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Company No: 12824277 (England and Wales)

INSHORE LIVING LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

INSHORE LIVING LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

INSHORE LIVING LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2023
INSHORE LIVING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2023
2023 2022
£ £
Current assets
Debtors 3 4,511 2
Cash at bank and in hand 6,314 0
10,825 2
Creditors: amounts falling due within one year 4 ( 3,494) 0
Net current assets 7,331 2
Total assets less current liabilities 7,331 2
Net assets 7,331 2
Capital and reserves
Called-up share capital 2 2
Profit and loss account 7,329 0
Total shareholders' funds 7,331 2

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Inshore Living Ltd (registered number: 12824277) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N Howard
Director
A D Loane
Director

22 August 2024

INSHORE LIVING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
INSHORE LIVING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Inshore Living Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20 Louise Cottages Lynn Road, West Newton, King's Lynn, PE31 6AT, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Trade debtors 4,511 0
Other debtors 0 2
4,511 2

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 275 0
Accruals 1,500 0
Corporation tax 1,719 0
3,494 0