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REGISTERED NUMBER: 11217331 (England and Wales)















Inspired Schools Limited

Unaudited Financial Statements

for the Year Ended 31 August 2023






Inspired Schools Limited (Registered number: 11217331)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Inspired Schools Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M D Holmes
B R Kirk



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 11217331 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP

Inspired Schools Limited (Registered number: 11217331)

Abridged Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 3,082
Tangible assets 6 557 1,324
557 4,406

CURRENT ASSETS
Debtors 9,657 64,600
Cash at bank 214,419 33,338
224,076 97,938
CREDITORS
Amounts falling due within one year 132,431 62,497
NET CURRENT ASSETS 91,645 35,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,202

39,847

CREDITORS
Amounts falling due after more than one year 7 32,397 37,953
NET ASSETS 59,805 1,894

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,705 1,794
SHAREHOLDERS' FUNDS 59,805 1,894

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Schools Limited (Registered number: 11217331)

Abridged Statement of Financial Position - continued
31 August 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:




M D Holmes - Director



B R Kirk - Director


Inspired Schools Limited (Registered number: 11217331)

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

1. STATUTORY INFORMATION

Inspired Schools 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Statement of Comprehensive Income, following an assessment at the Statement of Financial Position date indicating the recoverable amount was less than its carrying value.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Inspired Schools Limited (Registered number: 11217331)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 5,236
Impairments (3,082 )
At 31 August 2023 2,154
AMORTISATION
At 1 September 2022
and 31 August 2023 2,154
NET BOOK VALUE

At 31 August 2023 -
At 31 August 2022 3,082

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 2,323
DEPRECIATION
At 1 September 2022 999
Charge for year 767
At 31 August 2023 1,766
NET BOOK VALUE
At 31 August 2023 557
At 31 August 2022 1,324

Inspired Schools Limited (Registered number: 11217331)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.8.23 31.8.22
£    £   
Repayable by instalments
Bank loans 10,144 15,700

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 15,564 15,564
Between one and five years 10,409 25,973
25,973 41,537

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 37,960 43,516

The bank loan is a government backed bounce back loan.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 August 2023 and the period ended 31 August 2022:

31.8.23 31.8.22
£    £   
M D Holmes
Balance outstanding at start of year 24,476 13,466
Amounts repaid (73,969 ) (33,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,096 ) 24,476

B R Kirk
Balance outstanding at start of year 29,624 27,581
Amounts repaid (70,392 ) (28,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,575 ) 29,624