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Inn-Sight (Sheffield) Limited
Registered Number:03320322
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Inn-Sight (Sheffield) Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
03320322
As at 31 March 2023
Inn-Sight (Sheffield) Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
12,480
13,867
2
12,480
13,867
Current assets
Inventories
6,000
3,050
3
Trade and other receivables
1,200
8,747
4
11,797
7,200
Trade and other payables: amounts falling due within one
year
(35,888)
(38,365)
5
(28,688)
(26,568)
Net current liabilities
Total assets less current liabilities
(14,088)
(14,821)
Trade and other payables: amounts falling due after more
than one year
(10,399)
(7,315)
6
(2,370)
(2,635)
Provisions for liabilities
(23,773)
Net liabilities
(27,855)
Capital and reserves
Called up share capital
2
2
Retained earnings
(23,775)
(27,857)
(23,773)
(27,855)
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr.M.Bullock Director
These financial statements were approved and authorised for issue by the Board on 19 January 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Inn-Sight (Sheffield) Limited
Notes to the Financial Statements
Statutory Information
Inn-Sight (Sheffield) Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03320322.
Registered address:
200 Abbeydale Road South
Sheffield
South Yorkshire
S7 2QU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
10% Reducing balance
Computer Equipment
10% Reducing balance
Motor Vehicles
10% Reducing balance
Furniture and Fittings
Inventories
Stocks of themed memorabilia, reproductions and bric a brac are valued at their purchase cost.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transcation price.
Any losses arising from impairment are recognised in the statement of comprehensive income within administrative
expenses.
Impairment
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the
individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the
assest cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds
its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.
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5
For the year ended 31 March 2023
Inn-Sight (Sheffield) Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
£
£
£
£
Cost or
valuation
At 01 April 2022
35,484
6,150
3,801
25,533
At 31 March 2023
25,533
3,801
6,150
35,484
Provision for depreciation and impairment
At 01 April 2022
21,617
4,873
3,426
13,318
Charge for year
1,387
128
37
1,222
At 31 March 2023
23,004
5,001
3,463
14,540
At 31 March 2023
Net book value
10,993
338
1,149
12,480
At 31 March 2022
12,215
375
1,277
13,867
3. Inventories
2022
2023
£
£
Stocks
3,050
6,000
Income on work in progress contracts is recognised by reference to the valuation of the time spent on each contract at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to reflect fairly the profit arising up at the year end.Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
4. Trade and other receivables
2022
2023
£
£
Trade debtors
8,747
1,200
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
3,180
3,200
Bank loans and overdraft
22,014
19,198
Trade creditors
-
(1)
Taxation and social security
5,961
2,273
Other creditors
7,210
11,218
38,365
35,888
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6
For the year ended 31 March 2023
Inn-Sight (Sheffield) Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft (secured)
7,315
10,399
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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