REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Branch Insights Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Branch Insights Limited |
Branch Insights Limited (Registered number: 05802223) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Branch Insights Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Branch Insights Limited (Registered number: 05802223) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Branch Insights Limited (Registered number: 05802223) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Branch Insights Limited (Registered number: 05802223) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Branch Insights Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company intends to cease trading by 30 April 2025 and is therefore no longer a going concern. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Computer equipment - 25% on reducing balance |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Branch Insights Limited (Registered number: 05802223) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Directors' loan accounts | 4,251 | 2,200 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans < 1 year |
Trade creditors |
Tax |
VAT | 6,431 | 5,598 |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans 2 - 5 years |
Branch Insights Limited (Registered number: 05802223) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.5.23 |
£ | £ |
Bounce back loan | 7,516 | 10,502 |
During the year ended 31/05/21 the company received a government backed loan in light of the Covid 19 pandemic. The loan is secured by the government over a 6 year period. The loan is repayable by instalments beginning 06/12/21 (1 year after the loan was agreed). Interest is then charged at 2.5% per annum from the first repayment date. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023: |
31.5.24 | 31.5.23 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The above was interest free, unsecured and repayable on demand. |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date £4,165 (2023: £6,165) was due to Branch Insights from Calibrus Limited (the parent company) and included in debtors within 1 year. There is no interest being charged on the loan. |
12. | POST BALANCE SHEET EVENTS |
As disclosed in the accounting policies at Note 2, the company intends to cease trading by 30 April 2025 and is no longer a going concern. |