Inspiring Your Home Limited Filleted accounts for Companies House (small and micro)

INSPIRING YOUR HOME LIMITED - Company Information

10 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 12297305 2020-12-01 2021-11-30 12297305 2021-11-30 12297305 2020-11-30 12297305 2019-11-04 2020-11-30 12297305 2020-11-30 12297305 core:MotorVehicles 2020-12-01 2021-11-30 12297305 bus:Director2 2020-12-01 2021-11-30 12297305 core:MotorVehicles 2020-11-30 12297305 core:MotorVehicles 2021-11-30 12297305 core:WithinOneYear 2021-11-30 12297305 core:WithinOneYear 2020-11-30 12297305 core:ShareCapital 2021-11-30 12297305 core:ShareCapital 2020-11-30 12297305 core:RetainedEarningsAccumulatedLosses 2021-11-30 12297305 core:RetainedEarningsAccumulatedLosses 2020-11-30 12297305 core:MotorVehicles 2020-11-30 12297305 bus:SmallEntities 2020-12-01 2021-11-30 12297305 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 12297305 bus:FullAccounts 2020-12-01 2021-11-30 12297305 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 12297305 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 12297305 core:OfficeEquipment 2020-12-01 2021-11-30 12297305 core:OfficeEquipment 2020-11-30 12297305 core:OfficeEquipment 2021-11-30

COMPANY REGISTRATION NUMBER: 12297305

Inspiring Your Home Limited

Filleted Unaudited Financial Statements

30 November 2021

Inspiring Your Home Limited

Statement of Financial Position

30 November 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	103,933	56,534

Current assets

Debtors	6	264,825	161,983
Cash at bank and in hand		154,828	118,023
		---------	---------
		419,653	280,006

Creditors: amounts falling due within one year	7	227,665	239,342
		---------	---------
Net current assets		191,988	40,664
		---------	--------
Total assets less current liabilities		295,921	97,198
		---------	--------
Net assets		295,921	97,198
		---------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	295,821	97,098
	---------	--------
Shareholders funds	295,921	97,198
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Inspiring Your Home Limited

Statement of Financial Position (continued)

30 November 2021

These financial statements were approved by the board of directors and authorised for issue on 19 July 2022 , and are signed on behalf of the board by:

Mr M Ludwin

Director

Company registration number: 12297305

Inspiring Your Home Limited

Notes to the Financial Statements

Year ended 30 November 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Lumiere, Elstree Way, Borehamwood, WD6 1JH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	15% reducing balance
Equipment	-	20% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2020: 10 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 December 2020	62,887	3,849	66,736
Additions	60,191	5,548	65,739
	---------	-------	---------
At 30 November 2021	123,078	9,397	132,475
	---------	-------	---------
Depreciation
At 1 December 2020	9,433	769	10,202
Charge for the year	17,046	1,294	18,340
	---------	-------	---------
At 30 November 2021	26,479	2,063	28,542
	---------	-------	---------
Carrying amount
At 30 November 2021	96,599	7,334	103,933
	---------	-------	---------
At 30 November 2020	53,454	3,080	56,534
	---------	-------	---------

6. Debtors

	2021	2020
	£	£
Trade debtors	252,908	159,358
Other debtors	11,917	2,625
	---------	---------
	264,825	161,983
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	111,959	138,613
Corporation tax	62,074	15,393
Social security and other taxes	51,567	44,179
Other creditors	2,065	41,157
	---------	---------
	227,665	239,342
	---------	---------

8. Directors' advances, credits and guarantees