INSIRIS_LIMITED - Accounts

INSIRIS LIMITED - Company Information

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Company Registration No. 06676076 (England and Wales)

INSIRIS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

INSIRIS LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 5

INSIRIS LIMITED

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF INSIRIS LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2015

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Insiris Limited for the year ended 30 November 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Insiris Limited, as a body, in accordance with the terms of our engagement letter dated 9 January 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Insiris Limited and state those matters that we have agreed to state to the Board of Directors of Insiris Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insiris Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Insiris Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Insiris Limited. You consider that Insiris Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Insiris Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore and Smalley LLP

Chartered Accountants

Fylde House

Skyways Commercial Campus

Amy Johnson Way

Blackpool

FY4 3RS

5 April 2016

INSIRIS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

8,568

1,625

Current assets

Debtors

82,623

94,461

Cash at bank and in hand

129,778

77,144

212,401

171,605

Creditors: amounts falling due within one year

(54,375)

(55,021)

Net current assets

158,026

116,584

Total assets less current liabilities

166,594

118,209

Provisions for liabilities

(1,714)

(325)

164,880

117,884

Capital and reserves

Called up share capital

100

Profit and loss account

164,780

117,864

Shareholders' funds

164,880

117,884

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 5 April 2016

Mr D McCaffery

Mr M Summers

Director

Company Registration No. 06676076

INSIRIS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% Straight Line

Office equipment

50% Straight Line & 33% Straight Line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

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.

INSIRIS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 December 2014

15,239

Additions

13,191

At 30 November 2015

28,430

Depreciation

At 1 December 2014

13,614

Charge for the year

6,248

At 30 November 2015

19,862

Net book value

At 30 November 2015

8,568

At 30 November 2014

1,625

Share capital

2015

2014

Allotted, called up and fully paid

39 Ordinary A of £1 each

39 Ordinary B of £1 each

10 Ordinary C of £1 each

10 Ordinary D of £1 each

1 Ordinary E of £1 each

1 Ordinary F of £1 each

100

During the year 39 Ordinary A shares, 39 Ordinary B shares, 10 Ordinary C shares, 10 Ordinary D shares, 1 Ordinary E share and 1 Ordinary F share of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.

INSIRIS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 5 -

Directors' benefits: Advances, credits and guarantees

Mr Summers & Mr McCaffery directors’ loan account with the company was overdrawn at 1 December 2014 by £19,204 and the overdrawn balance was cleared on 6 April 2015. During this period cash advances totalling £8,957 were made and personal expenditure totalling £577 was met on behalf of Mr Summers & Mr McCaffery. During the same period the loan account was credited with reinvested dividends of £35,500.

During the period the maximum overdrawn balance on the loan was £26,648.

Interest, at a rate of 3.25% per annum, totalling £242 was charged by the company for the period when the loan account was overdrawn.