Inspire Property Investments Limited 30/09/2024 iXBRL

Company registration number: 04914712

Inspire Property Investments Limited

Unaudited filleted financial statements

30 September 2024

Inspire Property Investments Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Inspire Property Investments Limited

Directors and other information


	Directors	Mr Syed Naveed Hussain
		Mr Syed Junaed Hussain


	Secretary	Syed Naveed Hussain


	Company number	04914712


	Registered office	Unit 7
		16-18 Pampisford Road
		Purley
		Surrey
		CR8 2NE


	Business address	Unit 7
		16-18 Pampisford Road
		Purley
		Surrey
		CR8 2NE


	Accountants	P R Shah & Co
		10 Bouverie Gardens
		Harrow
		Middlesex
		HA3 0RQ




	Bankers	HSBC Bank
		139A North End
		Croydon
		Surrey
		CR0 1TN

		Metro Bank
		One Southampton Row
		London
		WC1B 5HA


	Solicitors	Amphlett Lissimore
		Greystoke House
		80-86 Westow Street
		London
		SE1 3AF

Inspire Property Investments Limited

Statement of financial position

30 September 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	2,265,152		2,265,480
Investments	6	515,860		456,109
		_______		_______
			2,781,012		2,721,589

Current assets
Debtors	7	236,886		212,966
Cash at bank and in hand		98,608		65,603
		_______		_______
		335,494		278,569
Creditors: amounts falling due
within one year	8	( 214,512)		( 72,648)
		_______		_______
Net current assets			120,982		205,921
			_______		_______
Total assets less current liabilities			2,901,994		2,927,510

Creditors: amounts falling due
after more than one year	9		( 1,919,871)		( 1,929,947)
			_______		_______
Net assets			982,123		997,563
			_______		_______

Capital and reserves
Called up share capital			4		4
Revaluation reserve			903,320		903,320
Profit and loss account			78,799		94,239
			_______		_______
Shareholders funds			982,123		997,563
			_______		_______

For the year ending 30 September 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 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr Syed Naveed Hussain

Director

Company registration number: 04914712

Inspire Property Investments Limited

Statement of changes in equity

Year ended 30 September 2024

	Called up share capital	Revaluation reserve	Profit and loss account	Total
	£	£	£	£


At 1 October 2022	4	903,320	62,519	965,843

(Loss)/profit for the year			31,720	31,720
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	31,720	31,720

	_______	_______	_______	_______
At 30 September 2023 and 1 October 2023	4	903,320	94,239	997,563

(Loss)/profit for the year			( 15,440)	( 15,440)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 15,440)	( 15,440)

	_______	_______	_______	_______
At 30 September 2024	4	903,320	78,799	982,123
	_______	_______	_______	_______

Inspire Property Investments Limited

Notes to the financial statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Inspire Property Investments Limited, Unit 7, 16-18 Pampisford Road, Purley, Surrey, CR8 2NE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold investment property	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 October 2023 and 30 September 2024	2,265,000	3,302	2,268,302
	_______	_______	_______
Depreciation
At 1 October 2023	-	2,822	2,822
Charge for the year	-	328	328
	_______	_______	_______
At 30 September 2024	-	3,150	3,150
	_______	_______	_______
Carrying amount
At 30 September 2024	2,265,000	152	2,265,152
	_______	_______	_______
At 30 September 2023	2,265,000	480	2,265,480
	_______	_______	_______

6. Investments

	Loans to group undertakings and participating interests	Total
	£	£
Cost
At 1 October 2023	456,109	456,109
Additions	108,781	108,781
Disposals	( 49,030)	( 49,030)
	_______	_______
At 30 September 2024	515,860	515,860
	_______	_______
Impairment
At 1 October 2023 and 30 September 2024	-	-
	_______	_______
Carrying amount
At 30 September 2024	515,860	515,860
	_______	_______
At 30 September 2023	456,109	456,109
	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	93,274	75,256
Other debtors	143,612	137,710
	_______	_______
	236,886	212,966
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	157,263	12,824
Amounts owed to group undertakings and participating interests	10,000	10,000
Corporation tax	30,549	33,324
Other creditors	6,700	6,500
	_______	_______
	214,512	72,648
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	1,912,500	1,912,500
Other creditors	7,371	17,447
	_______	_______
	1,919,871	1,929,947
	_______	_______

The Long Term Bank loan is secured on the freehold investment property. This loan was acquired in July 2021 and is Interest Only Loan. The Loan is for a period of 10 years and the interest rate is fixed for the first five years at 3.55% pa and then in reverts to the banks variable rate at the time for the remaining term.

Bank loan is the Bounce Back Loan acquired on 10 May 2020 and is for a term of six years repayable after 12 months from commencement in equal instalments every month. The interest rate charged will be 2.5% per annum commencing from the first anniversary of the loan. The interest for the first year will be paid by the UK Government to the lending bank. In addition the loan is guaranteed by the UK Government under Bounce Back Loan Scheme.

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Syed Naveed Hussain	40,295	2,224	42,519
	Mr Syed Junaed Hussain	23,555	1,178	24,733
		_______	_______	_______
		63,850	3,402	67,252
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Syed Naveed Hussain	38,177	2,118	40,295
	Mr Syed Junaed Hussain	22,434	1,121	23,555
		_______	_______	_______
		60,611	3,239	63,850
		_______	_______	_______

11. Controlling party

In view of the nature of allocation of the shares, no single individual has overall control of the company. The same criteria applied in the previous year.