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REGISTERED NUMBER: 02914400 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Inspiration Limited

Inspiration Limited (Registered number: 02914400)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Inspiration Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S J Rees





SECRETARY: S J Rees





REGISTERED OFFICE: Phoenix Way
Garngoch Industrial Estat
Swansea
SA4 9WF





REGISTERED NUMBER: 02914400 (England and Wales)





ACCOUNTANTS: Eagle Accountancy (UK) Limited
2 Coracle Offices
St Catherine Street
Carmarthen
Carmarthenshire
SA31 1RD

Inspiration Limited (Registered number: 02914400)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198,162 86,028
Investments 5 829,579 120,000
Investment property 6 170,000 -
1,197,741 206,028

CURRENT ASSETS
Stocks 150,000 140,000
Debtors 7 123,042 337,760
Cash at bank and in hand 130,498 843,294
403,540 1,321,054
CREDITORS
Amounts falling due within one year 8 260,028 311,917
NET CURRENT ASSETS 143,512 1,009,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,341,253

1,215,165

PROVISIONS FOR LIABILITIES 48,612 15,484
NET ASSETS 1,292,641 1,199,681

CAPITAL AND RESERVES
Called up share capital 1,325 1,325
Capital redemption reserve 275 275
Retained earnings 1,291,041 1,198,081
1,292,641 1,199,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

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 director and authorised for issue on 24 December 2024 and were signed by:





S J Rees - Director


Inspiration Limited (Registered number: 02914400)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Inspiration Limited is a private company, limited by shares , 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

Inspiration Limited (Registered number: 02914400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 222,615 91,154 4,243 318,012
Additions 129,563 46,090 - 175,653
At 31 March 2024 352,178 137,244 4,243 493,665
DEPRECIATION
At 1 April 2023 191,550 36,191 4,243 231,984
Charge for year 36,070 27,449 - 63,519
At 31 March 2024 227,620 63,640 4,243 295,503
NET BOOK VALUE
At 31 March 2024 124,558 73,604 - 198,162
At 31 March 2023 31,065 54,963 - 86,028

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023 120,000 - 120,000
Additions - 700,000 700,000
Dividends received - 9,579 9,579
At 31 March 2024 120,000 709,579 829,579
NET BOOK VALUE
At 31 March 2024 120,000 709,579 829,579
At 31 March 2023 120,000 - 120,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 170,000
At 31 March 2024 170,000
NET BOOK VALUE
At 31 March 2024 170,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 108,114 329,023
Amounts owed by group undertakings 2,864 -
Other debtors 8,333 5,730
Prepayments 3,731 3,007
123,042 337,760

Inspiration Limited (Registered number: 02914400)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 107,682 83,290
Tax 3,316 77,535
Social security and other taxes 41,716 73,002
Other creditors 8,358 51,945
Directors' current accounts 97,132 22,534
Accruals and deferred income 1,824 3,611
260,028 311,917