Inspire Care Outreach Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07511105 (England and Wales)

Financial Statements for the Year Ended 31 January 2025

for

Inspire Care Outreach Limited

Page

Company Information

1

Income Statement

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs Helen Odejimi

Mr Isaac Odejimi

REGISTERED OFFICE:

45 Elsenham Road

Manor Park

London

E12 6JZ

REGISTERED NUMBER:

07511105 (England and Wales)

ACCOUNTANTS:

Argon & Krypton Consulting Ltd

(Chartered Certified Accountants & Tax Advisers)

Unit 6

Town Quay Wharf

Abbey Road

Barking

Essex

IG11 7BZ

TURNOVER

2,368,847

1,918,394

Direct Costs

1,469,831

379,693

GROSS PROFIT

899,016

1,538,701

Overseas Activities

6,979

63,371

Administrative expenses

892,024

1,475,964

899,003

1,539,335

OPERATING PROFIT/(LOSS)

4

13

(634

)

Interest receivable and similar income

9

61

PROFIT/(LOSS) BEFORE TAXATION

22

(573

)

Tax on profit/(loss)

58

-

LOSS FOR THE FINANCIAL YEAR

(36

)

(573

)

FIXED ASSETS

Intangible assets

5

-

7,200

Tangible assets

6

1,134,805

1,135,089

Investment property

7

103,144

1,237,949

1,245,433

CURRENT ASSETS

Cash at bank

89,405

21,128

CREDITORS

Amounts falling due within one year

8

299,046

116,823

NET CURRENT LIABILITIES

(209,641

)

(95,695

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,028,308

1,149,738

CREDITORS

Amounts falling due after more than one year

9

(256,141

)

(299,053

)

ACCRUALS AND DEFERRED INCOME

(248,824

)

(291,517

)

NET ASSETS

523,343

559,168

CAPITAL AND RESERVES

Called up share capital

2

Directors' Equity

10

400,830

Retained earnings

10

122,511

158,336

SHAREHOLDERS' FUNDS

523,343

559,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

Mrs Helen Odejimi - Director

1.	STATUTORY INFORMATION

Inspire Care Outreach 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 2015, 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 etc

-

25% on cost and 20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 85 (2024 - 71 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

31.1.25

31.1.24

£

Depreciation - owned assets

8,044

6,892

Goodwill amortisation

7,200

Annual Confirmation Statements

65

75

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

72,000

AMORTISATION

At 1 February 2024

64,800

Charge for year

7,200

At 31 January 2025

72,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

7,200

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 February 2024

1,083,193

165,150

1,248,343

Additions

-

7,760

At 31 January 2025

1,083,193

172,910

1,256,103

DEPRECIATION

At 1 February 2024

-

113,254

Charge for year

-

8,044

At 31 January 2025

-

121,298

NET BOOK VALUE

At 31 January 2025

1,083,193

51,612

1,134,805

At 31 January 2024

1,083,193

51,896

1,135,089

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

103,144

NET BOOK VALUE

At 31 January 2025

103,144

At 31 January 2024

103,144

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Bank loans and overdrafts

16,660

8,441

Trade creditors

3

(1

)

Trade Creditors

13,666

15,707

Corporation Tax

1,641

1,583

VAT Due

(4,196

)

-

Social security and other taxes

264,837

83,969

NEST Creditor

5,216

7,124

AEO Creditor

1,219

-

299,046

116,823

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

31.1.25

31.1.24

£

Bounce Back Loan

13,675

24,167

Mortgage

274,886

Other creditors

(32,420

)

-

256,141

299,053

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

274,886

10.

RESERVES

Retained

Directors'

earnings

Equity

Totals

£

At 1 February 2024

158,336

400,830

559,166

Deficit for the year

(36

)

(36

)

Dividends

(35,789

)

(35,789

)

At 31 January 2025

122,511

400,830

523,341