Insynq Limited,Ltd - AccountsLtd - Accounts

Insynq Limited,Ltd - AccountsLtd - Accounts

INSYNQ LIMITED - Company Information

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2020-02-01 08860503 2021-01-31 08860503 2020-02-01 2021-01-31 08860503 2020-01-31 08860503 2019-02-01 2020-01-31 08860503 uk-core:WithinOneYear 2020-01-31 08860503 uk-core:WithinOneYear 2021-01-31 08860503 uk-core:AfterOneYear 2020-01-31 08860503 uk-core:AfterOneYear 2021-01-31 08860503 uk-core:ShareCapital 2021-01-31 08860503 uk-core:ShareCapital 2020-01-31 08860503 uk-core:RetainedEarningsAccumulatedLosses 2021-01-31 08860503 uk-core:RetainedEarningsAccumulatedLosses 2020-01-31 08860503 uk-bus:Director1 2020-02-01 2021-01-31 08860503 uk-core:ComputerEquipment 2020-02-01 2021-01-31 08860503 uk-core:AfterOneYear uk-core:Secured 2021-01-31 08860503 uk-core:AfterOneYear uk-core:Secured 2020-01-31 iso4217:GBP xbrli:pure 08860503 uk-bus:AuditExemptWithAccountantsReport 2020-02-01 2021-01-31 08860503 uk-bus:FRS102 2020-02-01 2021-01-31 08860503 uk-bus:FullAccounts 2020-02-01 2021-01-31 08860503 uk-bus:PrivateLimitedCompanyLtd 2020-02-01 2021-01-31
Insynq Limited
Registered Number:08860503
For the year ended 31 January 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 January 2021
Insynq Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08860503
As at 31 January 2021
Insynq Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
150
497
2
150
497
Current assets
Trade and other receivables
120,549
661
3
168,221
Cash and cash equivalents
86,762
87,423
288,770
Trade and other payables: amounts falling due within
one year
(248,509)
(33,539)
4
40,261
53,884
Net current assets
Total assets less current liabilities
54,034
40,758
Trade and other payables: amounts falling due after
more than one year
-
(50,000)
5
4,034
Net assets
40,758
Capital and reserves
Called up share capital
1
1
Retained earnings
4,033
40,757
4,034
40,758
Shareholders' funds
For the year ended 31 January 2021 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 of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Russell Gilbey Director
These financial statements were approved and authorised for issue by the Board on 18 November 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 January 2021
Insynq Limited
Notes to the Financial Statements
Statutory Information
Insynq Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08860503.
Principal place of business:
5 Woodrow Drive
Wokingham
Berkshire
RG40 1RU
Registered address:
1 Peach Street
Wokingham
RG40 1XJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention
as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Straight line
Computer Equipment
Foreign currencies
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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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5
For the year ended 31 January 2021
Insynq Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Computer
Equipment
£
Cost or
valuation
At 01 February 2020
1,388
At 31 January 2021
1,388
Provision for depreciation and impairment
At 01 February 2020
891
Charge for year
347
At 31 January 2021
1,238
At 31 January 2021
Net book value
150
At 31 January 2020
497
3. Trade and other receivables
2020
2021
£
£
Trade debtors
-
580
Other debtors
661
119,969
120,549
661
4. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
638
6,434
Taxation and social security
32,752
66,904
Other creditors
149
175,171
33,539
248,509
5. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft
50,000
-
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6
For the year ended 31 January 2021
Insynq Limited
Notes to the Financial Statements Continued
6. Related party transactions
An interest free loan was made to the company by Mr Russell Gilbey. The amount due at the year end was
£149 (2019 - £171).
7. Average number of persons employed
During the year the average number of employees was 1 (2020 : 1)
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