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REGISTERED NUMBER: 11744908 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Insanity Productions Ltd

Insanity Productions Ltd (Registered number: 11744908)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Insanity Productions Ltd

Company Information
for the year ended 31 December 2023







DIRECTORS: D M Clark
R Sukul





REGISTERED OFFICE: 8 Edenbridge Trade Estate
Hever Road
Edenbridge
Kent
TN8 5EA





REGISTERED NUMBER: 11744908 (England and Wales)





ACCOUNTANTS: ah partnership
Chartered Accountants
Stanley House
49 Dartford Road
Sevenoaks
Kent
TN13 3TE

Insanity Productions Ltd (Registered number: 11744908)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 47,500 57,000
Tangible assets 5 672,246 695,690
719,746 752,690

CURRENT ASSETS
Debtors 6 112,840 111,270
Cash at bank 12 -
112,852 111,270
CREDITORS
Amounts falling due within one year 7 948,595 911,265
NET CURRENT LIABILITIES (835,743 ) (799,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(115,997

)

(47,305

)

CREDITORS
Amounts falling due after more than one
year

8

(348,228

)

(352,597

)

PROVISIONS FOR LIABILITIES (47,994 ) (52,422 )
NET LIABILITIES (512,219 ) (452,324 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (512,221 ) (452,326 )
(512,219 ) (452,324 )

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

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

Insanity Productions Ltd (Registered number: 11744908)

Statement of Financial Position - continued
31 December 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 19 September 2024 and were signed on its behalf by:





D M Clark - Director


Insanity Productions Ltd (Registered number: 11744908)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Insanity Productions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2019, is being amortised evenly over its estimated useful life of ten 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 each asset over its estimated useful life.
Land and buildings - not provided.
Plant and machinery etc. - 33% on cost and 12.5% on reducing balance.

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 statement of financial position date.


Insanity Productions Ltd (Registered number: 11744908)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 95,000
AMORTISATION
At 1 January 2023 38,000
Charge for year 9,500
At 31 December 2023 47,500
NET BOOK VALUE
At 31 December 2023 47,500
At 31 December 2022 57,000

Insanity Productions Ltd (Registered number: 11744908)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 417,436 448,842 866,278
Additions - 30,203 30,203
At 31 December 2023 417,436 479,045 896,481
DEPRECIATION
At 1 January 2023 - 170,588 170,588
Charge for year - 53,647 53,647
At 31 December 2023 - 224,235 224,235
NET BOOK VALUE
At 31 December 2023 417,436 254,810 672,246
At 31 December 2022 417,436 278,254 695,690

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 112,840 111,270

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,223 60,869
Hire purchase contracts 5,205 8,750
Taxation and social security 105,350 91,261
Other creditors 779,817 750,385
948,595 911,265

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 4,369
Other creditors 348,228 348,228
348,228 352,597

9. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the Board of Directors.