Inspiras Ltd - Period Ending 2023-03-31
Inspiras Ltd - Period Ending 2023-03-31
Registration number:
Inspiras Ltd
(A company limited by guarantee)
for the Year Ended 31 March 2023
Inspiras Ltd
Contents
Accountants' Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Chartered
Accountants' Report to the
Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
Inspiras Ltd
for the
Year
Ended
31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Inspiras Ltd for the year ended 31 March 2023 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Inspiras Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Inspiras Ltd and state those matters that we have agreed to state to the Board of Directors of Inspiras Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inspiras Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Inspiras Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Inspiras Ltd. You consider that Inspiras Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Inspiras Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Westcotts
Chartered Accountants
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT
Date..........................
Inspiras Ltd
(Registration number: 04659050)
Statement of Financial Position as at 31 March 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Reserves |
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Profit and loss account |
8,701 |
8,701 |
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Surplus |
8,701 |
8,701 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
......................................... |
Inspiras Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
Principal activity
The principal activity of the company is that of a non-trading company.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
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 are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Inspiras Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
2 |
Accounting policies (continued) |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Tax
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Financial instruments
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2023 |
2022 |
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Amounts owed by related parties |
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- |
Other debtors |
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Prepayments |
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Inspiras Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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- |
Accruals and deferred income |
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Other creditors |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
Related party transactions |
Summary of transactions with entities with joint control or significant interest