Insight Booking Solutions Limited
Registered number: 08318231
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Current assets
Debtors 4 254,484 149,293
Cash at bank and in hand 335,522 280,725
590,006 430,018
Creditors: amounts falling due within one year 5 (286,592) (171,320)
Net current assets 303,414 258,698
Total assets less current liabilities 303,414 258,698
Creditors: amounts falling due after more than one year 6 (37,247) (75,037)
Net assets 266,167 183,661
Capital and reserves
Called up share capital 100 100
Profit and loss account 266,067 183,561
Shareholders' funds 266,167 183,661
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 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.
M Desjarlais
Director
Approved by the board on 16 September 2023
Insight Booking Solutions Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 22,658
At 31 December 2022 22,658
Depreciation
At 1 January 2022 22,658
At 31 December 2022 22,658
Net book value
At 31 December 2022 -
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Debtors 2022 2021
£ £
Trade debtors 254,484 149,293
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 20,640 -
Trade creditors 138,771 91,279
Corporation tax 67,017 58,812
Other taxes and social security costs 46,936 18,958
Other creditors 13,228 2,271
286,592 171,320
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 37,247 75,037
7 Other information
Insight Booking Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Armoury Bank
Ashton In Makerfield
Wigan
Lancs
WN4 9BN
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