Inspired Loans Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07326217 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2016

FOR

INSPIRED LOANS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTOR:

J M Chanot

REGISTERED OFFICE:

Channing House

14 Butts Road

Alton

Hampshire

GU34 1ND

REGISTERED NUMBER:

07326217 (England and Wales)

ACCOUNTANTS:

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

FIXED ASSETS

Tangible assets

2

1,364

1,818

CURRENT ASSETS

Debtors

31,694

15,910

Cash at bank

3,414

64,150

35,108

80,060

CREDITORS

Amounts falling due within one year

56,807

112,816

NET CURRENT LIABILITIES

(21,699

)

(32,756

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,335

)

(30,938

)

PROVISIONS FOR LIABILITIES

246

323

NET LIABILITIES

(20,581

)

(31,261

)

CAPITAL AND RESERVES

Called up share capital

3

950

Capital redemption reserve

50

Profit and loss account

(21,581

)

(32,261

)

SHAREHOLDERS' FUNDS

(20,581

)

(31,261

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 January 2017 and were signed by:

J M Chanot - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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 reducing balance

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The financial statements have been drawn up on a going concern basis which assumes adequate finance will

continue to be made available and accordingly do not take account of adjustments, if any, which may be

necessary if the company is unable to continue as a concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

and 31 January 2016

4,113

DEPRECIATION

At 1 February 2015

2,295

Charge for year

454

At 31 January 2016

2,749

NET BOOK VALUE

At 31 January 2016

1,364

At 31 January 2015

1,818

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

950

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2016 and

31 January 2015:

2016

2015

£

J M Chanot

Balance outstanding at start of year

-

Amounts advanced

23,545

-

Amounts repaid

-

Balance outstanding at end of year

23,545

-

The above is in summarised form. Interest has been charged on the loan at the official rate, and the loan was

repaid within nine months of the year end.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Inspired Loans Ltd for the year ended 31 January 2016 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Inspired Loans Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inspired Loans Ltd and state those matters that we have agreed to state to the director of Inspired Loans Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Inspired Loans Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Inspired Loans Ltd. You consider that Inspired Loans 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 financial statements of Inspired Loans 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 financial statements.

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

27 January 2017