1 October 2023 v2024.67.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP059512252023-10-012024-09-30059512252024-09-30059512252023-09-3005951225core:WithinOneYear2024-09-3005951225core:WithinOneYear2023-09-3005951225core:ShareCapital2024-09-3005951225core:ShareCapital2023-09-3005951225core:RetainedEarningsAccumulatedLosses2024-09-3005951225core:RetainedEarningsAccumulatedLosses2023-09-3005951225bus:Director12023-10-012024-09-3005951225bus:RegisteredOffice2023-10-012024-09-3005951225core:OfficeEquipment2023-10-012024-09-30059512252022-10-012023-09-3005951225core:PlantMachinery2023-10-0105951225core:PlantMachinery2023-10-012024-09-3005951225core:PlantMachinery2024-09-3005951225core:PlantMachinery2023-09-300595122512023-10-012024-09-3005951225countries:EnglandWales2023-10-012024-09-3005951225bus:AuditExempt-NoAccountantsReport2023-10-012024-09-3005951225bus:PrivateLimitedCompanyLtd2023-10-012024-09-3005951225bus:SmallEntities2023-10-012024-09-3005951225bus:FullAccounts2023-10-012024-09-30
Company registration number:
05951225
Insight Solutions Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2024
Insight Solutions Limited
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
75
 
417
 
Current assets    
Debtors 6
975
 
1,155
 
Cash at bank and in hand
21,699
 
13,446
 
22,674
 
14,601
 
Creditors: amounts falling due within one year 7
(22,636
)
(14,907
)
Net current assets/(liabilities)
38
 
(306
)
Total assets less current liabilities 113   111  
Capital and reserves    
Called up share capital
20
 
20
 
Profit and loss account
93
 
91
 
Shareholders funds
113
 
111
 
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.
Directors' responsibilities:
  • 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;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
8 January 2025
, and are signed on behalf of the board by:
Julie Pocock
Director
Company registration number:
05951225
Insight Solutions Limited
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Knaresborough Technology Park
,
Manse Lane
,
Knaresborough
,
North Yorkshire
,
HG5 8LF
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Revenue from the sale of services is recognised when the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% straight line

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 October 2023
6,464
 
Disposals
(2,762
)
At
30 September 2024
3,702
 
Depreciation  
At
1 October 2023
6,047
 
Charge
342
 
Disposals
(2,762
)
At
30 September 2024
3,627
 
Carrying amount  
At
30 September 2024
75
 
At 30 September 2023
417
 

6 Debtors

20242023
££
Trade debtors
505
 
665
 
Other debtors
470
 
490
 
975
 
1,155
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
4
 
5
 
Taxation and social security
6,102
 
3,991
 
Other creditors
16,530
 
10,911
 
22,636
 
14,907