Company Registration No. 04544998 (England and Wales)
Insight Automation Limited
Unaudited accounts
for the year ended 30 September 2024
Insight Automation Limited
Unaudited accounts
Contents
Insight Automation Limited
Company Information
for the year ended 30 September 2024
Directors
K A Lindqvist
M-A H E Lindqvist
R S Rai
Company Number
04544998 (England and Wales)
Registered Office
6 Pegasus Mews
Stratton Business Park
Biggleswade
United Kingdom
SG18 8QA
United Kingdom
Insight Automation Limited
Statement of financial position
as at 30 September 2024
Tangible assets
424,266
410,346
Inventories
1,058,007
1,203,198
Cash at bank and in hand
3,840,871
3,178,503
Creditors: amounts falling due within one year
(1,076,580)
(1,230,167)
Net current assets
5,008,011
4,094,275
Total assets less current liabilities
5,432,277
4,504,621
Creditors: amounts falling due after more than one year
(108,026)
(108,026)
Provisions for liabilities
Deferred tax
(44,250)
(41,530)
Net assets
5,280,001
4,355,065
Called up share capital
201
201
Profit and loss account
5,279,800
4,354,864
Shareholders' funds
5,280,001
4,355,065
For the year ending 30 September 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 directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by
K A Lindqvist
Director
Company Registration No. 04544998
Insight Automation Limited
Notes to the Accounts
for the year ended 30 September 2024
Insight Automation Limited is a private company, limited by shares, registered in England and Wales, registration number 04544998. The registered office is 6 Pegasus Mews, Stratton Business Park, Biggleswade, United Kingdom, SG18 8QA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
20% on cost
Fixtures & fittings
15% on reducing balance
Computer equipment
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Insight Automation Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 October 2023
218,676
79,568
256,722
193,052
106,590
854,608
Additions
-
13,130
43,820
43,180
2,615
102,745
Disposals
-
(729)
(39,203)
-
-
(39,932)
At 30 September 2024
218,676
91,969
261,339
236,232
109,205
917,421
At 1 October 2023
-
69,565
117,866
166,537
90,294
444,262
Charge for the year
-
5,420
52,268
10,454
4,728
72,870
On disposals
-
(725)
(23,252)
-
-
(23,977)
At 30 September 2024
-
74,260
146,882
176,991
95,022
493,155
At 30 September 2024
218,676
17,709
114,457
59,241
14,183
424,266
At 30 September 2023
218,676
10,003
138,856
26,515
16,296
410,346
Amounts falling due within one year
Trade debtors
1,107,485
922,385
Accrued income and prepayments
58,680
-
Other debtors
19,548
20,356
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
21,072
16,294
Trade creditors
445,556
695,706
Taxes and social security
336,399
265,827
Proposed dividends
30,150
30,150
Loans from directors
604
3,957
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
58,126
58,126
Non-equity preference shares
49,900
49,900
8
Average number of employees
During the year the average number of employees was 13 (2023: 13).