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REGISTERED NUMBER: 08881788 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Insightful Technology Limited

Insightful Technology Limited (Registered number: 08881788)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Insightful Technology Limited

Company Information
for the Year Ended 28 February 2025







DIRECTORS: R D Houghton
R F Millett
A Stewart





SECRETARY: R F Millett





REGISTERED OFFICE: No 2
The Royal Exchange
London
EC3V 3LL





REGISTERED NUMBER: 08881788 (England and Wales)





ACCOUNTANTS: G & R Millett T/as G M Agencies
Orchard Cottage
Old Apley
Market Rasen
Lincolnshire
LN8 5JQ

Insightful Technology Limited (Registered number: 08881788)

Report of the Directors
for the Year Ended 28 February 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of software development and computer consultancy.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

R D Houghton
R F Millett
A Stewart

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

ON BEHALF OF THE BOARD:





A Stewart - Director


19 March 2025

Insightful Technology Limited (Registered number: 08881788)

Income Statement
for the Year Ended 28 February 2025

28.2.25 29.2.24
Notes £    £   

TURNOVER 5,830,986 3,877,434

Cost of sales 2,624,264 2,595,661
GROSS PROFIT 3,206,722 1,281,773

Administrative expenses 2,987,914 2,641,400
OPERATING PROFIT/(LOSS) 4 218,808 (1,359,627 )

Interest receivable and similar income 4,790 12,500
223,598 (1,347,127 )

Interest payable and similar expenses 114,966 110,452
PROFIT/(LOSS) BEFORE TAXATION 108,632 (1,457,579 )

Tax on profit/(loss) (411,640 ) (200,000 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

520,272

(1,257,579

)

Insightful Technology Limited (Registered number: 08881788)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 315,970 401,585
Tangible assets 6 427,536 374,160
743,506 775,745

CURRENT ASSETS
Debtors 7 1,974,176 929,722
Cash at bank 363,076 283,942
2,337,252 1,213,664
CREDITORS
Amounts falling due within one year 8 1,029,790 458,713
NET CURRENT ASSETS 1,307,462 754,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,050,968

1,530,696

CREDITORS
Amounts falling due after more than one
year

9

806,863

806,863
NET ASSETS 1,244,105 723,833

CAPITAL AND RESERVES
Called up share capital 10 128 128
Share premium 11 4,676,974 4,676,974
Retained earnings 11 (3,432,997 ) (3,953,269 )
SHAREHOLDERS' FUNDS 1,244,105 723,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

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.

Insightful Technology Limited (Registered number: 08881788)

Balance Sheet - continued
28 February 2025


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





R D Houghton - Director


Insightful Technology Limited (Registered number: 08881788)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Insightful Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of seven years.

Soteria2 development is being amortised evenly over its estimated useful life of seven years.

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 - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Insightful Technology Limited (Registered number: 08881788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 18 ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

28.2.25 29.2.24
£    £   
Depreciation - owned assets 55,690 55,744
Development costs amortisation 46,271 46,271
Soteria2 development amortisation 39,344 39,344

5. INTANGIBLE FIXED ASSETS
Patents
and Development Soteria2
licences costs development Totals
£    £    £    £   
COST
At 1 March 2024
and 28 February 2025 20,000 323,897 275,412 619,309
AMORTISATION
At 1 March 2024 - 141,098 76,626 217,724
Amortisation for year - 46,271 39,344 85,615
At 28 February 2025 - 187,369 115,970 303,339
NET BOOK VALUE
At 28 February 2025 20,000 136,528 159,442 315,970
At 29 February 2024 20,000 182,799 198,786 401,585

Insightful Technology Limited (Registered number: 08881788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2024 2,316 553,977 556,293
Additions - 109,066 109,066
At 28 February 2025 2,316 663,043 665,359
DEPRECIATION
At 1 March 2024 694 181,439 182,133
Charge for year 347 55,343 55,690
At 28 February 2025 1,041 236,782 237,823
NET BOOK VALUE
At 28 February 2025 1,275 426,261 427,536
At 29 February 2024 1,622 372,538 374,160

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Accounts receivable 1,769,121 613,262
VAT - 61,405
Prepayments and accrued income 205,055 255,055
1,974,176 929,722

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts - 97,468
Trade creditors 634,570 279,176
Pension contributions 18 18
VAT 361,719 -
Loan - Sherlock - 35,250
GLIF CBILs Loan - 12,500
Directors' accounts 33,483 34,301
1,029,790 458,713

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Loan - Smith 806,863 806,863

Insightful Technology Limited (Registered number: 08881788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.25 29.2.24
value: £    £   
1,092,700 A Ordinary 0.01p 109 109
188,956 Preference 0.01p 19 19
128 128

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 March 2024 (3,953,269 ) 4,676,974 723,705
Profit for the year 520,272 520,272
At 28 February 2025 (3,432,997 ) 4,676,974 1,243,977

12. SUBDIVISION OF SHARES

On 22 January 2020, the company subdivided it's A Ordinary shares from 1p per share into 0.01p per share

13. RIGHTS ISSUE

On 22 January 2020 the company issued 1 additional share for every 4 A Ordinary shares held by Investors of 4 April 2019 and 16 May 2019

14. WARRANTS

During 2020/21 year, 1,512 warrants were issued (bringing the total number of warrants in issue up to 4,762) with an exercise price of £1,000 per warrant to the holders. The exercise period is 15 years and is dependant upon sufficient capital being raised.