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REGISTERED NUMBER: 08615238 (England and Wales)















INSYDIUM LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024






INSYDIUM LTD (REGISTERED NUMBER: 08615238)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSYDIUM LTD

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: Mr D J O'Reilly
Mr M J Batchelor
Dr S J Pedler
Mrs K J O'Reilly





SECRETARY: Mrs K J O'Reilly





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 08615238 (England and Wales)





ACCOUNTANTS: SMH Sheards
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 40,938 101,961
40,938 101,961

CURRENT ASSETS
Debtors 6 10,626 7,961
Cash at bank and in hand 136,645 156,155
147,271 164,116
CREDITORS
Amounts falling due within one year 7 (1,345,097 ) (676,029 )
NET CURRENT LIABILITIES (1,197,826 ) (511,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,156,888

)

(409,952

)

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (1,186,888 ) (439,952 )
SHAREHOLDERS' FUNDS (1,156,888 ) (409,952 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

BALANCE SHEET - continued
31 July 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:




Mr D J O'Reilly - Director



Mrs K J O'Reilly - Director


INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024


1. STATUTORY INFORMATION

Insydium Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Business challenges stem from sector-wide shifts, with plans underway for future adjustments. The company does not have any external debt or loans. The business is at present dependent on support from the Holding Company.

Turnover
Turnover is net invoiced sales of digital software, excluding value added tax. The sale is recognised when the payment is made.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2013, has now been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on cost

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.


INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 30,000
AMORTISATION
At 1 August 2023
and 31 July 2024 30,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 491,061
Additions 1,984
Disposals (30,010 )
At 31 July 2024 463,035
DEPRECIATION
At 1 August 2023 389,100
Charge for year 42,380
Eliminated on disposal (9,383 )
At 31 July 2024 422,097
NET BOOK VALUE
At 31 July 2024 40,938
At 31 July 2023 101,961

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,626 7,961

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,083,842 360,842
Taxation and social security 68,713 102,686
Other creditors 192,542 212,501
1,345,097 676,029

8. RELATED PARTY DISCLOSURES

Loans owing to Insydium Holdings Ltd of £1,083,842 (2023 - £360,842) were outstanding at the year end, a company which is the majority shareholder of Insydium Ltd. The amounts are interest free and repayable on demand.

Loans owing to the directors of £74,900 were outstanding at the year end. The amounts are interest free and repayable on demand.

Freehold property which had previously been held in the company was transferred to Insydium Holdings Ltd at net book value. Insydium Holdings Ltd is the majority shareholder of Insydium Ltd.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Insydium Holdings Ltd.

INSYDIUM LTD (REGISTERED NUMBER: 08615238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024


10. GOING CONCERN

The financial statements have been prepared on a Going Concern basis on the basis that the company will continue to trade for the foreseeable future.
Business challenges within the sector have been addressed, and the business operations modified to deal with the challenges and return to profit.