Registered number
11191435
Inspirata Europe Limited
Filleted Accounts
28 February 2024
Inspirata Europe Limited
Registered number: 11191435
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - -
- -
Current assets
Debtors 4 671 127,490
Cash at bank and in hand 4 10,044
675 137,534
Creditors: amounts falling due within one year 5 - (15,491)
Net current assets 675 122,043
Total assets less current liabilities 675 122,043
Creditors: amounts falling due after more than one year 6 - (3,478,871)
Net assets/(liabilities) 675 (3,356,828)
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account (49,325) (3,406,828)
Shareholders' funds 675 (3,356,828)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Satish Sanan
Director
Approved by the board on 27 November 2024
Inspirata Europe Limited
Notes to the Accounts
for the year ended 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Machinery & computer equipment over 5 years
Office equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period..
Going Concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Machinery & Computer equipment Office equipment Total
£ £ £ £
Cost
At 1 March 2023 - - - -
Additions - - - -
Disposals - - - -
At 28 February 2024 - - - -
Depreciation
At 1 March 2023 - - - -
Charge for the year - - - -
On disposals - - - -
At 28 February 2024 - - - -
Net book value
At 28 February 2024 - - - -
At 28 February 2023 - - - -
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 126,377
Other debtors 671 1,113
671 127,490
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - -
Other creditors - 15,491
- 15,491
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 32,499
Intercompany loan - 3,446,372
- 3,478,871
7 Related party transactions
At the year end, the intercompany balance due to Inspirata Ltd was £nil
8 Other information
Inspirata Europe Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lyndum House
12 High Street
Petersfield
England
GU32 3JG
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