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REGISTERED NUMBER: 13002750 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Inspire Properties (Cambridge) Limited

Inspire Properties (Cambridge) Limited (Registered number: 13002750)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inspire Properties (Cambridge) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: S J Carter
K H Tomlinson





REGISTERED OFFICE: 9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 13002750 (England and Wales)





ACCOUNTANTS: Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF

Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 720,000 720,000

CURRENT ASSETS
Debtors 5 31,817 20,629
Cash at bank 814 419
32,631 21,048
CREDITORS
Amounts falling due within one year 6 269,480 516,878
NET CURRENT LIABILITIES (236,849 ) (495,830 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,151

224,170

CREDITORS
Amounts falling due after more than one
year

7

573,412

300,000
NET LIABILITIES (90,261 ) (75,830 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 (56,027 ) (56,027 )
Retained earnings (34,334 ) (19,903 )
SHAREHOLDERS' FUNDS (90,261 ) (75,830 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Balance Sheet - continued
30 November 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 20 August 2024 and were signed on its behalf by:





S J Carter - Director


Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Inspire Properties (Cambridge) 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 as modified by the revaluation of certain assets.

Turnover
Revenue from operating leases is recognised on a straight-line basis over the lease term. The aggregate cost of any lease incentives provided is recognised as a reduction to the revenue recognised on a straight-line basis.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date and changes in fair value are recognised in profit or loss.

In order to ascertain the fair value at each reporting date, investment properties have been valued using an open market valuation on a freehold basis subject to the existing tenancies. Revaluations are conducted annually by the directors.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument, unless exempt from such treatment.

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.


Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 720,000
NET BOOK VALUE
At 30 November 2023 720,000
At 30 November 2022 720,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2022 (69,169 )
Cost 789,169
720,000

The last valuation of investment properties was made by the directors on 30 November 2023.

5. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 2,304 1,311
Other debtors 8,317 1,507
10,621 2,818

Amounts falling due after more than one year:
Other debtors 21,196 17,811

Aggregate amounts 31,817 20,629

Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. DEBTORS - continued

Deferred tax asset
30.11.23 30.11.22
£    £   
Tax losses carried forward 8,054 4,669
Other timing differences 13,142 13,142
21,196 17,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 210 593
Amounts owed to joint ventures 211,677 301,329
Other creditors 57,593 214,956
269,480 516,878

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 488,412 -
Other creditors 85,000 300,000
573,412 300,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 488,412 -

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 488,412 -
Other loans 85,000 300,000
573,412 300,000

The loans are secured by a charges over the company's investment property.

9. DEFERRED TAX
£   
Balance at 1 December 2022 (17,811 )
Credit to Income Statement during year (3,385 )
Balance at 30 November 2023 (21,196 )

Inspire Properties (Cambridge) Limited (Registered number: 13002750)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 (56,027 )

12. RELATED PARTY DISCLOSURES

Included in creditors at the year end are interest free loans from the company's controlling parties and directors totalling £253,589 (2022: £341,940).