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REGISTERED NUMBER: 11949864 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

INSPIRED LIFESTYLES LTD

INSPIRED LIFESTYLES LTD (REGISTERED NUMBER: 11949864)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSPIRED LIFESTYLES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C R Verhagen
H J R Verhagen





REGISTERED OFFICE: Ground Floor
Finchale House
Belmont Business Park
Durham
DH1 1TW





REGISTERED NUMBER: 11949864 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

INSPIRED LIFESTYLES LTD (REGISTERED NUMBER: 11949864)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investment property 5 50,000 40,000
50,000 40,000

CURRENT ASSETS
Debtors 6 172 172
Cash at bank 96 330
268 502
CREDITORS
Amounts falling due within one year 7 66,312 68,082
NET CURRENT LIABILITIES (66,044 ) (67,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,044

)

(27,580

)

PROVISIONS FOR LIABILITIES 8 1,478 1,897
NET LIABILITIES (17,522 ) (29,477 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (17,622 ) (29,577 )
SHAREHOLDERS' FUNDS (17,522 ) (29,477 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 LIFESTYLES LTD (REGISTERED NUMBER: 11949864)

BALANCE SHEET - continued
30 APRIL 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 4 October 2023 and were signed on its behalf by:





H J R Verhagen - Director


INSPIRED LIFESTYLES LTD (REGISTERED NUMBER: 11949864)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Inspired Lifestyles 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

INSPIRED LIFESTYLES LTD (REGISTERED NUMBER: 11949864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2022
and 30 April 2023 21,014
AMORTISATION
At 1 May 2022
and 30 April 2023 21,014
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 40,000
Revaluations 10,000
At 30 April 2023 50,000
NET BOOK VALUE
At 30 April 2023 50,000
At 30 April 2022 40,000

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 50,000

If the Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 32,412 32,412

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 172 172

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 66,312 68,082

INSPIRED LIFESTYLES LTD (REGISTERED NUMBER: 11949864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,478 1,897

Deferred
tax
£   
Balance at 1 May 2022 1,897
Deferred tax charge on
value change of investment
property (419 )
Balance at 30 April 2023 1,478

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

During the year the directors maintained an interest free loan to the company. At the balance sheet date the amount outstanding was £64,890 (2022: £66,660).