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Registration number: 06805167

Inspira Trading Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Inspira Trading Limited

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Inspira Trading Limited

Company Information

Directors

Mr Gary Rosen

Mrs Samantha Harvey

Company secretary

Mrs Samantha Harvey

Registered office

Unit 5
Crossway Park
Arlesey
Bedfordshire
SG15 6SG

 

Inspira Trading Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Gary Rosen

Mrs Samantha Harvey - Company secretary and director

Principal activity

The principal activity of the company is the wholesale of household goods.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 


Mr Gary Rosen
Director

 

Inspira Trading Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

16,406,528

16,953,242

Cost of sales

 

(14,768,828)

(15,374,280)

Gross profit

 

1,637,700

1,578,962

Administrative expenses

 

(793,463)

(716,009)

Operating profit

 

844,237

862,953

Other interest receivable and similar income

 

-

60

Interest payable and similar charges

 

(78,907)

(81,580)

 

(78,907)

(81,520)

Profit before tax

4

765,330

781,433

Taxation

 

(192,876)

(184,069)

Profit for the financial year

 

572,454

597,364

Retained earnings brought forward

 

3,177,045

2,671,181

Dividends paid

 

(24,700)

(91,500)

Retained earnings carried forward

 

3,724,799

3,177,045

 

Inspira Trading Limited

(Registration number: 06805167)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

50,866

88,219

Current assets

 

Stocks

6

3,550,455

2,822,967

Debtors

7

1,299,537

1,353,377

Cash at bank and in hand

 

104,401

107,024

 

4,954,393

4,283,368

Creditors: Amounts falling due within one year

8

(934,793)

(775,020)

Net current assets

 

4,019,600

3,508,348

Total assets less current liabilities

 

4,070,466

3,596,567

Creditors: Amounts falling due after more than one year

8

(343,000)

(408,136)

Provisions for liabilities

(2,567)

(11,286)

Net assets

 

3,724,899

3,177,145

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,724,799

3,177,045

Shareholders' funds

 

3,724,899

3,177,145

For the financial year ending 31 December 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 


Mr Gary Rosen
Director

 

Inspira Trading Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5
Crossway Park
Arlesey
Bedfordshire
SG15 6SG
United Kingdom

These financial statements were authorised for issue by the Board on 27 March 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

 

Inspira Trading Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Furniture and fittings

25% straight line

Leasehold improvements

Over remaining term of lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed annually for any bad debts and any adjustment is made accordingly through the profit and loss.

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.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Inspira Trading Limited

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

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 10 (2023 - 9).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

37,353

47,728

 

Inspira Trading Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

370,605

43,000

10,965

424,570

At 31 December 2024

370,605

43,000

10,965

424,570

Depreciation

At 1 January 2024

307,118

29,016

217

336,351

Charge for the year

33,787

3,496

70

37,353

At 31 December 2024

340,905

32,512

287

373,704

Carrying amount

At 31 December 2024

29,700

10,488

10,678

50,866

At 31 December 2023

63,487

13,984

10,748

88,219

6

Stocks

2024
£

2023
£

Inventories

3,550,455

2,822,967

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,063,072

1,238,156

Prepayments

61,161

50,716

Other debtors

175,304

64,505

 

1,299,537

1,353,377

 

Inspira Trading Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

630,066

421,713

Taxation and social security

251,643

312,478

Accruals and deferred income

51,501

39,570

Other creditors

1,583

1,259

934,793

775,020

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

343,000

408,136

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

343,000

408,136

The above relates entirely to directors' loan accounts as detailed in the related party note.

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Dividends

2024

2023

£

£

Interim dividend of £247.00 (2023 - £915.00) per ordinary share

24,700

91,500

 

 
 

Inspira Trading Limited

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

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £380,513 (2023 - £549,630). The company has a long lease on three business units. The amount disclosed is the amount due to the review date on 18th March 2027.The annual rent is £169,117.

13

Related party transactions

Transactions with directors
At the balance sheet date the company owed £21,750 (2023: £16,032) to S Harvey, Director. The company also owed G Rosen, Director £321,251 (2023:£392,104). Interest is being charged at 12% per annum on these balances. The amounts are classified as creditors due more than one year.

14

Ultimate controlling party

The ultimate controlling party is Mr G Rosen, majority shareholder.