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REGISTERED NUMBER: 15063338 (England and Wales)













Unaudited Financial Statements

for the period

10 August 2023 to 31 August 2024

for

Insoles Direct Limited

Insoles Direct Limited (Registered number: 15063338)






Contents of the Financial Statements
for the period 10 August 2023 to 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Insoles Direct Limited

Company Information
for the period 10 August 2023 to 31 August 2024







DIRECTORS: S N Heys
Mrs D C Heys





REGISTERED OFFICE: Old Market Hall Chapel Street
Haslingden
Rossendale
BB4 5QR





REGISTERED NUMBER: 15063338 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Insoles Direct Limited (Registered number: 15063338)

Abridged Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 18,000

CURRENT ASSETS
Stocks 6,570
Debtors 1,976
Cash at bank and in hand 2,948
11,494
CREDITORS
Amounts falling due within one year 2,954
NET CURRENT ASSETS 8,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,540

CREDITORS
Amounts falling due after more than one
year

20,000
NET ASSETS 6,540

CAPITAL AND RESERVES
Called up share capital 5 12
Retained earnings 6,528
SHAREHOLDERS' FUNDS 6,540

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

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

Insoles Direct Limited (Registered number: 15063338)

Abridged Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 October 2024 and were signed on its behalf by:





Mrs D C Heys - Director


Insoles Direct Limited (Registered number: 15063338)

Notes to the Financial Statements
for the period 10 August 2023 to 31 August 2024

1. STATUTORY INFORMATION

Insoles Direct Limited 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.

The company sells a range of footwear inserts to retailers. Sales of goods are recognised on delivery to the retailer. Delivery occurs when the goods have been shipped to the location specified by the retailer. Sales are normally made with a credit term of 7 days.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the period 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.


Insoles Direct Limited (Registered number: 15063338)

Notes to the Financial Statements - continued
for the period 10 August 2023 to 31 August 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 20,000
At 31 August 2024 20,000
AMORTISATION
Amortisation for period 2,000
At 31 August 2024 2,000
NET BOOK VALUE

At 31 August 2024 18,000

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
120 Ordinary 10p 12

120 Ordinary shares of 10p were issued during the period for cash of £ 12 .