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REGISTERED NUMBER: 08274489 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st August 2023

for

Inspired Generation Limited

Inspired Generation Limited (Registered number: 08274489)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inspired Generation Limited

Company Information
for the Year Ended 31st August 2023







DIRECTORS: E C Watson
A R Watson





SECRETARIES: R J Southgate
Ms C Barter





REGISTERED OFFICE: St Mary's Church Hall
St Mary's Road
East Molesey
Surrey
KT8 0ST





REGISTERED NUMBER: 08274489 (England and Wales)





ACCOUNTANTS: Integrity Tax & Accountancy Solutions Ltd
May Cottage
Ashfield Road
Norton
Bury St Edmunds
Suffolk
IP31 3NF

Inspired Generation Limited (Registered number: 08274489)

Balance Sheet
31st August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,983 71,518

CURRENT ASSETS
Debtors 5 28,480 26,583
Cash at bank 647,119 510,893
675,599 537,476
CREDITORS
Amounts falling due within one year 6 268,522 245,960
NET CURRENT ASSETS 407,077 291,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

487,060

363,034

CREDITORS
Amounts falling due after more than one year 7 (242,278 ) (261,667 )

PROVISIONS FOR LIABILITIES (20,248 ) (17,724 )
NET ASSETS 224,534 83,643

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 223,534 82,643
SHAREHOLDERS' FUNDS 224,534 83,643

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 Generation Limited (Registered number: 08274489)

Balance Sheet - continued
31st August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th February 2024 and were signed on its behalf by:





E C Watson - Director


Inspired Generation Limited (Registered number: 08274489)

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

1. STATUTORY INFORMATION

Inspired Generation Limited 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 shown gross as the company is not registered for VAT. In accordance with VATA1994, schedule 9, group 6.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in line with the length of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Inspired Generation Limited (Registered number: 08274489)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st September 2022 406,216 90,207 120,635 40,879 657,937
Additions 2,286 11,423 10,650 3,099 27,458
At 31st August 2023 408,502 101,630 131,285 43,978 685,395
DEPRECIATION
At 1st September 2022 405,685 66,447 86,656 27,631 586,419
Charge for year 662 5,362 7,327 5,642 18,993
At 31st August 2023 406,347 71,809 93,983 33,273 605,412
NET BOOK VALUE
At 31st August 2023 2,155 29,821 37,302 10,705 79,983
At 31st August 2022 531 23,760 33,979 13,248 71,518

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 28,480 26,583

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts (see note 8) 20,000 20,000
Trade creditors 27,494 16,926
Taxation and social security 65,144 56,367
Other creditors 155,884 152,667
268,522 245,960

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 8) 41,667 61,667
Other creditors 200,611 200,000
242,278 261,667

Inspired Generation Limited (Registered number: 08274489)

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

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 20,000 20,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 41,667 61,667

The company has one term loan outstanding, which is a CBILS loan amounting to £61,667 (2022: £81,667). Included in creditors due after more than one year is an amount of £41,667 which is repayable by installments.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 26,784 26,303
Between one and five years 104,904 129,323
131,688 155,626

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 August 2023 the amount owed to Mrs E Watson a director and shareholder of the company was £100,622 (2022: £100,000). Interest is charged on the loans at 10%,which is considered to be market rate.