Rep•rt vf Ihe Diredors and Unqudited Fin¢tnrlul Statements For the Year Ended 31 Muy 2024 for Incubation Art5 ljd
InrYbl0Th Arts Lid Conlents of th• FIrn¢la1 Slulgmenl¥ for the Year Ended 31 Moy 2024 Page Compqny InformatÈon R•port •t the Div¥rtprs Income Stut¢M&nl Bqlmnce Sheet Statement of Ch4nge$ in Equity Not•s t• Ihe Fin¢nci41 Statements cha•¥¢d A¢¢•unmIs. Report D*tuild In¢•me #nd Expenditure A¢<oun•s
Cobnparky lThfr•rmulion foi the Yeur Ended 31 May 2¢)24 DIREcfoRS- Ms J A Hamer Mr J p feasdul¢ SECRETARY: M$ J A Hvmey REGISTERED OFFICE: 12 Haldene Road Maccle5field Chtthirt SKI 1 8WE REGISTERED NUMBER: 08053266 (England Wolesl ACCOUNTANTS: Harts Mited Westmln5ter House l O WestrninsteT Road Mo¢clesfleld Ch?shlre SKIO IBX Page
Ineubthi•n Av1$ Lid R&port of Ihe Dir6d•r$ Ihe Year Ended 31 Mdy 2024 The dlrectors presert their report wlth th• flntYtKiol sr¢JtèMents of the company for the year ended 31 Moy 2024. Chority Incorporation Organls¢ti¢n Numb•1 - l 164275 PRINCIPAL ACTIVITY The prineipal ottivity of the (Dmpuny in the year under revlew wcts tho of promaiing ¢r¢otivlI y In oY the bÈneftt ot lo¢al commtsnities. DIRECTORS The direcfors shown below hav& held offitt dur5ng th¢ ¢f th p•rlod fr¢M l J¥F)è 2023 10 thtr doi• of thi$ rp•n. Ms J A Hamer Mr J P T•¥$dale This report hos been prEp¢rvd in uccordunce wlth the provlsions of Part 15 of the Companles Ad 2006 relating to smull companiE5. ON BEHALF OF THE BOARD: J-Athw( M5 J A Humer- Dir¢¢tor 28 February 2025 Page 2
InEubgtrion Arts Lld Inrome SIILlem&nl for the Yellr Ended 31 M•y 2024 31.5.24 31.5.23 Notes TURNOVER 911 672 CDSI of sul¢s GROSS SURPLUS 815 672 Administrutive expenses IA2 12.220 (7121 IIA481 Other operutlng ihCQrn 775 I00 OPERATING 5URPLUSIIDEFICITI SURPLUSIIDEFICITI BEFOFiE YAXATION 63 1481 T¢x gn surplus/ldtfi<itl sURPLUSIIDEFICl FOR THE FINANCIAL YEAR 63 1481 ThE tIK)le5 forrn pvrt of *he5¢ 5totemEhts Puge 3
Incubjlion Arts Ltd (Regislered number 080532661 Bulgn¢e Sheet 31 May 2024 31.5.24 31J.23 Note5 FIXED ASS5 IntJn¥lblc as5et5 T¥nsible a55els 56 74 56 74 CURRENT ASSETS Cash st bttnk 16,830 17,970 CREDITORS Amounts falllng dve within one yectr 120,5961 21.8171 NET CURRENT LIABIUTIES 3.766 3.84 TOTAL ASSETS LESS CURRENT LIAalUTIE5 13773 RESEKVES In¢¢me ond expenditure account 37101 3J73 Th¢ ¢•mpany is enlitled to exernptlon from oudit Under Seth¢n 477 ¢f the Componip5 Arl 20QO for the year ended 31 May 2024. The member5 h¢7ve not required the compony to tsbraln On #udit of its finon¢lal ¥t¢i¢m¢nts for the yegr efflded 31 May 2024 ttccordonce wilh Section 476 of the Compunles Act 2QQ6. ThÈ direttcrs ucknowl•dge thii r•4ponsibililies fori ensuring that the CODyany keEps arwurtling r¢ords vthith £omply with S$thon$ 380 ond 387 gf th¢ Companies Au 2006 arjd Ibl pr?poring finoncial Statements which glve o trv¢ und fuir Yiew of the stole Df offolrs of the company os at the 2nd of eoth fingnciol year and Qf 115 surplus Or deflcit ftrr finttncltsl yer IA Ott0rdte wlth th requsrements of Section5 394 and 395 and otherwise ¢omply wtth the reqvirements ol the Comp¢7lli¢5 Ad 2006 reloting to flnantiol gtateTnents. 50 far as applicr)bl¢ to th¢ compony. The linancsol sotement$ htsve Prepared in accordance with the PromOn5 applicable lo comporsigs subj8ct ta the small ¢vrnpanie5 r?gime. The tlnuncial teMentS were opprovd by th& Board of Dlr8dors ond aLth•rls•d for Isw8 t)n 28 F¢bruury 2025 and were signed ¢n 11$ beholf by- M$ J A Hamér- Direckor Th #ote5 form part ol these finonu41 #atements Pag? 4
In£ub4lion Art5 Lld Stdt•mFn• of Change5 in Equily fov th• Y•¥i ETrded 31 May 2024 Retained •¥rnin95 Total •quity Bqlqn¢e atr l Jun$ 2022 13Z251 13,7251 Chunges in e4uity Totul ¢omprehen51Ye incom 48 1481 Bo14n¢e ol 31 May 2023 13,7731 137731 Chqnge5 in equify Toal comprehÈTh5iYe income 63 63 Balan¢• ql 31 May 2024 13.7101 13,7101 The note5 lorrn port ol these fincmucl 5tulements Page 5
In¢vbution Arts Ltd Ntyt•s • the FiTh¥ncial Stolern8nts fov the Yeql Ended 31 Mdy 2024 STATUTORY INFORMATION Incubatlon Art5 Lrd 15 a prlvut¢ ¢¢mpuny Ilmitèd by guarantee, registered in Englund und Wtyles. Th# compuny's registered rnJmb¢r #nd reqi5tered oflce address b8 found ory the Company Inlormati¢n page. ACCOUNTING POLICIES Basis of pr¢p4rin¥ the sal•monts These financial st¢t¢m&rfs have been prepored in ottèrdonc2 wth FinorKifjI R¢p¢)ting Stundard 102 'Th FTtsanciul Reportino Stcndgrd upplicuble sn the UK and fteputslic o+ Irelund. Includ5ng the provtslons ol Sechon IA 'Sm¢ll Frtilies and the Compunie5 Act ?006. The finuncial st<ernents huye been prepared under the historical cosl conv2ntlon. Tvrnover Tvrnover is meosvr?d at the foiT voiwe of the consideration r•c•lYd or r•calv4yble tJt of VAT und trocle di5covnts. When the ovtcome ol a tr¢JnsQcTion can be eshrnuted reliably. turn¢Yer fTOTri 5ervi¢e5 15 recognised by rEferèDce to the stage of ¢ompl#tion al the balan¢e sheet dote. Stctge o completiDn is rnecsvred by rtfer•n¢• t• fln¢lls•rfoh of work completed. Where the out¢omo connot be Mea5ur?d r?Il¢Jbly. Ivrnover 15 recognised Dnly to the of the ?xp¢nses recugnised that are recoveruble. Intangible Inlangible assets ure inltlully me•$urtsd ot ¢03t. After initiol rec¢igDilion, ittt4n9lbl• tsrts m&¥wred ut ¢ost less atcumulat¢d gtnorti50tion and any accumulated Impulrment105se Comput2r 5oftWLTre is belng amortised evenly over its #lmot¢d us•ful lif of thr¢¢ yeor Ttyngible fixed assets DÈprec1oliL is provided gt th¢ fg11owln9 •nny41 r4ri It) ord•r to Wr off 4ss*t oYe¥ hs ¢slimated useful Irf¢. 0ffi¢¢ #4uipTnent 25ts/o on reducin9 balance Hire purchose and ledsiny ¢ommitmen15 kenta15 paid under operuting lÈa£tg urt thorged to surp105 or deficit On U 51raight Ilne bosi$ ¢veY the p¢rl¢d ¢f the lett$2. EMPLOYEÈS AND DIRECTORS The averrye number Ot employees durlng the y¢or wu$ 212023 21- OPERAYING SURPLUSIIDEFICITI The operuting surplus12023 - operuFin9 deficit) is srufed afier thurging- 31ts.24 313.23 DepreutJlion- owned usset$ 25 TAXATION Anqlysi5 of ihe tax chav9e No liobilily t¢ UK wrporolicn tax arose for the yeur ended 31 May 2024 nor for the yeor ¢nded 31 May 2023. Page 6 ¢¥ntinved...
Incubqfion Arts Lid NolEs to FinrJn¢ittl Stttt¢m¢nl•- V•nliDved f•r the Yeqr Ended 31 Muy 2024 INTANGIBLE FIXED A55ETS Computer software COST At l June 2023 Dd 31 May 2024 1,050 AMORTISATION At l June 2023 ¥nd 31 Moy 2024 NET BOOK VALUE At 31 Moy 2024 At 31 IAtsy 2023 TANGIBLE FIXED ASSETS Office equipment C05Y At l Junè 2023 and 31 2024 861 DÈPkECIATION At l Jvne 2023 Churge for yeuT 787 At 31 May 2024 805 NET BOOK VALUE At 31 Mcy 2024 56 At 31 May 2023 74 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31 J.24 31.5.23 Other creditors 20596 21,817 Pu9e 7
Charfewed Ac¢ovntants Report ID the Board of Dirpd•vs on the Unoudiled FinanEial Slalemenls of Inrubukion Art$ tsd In order TO a$515t you to fulfil ycur duties under the Companies Act 2006. we hovè pr&pured 0Trr your upprovol the finvnciol stotem&nt5 0+ Incubution Arts Ltd for the year ended 31 M¢y 202A whith comprise the Income StoternenF. Bolon¢o Sheet. Statement of Changes in EqUY ond the related note3 from the compuny s O£CtsLWting records and from inforTnation ttnd explgnotiDn5 you have glven u A5 o ProdIng member Pirm ts+ thty Ih5filvFe Cf Ac¢wnrunis In En9lond tsnd Wolès IIC4EWI, wo arè wbj•¢t to S ethical aTrd other prof10ul requirements which ore deioiled within the ICAEW'S regul1¢5 and yvidance at http://www.Ic0eW.c(Ien1emb¢r$hlP/rtr9UIil0s-slOndards-and-gUIdan. This f&port is made solely to thtr Boord of Directors of IncubotSon Art5 Ltd, as o body. in ¢wordonre with ovr erm5 of engagemenr. Ovr wyrk has been undertak&n solely to prepare for your upproval the financiol statements of Incubotion Arts Lid and state those Mutters thot we h¢ve agreed to stute to the 8tsurd of Dlrettrors of Incubotion Arts Ltd, tts a bodyi in this report in oceord¥n¥¢ With ICAEW Technlcul Rele¢se 07/1 6AAF. To th& fi18%1 extent permit&d by law, We dD not accept or assume responsibility tc gnypn¢ othr thun Incubation Arts Ltd and its Board of Dirertors, as o body. f¢r our work CT for thls rp<rt. It Is your dvty to ensure that Incubijtlon Arts Ltd h(t5 kept adequate accounting Teccrd5 and to prep¢Tre 5falUFory fin¢nool 51otement5 give o triie and fair view of the assets, Ilobllitle5, Ilnondol po51tloh Pioflt of Incubatlon Arts Ltd. You $ider that Incubatlon Arts Ltd is exempi from the statutory avdit requirement for the year. W& hove nct been Instructed to corry out an audlt or o review ot the tinanciul stoternent5 of IrKubation Arts Ltd. For thls re05gn. we huve not verified the uccurucy of campl¢ene55 Ot the oc<ovnting records QT informotion ond explonolign5 you ha¥¢ 9iv•n Io J5 ond we do not. Ihefelofe, expre55 opinion the slatulory finanrial 51aternent Horts mited Weslrniner Hou$e l O Westminster Rood Mocclesfitrld Cheshir& SKIO I&X 28 FebrOry 2025 Thi5 poge does not lorrn port of lhe Slory fin•nclo1 #•i¢mrtts P¢g 8
lTheubalion Arfs Lid Intub[ Arts Limiled Deltyiled Incorn& ¥Dd Expenditure Aceount far the Y•41 Ended 31 May 2024 31.5.24 31.5.23 Sales 119 Cost af sqle5 Artist fe¢$ paid 90 GROSS SURPLUS 23 Olher in¢om* Sundry receipts T7S 1,500 798 Expendilvr• Rent Prfnting¥ POStel9e and 5tutlonery Computer C05t5 Sundry expenses Account¢n¢y 782 609 37 52 297 302 82 716 1.523 82 1231 Depreriulion Office equiprnent 25 NET SURPLU5IIDEFICITI 63 Th1$ ptjse does not forni part of the 5t0tytory fin(Jncityl 5totrEments Page 9
Incubttiion Arts Lid Incuba+iOft Arts LiMil•d- CIO Detailed Inrome ond Expendilvve Accounl for the Year End•d 31 May 2024 31.5.24 31 ts.23 Turnover Donations 792 072 Expenditupe cro1ancY 720 600 72 72 Finance ¢od$ Fank tharges 72 72 NET SURPLU5 This puge does nr>t fomb p¢rt of ihe 5tutufory fin011 5fotement5 Pog¢lO