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 2020

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

690

594

CURRENT ASSETS

Debtors

5

15,124

11,353

Cash at bank

49,046

32,257

64,170

43,610

CREDITORS

Amounts falling due within one year

6

62,431

44,053

NET CURRENT ASSETS/(LIABILITIES)

1,739

(443

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,429

151

PROVISIONS FOR LIABILITIES

131

101

NET ASSETS

2,298

50

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

2,296

48

SHAREHOLDERS' FUNDS

2,298

50

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 25 February 2021 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 (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2019

788

1,630

2,418

Additions

-

265

265

At 31 May 2020

788

1,895

2,683

DEPRECIATION

At 1 June 2019

516

1,308

1,824

Charge for year

68

101

169

At 31 May 2020

584

1,409

1,993

NET BOOK VALUE

At 31 May 2020

204

486

690

At 31 May 2019

272

322

594

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

15,071

11,302

Prepayments

53

51

15,124

11,353

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Corporation Tax

17,355

17,270

VAT

13,602

3,759

Other creditors

50

421

Directors' current accounts

31,424

22,603

62,431

44,053

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

2

2

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £35,903 (2019 - £44,510) 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.