Data Inspires Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08552297 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

Data Inspires Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Mullen

REGISTERED OFFICE:

Evolution House

Iceni Court

Delft Way

Norwich

Norfolk

NR6 6BB

REGISTERED NUMBER:

08552297 (England and Wales)

ACCOUNTANTS:

Farnell Clarke Limited

Evolution House

Delft Way

Norwich Airport

Norwich

Norfolk

NR6 6BB

FIXED ASSETS

Tangible assets

4

594

541

CURRENT ASSETS

Debtors

5

11,353

30,940

Cash at bank

32,257

42,402

43,610

73,342

CREDITORS

Amounts falling due within one year

6

44,053

70,460

NET CURRENT (LIABILITIES)/ASSETS

(443

)

2,882

TOTAL ASSETS LESS CURRENT LIABILITIES

151

3,423

PROVISIONS FOR LIABILITIES

101

103

NET ASSETS

50

3,320

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

48

3,318

SHAREHOLDERS' FUNDS

50

3,320

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 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 director on 27 January 2020 and were signed by:

Mr D Mullen - Director

1.	STATUTORY INFORMATION

Data Inspires 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

Computer equipment

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2018

788

1,722

2,510

Additions

-

334

334

Disposals

-

(426

)

(426

)

At 31 May 2019

788

1,630

2,418

DEPRECIATION

At 1 June 2018

425

1,544

1,969

Charge for year

91

13

104

Eliminated on disposal

-

(249

)

(249

)

At 31 May 2019

516

1,308

1,824

NET BOOK VALUE

At 31 May 2019

272

322

594

At 31 May 2018

363

178

541

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

11,302

30,940

Prepayments

51

-

11,353

30,940

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Tax

17,270

18,893

Social security and other taxes

-

(1

)

VAT

3,759

8,346

Other creditors

421

60

Directors' current accounts

22,603

43,162

44,053

70,460

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

2

2

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £44,510 (2018 - £46,500) were paid to the director .

9.	ULTIMATE CONTROLLING PARTY

By virtue of their equal shareholding, Mrs C Mullen and Mr D Mullen, share ultimate control of the company.