Inspire Contract Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08939256 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

INSPIRE CONTRACT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Slawson

T Alexander

Miss G Slawson

C Slawson

REGISTERED OFFICE:

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

REGISTERED NUMBER:

08939256 (England and Wales)

ACCOUNTANTS:

Edwards Chartered Accountants

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

FIXED ASSETS

Tangible assets

4

70,287

92,320

CURRENT ASSETS

Stocks

141,437

43,356

Debtors

5

1,360,116

409,842

Cash at bank

2,061,500

1,497,146

3,563,053

1,950,344

CREDITORS

Amounts falling due within one year

6

955,684

745,096

NET CURRENT ASSETS

2,607,369

1,205,248

TOTAL ASSETS LESS CURRENT LIABILITIES

2,677,656

1,297,568

PROVISIONS FOR LIABILITIES

11,913

15,782

NET ASSETS

2,665,743

1,281,786

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,665,643

1,281,686

SHAREHOLDERS' FUNDS

2,665,743

1,281,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2019 and were signed on its behalf by:

G Slawson - Director

1.	STATUTORY INFORMATION

Inspire Contract Services 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 12 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2018

7,407

108,150

115,557

Additions

1,221

-

1,221

At 31 March 2019

8,628

108,150

116,778

DEPRECIATION

At 1 April 2018

1,864

21,373

23,237

Charge for year

1,559

21,695

23,254

At 31 March 2019

3,423

43,068

46,491

NET BOOK VALUE

At 31 March 2019

5,205

65,082

70,287

At 31 March 2018

5,543

86,777

92,320

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,359,699

409,425

Other debtors

417

417

1,360,116

409,842

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

238,960

283,687

Taxation and social security

706,524

439,349

Other creditors

10,200

22,060

955,684

745,096

7.	TRANSACTIONS WITH DIRECTORS

During the year, the company voted dividends of £144,000 to Gary Slawson, a director.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Slawson.