Company Registration No. 06873550 (England and Wales)
INSPIRA DIGITAL LIMITED
Unaudited accounts
for the year ended 30 April 2023
INSPIRA DIGITAL LIMITED
Unaudited accounts
Contents
INSPIRA DIGITAL LIMITED
Company Information
for the year ended 30 April 2023
Directors
Luke Andrew Green
Michael Robert Harding
Company Number
06873550 (England and Wales)
Registered Office
1 UPCOTT AVENUE
POTTINGTON BUSINESS PARK
BARNSTAPLE
DEVON
EX31 1HN
Accountants
B4Bookkeeping Ltd
1 Lincoln House
Tangmere
Chichester
West Sussex
PO20 2FS
INSPIRA DIGITAL LIMITED
Accountants' report
Accountants' report to the board of directors of INSPIRA DIGITAL LIMITED on the preparation of the unaudited statutory accounts for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
INSPIRA DIGITAL LIMITED for the year ended
30 April 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of INSPIRA DIGITAL LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of INSPIRA DIGITAL LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than INSPIRA DIGITAL LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that INSPIRA DIGITAL LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of INSPIRA DIGITAL LIMITED. You consider that INSPIRA DIGITAL LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of INSPIRA DIGITAL LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
B4Bookkeeping Ltd
1 Lincoln House
Tangmere
Chichester
West Sussex
PO20 2FS
19 October 2023
INSPIRA DIGITAL LIMITED
Statement of financial position
as at 30 April 2023
Intangible assets
20,200
20,200
Cash at bank and in hand
104,558
48,685
Creditors: amounts falling due within one year
(100,153)
(77,244)
Net current assets
210,490
138,564
Total assets less current liabilities
230,690
159,402
Creditors: amounts falling due after more than one year
(61,793)
(33,489)
Net assets
168,897
125,913
Called up share capital
2
2
Profit and loss account
168,895
125,911
Shareholders' funds
168,897
125,913
For the year ending 30 April 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 19 October 2023 and were signed on its behalf by
Michael Robert Harding
Director
Company Registration No. 06873550
INSPIRA DIGITAL LIMITED
Notes to the Accounts
for the year ended 30 April 2023
INSPIRA DIGITAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06873550. The registered office is 1 UPCOTT AVENUE, POTTINGTON BUSINESS PARK, BARNSTAPLE, DEVON, EX31 1HN.
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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost.
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is not currently amortised as the directors believe that the actual value far exceeds this amount.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
50% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
No provision for deferred taxation has been made in the accounts since, in the opinion of the directors, no material timing differences will arise in the foreseeable future.
Expenditure on research and development is written off in the year in which it is incurred.
INSPIRA DIGITAL LIMITED
Notes to the Accounts
for the year ended 30 April 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
During the year the company received Coronavirus Job Retention Scheme grants due to the Covid-19 pandemic and this is accounted for under the accruals model.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Computer equipment
INSPIRA DIGITAL LIMITED
Notes to the Accounts
for the year ended 30 April 2023
Amounts falling due within one year
Trade debtors
195,748
152,121
Accrued income and prepayments
3,021
1,393
Other debtors
7,316
11,988
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
22,412
23,649
Trade creditors
5,531
5,031
Taxes and social security
6,100
4,881
Other creditors
1,333
2,052
Loans from directors
4,468
-
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 11 (2022: 10).