Insight Business Advisers Limited Accounts

INSIGHT BUSINESS ADVISERS LIMITED - Company Information






Insight Business Advisers Limited

	Company No. 08969456
		Information for Filing with The Registrar
		31 March 2022

The Director presents his report and the accounts for the year ended 31 March 2022.

Principal activities
The principal activity of the company during the year under review was that of business advisers.




Director

The Director who served at any time during the year was as follows:

R. Gomersall





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

R. Gomersall
Director
14 June 2022

at	31 March 2022
Company No.		08969456	Notes	2022	2021
				£	£
Fixed assets

	Tangible assets		4	125,114	140,855


				125,114	140,855
Current assets

	Debtors		5	12,456	3,591

	Cash at bank and in hand			87,640	14,414
				100,096	18,005
Creditors: Amount falling due within one year			6	(82,526)	(19,403)
Net current assets/(liabilities)				17,570	(1,398)
Total assets less current liabilities				142,684	139,457
Creditors: Amounts falling due after more than one year			7	(50,000)	(78,003)



Net assets				92,684	61,454

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		8	92,584	61,354

Total equity				92,684	61,454



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 14 June 2022
And signed on its behalf by:
R. Gomersall
Director
14 June 2022

for the year ended 31 March 2022

General information

Its registered number is: 08969456

Its registered office is:

473 Warrington Road

Culcheth

Warrington

Cheshire

WA3 5QU

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

The 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 profit and loss account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.

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.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	2	2

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2021	150,000	2,372	152,372
		Additions	-	71	71



		At 31 March 2022	150,000	2,443	152,443
		Depreciation
		At 1 April 2021	11,250	267	11,517
		Charge for the year	15,000	812	15,812



		At 31 March 2022	26,250	1,079	27,329
		Net book values
		At 31 March 2022	123,750	1,364	125,114
		At 31 March 2021	138,750	2,105	140,855

5	Debtors
			2022	2021
			£	£




		VAT recoverable	3,456	432

		Other debtors	9,000	3,159

			12,456	3,591

6	Creditors:
		amounts falling due within one year
			2022	2021
			£	£







		Other taxes and social security	33,451	17,064

		Other creditors	46,736	-
		Accruals and deferred income	2,339	2,339
			82,526	19,403

7	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£






		Other creditors	50,000	78,003

			50,000	78,003

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.