Company registration number 06992046 (England and Wales)
INSIGHT HEALTH SCREENING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
INSIGHT HEALTH SCREENING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
INSIGHT HEALTH SCREENING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INSIGHT HEALTH SCREENING LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Insight Health Screening Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Insight Health Screening Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Insight Health Screening Limited and state those matters that we have agreed to state to the board of directors of Insight Health Screening Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insight Health Screening Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Insight Health Screening Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Insight Health Screening Limited. You consider that Insight Health Screening Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Insight Health Screening Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited
8 November 2024
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
INSIGHT HEALTH SCREENING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,978
61,833
Current assets
Stocks
1,605
16,064
Debtors
4
690,856
553,290
Cash at bank and in hand
136,148
102,734
828,609
672,088
Creditors: amounts falling due within one year
5
(619,080)
(609,238)
Net current assets
209,529
62,850
Total assets less current liabilities
262,507
124,683
Creditors: amounts falling due after more than one year
6
(241,327)
(117,520)
Net assets
21,180
7,163
Capital and reserves
Called up share capital
9
103
103
Profit and loss reserves
21,077
7,060
Total equity
21,180
7,163

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

INSIGHT HEALTH SCREENING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
Mrs E Terry
Director
Company registration number 06992046 (England and Wales)
INSIGHT HEALTH SCREENING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Insight Health Screening Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 24 Llan Coed House, Llandarcy, Neath, SA10 6FG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

1.3
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

INSIGHT HEALTH SCREENING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8

Factored debts

The company factors its trade debtors via an invoice discounting facility. The debtors are included gross within trade debtors and any liability due to the invoice discounter is shown separately within current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
52
44
INSIGHT HEALTH SCREENING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
89,551
16,035
47,928
153,514
Additions
-
0
698
7,656
8,354
At 31 December 2023
89,551
16,733
55,584
161,868
Depreciation and impairment
At 1 January 2023
77,489
2,861
11,327
91,677
Depreciation charged in the year
3,687
2,902
10,624
17,213
At 31 December 2023
81,176
5,763
21,951
108,890
Carrying amount
At 31 December 2023
8,375
10,970
33,633
52,978
At 31 December 2022
12,059
13,174
36,600
61,833
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
420,366
260,498
Other debtors
241,033
186,025
Prepayments and accrued income
29,457
106,767
690,856
553,290
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
7
94,665
108,064
Sales finance
152,328
113,859
Trade creditors
75,689
103,682
Corporation tax
88,718
90,177
Other taxation and social security
123,787
124,111
Other creditors
46,952
50,153
Accruals and deferred income
36,941
19,192
619,080
609,238
INSIGHT HEALTH SCREENING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
241,327
117,520
7
Loans and overdrafts
2023
2022
£
£
Bank loans
335,992
225,584
Payable within one year
94,665
108,064
Payable after one year
241,327
117,520
8
Secured debts

The following secured debts are included within creditors:

 

Bank loans £296,787 (2022: £163,224)

 

Sales finance £nil (2022: £113,859)

 

Bibby account £152,328 (2022: £nil)

 

These liabilities are secured by way of a fixed and floating charge over the assets of the company.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
Ordinary C of £1 each
1
1
1
1
103
103
103
103
10
Related Party Discosures

The total owed to the company by related companies at 31 December 2023 was £70,834 (2022: £58,557) owed to related companies).

 

The companies are related by virtue of a common control.

 

The balances are interest free.

INSIGHT HEALTH SCREENING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
11
Ulimate Controlling Party

There is no ultimate controlling party.

12
Directors advances, credits and guarantees

Included in other debtors are amounts owed from the directors totalling £136,508.

 

Interest has been charged on the loans at a rate of 2% up until 31 March 2023 and 2.25% from 1 April 2023 to 31 December 2023.

 

13
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
262,688
262,688
14
Directors' transactions

Dividends totalling £192,600 (2022 - £184,200) were paid in the year in respect of shares held by the company's directors.

15
Contingent liability

At the year end the company was in dispute with HMRC regarding some potential historical tax liabilities. These negations are still ongoing and to date cannot be quantified and have therefore not been provided for in these accounts. 

 

 

 

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