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REGISTERED NUMBER: 08216411 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Inspired Exchange Ltd

Inspired Exchange Ltd (Registered number: 08216411)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inspired Exchange Ltd

Company Information
for the Year Ended 31st March 2023







DIRECTORS: Mr M Corck
Mrs M B Healy





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 08216411 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Inspired Exchange Ltd (Registered number: 08216411)

Balance Sheet
31st March 2023

31/3/23 31/3/22
Notes £    £   
CURRENT ASSETS
Debtors 4 23,778 28,225
Cash at bank 323,850 150,455
347,628 178,680
CREDITORS
Amounts falling due within one year 5 294,560 58,482
NET CURRENT ASSETS 53,068 120,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,068

120,198

CREDITORS
Amounts falling due after more than
one year

6

12,884

18,639
NET ASSETS 40,184 101,559

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 9 40,180 101,555
SHAREHOLDERS' FUNDS 40,184 101,559

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

Inspired Exchange Ltd (Registered number: 08216411)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25th July 2023 and were signed on its behalf by:





Mrs M B Healy - Director


Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Inspired Exchange 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

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 1 (2022 - 2 ) .

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 23,778 28,225

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts (see note 7) 6,313 6,313
Trade creditors 224,988 21,265
Taxation and social security 5,054 10,893
Other creditors 58,205 20,011
294,560 58,482

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans (see note 7) 12,884 18,639

7. LOANS

An analysis of the maturity of loans is given below:

31/3/23 31/3/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,313 6,313

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,313 6,313

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,571 12,326

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
2 Ordinary 1 2 2
1 Ordinary "A" 1 1 1
1 Ordinary "B" 1 1 1
4 4

9. RESERVES
Retained
earnings
£   

At 1st April 2022 101,555
Deficit for the year (18,175 )
Dividends (43,200 )
At 31st March 2023 40,180