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REGISTERED NUMBER: 09011058 (England and Wales)















INSPIRE HOME & BUSINESS GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






INSPIRE HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSPIRE HOME & BUSINESS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S P Curtis
Mrs S J Curtis





REGISTERED OFFICE: 6 Little Court
Manteo Way
Bideford
DEVON
EX39 4FG





REGISTERED NUMBER: 09011058 (England and Wales)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

INSPIRE HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 800 1,000
Tangible assets 5 85,323 118,015
86,123 119,015

CURRENT ASSETS
Stocks 500 2,000
Debtors 6 12,984 13,087
Cash at bank 15,784 19,929
29,268 35,016
CREDITORS
Amounts falling due within one year 7 (185,536 ) (119,038 )
NET CURRENT LIABILITIES (156,268 ) (84,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(70,145

)

34,993

CREDITORS
Amounts falling due after more than one
year

8

(23,943

)

(34,776

)
NET (LIABILITIES)/ASSETS (94,088 ) 217

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (94,090 ) 215
SHAREHOLDERS' FUNDS (94,088 ) 217

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)

BALANCE SHEET - continued
30 JUNE 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 23 September 2024 and were signed on its behalf by:





S P Curtis - Director


INSPIRE HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Inspire Home & Business Group 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

INSPIRE HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 2,000
AMORTISATION
At 1 July 2022 1,000
Charge for year 200
At 30 June 2023 1,200
NET BOOK VALUE
At 30 June 2023 800
At 30 June 2022 1,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2022 116,340 54,755 171,095
Additions 2,951 - 2,951
Disposals (14,734 ) - (14,734 )
At 30 June 2023 104,557 54,755 159,312
DEPRECIATION
At 1 July 2022 37,131 15,949 53,080
Charge for year 23,747 3,881 27,628
Eliminated on disposal (6,719 ) - (6,719 )
At 30 June 2023 54,159 19,830 73,989
NET BOOK VALUE
At 30 June 2023 50,398 34,925 85,323
At 30 June 2022 79,209 38,806 118,015

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 65
Other debtors 12,984 6,766
Directors' current accounts - 6,256
12,984 13,087

INSPIRE HOME & BUSINESS GROUP LTD (REGISTERED NUMBER: 09011058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 503 15,669
Tax 2,484 2,033
Social security and other taxes 9,280 825
VAT 134,832 87,002
Other creditors 6,857 -
Directors' current accounts 15,510 -
Accrued expenses 6,070 3,509
185,536 119,038

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,943 24,776
23,943 34,776

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
S P Curtis
Balance outstanding at start of year 6,256 7,607
Amounts advanced 76,167 -
Amounts repaid (97,933 ) (1,351 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,510 ) 6,256

Loan fully repaid in the year.