Abbreviated Company Accounts - INSPIRAS LTD

Registered Number 04659050

INSPIRAS LTD

Abbreviated Accounts

31 March 2014

INSPIRAS LTD Registered Number 04659050

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Investments	3	-	75
		-	75
Current assets
Debtors	4	163,277	353,166
Cash at bank and in hand		615,380	557,578
		778,657	910,744
Creditors: amounts falling due within one year		(769,956)	(902,118)
Net current assets (liabilities)		8,701	8,626
Total assets less current liabilities		8,701	8,701
Total net assets (liabilities)		8,701	8,701
Reserves
Income and expenditure account		8,701	8,701
Members' funds		8,701	8,701

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 November 2014

And signed on their behalf by:
Mr D C Young, Director

INSPIRAS LTD Registered Number 04659050

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the income and expenditure account represents income receivable during the year.

Other accounting policies
CONSOLIDATION: In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

GRANTS: Grants awarded to applicants are recognised as liabilities at the time applicants present their claims and can demonstrate that they have fully met the terms of the offer of the grant. Grants are deducted from the Springboard Fund.

SPRINGBOARD FUND LOANS: Loans made are recognised as debtors unless recovery is not deemed to be forthcoming, in which case the loans are deducted from the Springboard Fund.

INVESTMENTS: The investment in the subsidiary is held at cost less provision for impairment.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Fixed assets Investments
COST At 1 April 2013: £75
Disposals: £(75)
At 31 March 2014: £Nil

NET BOOK VALUE at 31 March 2014: £Nil
At 31 March 2013: £75

The investments at 31 March 2014 were:
Subsidiary undertaking: D.C.E.T. Limited
Country of incorporation/registration: England & Wales
Nature of business: Provision of vocational training courses to individuals under a series of government contracts and to employees of commercial customers.
Proportion of Ordinary shares held: 0%

Aggregate capital and reserves:
D.C.E.T. Limited: 2014 £Nil, 2013 £313,459

Profit and (loss) for the year:
D.C.E.T. Limited: 2014 £Nil, 2013 £(92,192)

The company sold all its shares in D.C.E.T. Limited to Focus Training SW Limited at par (£75) on 1st April 2013.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

4Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	54,703	114,064