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Registered number: 07218665
Owens Insight Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
N L Owens
Accountant
8 Hurst Road
Hassocks
West Sussex
BN6 9NJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07218665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,265 679
Investments 5 25,543 47,281
64,808 47,960
CURRENT ASSETS
Debtors - 1,260
Cash at bank and in hand 2,255 2,369
2,255 3,629
Creditors: Amounts Falling Due Within One Year 6 (925 ) (700 )
NET CURRENT ASSETS (LIABILITIES) 1,330 2,929
TOTAL ASSETS LESS CURRENT LIABILITIES 66,138 50,889
NET ASSETS 66,138 50,889
CAPITAL AND RESERVES
Called up share capital 7 366 366
Profit and Loss Account 65,772 50,523
SHAREHOLDERS' FUNDS 66,138 50,889
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 29 October 2024 and were signed on its behalf by:
Mr Nicholas Owens
Director
29 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Owens Insight Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07218665 . The registered office is 8 Hurst Road, Hassocks, West Sussex, BN6 9NJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise investments in quoted shares on recognised stock exhanges. These include investments in funds and unit trusts, which in turn may include investments in gilt edged government bonds and corporate bonds. 
These investments are not amortised since, taken as a whole, the carrying value in the accounts, at cost, is less than the net realisable value of these assets.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 6 years
Fixtures & Fittings 4 years
Computer Equipment 4 years
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Housing retrofit 1 1
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 - 428 5,995 6,423
Additions 41,095 - - 41,095
As at 31 July 2024 41,095 428 5,995 47,518
Depreciation
As at 1 August 2023 - 428 5,316 5,744
Provided during the period 2,283 - 226 2,509
As at 31 July 2024 2,283 428 5,542 8,253
Net Book Value
As at 31 July 2024 38,812 - 453 39,265
As at 1 August 2023 - - 679 679
5. Investments
Listed
£
Cost
As at 1 August 2023 47,281
Additions 7,860
Disposals (29,598 )
As at 31 July 2024 25,543
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 25,543
As at 1 August 2023 47,281
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Investments are carried in the accounts at cost, less provisions for material diminution in value when viewed in the aggregate.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56 52
Corporation tax 724 306
VAT 138 335
Director's loan account 7 7
925 700
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 366 366
Page 5