Registered number
05670047
Insight Associates Ltd
Report and Accounts
30 April 2025
Insight Associates Ltd
Registered number: 05670047
Directors' Report
The directors present their report and accounts for the year ended 30 April 2025.
Principal activities
The company's principal activity during the year continued to be the provision of accountancy and financial management services.
Directors
The following persons served as directors during the year:
Garry P Mumford
Simon J Hammond
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 13 June 2025 and signed on its behalf.
Garry Mumford
Director
Insight Associates Ltd
Profit and Loss Account
for the year ended 30 April 2025
2025 2024
£ £
Turnover 1,005,852 916,471
Cost of sales (79,397) (87,881)
Gross profit 926,455 828,590
Administrative expenses (748,958) (662,132)
Operating profit 177,497 166,458
Profit on the disposal of tangible fixed assets 19,709 -
Interest receivable 3,944 2,814
Interest payable (2,367) (1,631)
Profit before taxation 198,783 167,641
Tax on profit (20,755) (41,415)
Profit for the financial year 178,028 126,226
Insight Associates Ltd
Registered number: 05670047
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 14,100 21,900
Tangible assets 4 132,811 40,989
146,911 62,889
Current assets
Debtors 5 97,405 45,116
Cash at bank and in hand 158,511 159,946
255,916 205,062
Creditors: amounts falling due within one year 6 (144,642) (160,343)
Net current assets 111,274 44,719
Total assets less current liabilities 258,185 107,608
Creditors: amounts falling due after more than one year 7 (51,549) -
Net assets 206,636 107,608
Capital and reserves
Called up share capital 10,000 10,000
Share premium 13,570 13,570
Profit and loss account 183,066 84,038
Shareholders' funds 206,636 107,608
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Garry Mumford
Director
Approved by the board on 13 June 2025
Insight Associates Ltd
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fittings 33% Straight Line
Motor Vehicles 25% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill & Website:
Cost
At 1 May 2024 129,607
At 30 April 2025 129,607
Amortisation
At 1 May 2024 107,707
Provided during the year 7,800
At 30 April 2025 115,507
Net book value
At 30 April 2025 14,100
At 30 April 2024 21,900
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. The website is being amortised on a straight line basis over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures & Fittings Motor vehicles Total
£ £ £
Cost
At 1 May 2024 118,675 98,895 217,570
Additions 25,268 97,404 122,672
Disposals (21,190) (39,700) (60,890)
At 30 April 2025 122,753 156,599 279,352
Depreciation
At 1 May 2024 106,971 69,610 176,581
Charge for the year 8,247 22,603 30,850
On disposals (21,190) (39,700) (60,890)
At 30 April 2025 94,028 52,513 146,541
Net book value
At 30 April 2025 28,725 104,086 132,811
At 30 April 2024 11,704 29,285 40,989
5 Debtors 2025 2024
£ £
Trade debtors 60,892 22,659
Other debtors 36,513 22,457
97,405 45,116
Amounts due after more than one year included above - -
6 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 8,198 28,678
Trade creditors 42,004 27,527
Taxation and social security costs 82,402 94,343
Other creditors 12,038 9,795
144,642 160,343
7 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 51,549 -
51,549 -
8 Other information
Insight Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Insight House
Riverside Business Park
Stoney Common Road, Stansted Mountfitchet
Essex
CM24 8PL
Insight Associates Ltd
Detailed profit and loss account
for the year ended 30 April 2025
This schedule does not form part of the statutory accounts
2025 2024
£ £
Sales 1,005,852 916,471
Cost of sales (79,397) (87,881)
Gross profit 926,455 828,590
Administrative expenses (748,958) (662,132)
Operating profit 177,497 166,458
Profit on the disposal of tangible fixed assets 19,709 -
Interest receivable 3,944 2,814
Interest payable (2,367) (1,631)
Profit before tax 198,783 167,641
Insight Associates Ltd
Detailed profit and loss account
for the year ended 30 April 2025
This schedule does not form part of the statutory accounts
2025 2024
£ £
Sales
Sales 1,005,852 916,471
1,005,852 916,471
Cost of sales
Purchases 79,397 87,881
79,397 87,881
Administrative expenses
Employee costs:
Wages and salaries 392,308 364,203
Pensions 66,960 16,234
Employer's NI 38,218 35,540
Temporary staff and recruitment 8,020 7,438
Staff training and welfare 28,065 25,236
Travel and subsistence 2,469 3,504
Motor expenses 15,661 18,173
Entertaining 1,004 722
552,705 471,050
Premises costs:
Rent 33,945 33,960
Rates 5,966 4,929
Service charges 1,620 1,607
Light and heat 10,041 6,741
51,572 47,237
General administrative expenses:
Telephone and internet 748 678
Postage 23 83
Stationery and printing 749 614
Computer Running Costs 28,466 37,509
Subscriptions 3,108 2,967
Bank charges (615) 184
Insurance 10,268 9,557
Repairs and maintenance 7,608 5,242
Depreciation 33,650 30,074
Amortisation of goodwill 5,000 5,000
Sundry expenses 260 261
89,265 92,169
Legal and professional costs:
Accountancy fees 2,727 2,692
Consultancy fees 6,443 6,540
Advertising and PR 46,246 42,444
55,416 51,676
748,958 662,132
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