Company Registration No. 08834469 (England and Wales)
INSPIRED VENTURES LIMITED
Unaudited accounts
for the year ended 31 January 2023
INSPIRED VENTURES LIMITED
Unaudited accounts
Contents
INSPIRED VENTURES LIMITED
Company Information
for the year ended 31 January 2023
Directors
M Fenton
K Perry
K Shafqat
Company Number
08834469 (England and Wales)
Registered Office
2 Faraday Lodge
Badgers Holt
Tunbridge Wells
Kent
TN2 3DX
United Kingdom
Accountants
WNR Associates Limited
63/66 Hatton Garden
Fifth Floor Suite 23
London
EC1N 8LE
INSPIRED VENTURES LIMITED
Statement of financial position
as at 31 January 2023
Cash at bank and in hand
3,250
(32,701)
Creditors: amounts falling due within one year
(38,111)
(35,354)
Net current liabilities
(12,202)
(58,488)
Total assets less current liabilities
(12,202)
(58,488)
Creditors: amounts falling due after more than one year
(39,011)
(49,585)
Net liabilities
(51,213)
(108,073)
Called up share capital
57,732
57,732
Share premium
247,633
247,633
Profit and loss account
(356,578)
(413,438)
Shareholders' funds
(51,213)
(108,073)
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by
M Fenton
Director
Company Registration No. 08834469
INSPIRED VENTURES LIMITED
Notes to the Accounts
for the year ended 31 January 2023
INSPIRED VENTURES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08834469. The registered office is 2 Faraday Lodge, Badgers Holt , Tunbridge Wells , Kent , TN2 3DX , United Kingdom .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company at present is showing a deficit on resources and in the Balance sheet totals.
The Directors have showed their intention to continue supporting the company financially until such a time as when the company can operate on its own funding.
The Director have also showed their intention not to draw down on any loans made to the company until such a time when the company is able to begin repayment without adversely affecting its operations.
In light of the above, the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the accounts.
INSPIRED VENTURES LIMITED
Notes to the Accounts
for the year ended 31 January 2023
Amounts falling due within one year
Accrued income and prepayments
19,500
-
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
11,458
Taxes and social security
10,847
6,703
Other creditors
27,264
(463)
Loans from directors
-
17,656
6
Creditors: amounts falling due after more than one year
2023
2022
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).