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REGISTERED NUMBER: 13582373 (England and Wales)















Insight HRC Ltd

Unaudited Financial Statements for the Year Ended 31 January 2024






Insight HRC Ltd (Registered number: 13582373)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Insight HRC Ltd

Company Information
for the Year Ended 31 January 2024







Directors: J Cooper
P Gwynn
J MacLean





Registered office: 3.3 Griffin House
Tramshed Tech
High Street
NEWPORT
NP20 1FX





Registered number: 13582373 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Insight HRC Ltd (Registered number: 13582373)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 4 11,501 12,938
Tangible assets 5 2,431 3,361
13,932 16,299

Current assets
Debtors 6 44,855 38,502
Cash at bank 283,593 377,368
328,448 415,870
Creditors
Amounts falling due within one year 7 (250,219 ) (307,873 )
Net current assets 78,229 107,997
Total assets less current liabilities 92,161 124,296

Creditors
Amounts falling due after more than one year 8 (71,876 ) (95,634 )

Provisions for liabilities (608 ) (840 )
Net assets 19,677 27,822

Capital and reserves
Called up share capital 100 100
Retained earnings 19,577 27,722
19,677 27,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Insight HRC Ltd (Registered number: 13582373)

Balance Sheet - continued
31 January 2024


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 4 July 2024 and were signed on its behalf by:





P Gwynn - Director


Insight HRC Ltd (Registered number: 13582373)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Insight HRC 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.

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.

The comparative period is a longer period of accounts from the date of incorporation to the chosen year-end date of 31st January. As a result, the comparative results are not entirely comparable with the 12 months to 31 January 2024.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Insight HRC Ltd (Registered number: 13582373)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. Employees and directors

The average number of employees during the year was 5 (2023 - 4 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 February 2023
and 31 January 2024 14,376
Amortisation
At 1 February 2023 1,438
Amortisation for year 1,437
At 31 January 2024 2,875
Net book value
At 31 January 2024 11,501
At 31 January 2023 12,938

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 February 2023 13,792 4,274 18,066
Additions - 419 419
At 31 January 2024 13,792 4,693 18,485
Depreciation
At 1 February 2023 13,191 1,514 14,705
Charge for year 185 1,164 1,349
At 31 January 2024 13,376 2,678 16,054
Net book value
At 31 January 2024 416 2,015 2,431
At 31 January 2023 601 2,760 3,361

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 42,964 38,502
Prepayments and accrued income 1,891 -
44,855 38,502

Insight HRC Ltd (Registered number: 13582373)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 29,431 33,684
Other loans 1,600 1,600
Trade creditors 46,198 68,482
Tax 24,573 36,224
Social security and other taxes 4,064 1,705
VAT 19,935 15,163
Directors' loan accounts 18,400 18,400
Accruals and deferred income 106,018 132,615
250,219 307,873

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 30,951 33,684
Bank loans - 2-5 years 40,925 61,950
71,876 95,634

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 31 January 2024 and the period ended 31 January 2023:

2024 2023
£    £   
J Cooper
Balance outstanding at start of year (4,000 ) -
Amounts repaid - (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,000 ) (4,000 )

P Gwynn
Balance outstanding at start of year (8,000 ) -
Amounts repaid - (8,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,000 ) (8,000 )

J MacLean
Balance outstanding at start of year (6,400 ) -
Amounts repaid - (6,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,400 ) (6,400 )