Insignia Shipping Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08586296

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		7,748		3,758

			7,748		3,758
CURRENT ASSETS
Debtors	4	668,443		171,561
Cash at bank and in hand		228,616		204,910

		897,059		376,471
Creditors: Amounts Falling Due Within One Year	5	(783,836 )		(292,475 )

NET CURRENT ASSETS (LIABILITIES)			113,223		83,996

TOTAL ASSETS LESS CURRENT LIABILITIES			120,971		87,754

Creditors: Amounts Falling Due After More Than One Year	6		(32,532 )		(38,446 )

NET ASSETS			88,439		49,308

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			88,339		49,208

SHAREHOLDERS' FUNDS			88,439		49,308

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Insignia Shipping Services Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Badre Alam Baig Manzar Alam Baig

Director

8 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. Accounting Policies

1.1. 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.

1.2. 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.

1.3. 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:

Fixtures & Fittings	25% Reducing Balance
Computer Equipment	33% Straight line

1.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

1.5. 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 year 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.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 4)

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Insignia Shipping Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,709	10,146	13,855
Additions	-	6,573	6,573

As at 31 December 2024	3,709	16,719	20,428

Depreciation
As at 1 January 2024	3,382	6,715	10,097
Provided during the period	82	2,501	2,583

As at 31 December 2024	3,464	9,216	12,680

Net Book Value
As at 31 December 2024	245	7,503	7,748

As at 1 January 2024	327	3,431	3,758

4. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	579,563	97,661
Other debtors	19,561	25,462
Advance to Suppliers	64,389	37,179
VAT	4,930	11,259

	668,443	171,561

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	663,757	206,746
Corporation tax	12,790	10,937
Other taxes and social security	571	-
Net wages	18	-
Other creditors	21,707	38,159
Advance from customers	81,760	33,816
Pension liability	833	417
Accruals and deferred income	2,400	2,400

	783,836	292,475

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Insignia Shipping Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

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

	2024	2023
	£	£
Bank loans	32,532	38,446

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

8. Dividends

	2024	2023
	£	£
On equity shares:
Final dividend paid	-	15,323

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