Inspire Group Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07300298 (England and Wales)

INSPIRE GROUP INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019

Page

Company Information

1

Accountants' Report

2

to

3

Abridged Statement of Financial Position

4

to

5

Notes to the Financial Statements

6

to

10

DIRECTORS:

M Edwards

B Flux

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

07300298 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

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

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

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

approval the financial statements of Inspire Group Investments Limited for the year ended

31st March 2019 which comprise the Income Statement, Abridged Statement of Financial Position,

Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Inspire Group Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inspire Group Investments Limited and state those matters that we have agreed to state to the Board of Directors of Inspire Group Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inspire Group Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inspire Group Investments Limited 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 loss of Inspire Group Investments Limited. You consider that Inspire Group Investments Limited 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 Inspire Group Investments Limited. 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.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

17th December 2019

FIXED ASSETS

Intangible assets

5

12,277

12,277

Property, plant and equipment

6

414,179

440,256

Investments

7

111,912

86,092

538,368

538,625

CURRENT ASSETS

Debtors

8

1,301,911

1,360,915

Cash at bank

903,335

953,118

2,205,246

2,314,033

CREDITORS

Amounts falling due within one year

(251,654

)

(255,903

)

NET CURRENT ASSETS

1,953,592

2,058,130

TOTAL ASSETS LESS CURRENT LIABILITIES

2,491,960

2,596,755

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

2,490,960

2,595,755

SHAREHOLDERS' FUNDS

2,491,960

2,596,755

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 13th December 2019 and were signed on its behalf by:

M Edwards - Director

1.	STATUTORY INFORMATION

Inspire Group Investments 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost

convention.

Preparation of consolidated financial statements

The financial statements contain information about Inspire Group Investments Limited as an

individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to

prepare consolidated financial statements.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Revenue is recognised when goods have been delivered and services supplied to customers such

that risks and rewards of ownership have transferred to them.

Intangible assets

It is the policy of the company not to provide for amortisation on intangible assets. The directors

consider that the life of such assets is so long and that the residual value is so great that any

amortisation is considered immaterial. Impairment of intangible assets is only reviewed where

circumstances indicate that the carrying value of an asset may not be fully recoverable.

Property, plant and equipment

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

Freehold property

-

Not depreciated

Fixtures and fittings

-

20% on cost

It is the policy of the company not to provide depreciation on the freehold property. The property is

maintained to a high standard and the directors consider that the life of the property is so long and

that the residual value is so great that depreciation is considered immaterial.

Where any permanent diminution of property value is incurred, a provision is made to the profit and

loss account. The directors' estimate of residual value is based on prices prevailing at the time of

acquisition or subsequent revaluation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Tax

Tax 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the statement of financial position date. Transactions in foreign currencies are translated into

sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into

account in arriving at the operating result.

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 the income statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

Cost

At 1st April 2018

and 31st March 2019

12,277

Net book value

At 31st March 2019

12,277

At 31st March 2018

12,277

6.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st April 2018

and 31st March 2019

579,774

Depreciation

At 1st April 2018

139,518

Charge for year

26,077

At 31st March 2019

165,595

Net book value

At 31st March 2019

414,179

At 31st March 2018

440,256

7.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

Cost or valuation

At 1st April 2018

86,092

Revaluations

25,820

At 31st March 2019

111,912

Net book value

At 31st March 2019

111,912

At 31st March 2018

86,092

Cost or valuation at 31st March 2019 is represented by:

Totals

£

Valuation in 2018

10,046

Valuation in 2019

25,820

Cost

76,046

111,912

8.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other debtors

-

100,267

Included within amounts falling due after more than one year are convertible 5 year loan notes

which expire in the year ending 31 March 2022. Interest is payable on these loan notes at a rate of

5% per annum.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

92,000

92,000

Between one and five years

130,333

222,343

222,333

314,343

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.	CONTINGENT LIABILITIES

A subsidiary within the Group is currently dealing with an enquiry from HM Revenue & Customs

which depending on the outcome of such enquiry could have a significant effect on the financial

position or profitability of the Group. Due to the inherent uncertainties no accurate quantification of

any cost or timing of such cost can be anticipated therefore no adjustment has been included within

the financial statements.