Cornwall Insight Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05379768 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

CORNWALL INSIGHT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N P Cornwall

Mr A W S Jones

Mr R E Buckley

Ms S C Brown

Mr G Miller

REGISTERED OFFICE:

2 Millennium Plain

Bethel Street

Norwich

Norfolk

NR2 1TF

REGISTERED NUMBER:

05379768 (England and Wales)

ACCOUNTANTS:

Sexty & Co

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

FIXED ASSETS

Tangible assets

4

99,063

71,453

CURRENT ASSETS

Debtors

5

1,323,430

761,612

Cash at bank

1,014,633

451,376

2,338,063

1,212,988

CREDITORS

Amounts falling due within one year

6

1,408,078

957,788

NET CURRENT ASSETS

929,985

255,200

TOTAL ASSETS LESS CURRENT LIABILITIES

1,029,048

326,653

PROVISIONS FOR LIABILITIES

19,000

13,000

NET ASSETS

1,010,048

313,653

CAPITAL AND RESERVES

Called up share capital

108

105

Share premium

57,334

46,922

Capital redemption reserve

7

7

Retained earnings

952,599

266,619

SHAREHOLDERS' FUNDS

1,010,048

313,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 August 2017 and were signed on its behalf by:

Mr N P Cornwall - Director

Mr R E Buckley - Director

1.	STATUTORY INFORMATION

Cornwall Insight Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

The company adopted FRS102 in the current year. Upon transition no material recognition or

measurement differences arose therefore there were no changes to the net assets or profits previously

reported.

Turnover

Turnover represents the amount receivable for the provision of goods and services, excluding value

added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and Straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

140,742

Additions

84,668

At 31 March 2017

225,410

DEPRECIATION

At 1 April 2016

69,289

Charge for year

57,058

At 31 March 2017

126,347

NET BOOK VALUE

At 31 March 2017

99,063

At 31 March 2016

71,453

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

880,948

467,130

Other debtors

360,829

244,297

1,241,777

711,427

Amounts falling due after more than one year:

Other debtors

81,653

50,185

Aggregate amounts

1,323,430

761,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

38,931

49,433

Taxation and social security

492,090

392,707

Other creditors

877,057

515,648

1,408,078

957,788

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mr N P Cornwall

Balance outstanding at start of year

200,740

-

Amounts advanced

103,866

200,740

Amounts repaid

(7,042

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

297,564

200,740

Interest has been charged on this loan at the official HM Revenue & Customs rate.

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY