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REGISTERED NUMBER: 11215253 (England and Wales)












INSIGNIA SPIRITS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSIGNIA SPIRITS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: Mr R O'Donovan
Mr J O'Donovan





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 11215253 (England and Wales)





ACCOUNTANTS: Nicolson Accountancy
Trinity House
31 Lynedoch Street
Glasgow
G3 6EF

INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)

BALANCE SHEET
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 532 1,266

CURRENT ASSETS
Stocks 103,500 60,000
Debtors 5 3,880 1,627
Cash at bank 42,243 95,433
149,623 157,060
CREDITORS
Amounts falling due within one year 6 112,449 102,845
NET CURRENT ASSETS 37,174 54,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,706

55,481

CREDITORS
Amounts falling due after more than one
year

7

35,223

40,000
NET ASSETS 2,483 15,481

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 2,383 15,381
SHAREHOLDERS' FUNDS 2,483 15,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)

BALANCE SHEET - continued
31 December 2021


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 14 August 2022 and were signed on its behalf by:




Mr J O'Donovan - Director



Mr R O'Donovan - Director


INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Insignia Spirits 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2021 4,900
Additions 166
At 31 December 2021 5,066
DEPRECIATION
At 1 January 2021 3,634
Charge for year 900
At 31 December 2021 4,534
NET BOOK VALUE
At 31 December 2021 532
At 31 December 2020 1,266

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 3,099 1,627
Other debtors 781 -
3,880 1,627

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to associates 50,143 50,143
Taxation and social security 2,180 5,171
Other creditors 50,126 37,531
112,449 102,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 35,223 40,000

INSIGNIA SPIRITS LIMITED (REGISTERED NUMBER: 11215253)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

8. RESERVES
Retained
earnings
£   

At 1 January 2021 15,381
Deficit for the year (12,998 )
At 31 December 2021 2,383