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REGISTERED NUMBER: 08615238 (England and Wales)















INSYDIUM LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






INSYDIUM LTD (REGISTERED NUMBER: 08615238)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSYDIUM LTD

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: Mr D J O'Reilly
Mr M J Batchelor
Dr S J Pedler
Mrs K J O'Reilly





SECRETARY: Mrs K J O'Reilly





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 08615238 (England and Wales)





ACCOUNTANTS: Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,961 528,173
101,961 528,173

CURRENT ASSETS
Debtors 6 7,961 84,509
Cash at bank and in hand 156,155 104,971
164,116 189,480
CREDITORS
Amounts falling due within one year 7 (676,029 ) (318,482 )
NET CURRENT LIABILITIES (511,913 ) (129,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(409,952

)

399,171

CREDITORS
Amounts falling due after more than one
year

8

-

(107,541

)
NET (LIABILITIES)/ASSETS (409,952 ) 291,630

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (439,952 ) 261,630
SHAREHOLDERS' FUNDS (409,952 ) 291,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

BALANCE SHEET - continued
31 July 2023


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 2 April 2024 and were signed on its behalf by:




Mr D J O'Reilly - Director



Dr S J Pedler - Director


INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Insydium Ltd 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.

Business challenges stem from sector-wide shifts, with plans underway for future adjustments. The company does not have any external debt or loans. The business is at present dependent on support from the Holding Company.

Turnover
Turnover is net invoiced sales of digital software, excluding value added tax. The sale is recognised when the payment is made.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2013, has now been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 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.

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 30,000
AMORTISATION
At 1 August 2022
and 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 412,946 495,722 908,668
Additions - 51,938 51,938
Disposals (412,946 ) (56,599 ) (469,545 )
At 31 July 2023 - 491,061 491,061
DEPRECIATION
At 1 August 2022 47,788 332,707 380,495
Charge for year - 58,758 58,758
Eliminated on disposal (47,788 ) (2,365 ) (50,153 )
At 31 July 2023 - 389,100 389,100
NET BOOK VALUE
At 31 July 2023 - 101,961 101,961
At 31 July 2022 365,158 163,015 528,173

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,961 84,509

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 27,116
Amounts owed to group undertakings 360,842 -
Taxation and social security 102,686 126,128
Other creditors 212,501 165,238
676,029 318,482

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 107,541

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 134,657

The bank loan is secured against the property.

10. RELATED PARTY DISCLOSURES

Loans owing to Insydium Holdings Ltd of £360,842 were outstanding at the year end, a company which is the majority shareholder of Insydium Ltd. The amounts are interest free and repayable on demand.

Freehold property which had previously been held in the company was transferred to Insydium Holdings Ltd at net book value. Insydium Holdings Ltd is the majority shareholder of Insydium Ltd.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Insydium Holdings Ltd.