1 February 2022 false Taxfiler 2023.9 true 08834469business:PrivateLimitedCompanyLtd2022-02-012023-01-31 088344692022-01-31 088344692022-02-012023-01-31 08834469business:AuditExemptWithAccountantsReport2022-02-012023-01-31 08834469business:FilletedAccounts2022-02-012023-01-31 088344692023-01-31 08834469business:Director12022-02-012023-01-31 08834469business:Director22022-02-012023-01-31 08834469business:Director32022-02-012023-01-31 08834469business:RegisteredOffice2022-02-012023-01-31 088344692022-01-31 08834469core:WithinOneYear2023-01-31 08834469core:WithinOneYear2022-01-31 08834469core:AfterOneYear2023-01-31 08834469core:AfterOneYear2022-01-31 08834469core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 08834469core:ShareCapitalcore:PreviouslyStatedAmount2022-01-31 08834469core:SharePremiumcore:PreviouslyStatedAmount2023-01-31 08834469core:SharePremiumcore:PreviouslyStatedAmount2022-01-31 08834469core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 08834469core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-01-31 08834469core:PreviouslyStatedAmount2023-01-31 08834469core:PreviouslyStatedAmount2022-01-31 08834469business:SmallEntities2022-02-012023-01-31 08834469countries:EnglandWales2022-02-012023-01-31 088344692021-02-012022-01-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
INSPIRED VENTURES LIMITED Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
22,659 
9,567 
Cash at bank and in hand
3,250 
(32,701)
25,909 
(23,134)
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)
Capital and reserves
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
- 4 -
INSPIRED VENTURES LIMITED Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Foreign exchange
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.
Going concern
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.
- 5 -
INSPIRED VENTURES LIMITED Notes to the Accounts for the year ended 31 January 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,159 
2,526 
Trade debtors
- 
7,041 
Accrued income and prepayments
19,500 
- 
22,659 
9,567 
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 
38,111 
35,354 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
39,011 
49,585 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 6 -