Management Inspirations Limited - Accounts to registrar (filleted) - small 22.3

Management Inspirations Limited - Accounts to registrar (filleted) - small 22.3

MANAGEMENT INSPIRATIONS LIMITED - Company Information

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REGISTERED NUMBER: 05174598 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2022

FOR

MANAGEMENT INSPIRATIONS LIMITED
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANAGEMENT INSPIRATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2022







DIRECTOR: R S Carpenter





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 05174598 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 1
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)

BALANCE SHEET
31ST JULY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 565 -

CURRENT ASSETS
Debtors 5 28,420 21,964
Cash at bank and in hand 6,748 9,732
35,168 31,696
CREDITORS
Amounts falling due within one year 6 25,053 15,901
NET CURRENT ASSETS 10,115 15,795
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,680
15,795

CREDITORS
Amounts falling due after more than one
year
7
(8,306
)
(14,762
)

PROVISIONS FOR LIABILITIES (152 ) (152 )
NET ASSETS 2,222 881

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,122 781
SHAREHOLDERS' FUNDS 2,222 881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2022 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 notes form part of these financial statements

Page 2 continued...
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)

BALANCE SHEET - continued
31ST JULY 2022


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 24th March 2023 and were signed by:





R S Carpenter - Director


The notes form part of these financial statements

Page 3
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2022

1. STATUTORY INFORMATION

Management Inspirations 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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

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 - 50% on cost
Computer equipment - 50% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Page 4 continued...
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2022

2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st August 2021 4,144 6,810 10,954
Additions 678 - 678
At 31st July 2022 4,822 6,810 11,632
DEPRECIATION
At 1st August 2021 4,144 6,810 10,954
Charge for year 113 - 113
At 31st July 2022 4,257 6,810 11,067
NET BOOK VALUE
At 31st July 2022 565 - 565
At 31st July 2021 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,680 -
Other debtors 20,740 21,964
28,420 21,964

Page 5 continued...
MANAGEMENT INSPIRATIONS LIMITED (REGISTERED NUMBER: 05174598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 6,240 9,252
Trade creditors 483 370
Taxation and social security 2,467 1,087
Other creditors 15,863 5,192
25,053 15,901

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 8,306 14,762

Page 6