Company registration number 03766988 (England and Wales)
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Airport House (Suite 115)
Croydon
Surrey
United Kingdom
CR0 0XZ
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
COMPANY INFORMATION
- 1 -
Directors
L S J Hoefkens
N Appleby
Company number
03766988
Registered office
The Tiding
18 Salterns Way
Lilliput
Poole
Dorset
United Kingdom
BH14 8JR
Accountants
TC Group
Airport House (Suite 115)
Croydon
Surrey
United Kingdom
CR0 0XZ
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
34,378
32,993
Cash at bank and in hand
10,555
8,186
44,933
41,179
Creditors: amounts falling due within one year
4
(20,948)
(16,235)
Net current assets
23,985
24,944
Creditors: amounts falling due after more than one year
5
(13,774)
(15,978)
Net assets
10,211
8,966
Capital and reserves
Called up share capital
6
6
Profit and loss reserves
10,205
8,960
Total equity
10,211
8,966

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

INSPIRED SOLUTIONS (SOFTWARE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 17 July 2024 and are signed on its behalf by:
N Appleby
Director
Company Registration No. 03766988
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2022
6
7,266
7,272
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
4,444
4,444
Dividends
-
(2,750)
(2,750)
Balance at 31 December 2022
6
8,960
8,966
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
11,195
11,195
Dividends
-
(9,950)
(9,950)
Balance at 31 December 2023
6
10,205
10,211
INSPIRED SOLUTIONS (SOFTWARE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
1
Accounting policies
Company information

Inspired Solutions (Software) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Tiding, 18 Salterns Way, Lilliput, Poole, Dorset, United Kingdom, BH14 8JR.

1.1
Reporting period

These financial statements are for a period of 12 months whereas the comparative figures are for a period of 9 months. As a result, the prior period figures are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Inspired Solutions (Software) Limited is a subsidiary of Mersey Holdings AG, a company domiciled in Liechtenstein and the results of Inspired Solutions (Software) Limited are included in the consolidated financial statements of Mersey Holdings AG

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

1.4
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 current liabilities.

INSPIRED SOLUTIONS (SOFTWARE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

INSPIRED SOLUTIONS (SOFTWARE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,940
-
0
Amounts owed by group undertakings
17,730
17,510
Other debtors
4,708
15,483
34,378
32,993
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,254
2,270
Taxation and social security
4,366
3,120
Other creditors
14,328
10,845
20,948
16,235
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
13,774
15,978
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