COMPANY REGISTRATION NUMBER:
08134758
|
INSPIRING LEADERS LIMITED |
|
|
Company Limited by Guarantee |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
INSPIRING LEADERS LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
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STATEMENT OF FINANCIAL POSITION |
|
31 August 2024
Current assets
|
Debtors |
6 |
42,733 |
|
46,358 |
|
Cash at bank and in hand |
139,140 |
|
205,084 |
|
---------- |
|
---------- |
|
181,873 |
|
251,442 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
68,366) |
|
(
139,493) |
|
---------- |
|
---------- |
|
Net current assets |
|
113,507 |
111,949 |
|
|
---------- |
---------- |
|
Total assets less current liabilities |
|
113,507 |
111,949 |
|
|
---------- |
---------- |
|
Net assets |
|
113,507 |
111,949 |
|
|
---------- |
---------- |
|
|
|
|
|
Capital and reserves
|
Profit and loss account |
|
113,507 |
111,949 |
|
|
---------- |
---------- |
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Members funds |
|
113,507 |
111,949 |
|
|
---------- |
---------- |
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|
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These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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
.
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INSPIRING LEADERS LIMITED |
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|
COMPANY LIMITED BY GUARANTEE |
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STATEMENT OF FINANCIAL POSITION (continued) |
|
31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 May 2025
, and are signed on behalf of the board by:
Company registration number:
08134758
|
INSPIRING LEADERS LIMITED |
|
|
COMPANY LIMITED BY GUARANTEE |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 AUGUST 2024
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 2a Vickery Way, Chilwell, Beeston, Nottingham 2a Vickery Way, Beeston, Nottingham, NG9 6RY, England.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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. The estimates and assumptions that may have an effect on the carrying amounts of assets and liabilities include: Income received in relation to the completion of qualifications is recognised on a straight line basis over the estimated average period taken to complete each qualification.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
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. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Company limited by guarantee
The company is a company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
1,230 |
1,313 |
|
Other debtors |
41,503 |
45,045 |
|
--------- |
--------- |
|
42,733 |
46,358 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
63,718 |
67,981 |
|
Corporation tax |
– |
412 |
|
Social security and other taxes |
1,768 |
– |
|
Other creditors |
2,880 |
71,100 |
|
--------- |
---------- |
|
68,366 |
139,493 |
|
--------- |
---------- |
|
|
|
8.
Related party transactions
No transactions with related parties were undertaken during the period, such as are required to be disclosed under FRS102 Section 1A.
9.
Controlling party
The company was under the control of the directors during the current and previous year.