11
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2024-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
04889353
2024-04-01
2025-03-31
04889353
2025-03-31
04889353
2024-03-31
04889353
2023-04-01
2024-03-31
04889353
2024-03-31
04889353
2023-03-31
04889353
core:FurnitureFittings
2024-04-01
2025-03-31
04889353
core:MotorVehicles
2024-04-01
2025-03-31
04889353
bus:RegisteredOffice
2024-04-01
2025-03-31
04889353
bus:LeadAgentIfApplicable
2024-04-01
2025-03-31
04889353
bus:Director1
2024-04-01
2025-03-31
04889353
bus:Director3
2024-04-01
2025-03-31
04889353
bus:CompanySecretary1
2024-04-01
2025-03-31
04889353
core:FurnitureFittings
2024-03-31
04889353
core:FurnitureFittings
2025-03-31
04889353
core:WithinOneYear
2025-03-31
04889353
core:WithinOneYear
2024-03-31
04889353
core:AfterOneYear
2025-03-31
04889353
core:AfterOneYear
2024-03-31
04889353
core:ShareCapital
2025-03-31
04889353
core:ShareCapital
2024-03-31
04889353
core:CapitalRedemptionReserve
2025-03-31
04889353
core:CapitalRedemptionReserve
2024-03-31
04889353
core:RetainedEarningsAccumulatedLosses
2025-03-31
04889353
core:RetainedEarningsAccumulatedLosses
2024-03-31
04889353
core:BetweenOneFiveYears
2025-03-31
04889353
core:BetweenOneFiveYears
2024-03-31
04889353
core:FurnitureFittings
2024-03-31
04889353
bus:SmallEntities
2024-04-01
2025-03-31
04889353
bus:AuditExemptWithAccountantsReport
2024-04-01
2025-03-31
04889353
bus:SmallCompaniesRegimeForAccounts
2024-04-01
2025-03-31
04889353
bus:PrivateLimitedCompanyLtd
2024-04-01
2025-03-31
04889353
bus:FullAccounts
2024-04-01
2025-03-31
COMPANY REGISTRATION NUMBER:
04889353
|
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2025
|
Officers and professional advisers |
1 |
|
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
|
|
|
Statement of financial position |
3 |
|
|
|
Notes to the financial statements |
5 |
|
|
|
Officers and Professional Advisers |
|
|
The board of directors |
Mr A D Cook |
|
Mr D Blamires |
|
|
|
Company secretary |
Mrs T S Cook |
|
|
|
Registered office |
2 Oldfield Road |
|
Bocam Park |
|
Bridgend |
|
Bridgend County Borough |
|
CF35 5LJ |
|
|
|
Accountants |
Clay Shaw Thomas Ltd |
|
|
|
2 Oldfield Road |
|
Bocam Park |
|
Bridgend |
|
CF35 5LJ |
|
|
|
Bankers |
Barclays Bank Plc |
|
Corporate Banking Centre |
|
PO Box 747 |
|
Barclays House |
|
Ty Glas Avenue |
|
Llanishen |
|
Cardiff |
|
|
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Inspire Design Limited |
|
Year ended 31 March 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
13 August 2025
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
5 |
|
34,349 |
38,661 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
574,152 |
|
551,640 |
|
Cash at bank and in hand |
46,100 |
|
36,074 |
|
--------- |
|
--------- |
|
620,252 |
|
587,714 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
340,928 |
|
291,044 |
|
--------- |
|
--------- |
|
Net current assets |
|
279,324 |
296,670 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
313,673 |
335,331 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
125,211 |
190,562 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
6,207 |
7,133 |
|
|
--------- |
--------- |
|
Net assets |
|
182,255 |
137,636 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
115 |
115 |
|
Capital redemption reserve |
|
20,029 |
20,029 |
|
Profit and loss account |
|
162,111 |
117,492 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
182,255 |
137,636 |
|
|
--------- |
--------- |
|
|
|
|
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 March 2025 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
.
|
Statement of Financial Position (continued) |
|
31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
13 August 2025
, and are signed on behalf of the board by:
Company registration number:
04889353
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, Bridgend County Borough, CF35 5LJ.
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.
Going concern
The director has assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the director has taken in to account all available information about the future, and conclude that the company has adequate resources to to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and key sources of estimation uncertainty
(i) Profit recognition on long term contracts The company makes an estimate of the attributable profit on long term contracts. The attributable profit on long term contracts is recognised once the outcome of the long term contract can be estimated reliably. When calculating the attributable profit to be recognised, management considers the stage of completion to date on the project. Full provision is made losses on all contracts in the year in which the loss is first foreseen. (ii) Amounts recoverable on contracts The company makes an estimate of the amounts recoverable on contracts. When calculating the amounts recoverable on contract, management considers the works done to date less amounts already invoiced.
Revenue recognition
The turnover shown in the profit and loss account represents services rendered during the year and relates to the company's principal activity which is that of architectural design and construction management. 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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & Fittings |
- |
25% reducing balance |
|
Motor Vehicles |
- |
25% reducing balance |
|
Computer Equipment |
- |
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
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
11
(2024:
12
).
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 April 2024 |
44,703 |
|
171,501 |
|
Additions |
– |
|
7,086 |
|
Disposals |
(
773) |
|
(
5,819) |
|
-------- |
--------- |
--------- |
|
At 31 March 2025 |
43,930 |
|
172,768 |
|
-------- |
--------- |
--------- |
|
Depreciation |
|
|
|
|
At 1 April 2024 |
41,791 |
|
132,840 |
|
Charge for the year |
714 |
|
10,962 |
|
Disposals |
(
717) |
|
(
5,383) |
|
-------- |
--------- |
--------- |
|
At 31 March 2025 |
41,788 |
|
138,419 |
|
-------- |
--------- |
--------- |
|
Carrying amount |
|
|
|
|
At 31 March 2025 |
2,142 |
|
34,349 |
|
-------- |
--------- |
--------- |
|
At 31 March 2024 |
2,912 |
|
38,661 |
|
-------- |
--------- |
--------- |
|
|
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
171,433 |
118,458 |
|
Amounts owed by group |
290,402 |
– |
|
Other debtors |
112,317 |
433,182 |
|
--------- |
--------- |
|
574,152 |
551,640 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
98,274 |
141,140 |
|
Trade creditors |
26,343 |
12,574 |
|
Social security and other taxes |
131,908 |
99,999 |
|
Other creditors |
84,403 |
37,331 |
|
--------- |
--------- |
|
340,928 |
291,044 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
125,211 |
190,562 |
|
--------- |
--------- |
|
|
|
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2025 |
2024 |
|
£ |
£ |
|
Not later than 1 year |
7,802 |
49,283 |
|
Later than 1 year and not later than 5 years |
13,657 |
21,459 |
|
-------- |
-------- |
|
21,459 |
70,742 |
|
-------- |
-------- |
|
|
|
10.
Directors' advances, credit and guarantees
The transactions with the director in the year were as follows:
|
|
£ |
|
Balance owed from the director at 1 April 2024 |
(186,379) |
|
Introduced |
40,747 |
|
Withdrawn |
(37,495) |
|
Transfer to inter company |
183,127 |
|
|
--------- |
|
Balance owed from the director at 31 March 2025 |
– |
|
|
--------- |
|
|
|
There are no repayment terms or fixed interest charged on the above loan. The director
Mr A D Cook
have provided a personal guarantees to the value of £50,000 against the bank loans and overdrafts.
11.
Related party transactions
Inspire Design Limited
is a 100% subsidiaries of Inspire Design (Holdings) Limited, and as such have taken advantage of the exemption stated in FRS 102 whereby disclosure need not be given of transactions entered into between two or more members of the same group, provided that any subsidiary which is party to the transaction is wholly owned by such member. The transactions with Mrs T S Cook
in the year were as follows:
|
|
|
|
|
£ |
|
Balance owed from Mrs T S Cook at 1 April 2024 |
(93,203) |
|
Introduced |
37,996 |
|
Withdrawn |
(38,652) |
|
Transfer to inter company |
93,859 |
|
|
-------- |
|
Balance owed from Mrs T S Cook at 31 March 2025 |
– |
|
|
-------- |
|
|
|
These transactions are related as Mrs T S Cook has significant influence over the company.