Inspired Leisure Limited 11152601 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Hotel Digita Accounts Production Advanced 6.30.9574.0 true true 11152601 2023-02-01 2024-01-31 11152601 2024-01-31 11152601 bus:OrdinaryShareClass1 2024-01-31 11152601 core:RetainedEarningsAccumulatedLosses 2024-01-31 11152601 core:ShareCapital 2024-01-31 11152601 core:CurrentFinancialInstruments 2024-01-31 11152601 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 11152601 core:Non-currentFinancialInstruments 2024-01-31 11152601 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 11152601 bus:SmallEntities 2023-02-01 2024-01-31 11152601 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11152601 bus:FullAccounts 2023-02-01 2024-01-31 11152601 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11152601 bus:RegisteredOffice 2023-02-01 2024-01-31 11152601 bus:Director2 2023-02-01 2024-01-31 11152601 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 11152601 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11152601 core:OtherRelatedParties 2023-02-01 2024-01-31 11152601 countries:England 2023-02-01 2024-01-31 11152601 2022-02-01 2023-01-31 11152601 2023-01-31 11152601 bus:OrdinaryShareClass1 2023-01-31 11152601 core:RetainedEarningsAccumulatedLosses 2023-01-31 11152601 core:ShareCapital 2023-01-31 11152601 core:CurrentFinancialInstruments 2023-01-31 11152601 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11152601 core:Non-currentFinancialInstruments 2023-01-31 11152601 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11152601

Inspired Leisure Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Inspired Leisure Limited

(Registration number: 11152601)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Stocks

12,965

11,086

Debtors

4

25,200

28,271

Cash at bank and in hand

 

111,542

198,108

 

149,707

237,465

Creditors: Amounts falling due within one year

5

(231,790)

(332,532)

Total assets less current liabilities

 

(82,083)

(95,067)

Creditors: Amounts falling due after more than one year

5

(38,547)

(45,789)

Net liabilities

 

(120,630)

(140,856)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(120,730)

(140,956)

Shareholders' deficit

 

(120,630)

(140,856)

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 


Mr M D Rogalski
Director

   
 

Inspired Leisure Limited

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:
RNS Chartered Accountants
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 11152601

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 which assumes the continued support of companies that are under common control.

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.

Government grants

Grant income relating to revenue is recognised on an accrual basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future related costs, is recognised as income in the period in which it becomes receivable.

 

Inspired Leisure Limited

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

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 services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less a 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 at the transaction price.

Borrowings

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.

 

Inspired Leisure Limited

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

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 directors) during the year was 42 (2023 - 30).

4

Debtors

2024
£

2023
£

Trade debtors

8,459

7,920

Other debtors

16,741

20,351

 

25,200

28,271

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

7,260

4,840

Trade creditors

 

18,935

34,122

Social security and other taxes

 

31,869

42,475

Other creditors

 

173,726

251,095

 

231,790

332,532

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

38,547

45,789

 

Inspired Leisure Limited

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

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

7,260

4,840

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

38,547

45,789

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

At the balance sheet date £92,341 (2023 - £226,841) was due to and £16,643 (2023 - £253) due from companies under common control.