Insight Financial Research Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06438750 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

INSIGHT FINANCIAL RESEARCH LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Mills

Mrs S M Mills

SECRETARY:

Mrs S M Mills

REGISTERED OFFICE:

16 Carpenders Close

Harpenden

Hertfordshire

AL5 3HN

REGISTERED NUMBER:

06438750 (England and Wales)

ACCOUNTANTS:

Lamburn & Turner

Riverside House

3 Place Farm

Wheathampstead

Hertfordshire

AL4 8SB

FIXED ASSETS

Tangible assets

4

259

410

CURRENT ASSETS

Debtors

1,540

38,696

Cash at bank

56,475

24,754

58,015

63,450

CREDITORS

Amounts falling due within one year

21,813

23,319

NET CURRENT ASSETS

36,202

40,131

TOTAL ASSETS LESS CURRENT LIABILITIES

36,461

40,541

PROVISIONS FOR LIABILITIES

78

78

NET ASSETS

36,383

40,463

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

36,283

40,363

SHAREHOLDERS' FUNDS

36,383

40,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 March 2021 and were signed on its behalf by:

A Mills - Director

1.	STATUTORY INFORMATION

Insight Financial Research 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

2,881

DEPRECIATION

At 1 January 2020

2,471

Charge for year

151

At 31 December 2020

2,622

NET BOOK VALUE

At 31 December 2020

259

At 31 December 2019

410

5.	GOING CONCERN - COVID 19

The directors have considered the impact of the coronavirus pandemic on the company's financial position. Due to the nature of the services provided, the company has been impacted by the pandemic. Financial assistance such as the coronavirus job retention scheme grants and small business rates relief grant have been disclosed in the financial statements. The directors consider that no other adjustments are required.