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Company Registration No. 06316291 (England and Wales)
WORLD INSPIRED LIMITED
Financial Statements
for the Period from 01 January 2024 to 31 December 2024

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

Notes to the Accounts

1. Statutory Information
WORLD INSPIRED LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06316291.
2. Accounting Policies
Basis of preparing the Financial Statements
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.The financial statements have been prepared on a going concern basis.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value asses tax, returns, rebates and discounts.The company recognised 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.

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

Notes to the Accounts

Current 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.
Tangible Fixed Asset Policy
Tangible assets are stated in the statement of financial position 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.DepreciationDepreciation 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 rateLong leasehold property Over the length of the leaseTents & hire equipment 15% reducing balanceFittings, fixtures and equipment 15% reducing balanceMotor vehicles 25% reducing balanceOffice equipment 33% straight line

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

Notes to the Accounts

Stock
Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.
Deferred Tax
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.

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2024 9
2023 12
4. Principal Activity
The principal activity of the company is the hire of tents and tipis.

WORLD INSPIRED LIMITED

Financial Statements for the period ending 31 December 2024

Notes to the Accounts

5. Fixed Assets
Plant and Machinery Motor Vehicles Fixtures and Fittings Computer Equipment Total
Cost or valuation £ £ £ £ £
At 01/01/2024 459,882 168,565 20,555 17,021 694,066
Additions 46,723 22,000 - - 68,723
Disposals (56,993) (87,193) (12,082) (13,845) (170,113)
At 31/12/2024 449,612 103,372 8,473 3,176 592,676
Depreciation
At 01/01/2024 329,127 145,378 18,231 16,965 537,744
Charge for the year 27,257 10,046 268 62 37,633
Disposals (44,677) (82,192) (11,545) (13,851) (152,265)
At 31/12/2024 311,707 73,232 6,954 3,176 423,112
Net Book Value
At 31/12/2024 137,905 30,140 1,519 - 169,564
At 31/12/2023 130,755 23,187 2,324 56 156,322