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Registration number: 06412156

Inserotech Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

(filleted for filing purposes)

 

Inserotech Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Inserotech Limited

Company Information

Director

S H V Paajanen

Company secretary

Batchelor Coop Ltd

Registered office

The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Inserotech Limited

Director's Report for the Year Ended 31 December 2024

The director presents her report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

S H V Paajanen

Principal activity

The principal activity of the company is the supply of horticultural products

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 4 February 2025 and signed on its behalf by:

.........................................
S H V Paajanen
Director

 

Inserotech Limited

(Registration number: 06412156)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

2,276

Current assets

 

Debtors

5

3,516

3,409

Cash at bank and in hand

 

15,574

34,026

 

19,090

37,435

Creditors: Amounts falling due within one year

6

(5,282)

(25,171)

Net current assets

 

13,808

12,264

Total assets less current liabilities

 

13,808

14,540

Provisions for liabilities

-

(433)

Net assets

 

13,808

14,107

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

13,806

14,105

Shareholders' funds

 

13,808

14,107

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 February 2025
 

.........................................
S H V Paajanen
Director

 

Inserotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the director on 4 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Inserotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Office equipment

15% reducing balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Inserotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

5,204

1,237

6,441

Disposals

(5,204)

(1,237)

(6,441)

At 31 December 2024

-

-

-

Depreciation

At 1 January 2024

3,109

1,056

4,165

Eliminated on disposal

(3,109)

(1,056)

(4,165)

At 31 December 2024

-

-

-

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

2,095

181

2,276

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,356

3,356

Prepayments

110

53

Other debtors

50

-

 

3,516

3,409

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

3,320

22,555

Other related parties

700

580

Taxation and social security

 

-

824

Other creditors

 

1,262

1,212

 

5,282

25,171

 

Inserotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2