2023-04-012024-03-312024-03-31false07876100INSIGHT IT CONSULTANCY 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INSIGHT IT CONSULTANCY LIMITED

Registered Number
07876100
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

INSIGHT IT CONSULTANCY LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

KATHARE, Gajanan
KATHARE, Minal

Registered Address

117 Holly Bush Lane
Hampton
TW12 2QY

Registered Number

07876100 (England and Wales)
INSIGHT IT CONSULTANCY LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,0732,580
2,0732,580
Current assets
Debtors5,21634,294
Cash at bank and on hand860,950785,174
866,166819,468
Creditors amounts falling due within one year(61,454)(69,414)
Net current assets (liabilities)804,712750,054
Total assets less current liabilities806,785752,634
Net assets806,785752,634
Capital and reserves
Called up share capital100100
Profit and loss account806,685752,534
Shareholders' funds806,785752,634
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
KATHARE, Gajanan
Director
Registered Company No. 07876100
INSIGHT IT CONSULTANCY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 238,334
Additions800
At 31 March 249,134
Depreciation and impairment
At 01 April 235,754
Charge for year1,307
At 31 March 247,061
Net book value
At 31 March 242,073
At 31 March 232,580