Insullite Limited - Accounts to registrar (filleted) - small 18.2

Insullite Limited - Accounts to registrar (filleted) - small 18.2

INSULLITE LIMITED - Company Information

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REGISTERED NUMBER: 08208530 (England and Wales)











Unaudited Financial Statements

for the Year Ended

31 March 2022

for

Insullite Limited
Insullite Limited (Registered number: 08208530)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Insullite Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: AP Birchall
NA Birchall





REGISTERED OFFICE: Spring Street Sawmills
Spring Street
Ramsbottom
Lancashire
BL0 9JQ





REGISTERED NUMBER: 08208530 (England and Wales)





ACCOUNTANTS: Mosley & Co
14 Market Place
Ramsbottom
Bury
Lancashire
BL0 9HT
Page 1
Insullite Limited (Registered number: 08208530)

Statement of Financial Position
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,065 21,996

CURRENT ASSETS
Stocks 49,424 37,714
Debtors 5 47,714 17,494
Cash at bank and in hand 352,545 460,619
449,683 515,827
CREDITORS
Amounts falling due within one year 6 333,326 399,981
NET CURRENT ASSETS 116,357 115,846
TOTAL ASSETS LESS CURRENT
LIABILITIES
151,422
137,842

PROVISIONS FOR LIABILITIES 7 6,662 4,179
NET ASSETS 144,760 133,663

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 144,660 133,563
SHAREHOLDERS' FUNDS 144,760 133,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
Insullite Limited (Registered number: 08208530)

Statement of Financial Position - continued
31 March 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 June 2022 and were signed on its behalf by:




NA Birchall - Director



AP Birchall - Director


The notes form part of these financial statements

Page 3
Insullite Limited (Registered number: 08208530)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Insullite Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Page 4 continued...
Insullite Limited (Registered number: 08208530)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2021 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 76,905
Additions 25,599
Disposals (12,424 )
At 31 March 2022 90,080
DEPRECIATION
At 1 April 2021 54,909
Charge for year 12,529
Eliminated on disposal (12,423 )
At 31 March 2022 55,015
NET BOOK VALUE
At 31 March 2022 35,065
At 31 March 2021 21,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 37,835 11,553
Other debtors 9,879 5,941
47,714 17,494

Page 5 continued...
Insullite Limited (Registered number: 08208530)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 235,271 184,436
Taxation and social security 16,235 69,964
Other creditors 81,820 145,581
333,326 399,981

7. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax 6,662 4,179

Deferred
tax
£   
Balance at 1 April 2021 4,179
Provided during year 2,483
Balance at 31 March 2022 6,662

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors, by virtue of their holding 100% of the issued share capital.

Page 6