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INSIGHTT LIMITED

Registered Number
NI647424
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 August 2024

INSIGHTT LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

NESBITT, Robin

Registered Address

27 Linen Green
Lisburn
BT28 3NZ

Registered Number

NI647424 (Northern Ireland)
INSIGHTT LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets422371
22371
Current assets
Debtors355150
Cash at bank and on hand7,39718,274
7,75218,424
Creditors amounts falling due within one year5(3,391)(10,533)
Net current assets (liabilities)4,3617,891
Total assets less current liabilities4,3838,262
Net assets4,3838,262
Capital and reserves
Called up share capital100100
Profit and loss account4,2838,162
Shareholders' funds4,3838,262
The financial statements were approved and authorised for issue by the Director on 25 February 2025, and are signed on its behalf by:
NESBITT, Robin
Director
Registered Company No. NI647424
INSIGHTT LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The company continues to adopt the going concern basis in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development costs are being amortised evenly over their estimated useful life of three years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 September 2311,00011,000
At 31 August 2411,00011,000
Amortisation and impairment
At 01 September 2311,00011,000
At 31 August 2411,00011,000
Net book value
At 31 August 24--
At 31 August 23--
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 September 235704,9155,485
At 31 August 245704,9155,485
Depreciation and impairment
At 01 September 235704,5445,114
Charge for year-349349
At 31 August 245704,8935,463
Net book value
At 31 August 24-2222
At 31 August 23-371371
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables559558
Bank borrowings and overdrafts-2,535
Taxation and social security2,5176,337
Other creditors8796
Accrued liabilities and deferred income307307
Total3,39110,533
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.