BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of consultancy and legal services in relation to data protection. 21 July 2025 0 0 NI692211 2024-10-31 NI692211 2023-10-31 NI692211 2022-10-31 NI692211 2023-11-01 2024-10-31 NI692211 2022-11-01 2023-10-31 NI692211 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI692211 uk-curr:PoundSterling 2023-11-01 2024-10-31 NI692211 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI692211 uk-bus:FullAccounts 2023-11-01 2024-10-31 NI692211 uk-bus:Director1 2023-11-01 2024-10-31 NI692211 uk-bus:RegisteredOffice 2023-11-01 2024-10-31 NI692211 uk-bus:Agent1 2023-11-01 2024-10-31 NI692211 uk-core:ShareCapital 2024-10-31 NI692211 uk-core:ShareCapital 2023-10-31 NI692211 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI692211 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI692211 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 NI692211 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI692211 uk-bus:FRS102 2023-11-01 2024-10-31 NI692211 uk-core:Goodwill 2023-11-01 2024-10-31 NI692211 uk-core:PlantMachinery 2023-11-01 2024-10-31 NI692211 uk-core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI692211 uk-core:MotorVehicles 2023-11-01 2024-10-31 NI692211 uk-core:Goodwill 2023-10-31 NI692211 uk-core:Goodwill 2024-10-31 NI692211 uk-core:CurrentFinancialInstruments 2024-10-31 NI692211 uk-core:CurrentFinancialInstruments 2023-10-31 NI692211 uk-core:WithinOneYear 2024-10-31 NI692211 uk-core:WithinOneYear 2023-10-31 NI692211 uk-core:EmployeeBenefits 2023-10-31 NI692211 uk-core:EmployeeBenefits 2023-11-01 2024-10-31 NI692211 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 NI692211 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-10-31 NI692211 uk-core:OtherDeferredTax 2024-10-31 NI692211 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-10-31 NI692211 uk-core:EmployeeBenefits 2024-10-31 NI692211 2023-11-01 2024-10-31 NI692211 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Pragmatic Insights LTD
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2024
Pragmatic Insights LTD
Director and Other Information

 
Director Peter Edward John Darragh
 
 
Company Registration Number NI692211
 
 
Registered Office and Business Address Townsend Enterprise Park, 28 Townsend Street,
Belfast
BT13 2ES
Northern Ireland
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place,
The Gasworks,
Belfast
BT7 2JB
en-gb



Pragmatic Insights LTD
Company Registration Number: NI692211
Balance Sheet
as at 31 October 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 36,255 40,787
Tangible assets 5 39,425 48,018
───────── ─────────
Fixed Assets 75,680 88,805
───────── ─────────
 
Current Assets
Debtors 6 10,674 16,140
Cash and cash equivalents 43,024 27,332
───────── ─────────
53,698 43,472
───────── ─────────
Creditors: amounts falling due within one year 7 (56,938) (51,470)
───────── ─────────
Net Current Liabilities (3,240) (7,998)
───────── ─────────
Total Assets less Current Liabilities 72,440 80,807
 
Creditors:
amounts falling due after more than one year 8 (50,000) (50,000)
 
Provisions for liabilities 10 (8,144) (8,968)
───────── ─────────
Net Assets 14,296 21,839
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 14,294 21,837
───────── ─────────
Equity attributable to owners of the company 14,296 21,839
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 21 July 2025
           
           
________________________________          
Peter Edward John Darragh          
Director          
           



Pragmatic Insights LTD
Notes to the Financial Statements
for the financial year ended 31 October 2024

   
1. General Information
 
Pragmatic Insights LTD is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI692211. The registered office of the company is Townsend Enterprise Park, 28 Townsend Street,, Belfast, BT13 2ES, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is the provision of consultancy and legal services in relation to data protection. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% Straight line
  Fixtures, fittings and equipment - 25% Straight line
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1.
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 November 2023 45,319 45,319
  ───────── ─────────
 
At 31 October 2024 45,319 45,319
  ───────── ─────────
Amortisation
At 1 November 2023 4,532 4,532
Charge for financial year 4,532 4,532
  ───────── ─────────
At 31 October 2024 9,064 9,064
  ───────── ─────────
Net book value
At 31 October 2024 36,255 36,255
  ═════════ ═════════
At 31 October 2023 40,787 40,787
  ═════════ ═════════
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 November 2023 600 3,623 57,990 62,213
Additions - 4,286 - 4,286
Disposals - (75) - (75)
  ───────── ───────── ───────── ─────────
At 31 October 2024 600 7,834 57,990 66,424
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2023 138 768 13,289 14,195
Charge for the financial year 150 1,502 11,175 12,827
On disposals - (23) - (23)
  ───────── ───────── ───────── ─────────
At 31 October 2024 288 2,247 24,464 26,999
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2024 312 5,587 33,526 39,425
  ═════════ ═════════ ═════════ ═════════
At 31 October 2023 462 2,855 44,701 48,018
  ═════════ ═════════ ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 9,198 16,140
Taxation  (Note 9) 241 -
Prepayments and accrued income 1,235 -
  ───────── ─────────
  10,674 16,140
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors - 728
Taxation  (Note 9) 5,273 3,675
Director's current account 49,265 47,067
Accruals 2,400 -
  ───────── ─────────
  56,938 51,470
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Other loans 50,000 50,000
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI 241 -
  ═════════ ═════════
Creditors:
VAT 5,273 3,675
  ═════════ ═════════
           
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 11,676 (2,708) 8,968 -
Charged to profit and loss (2,030) 1,206 (824) 8,968
  ───────── ───────── ───────── ─────────
At financial year end 9,646 (1,502) 8,144 8,968
  ═════════ ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2024.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.