Accounts Submission


INSET LTD

Company Registration Number:
06351580 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 November 2015

End date: 31 October 2016

INSET LTD

Abbreviated Balance sheet

As at 31 October 2016


Notes

2016
£

2015
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 2 6,221 2,022
Total fixed assets: 6,221 2,022
Current assets
Debtors: 3 4,774 7,445
Cash at bank and in hand: 13,128 17,753
Total current assets: 17,902 25,198
Creditors: amounts falling due within one year: 4 ( 21,448 ) ( 24,054 )
Net current assets (liabilities): ( 3,546 ) 1,144
Total assets less current liabilities: 2,675 3,166
Creditors: amounts falling due after more than one year: 0 0
Provision for liabilities: 0 ( 404 )
Total net assets (liabilities): 2,675 2,762

The notes form part of these financial statements

INSET LTD

Balance sheet continued

As at 31 October 2016


Notes

2016
£

2015
£
Capital and reserves
Called up share capital: 5 100 100
Revaluation reserve: 0 0
Profit and loss account: 2,575 2,662
Shareholders funds: 2,675 2,762

For the year ending 31 October 2016 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.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 02 May 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: Peter Bruce Watts
Status: Director

The notes form part of these financial statements

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    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)

    Turnover policy

    the turnover shown in the profit and loss account represents revenue earned during the period exclusive of VAT

    Tangible fixed assets depreciation policy

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

    Office Equipment -15% Reducing Balance
    Commercial Vehicle -25% Reducing Balance

    Other accounting policies

    Taxation
    Corporation tax payable is provided on taxable profits at the current rate.

    Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 2. Tangible assets

    Total
    Cost £
    01 November 2015: 6,651
    Additions: 6,400
    Disposals: ( 3,500 )
    Revaluations: 0
    Transfers: 0
    31 October 2016: 9,551
    Depreciation
    01 November 2015: 4,629
    Charge for year: 1,851
    On disposals: ( 3,150 )
    Other adjustments: 0
    31 October 2016: 3,330
    Net book value
    31 October 2016: 6,221
    31 October 2015: 2,022

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 3. Debtors


    2016
    £

    2015
    £
    Trade debtors: 4,774 7,445
    Prepayments and accrued income: 0 0
    Total: 4,774 7,445

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 4. Creditors: amounts falling due within one year


    2016
    £

    2015
    £
    Bank loans and overdrafts: 0 0
    Amounts due under finance leases and hire purchase contracts: 0 0
    Trade creditors: 0 30
    Taxation and social security: 4,228 7,887
    Accruals and deferred income: 750 800
    Other creditors: 16,470 15,337
    Total: 21,448 24,054

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 5. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0
    Total share capital (£): 100

INSET LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 October 2016

  • 6. Related party disclosures

    Name of the ultimate controlling party during the period: Peter Bruce Watts
    Name of related party: 0
    Description of the transaction 0
    Balance at 01 November 2015 0
    Balance at 31 October 2016 0