InspiredBy:Creative Solutions LTD 04643720 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Graphic design Digita Accounts Production Advanced 6.30.9574.0 true true 04643720 2023-02-01 2024-01-31 04643720 2024-01-31 04643720 bus:OrdinaryShareClass1 2024-01-31 04643720 core:RetainedEarningsAccumulatedLosses 2024-01-31 04643720 core:ShareCapital 2024-01-31 04643720 core:CurrentFinancialInstruments 2024-01-31 04643720 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04643720 core:Non-currentFinancialInstruments 2024-01-31 04643720 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 04643720 core:FurnitureFittingsToolsEquipment 2024-01-31 04643720 core:OtherPropertyPlantEquipment 2024-01-31 04643720 bus:SmallEntities 2023-02-01 2024-01-31 04643720 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04643720 bus:FilletedAccounts 2023-02-01 2024-01-31 04643720 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04643720 bus:RegisteredOffice 2023-02-01 2024-01-31 04643720 bus:Director1 2023-02-01 2024-01-31 04643720 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 04643720 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04643720 core:FurnitureFittings 2023-02-01 2024-01-31 04643720 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 04643720 core:OfficeEquipment 2023-02-01 2024-01-31 04643720 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 04643720 core:PlantMachinery 2023-02-01 2024-01-31 04643720 countries:England 2023-02-01 2024-01-31 04643720 2023-01-31 04643720 core:FurnitureFittingsToolsEquipment 2023-01-31 04643720 core:OtherPropertyPlantEquipment 2023-01-31 04643720 2022-02-01 2023-01-31 04643720 2023-01-31 04643720 bus:OrdinaryShareClass1 2023-01-31 04643720 core:RetainedEarningsAccumulatedLosses 2023-01-31 04643720 core:ShareCapital 2023-01-31 04643720 core:CurrentFinancialInstruments 2023-01-31 04643720 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04643720 core:Non-currentFinancialInstruments 2023-01-31 04643720 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 04643720 core:FurnitureFittingsToolsEquipment 2023-01-31 04643720 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04643720

InspiredBy:Creative Solutions LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

InspiredBy:Creative Solutions LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

InspiredBy:Creative Solutions LTD

Company Information

Director

Mr Andrew Stoneman

Registered office

5 Red Hall Court
Leeds
West Yorkshire
LS14 1EL

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Garforth, Leeds
Leeds
LS25 1NB

 

InspiredBy:Creative Solutions LTD

(Registration number: 04643720)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,053

58

Current assets

 

Debtors

17,022

8,604

Cash at bank and in hand

 

8,641

8,537

 

25,663

17,141

Creditors: Amounts falling due within one year

(15,944)

(10,338)

Net current assets

 

9,719

6,803

Total assets less current liabilities

 

13,772

6,861

Creditors: Amounts falling due after more than one year

(4,998)

(6,761)

Net assets

 

8,774

100

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

8,674

-

Shareholders' funds

 

8,774

100

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

InspiredBy:Creative Solutions LTD

(Registration number: 04643720)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 11 September 2024
 

.........................................

Mr Andrew Stoneman
Director

 

InspiredBy:Creative Solutions LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Red Hall Court
Leeds
West Yorkshire
LS14 1EL

These financial statements were authorised for issue by the director on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

InspiredBy:Creative Solutions LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% Reducing Balance

Plant & Machinery

20% Reducing Balance

Office Equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

InspiredBy:Creative Solutions LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

InspiredBy:Creative Solutions LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

7,585

949

8,534

Additions

-

5,009

5,009

At 31 January 2024

7,585

5,958

13,543

Depreciation

At 1 February 2023

7,573

903

8,476

Charge for the year

3

1,011

1,014

At 31 January 2024

7,576

1,914

9,490

Carrying amount

At 31 January 2024

9

4,044

4,053

At 31 January 2023

12

46

58

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,998

6,761