INSITE HOLDCO LIMITED

INSITE HOLDCO LIMITED

INSITE HOLDCO LIMITED - Company Information

Print Friendly Version

INSITE HOLDCO LIMITED

Company Registration Number:
09107226 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

INSITE HOLDCO LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

INSITE HOLDCO LIMITED

Balance sheet

As at 30 June 2023


Notes
2023
2022


£
£
Fixed assets
Investments: 3 100 100
Total fixed assets: 100 100
Current assets
Debtors: 4 1,083,644 1,046,914
Cash at bank and in hand: 13,851 13,616
Total current assets: 1,097,495 1,060,530
Creditors: amounts falling due within one year: 5 (1,109,159) (955,728)
Net current assets (liabilities): (11,664) 104,802
Total assets less current liabilities: (11,564) 104,902
Total net assets (liabilities): (11,564) 104,902
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (11,664) 104,802
Shareholders funds: (11,564) 104,902

The notes form part of these financial statements

INSITE HOLDCO LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 March 2024
and signed on behalf of the board by:

Name: P E Tuch
Status: Director

The notes form part of these financial statements

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:- the amount of revenue can be measured reliably;- it is probable that the Company will receive the consideration due under the contract;- the stage of completion of the contract at the end of the reporting period can be measured reliably; and- the costs incurred and the costs to complete the contract can be measured reliably.

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Fixed investments

Joint Ventures are held at cost less impairment.

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 1,046,649 1,046,649

Amounts owed by joint ventures and related companies at 31 December 2023 was £1,046,649 (2022: £1,046,649). Other debtors at 31 December 2023 was £36,913 (2022: £266).

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Creditors: amounts falling due within one year note

Trade creditors at 31 December 2023 was £43,374 (2022: £203). Other creditors at 31 December 2023 was £1,065,785 (2022: £955,525).

INSITE HOLDCO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Related party transactions

Name of the related party: lnsite Energy Limited
Relationship:
lnsite Holdco Limited owns 45% of lnsite Energy Limited
Description of the Transaction: During the year the Company provided services to the value of £25,200 (2022: £27,575) to lnsite Energy Limited. At the year-end £nil (2022: £nil) was owed to the Company by lnsite Energy Limited.
£
Balance at 01 July 2022 0
Balance at 30 June 2023 0
Name of the related party: lnsite Energy Limited
Relationship:
lnsite Holdco Limited owns 45% of lnsite Energy Limited
Description of the Transaction: During the year a loan of £0 (2022: £0) was advanced to lnsite Energy Limited. Interest accrued on the loan during the year was £69,723 (2022: £69,900), and repayments of £69,723 (2022: £101,630) were made by Insite Energy Limited. At the year-end £1,936,749 (2022: £1,936,749) was owed to the Company by lnsite Energy Limited.
£
Balance at 01 July 2022 1,936,749
Balance at 30 June 2023 1,936,749
Name of the related party: Tuch Consulting Limited
Relationship:
Mr P E Tuch, a director of the Company, is also a director of Tuch Consulting Limited
Description of the Transaction: During the year the Company was charged £25,000 (2022: £1,520) by Tuch Consulting Limited in respect of consultancy fees. At the year-end £9,000 (2022: £nil), was owed to Tuch Consulting Limited.
£
Balance at 01 July 2022 0
Balance at 30 June 2023 9,000