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REGISTERED NUMBER: 03516701 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Inspexx Ltd

Inspexx Ltd (Registered number: 03516701)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Inspexx Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G L Sampson
A Cowley
Mrs G Cowley





REGISTERED OFFICE: 300 Leeds Road
Shipley
Bradford
West Yorkshire
BD18 1EZ





REGISTERED NUMBER: 03516701 (England and Wales)





ACCOUNTANTS: DWilkinson&Company
Bank House
27 King Street
Leeds
West Yorkshire
LS1 2HL

Inspexx Ltd (Registered number: 03516701)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 242,813 204,952

CURRENT ASSETS
Debtors 5 181,654 265,823
Cash at bank and in hand 379,421 278,227
561,075 544,050
CREDITORS
Amounts falling due within one year 6 189,063 210,839
NET CURRENT ASSETS 372,012 333,211
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,825

538,163

PROVISIONS FOR LIABILITIES 7 12,051 12,531
NET ASSETS 602,774 525,632

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 602,773 525,631
SHAREHOLDERS' FUNDS 602,774 525,632

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Inspexx Ltd (Registered number: 03516701)

Balance Sheet - continued
31 December 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





A Cowley - Director


Inspexx Ltd (Registered number: 03516701)

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

1. STATUTORY INFORMATION

Inspexx 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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Inspexx Ltd (Registered number: 03516701)

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

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 152,831 5,577 87,758 12,230 258,396
Additions 34,614 814 44,250 3,390 83,068
Disposals - - (18,371 ) - (18,371 )
At 31 December 2023 187,445 6,391 113,637 15,620 323,093
DEPRECIATION
At 1 January 2023 3,066 3,511 37,823 9,044 53,444
Charge for year 4,994 432 18,953 2,457 26,836
At 31 December 2023 8,060 3,943 56,776 11,501 80,280
NET BOOK VALUE
At 31 December 2023 179,385 2,448 56,861 4,119 242,813
At 31 December 2022 149,765 2,066 49,935 3,186 204,952

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 140,967 225,916
Other debtors 33,990 33,990
Prepayments 6,697 5,917
181,654 265,823

Inspexx Ltd (Registered number: 03516701)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 23,090 21,936
Tax 22,979 -
VAT 57,708 81,654
Other creditors 3,496 1,632
Directors' current accounts 30,255 37,505
Accrued expenses 51,535 68,112
189,063 210,839

Loans from directors are interest free and repayable on demand.

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 12,051 12,531

Deferred
tax
£   
Balance at 1 January 2023 12,531
Accelerated capital allowances (480 )
Balance at 31 December 2023 12,051

The entire provision of deferred tax is relating to accelerated capital allowances.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary shares £1.00 1 1