REGISTERED NUMBER: 14540479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INSPIRATIONS SHEFFIELD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Dimler

M Jarvis

R D Wagland

REGISTERED OFFICE:

Hillsborough Arena

Middlewood Road

Sheffield

South Yorkshire

S6 4HA

REGISTERED NUMBER:

14540479 (England and Wales)

ACCOUNTANTS:

Marriott Gibbs Rees Wallis Limited

Chartered Certified Accountants

First Floor

Unit 4, Broadfield Court

Sheffield

South Yorkshire

S8 0XF

FIXED ASSETS

Intangible assets

4

19,200

21,600

Tangible assets

5

31,124

7,248

50,324

28,848

CURRENT ASSETS

Debtors

6

54,997

57,503

Cash at bank

3,557

19,840

58,554

77,343

CREDITORS

Amounts falling due within one year

7

50,831

82,945

NET CURRENT ASSETS/(LIABILITIES)

7,723

(5,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

58,047

23,246

CREDITORS

Amounts falling due after more than one year

8

11,625

-

NET ASSETS

46,422

23,246

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

46,322

23,146

46,422

23,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

R D Wagland - Director

1.	STATUTORY INFORMATION

Inspirations Sheffield Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

24,000

AMORTISATION

At 1 January 2024

2,400

Amortisation for year

2,400

At 31 December 2024

4,800

NET BOOK VALUE

At 31 December 2024

19,200

At 31 December 2023

21,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

-

1,316

8,153

9,469

Additions

37,749

592

1,225

39,566

At 31 December 2024

37,749

1,908

9,378

49,035

DEPRECIATION

At 1 January 2024

-

241

1,980

2,221

Charge for year

12,328

595

2,767

15,690

At 31 December 2024

12,328

836

4,747

17,911

NET BOOK VALUE

At 31 December 2024

25,421

1,072

4,631

31,124

At 31 December 2023

-

1,075

6,173

7,248

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

45,889

39,327

Other debtors

9,108

18,176

54,997

57,503

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

7,750

-

Trade creditors

11,710

-

Taxation and social security

23,992

26,894

Other creditors

7,379

56,051

50,831

82,945

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

11,625

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024

2023

£

£

S Dimler

Balance outstanding at start of year

12,187

-

Amounts advanced

14,099

12,187

Amounts repaid

(26,286

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

12,187

M Jarvis

Balance outstanding at start of year

2,937

-

Amounts advanced

13,571

8,243

Amounts repaid

(11,022

)

(5,306

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,486

2,937

R D Wagland

Balance outstanding at start of year

-

-

Amounts advanced

6,479

-

Amounts repaid

(3,457

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,022

-