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COMPANY REGISTRATION NUMBER: 13513005
Deeper Insights Solutions Ltd (Formerly Deeper Insights AI Limited)
Filleted Unaudited Financial Statements
31 December 2023
Deeper Insights Solutions Ltd (Formerly Deeper Insights AI Limited)
Financial Statements
Period from 1 August 2022 to 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Deeper Insights Solutions Ltd (Formerly Deeper Insights AI Limited)
Statement of Financial Position
31 December 2023
31 Dec 23
31 Jul 22
Note
£
£
Current assets
Debtors
5
17,794
19,501
Cash at bank and in hand
1,842
--------
--------
17,794
21,343
Creditors: amounts falling due within one year
6
1,000
5,201
--------
--------
Net current assets
16,794
16,142
--------
--------
Total assets less current liabilities
16,794
16,142
--------
--------
Net assets
16,794
16,142
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
16,793
16,141
--------
--------
Shareholders funds
16,794
16,142
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Mr J A Hampson
Director
Company registration number: 13513005
Deeper Insights Solutions Ltd (Formerly Deeper Insights AI Limited)
Notes to the Financial Statements
Period from 1 August 2022 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year, excluding the directors, amounted to nil.
5. Debtors
31 Dec 23
31 Jul 22
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
17,671
19,501
Other debtors
123
--------
--------
17,794
19,501
--------
--------
6. Creditors: amounts falling due within one year
31 Dec 23
31 Jul 22
£
£
Trade creditors
( 1)
Corporation tax
3,552
Other creditors
1,000
1,650
-------
-------
1,000
5,201
-------
-------
7. Related party transactions
At the year end the company was owed £17,671 (2022: £19,501) by the parent company.
8. Controlling party
The ultimate parent company is Deeper Insights AI Ltd (Formerly Skim IT Limited), a company registered in England & Wales. The registered address of the ultimate controlling party is: Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN .