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COMPANY REGISTRATION NUMBER: 10900737
INSPIRING STEM CONSULTING LIMITED
Unaudited Financial Statements
31 August 2024
INSPIRING STEM CONSULTING LIMITED
Financial Statements
Year ended 31 August 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
INSPIRING STEM CONSULTING LIMITED
Directors' Report
Year ended 31 August 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2024 .
Directors
The directors who served the company during the year were as follows:
M D Delahunty
M Delahunty
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 April 2025 and signed on behalf of the board by:
M D Delahunty
Director
Registered office:
C/O The Accounting Centre
First Floor, 736 High Road
North Finchley
London
United Kingdon
N12 9QD
INSPIRING STEM CONSULTING LIMITED
Statement of Income and Retained Earnings
Year ended 31 August 2024
2024
2023
Note
£
£
Turnover
101,226
110,984
---------
---------
Gross profit
101,226
110,984
Administrative expenses
42,108
39,149
---------
---------
Operating profit
59,118
71,835
---------
---------
Profit before taxation
59,118
71,835
Tax on profit
11,916
14,538
--------
--------
Profit for the financial year and total comprehensive income
47,202
57,297
--------
--------
Dividends paid and payable
5
( 47,000)
( 58,900)
Retained earnings at the start of the year
68
1,671
--------
--------
Retained earnings at the end of the year
270
68
--------
--------
All the activities of the company are from continuing operations.
INSPIRING STEM CONSULTING LIMITED
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Debtors
6
11,000
3,628
Cash at bank and in hand
2,585
15,656
--------
--------
13,585
19,284
Creditors: amounts falling due within one year
7
13,215
19,116
--------
--------
Net current assets
370
168
----
----
Total assets less current liabilities
370
168
----
----
Net assets
370
168
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
8
270
68
----
----
Shareholders funds
370
168
----
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 April 2025 , and are signed on behalf of the board by:
M D Delahunty
M Delahunty
Director
Director
Company registration number: 10900737
INSPIRING STEM CONSULTING LIMITED
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O The Accounting Centre, First Floor, 736 High Road, North Finchley, London, N12 9QD, United Kingdon.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
47,000
58,900
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
4,200
3,628
Other debtors
6,800
--------
-------
11,000
3,628
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
11,916
14,538
Other creditors
1,299
4,578
--------
--------
13,215
19,116
--------
--------
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
9. Directors' advances, credits and guarantees
Directors loan account balance is shown within Debtors note as Other debtors (£6,800). It was in credit in 2023 (£3,377).
10. Controlling party
The company was under the control of the directors throughout the year.