Shareholders' funds			348,341			285,633

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mr R A Howarth
Director
Approved by the board on 26 August 2026

INC. Design Limited
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	The financial statements are prepared in sterling which is the functional currency of the company.
	Monetary amounts in these financial statements are rounded to the nearest £.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses or at revalued amount. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or revalued amount, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office			over 45 years
	Computer equipment			over 3 years
	Plant and machinery			25% reducing balance
	Fixtures, fittings, and office equipment			25% reducing balance
	Motor vehicles			25% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Investment properties
	The investment property has been measured at fair value which is the open market value of the
	property The fair value adjustment has been taken through the profit and loss account.
	Fair value is determined by the directors by reference to a report procured from an independent
	qualified valuer.







	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.



	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					7		5


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 November 2024	125,000		244,451		103,685		473,136
	Additions	-		-		35,823		35,823
	Disposals	-		-		(25,650)		(25,650)
	At 31 October 2025	125,000		244,451		113,858		483,309

	Depreciation
	At 1 November 2024	-		153,008		27,035		180,043
	Charge for the year	-		3,588		24,734		28,322
	On disposals	-		-		(4,275)		(4,275)
	At 31 October 2025	-		156,596		47,494		204,090

	Net book value
	At 31 October 2025	125,000		87,855		66,364		279,219
	At 31 October 2024	125,000		91,443		76,650		293,093

	In November 2022 the company started to use part of the investment property as an owner
	occupied office. Therefore part of the investment property was relassified to property,
	plant and machinery. The part of the investment property reclassified to property, plant and
	machinery was valued at £85,000 at October 2025 by Ben Rose Estate Agents Limited who
	are independent qualified valuers. The historical cost of the part of the investment property
	reallocated in November 2022 was £66,700. As at 31 October 2025 the net book value of the
	owner occupied office under the revaluation method is £83,023 ( 2024: £85,000 ) and £62,254
	( 2024 : £63,736 ) under the historical cost method.

	The investment property has been measured at a fair value of £125,000 at October 2025 which is
	the open market value of the property. Fair value is determined by the directors by reference to
	a report procured by Ben Rose Estate Agents Limited who are independent qualified valuers.





4	Debtors					2025		2024
£							£

	Trade debtors					465,621		570,411
	Other debtors					55,605		11,687
						521,226		582,098





5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					99,433		109,375
	Obligations under finance lease and hire purchase contracts					11,754		15,890
	Trade creditors					58,478		126,540
	Taxation and social security costs					41,442		25,652
	Other creditors					219,195		237,543
						430,302		515,000


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		7,260
	Obligations under finance lease and hire purchase contracts					38,937		69,889
						38,937		77,149

	The company obtained a loan of £50,000 under the Bounce Back
	Loan Scheme on the 02 June 2020. The loan is for a period of 6
	years with repayments commencing on the 02 June 2021.
	The rate of interest payable on the loan is fixed at 2.5%.

	There is a mortgage debenture over all of the assets of the company in favour of the
	National Westminster Bank Plc which was created on the 21 March 1997.

	There is a legal charge over the investment property at 184a Eaves Lane,
	Chorley, Lancashire, PR6 OAU in favour of the National Westminster Bank Plc, which was
	created on the 27 November 2017.


7	Other information

	INC. Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
	184a Eaves Lane
	Chorley
	Lancashire
	PR6 0AU


8	Dividends

	Dividends totalling £0 (2024: £0 ) were paid in the year in respect of shares held by
	the company's directors.