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 2023

at	31 March 2023
Company No.		08969456	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	146,117	125,114

	Investments		5	6,000	-
				152,117	125,114
Current assets

	Debtors		6	31,765	12,456

	Cash at bank and in hand			10,552	87,640
				42,317	100,096
Creditors: Amount falling due within one year			7	(111,404)	(82,526)
Net current (liabilities)/assets				(69,087)	17,570
Total assets less current liabilities				83,030	142,684
Creditors: Amounts falling due after more than one year			8	-	(50,000)



Net assets				83,030	92,684

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		9	82,930	92,584

Total equity				83,030	92,684



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 2023 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 30 June 2023
And signed on its behalf by:
R. Gomersall
Director
30 June 2023

for the year ended 31 March 2023

General information

Its registered number is: 08969456

Its registered office is:

473 Warrington Road

Culcheth

Warrington

Cheshire

WA3 5QU

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.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

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
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	4	2

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2022	150,000	2,443	152,443
		Additions	37,825	-	37,825



		At 31 March 2023	187,825	2,443	190,268
		Depreciation
		At 1 April 2022	26,250	1,079	27,329
		Charge for the year	16,007	815	16,822



		At 31 March 2023	42,257	1,894	44,151
		Net book values
		At 31 March 2023	145,568	549	146,117
		At 31 March 2022	123,750	1,364	125,114

5	Investments
			Investment in Subsidiaries	Total
			£	£
		Cost or valuation

		Additions	6,000	6,000


		At 31 March 2023	6,000	6,000
		Provisions/Impairment





		Net book values
		At 31 March 2023	6,000	6,000

6	Debtors
			2023	2022
			£	£
		Trade debtors	13,765	-



		VAT recoverable	-	3,456

		Other debtors	18,000	9,000

			31,765	12,456

7	Creditors:
		amounts falling due within one year
			2023	2022
			£	£






		Taxes and social security	31,272	33,451

		Other creditors	77,793	46,736
		Accruals and deferred income	2,339	2,339
			111,404	82,526

8	Creditors:
		amounts falling due after more than one year
			2023	2022
			£	£






		Other creditors	-	50,000

			-	50,000

Reserves

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