2022-04-01 SC581796 2023-03-31 SC581796 2022-04-01 2023-03-31 SC581796 2022-03-31 SC581796 2021-04-01 2022-03-31 SC581796 uk-core:WithinOneYear 2022-03-31 SC581796 uk-core:WithinOneYear 2023-03-31 SC581796 uk-core:AfterOneYear 2022-03-31 SC581796 uk-core:AfterOneYear 2023-03-31 SC581796 uk-core:ShareCapital 2023-03-31 SC581796 uk-core:ShareCapital 2022-03-31 SC581796 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC581796 uk-core:RetainedEarningsAccumulatedLosses 2022-03-31 SC581796 uk-bus:Director1 2022-04-01 2023-03-31 SC581796 uk-bus:Director2 2022-04-01 2023-03-31 SC581796 uk-core:LeaseholdImprovements 2022-04-01 2023-03-31 SC581796 uk-core:FurnitureFittings 2022-04-01 2023-03-31 SC581796 uk-core:FurnitureFittings 2022-03-31 SC581796 uk-core:LeaseholdImprovements 2022-03-31 SC581796 uk-core:LeaseholdImprovements 2023-03-31 SC581796 uk-core:FurnitureFittings 2023-03-31 SC581796 uk-core:WithinOneYear 2023-03-31 SC581796 uk-core:WithinOneYear 2022-03-31 SC581796 uk-core:AfterOneYear uk-core:Secured 2023-03-31 SC581796 uk-core:AfterOneYear uk-core:Secured 2022-03-31 iso4217:GBP xbrli:pure SC581796 uk-bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC581796 uk-bus:FRS102 2022-04-01 2023-03-31 SC581796 uk-bus:FullAccounts 2022-04-01 2023-03-31 SC581796 uk-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Inspired Flooring Ltd
Registered Number:SC581796
For the year ended 31 March 2023
Scotland
Unaudited Financial Statements
2
For the year ended 31 March 2023
Inspired Flooring Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
SC581796
As at 31 March 2023
Inspired Flooring Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
1,237
3,434
2
1,237
3,434
Current assets
Inventories
41,000
82,818
3
Trade and other receivables
22,630
16,777
4
68,307
Cash and cash equivalents
30,615
130,210
131,937
Trade and other payables: amounts falling due within one
year
(64,992)
(66,975)
5
66,945
63,235
Net current assets
Total assets less current liabilities
64,472
70,379
Trade and other payables: amounts falling due after more
than one year
(31,488)
(21,707)
6
42,765
Net assets
38,891
Capital and reserves
Called up share capital
100
100
Retained earnings
42,665
38,791
42,765
38,891
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
SC581796
For the year ended 31 March 2023
Inspired Flooring Ltd
Statement of Financial Position Continued
Liam McGarry Director
Gregg Watson Director
These financial statements were approved and authorised for issue by the Board on 12 September 2023 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2023
Inspired Flooring Ltd
Notes to the Financial Statements
Statutory Information
Inspired Flooring Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number
SC581796.
Registered address:
193-195 Brandon Street
Motherwell
ML1 1RS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Improvements
20% Straight line
25% Reducing balance
Fixtures and Fittings
2. Property, plant and equipment
Total
Fixtures and
Fittings
Leasehold
Improvements
£
£
£
Cost or
valuation
At 01 April 2022
13,832
4,913
8,919
At 31 March 2023
8,919
4,913
13,832
Provision for depreciation and impairment
At 01 April 2022
10,398
3,262
7,136
Charge for year
2,197
413
1,784
At 31 March 2023
12,595
3,675
8,920
At 31 March 2023
Net book value
(1)
1,238
1,237
At 31 March 2022
1,783
1,651
3,434
3. Inventories
2022
2023
£
£
Stocks
82,818
41,000
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6
For the year ended 31 March 2023
Inspired Flooring Ltd
Notes to the Financial Statements Continued
4. Trade and other receivables
2022
2023
£
£
Trade debtors
4,970
14,944
Other debtors
11,807
7,686
22,630
16,777
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
10,068
10,285
Trade creditors
47,246
42,728
Taxation and social security
9,409
5,953
Other creditors
252
6,026
66,975
64,992
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
21,707
31,488
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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