Company Registration No. NI654248 (Northern Ireland)
Inspire Loyalty Ltd
Unaudited accounts
for the year ended 31 July 2024
Inspire Loyalty Ltd
Statement of financial position
as at 31 July 2024
Intangible assets
29,583
-
Tangible assets
3,712
1,184
Cash at bank and in hand
35,379
104,404
Creditors: amounts falling due within one year
(13,763)
(21,797)
Net current assets
27,812
88,853
Called up share capital
1,000
1,000
Share premium
350,000
350,000
Profit and loss account
(289,893)
(260,963)
Shareholders' funds
61,107
90,037
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by
Steve Risk
Director
Company Registration No. NI654248
Inspire Loyalty Ltd
Notes to the Accounts
for the year ended 31 July 2024
Inspire Loyalty Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI654248. The registered office is Titanic Suites Belfast Ltd, Enterprise House, 55-59 Adelaide Street, Belfast, County Antrim, BT2 8FE, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the invoice value of consultancy services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide consultancy services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
The directors believe that the company Inspire Loyalty Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing-Balance
Fixtures & fittings
20% Reducing-Balance
Computer equipment
20% Reducing-Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inspire Loyalty Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
-
1,850
-
1,850
Additions
1,912
743
324
2,979
At 31 July 2024
1,912
2,593
324
4,829
At 1 August 2023
-
666
-
666
Charge for the year
32
419
-
451
At 31 July 2024
32
1,085
-
1,117
At 31 July 2024
1,880
1,508
324
3,712
At 31 July 2023
-
1,184
-
1,184
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,111
12,500
Taxes and social security
1,612
1,121
Loans from directors
766
161
Inspire Loyalty Ltd
Notes to the Accounts
for the year ended 31 July 2024
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).