Insight Management and Systems Consultan - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02602313 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

FOR

INSIGHT MANAGEMENT AND SYSTEMS

CONSULTANTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P T Morley

REGISTERED OFFICE:

c/o Moore Stephens LLP

150 Aldersgate Street

London

EC1A 4AB

REGISTERED NUMBER:

02602313 (England and Wales)

ACCOUNTANTS:

Bowker, Stevens & Co

Suite No. 2, Centre Court

Vine Lane

Halesowen

West Midlands

B63 3EB

SOLICITORS:

Grindall & Hanna

58 Underhill Road

London

SE22 0QT

CURRENT ASSETS

Debtors

54,668

26,514

Cash at bank

4,223

11,214

58,891

37,728

CREDITORS

Amounts falling due within one year

20,725

146,954

NET CURRENT ASSETS/(LIABILITIES)

38,166

(109,226

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,166

(109,226

)

CREDITORS

Amounts falling due after more than one year

220,231

292,610

NET LIABILITIES

(182,065

)

(401,836

)

CAPITAL AND RESERVES

Called up share capital

3

300

300

Profit and loss account

(182,365

)

(402,136

)

SHAREHOLDERS' FUNDS

(182,065

)

(401,836

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 February 2016 and were signed by:

P T Morley - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting standard for Smaller Entities (effective April 2008).

Going concern

The director has concluded that there are no material uncertainties that may cast significant doubt about the

company's ability to continue as a going concern and consequently, the director considered that it was

appropriate to adopt the going concern basis when preparing the financial statements.

Turnover

Turnover represents amounts invoiced, excluding value added tax, in respect of the provision of services to

clients. Turnover in respect of work that has been performed but not yet invoiced is recognised when the

company obtains the right to consideration.

Tangible fixed assets

All fixed assets are initially recorded at cost.

Fixed assets costing under £2,500 are written off to the profit and loss account in the year that the expenditure is

incurred.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful

economic life of that asset as follows:

Leasehold Property - Straight line over the break clause of the lease

Equipment - Straight line over 24 to 60 months

Deferred tax

Deferred tax is provided using the liability method in respect of all timing differences that have originated but

not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered more likely than

not that future profits will be available for offset. The company has not adopted a policy of discounting deferred

tax assets and liabilities.

Pension costs

Contributions in respect of the company's defined contribution schemes are charged to the profit and loss account

for the year in which they are payable to the schemes. This represents the full extent of the company's liability.

Differences between contributions payable and contributions actually paid in the year are shown as either

accruals or prepayments at the year end.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against the profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

27,878

Disposals

(18,050

)

At 30 June 2015

9,828

DEPRECIATION

At 1 July 2014

27,878

Eliminated on disposal

(18,050

)

At 30 June 2015

9,828

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

300

Ordinary

£1

300

300

4.	RELATED PARTY DISCLOSURES