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Company Registration No. 12303350 (England and Wales)
Insight Regulatory Consultancy Ltd Unaudited accounts for the year ended 31 October 2023
Insight Regulatory Consultancy Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
104,405 
110,299 
Cash at bank and in hand
7,714 
19,063 
112,119 
129,362 
Creditors: amounts falling due within one year
(137,817)
(118,119)
Net current (liabilities)/assets
(25,698)
11,243 
Total assets less current liabilities
(25,698)
11,243 
Creditors: amounts falling due after more than one year
- 
(9,501)
Net (liabilities)/assets
(25,698)
1,742 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(25,708)
1,732 
Shareholders' funds
(25,698)
1,742 
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 July 2024 and were signed on its behalf by
Andrew Whitton Director Company Registration No. 12303350
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Insight Regulatory Consultancy Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Insight Regulatory Consultancy Ltd is a private company, limited by shares, registered in England and Wales, registration number 12303350. The registered office is UNIT A, WIXFORD PARK GEORGES ELM LANE, BIDFORD-ON-AVON, ALCESTER, B50 4JS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,319 
36,940 
Accrued income and prepayments
803 
206 
Other debtors
89,283 
73,153 
104,405 
110,299 
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Insight Regulatory Consultancy Ltd Notes to the Accounts for the year ended 31 October 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
27,788 
25,077 
VAT
21,503 
18,004 
Trade creditors
12,171 
1,040 
Taxes and social security
46,399 
48,943 
Other creditors
28,871 
24,205 
Accruals
1,085 
850 
137,817 
118,119 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
9,501 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Andrew Whitton
Loan to Director
65,688 
- 
- 
65,688 
65,688 
- 
- 
65,688 
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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