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REGISTERED NUMBER: 11941399 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

INSPIRE PROPERTY PARTNERS LTD

INSPIRE PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSPIRE PROPERTY PARTNERS LTD

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: S Mercieca
N S Bentley
S D Brazil





REGISTERED OFFICE: 11 Warren Avenue
Oprington
Kent
BR6 6HX





REGISTERED NUMBER: 11941399 (England and Wales)





ACCOUNTANTS: Raymond Benn & Co Limited
Chartered Certified Accountants
1 Sheffield Road
Southborough
TUNBRIDGE WELLS
Kent
TN4 0PD

INSPIRE PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 490,175
Investments 5 - 2,481
Investment property 6 570,000 -
570,000 492,656

CURRENT ASSETS
Debtors 7 32,317 49,844
Cash at bank 854 892
33,171 50,736
CREDITORS
Amounts falling due within one year 8 (149,315 ) (161,579 )
NET CURRENT LIABILITIES (116,144 ) (110,843 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,856

381,813

CREDITORS
Amounts falling due after more than one
year

9

(376,969

)

(379,970

)

PROVISIONS FOR LIABILITIES (19,956 ) -
NET ASSETS 56,931 1,843

RESERVES
Income and expenditure account 56,931 1,843
56,931 1,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 surplus or deficit 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 PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)

BALANCE SHEET - continued
30 November 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 October 2024 and were signed on its behalf by:





S Mercieca - Director


INSPIRE PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Inspire Property Partners Ltd is a private company, limited by guarantee , 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income.

Tangible fixed assets
Property fixed assets have been reclassified as investment property with effect form 1 December 2022.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

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.

Limited by guarantee
The company is limited by guarantee.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

INSPIRE PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 December 2022 490,175
Reclassification/transfer (490,175 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 490,175

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022 2,481
Disposals (2,481 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 2,481

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 79,825
Reclassification/transfer 490,175
At 30 November 2023 570,000
NET BOOK VALUE
At 30 November 2023 570,000

Investment property is stated at directors' valuations.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 79,825
Cost 490,175
570,000

INSPIRE PROPERTY PARTNERS LTD (REGISTERED NUMBER: 11941399)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 490,175 -

Investment property was valued on an open market basis on 30 November 2023 by the directors. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Debtors - 1,452
Associated company 32,317 48,392
32,317 49,844

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax - 491
Other creditors 1,800 4,635
Directors' current accounts 147,515 156,453
149,315 161,579

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,001 -
Bank loans - 2-5 years 5,089 11,091
Mortgages 368,879 368,879
376,969 379,970

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 368,879 368,879

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 368,879 368,879