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REGISTERED NUMBER: 08216411 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Inspired Exchange Ltd

Inspired Exchange Ltd (Registered number: 08216411)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inspired Exchange Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: Mrs C Rackham





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 08216411 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Inspired Exchange Ltd (Registered number: 08216411)

Balance Sheet
31st March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,020 -

CURRENT ASSETS
Debtors 5 97,129 23,778
Cash at bank 85,039 323,850
182,168 347,628
CREDITORS
Amounts falling due within one year 6 107,513 294,560
NET CURRENT ASSETS 74,655 53,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,675

53,068

CREDITORS
Amounts falling due after more than
one year

7

(24,739

)

(12,884

)

PROVISIONS FOR LIABILITIES 9 (5,324 ) -
NET ASSETS 72,612 40,184

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 11 72,608 40,180
SHAREHOLDERS' FUNDS 72,612 40,184

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Exchange Ltd (Registered number: 08216411)

Balance Sheet - continued
31st March 2024


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 director and authorised for issue on 10th July 2024 and were signed by:





Mrs C Rackham - Director


Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Inspired Exchange 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 37,360
At 31st March 2024 37,360
DEPRECIATION
Charge for year 9,340
At 31st March 2024 9,340
NET BOOK VALUE
At 31st March 2024 28,020

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 37,360
At 31st March 2024 37,360
DEPRECIATION
Charge for year 9,340
At 31st March 2024 9,340
NET BOOK VALUE
At 31st March 2024 28,020

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 97,039 23,778
Other debtors 90 -
97,129 23,778

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts (see note 8) 6,050 6,313
Hire purchase contracts 6,000 -
Trade creditors 73,454 224,988
Taxation and social security 22,009 5,054
Other creditors - 58,205
107,513 294,560

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans (see note 8) 7,249 12,884
Hire purchase contracts 17,490 -
24,739 12,884

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,050 6,313

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,249 6,313

Amounts falling due between two and five years:
Bank loans - 2-5 years - 6,571

9. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax 5,324 -

Deferred
tax
£   
Provided during year 5,324
Balance at 31st March 2024 5,324

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
2 Ordinary 1 2 2
1 Ordinary "A" 1 1 1
1 Ordinary "B" 1 1 1
4 4

Inspired Exchange Ltd (Registered number: 08216411)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

11. RESERVES
Retained
earnings
£   

At 1st April 2023 40,180
Profit for the year 50,428
Dividends (18,000 )
At 31st March 2024 72,608