INSITE ENERGY LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

INSITE ENERGY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07073730 . The registered office is Studio 4 Stuart House, St. Johns Street, Peterborough, PE1 5DD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairement losses. All intangible assets are considered to have a finite useful life. It is amortised to profit and loss account over its estimated economic life of 4 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% Straight Line
Motor Vehicles	16.7% Striaight Line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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INSITE ENERGY LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third

parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and

other accounts receivable and payable, are initially measured at present value of the future cash flows and

subsequently at amortised cost using the effective interest method. Debt instruments that are payable or

receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at

the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the

arrangements of a short term instrument consistute a financing transaction, like the payment of trade debt

deferred beyond normal business terms or in case of an out‑right short term loan that is not at market rate,

the financial asset or liability is measured, initially at the present value of future cash flows discounted at a

market rate of interest for similar debt instrument and subsequently at amortised cost, unless it qualifies as a

loan from a director in the case of a small company, or a public benefit entity concessionary loan.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Debtors and Creditors

Short term debtors are measured at transaction price, less any impairment. Loans receiveable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of

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INSITE ENERGY LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.10. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on

notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than

three months from the date of acquisition and that are readily convertible to known amounts of cash with

insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 79 (2023: 66)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	112,723

As at 31 December 2024	112,723

Amortisation
As at 1 January 2024	43,680
Provided during the period	28,181

As at 31 December 2024	71,861

Net Book Value
As at 31 December 2024	40,862

As at 1 January 2024	69,043

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	778,630	44,301	822,931
Additions	36,398	44,861	81,259

As at 31 December 2024	815,028	89,162	904,190

Depreciation
As at 1 January 2024	710,907	3,992	714,899
Provided during the period	43,461	9,439	52,900

As at 31 December 2024	754,368	13,431	767,799

Net Book Value
As at 31 December 2024	60,660	75,731	136,391

As at 1 January 2024	67,723	40,309	108,032

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INSITE ENERGY LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Stocks

	2024	2023
	£	£
Stock	196,628	132,072

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	988,925	822,888
Prepayments and accrued income	437,245	342,471
Other debtors	76,777	64,985
Deferred tax current asset	456,807	652,039
Net wages	663	-
Amounts owed by joint-ventures	811,039	588,481
Amounts owed by other participating interests	729	-

	2,772,185	2,470,864

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	495,354	364,331
Bank loans and overdrafts	13,356	9,808
Other taxes and social security	136,883	117,107
VAT	236,037	337,710
Other creditors	171,245	211,741
Accruals and deferred income	434,348	251,020
Amounts owed to other participating interests	47	-

	1,487,270	1,291,717

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	8,230	20,878
Amounts owed to parent undertaking	3,573,497	3,835,340

	3,581,727	3,856,218

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INSITE ENERGY LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	355,557	355,557

11. Related Party Transactions

Name of the related party:	Rydon Holdings Limited
Relationship:	Parent Undertakings
Description of the Transaction:	Long-term loans due to parent undertaking
	£
Balance at 01 January 2024	1,924,692
Balance at 31 December 2024	1,786,749

R Bond, a director of the Company, is also a director of Rydon Holdings Limited.

Name of the related party:	Insite Holdco Limited
Relationship:	Parent Undertakings
Description of the Transaction:	Long-term loans due to parent undertakings
	£
Balance at 01 January 2024	1,911,670
Balance at 31 December 2024	1,786,749

P Tuch, a director of the Company, is also a director of Insite HoldCo Limited.

Name of the related party:	Kurve Technologies Ltd
Relationship:	JV Entity
Description of the Transaction:	Long-term loans due from JV entity
	£
Balance at 01 January 2024	588,481
Balance at 31 December 2024	811,039

P Tuch, a director of the Company, is also a director of Kurve Technologies Limited.

12. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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INSITE ENERGY LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Audit Information

The auditor's report on the accounts of INSITE ENERGY LIMITED for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Nathan Smith ACA (Senior Statutory Auditor) for and on behalf of Byrd Link Audit & Accountancy Services Limited , Statutory Auditor.

Byrd Link Audit & Accountancy Services Limited

Suite 5.4 Honeybourne Place

Jessop Avenue

Cheltenham

Gloucestershire

GL50 3SH

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		40,862		69,043
Tangible Assets	5		136,391		108,032
Investments			100		100

			177,353		177,175
CURRENT ASSETS
Stocks	6	196,628		132,072
Debtors	7	2,772,185		2,470,864
Cash at bank and in hand		471,636		339,097

		3,440,449		2,942,033
Creditors: Amounts Falling Due Within One Year	8	(1,487,270 )		(1,291,717 )

NET CURRENT ASSETS (LIABILITIES)			1,953,179		1,650,316

TOTAL ASSETS LESS CURRENT LIABILITIES			2,130,532		1,827,491

Creditors: Amounts Falling Due After More Than One Year	9		(3,581,727 )		(3,856,218 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(34,098 )		(20,526 )

NET LIABILITIES			(1,485,293 )		(2,049,253 )

CAPITAL AND RESERVES
Called up share capital	10		355,557		355,557
Share premium account			25,633		25,633
Profit and Loss Account			(1,866,483 )		(2,430,443 )

SHAREHOLDERS' FUNDS			(1,485,293)		(2,049,253)