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REGISTERED NUMBER: 08640857 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

INSOLVE PLUS LTD

INSOLVE PLUS LTD (REGISTERED NUMBER: 08640857)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSOLVE PLUS LTD

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTORS: A H Hyams
L Hinton





SECRETARY:





REGISTERED OFFICE: Allan House
10 John Princes Street
LONDON
W1G 0AH





REGISTERED NUMBER: 08640857 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

INSOLVE PLUS LTD (REGISTERED NUMBER: 08640857)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 206,000 226,600
Tangible assets 5 11,818 15,443
217,818 242,043

CURRENT ASSETS
Stocks 273,550 287,196
Debtors 6 103,408 62,124
Cash at bank 827,607 36,701
1,204,565 386,021
CREDITORS
Amounts falling due within one year 7 1,094,787 230,883
NET CURRENT ASSETS 109,778 155,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,596

397,181

CREDITORS
Amounts falling due after more than one
year

8

236,840

303,482
NET ASSETS 90,756 93,699

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 90,656 93,599
SHAREHOLDERS' FUNDS 90,756 93,699

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

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

INSOLVE PLUS LTD (REGISTERED NUMBER: 08640857)

BALANCE SHEET - continued
31 August 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 30 May 2024 and were signed on its behalf by:





A H Hyams - Director


INSOLVE PLUS LTD (REGISTERED NUMBER: 08640857)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Insolve Plus 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.

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 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery etc - 25% reducing balance

Work in progress classified as stock
The work in progress represents expected future realisation of unbilled work.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 412,000
AMORTISATION
At 1 September 2022 185,400
Charge for year 20,600
At 31 August 2023 206,000
NET BOOK VALUE
At 31 August 2023 206,000
At 31 August 2022 226,600

INSOLVE PLUS LTD (REGISTERED NUMBER: 08640857)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 79,497
Additions 313
At 31 August 2023 79,810
DEPRECIATION
At 1 September 2022 64,054
Charge for year 3,938
At 31 August 2023 67,992
NET BOOK VALUE
At 31 August 2023 11,818
At 31 August 2022 15,443

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 103,408 62,124

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 889,300 51,685
Taxation and social security 199,360 172,571
Other creditors 6,127 6,627
1,094,787 230,883

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Other creditors 236,840 303,482

9. RELATED PARTY DISCLOSURES

Dividends


Cruor Vult Limited is a 70% shareholder of Insolve Plus Limited. Lloyd Hinton is a director of Insolve Plus Limited and a 75% shareholder of Cruor Vult Limited. Dividends of £294,000 ( £325,000 in 2022) were declared to Cruor Vult Limited in the year..

Dividends of £126,000 were paid to the director A Hyams during the year (£195,000 in 2022).