Insight Retail Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05595565 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Insight Retail Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S A Collinge

C J Lambert

SECRETARY:

A T Collinge

REGISTERED OFFICE:

Suite 1

Amersham House

Mill Street

Berkhamsted

Hertfordshire

HP4 2DT

REGISTERED NUMBER:

05595565 (England and Wales)

ACCOUNTANTS:

DUX Advisory Limited

Chartered Accountants

Kennel Club House

Gatehouse Way

Aylesbury

Buckinghamshire

HP19 8DB

FIXED ASSETS

Intangible assets

4

672

2,741

CURRENT ASSETS

Stocks

72,684

82,224

Debtors

5

63,000

182,761

Cash at bank

3,937

11,313

139,621

276,298

CREDITORS

Amounts falling due within one year

6

189,635

262,126

NET CURRENT (LIABILITIES)/ASSETS

(50,014

)

14,172

TOTAL ASSETS LESS CURRENT LIABILITIES

(49,342

)

16,913

CREDITORS

Amounts falling due after more than one year

7

12,191

15,484

NET (LIABILITIES)/ASSETS

(61,533

)

1,429

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

(61,543

)

1,419

(61,533

)

1,429

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:

S A Collinge - Director

1.	STATUTORY INFORMATION

Insight Retail 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.

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.

The Directors have made an assessment on the company's ability to continue as a going concern. Based on this assessment, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

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 3 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

12,737

AMORTISATION

At 1 January 2024

9,996

Charge for year

2,069

At 31 December 2024

12,065

NET BOOK VALUE

At 31 December 2024

672

At 31 December 2023

2,741

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

5,461

24,579

Other debtors

57,539

158,182

63,000

182,761

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

6,000

Trade creditors

128,454

101,104

Amounts owed to group undertakings

45,085

148,239

Taxation and social security

8,045

4,864

Other creditors

2,051

1,919

189,635

262,126

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans

12,191

15,484

8.	OTHER FINANCIAL COMMITMENTS

The total of future minimum lease payments under non-cancellable operating leases as at year end

31 December 2024 is as follows:

- Within one year £17,720

- After one year £16,641

9.	VOLUNTARY CHANGE IN ACCOUNTING STRUCTURE

The accounting structure has been changed from FRS 105 to FRS 102 (1A) to enhance the users use of these accounts. The 2023 prior period has also been changed to reflect the change in accounting structure. No prior year adjustments were made to the comparative figures.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Insight Retail Ltd for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Insight Retail Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Insight Retail Ltd and state those matters that we have agreed to state to the Board of Directors of Insight Retail Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insight Retail Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Insight Retail Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Insight Retail Ltd. You consider that Insight Retail Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Insight Retail Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

DUX Advisory Limited

Chartered Accountants

Kennel Club House

Gatehouse Way

Aylesbury

Buckinghamshire

HP19 8DB

8 August 2025