Company registration number 06911289 (England and Wales)
INSPIRED INTERIORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
INSPIRED INTERIORS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
INSPIRED INTERIORS LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
5
(179,982)
(179,982)
Net current liabilities
(179,982)
(179,982)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
7
(180,082)
(180,082)
Total equity
(179,982)
(179,982)

For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 18 February 2025
Mr PS Rydzyk
Director
Company registration number 06911289 (England and Wales)
INSPIRED INTERIORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Inspired Interiors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Hepscott Road, London, E9 5HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Plant and equipment
33% on cost
Fixtures and fittings
25% on cost
Computers
25% on cost
1.5
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.6
Going concern
The director has prepared these financial statements using the going-concern basis, which assumes the continuing financial support of the company's short-term creditors.
INSPIRED INTERIORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
1
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 June 2023 and 31 May 2024
16,657
Amortisation and impairment
At 1 June 2023 and 31 May 2024
16,657
Carrying amount
At 31 May 2024
-
0
At 31 May 2023
-
0
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
2,153
544
545
3,242
Depreciation and impairment
At 1 June 2023 and 31 May 2024
2,153
544
545
3,242
Carrying amount
At 31 May 2024
-
0
-
0
-
0
-
0
At 31 May 2023
-
0
-
0
-
0
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,172
5,172
Other creditors
174,140
174,140
Accruals and deferred income
670
670
179,982
179,982
INSPIRED INTERIORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
7
Profit and loss reserves
2024
2023
£
£
Profit for the year
-
0
-
0
At the beginning and end of the year
(180,082)
(180,082)
8
Parent company

The ultimate controlling party is Mr P S Rydzyk.

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