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Inspire Green Ltd

Registered Number
08057676
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Inspire Green Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

POWELL, Damien Lawson
POWELL, Joshua Lloyd
POWELL, Simon Lloyd

Registered Address

Abacus House
Caxton Place
Cardiff
CF23 8HA

Registered Number

08057676 (England and Wales)
Inspire Green Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets329,858481
29,858481
Current assets
Debtors57,6327,913
Cash at bank and on hand19,47314,180
77,10522,093
Creditors amounts falling due within one year4(276,021)(78,039)
Net current assets (liabilities)(198,916)(55,946)
Total assets less current liabilities(169,058)(55,465)
Creditors amounts falling due after one year5(19,500)-
Net assets(188,558)(55,465)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(189,558)(56,465)
Shareholders' funds(188,558)(55,465)
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
POWELL, Simon Lloyd
Director
Registered Company No. 08057676
Inspire Green Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company has net liabilities of £188,558 (2022: £55,465). The board believes that the company has the support of its directors and investors, as such the going concern basis remains appropriate.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Revenue from the provision of services is recognised over the period to which they relate.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year51
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 23--5,5165,516
Additions6,29026,000-32,290
At 31 December 236,29026,0005,51637,806
Depreciation and impairment
At 01 January 23--5,0355,035
Charge for year5782,1671682,913
At 31 December 235782,1675,2037,948
Net book value
At 31 December 235,71223,83331329,858
At 31 December 22--481481
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables126,54011,313
Taxation and social security44,4132,763
Finance lease and HP contracts5,200-
Other creditors96,86757,294
Accrued liabilities and deferred income3,0016,669
Total276,02178,039
5.Creditors: amounts due after one year

2023

2022

££
Other creditors19,500-
Total19,500-
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts19,500-