Company No: 05103427 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Statement of Changes in Equity
• Notes to the Abridged Financial Statements

DIRECTORS	Naseem Banu Beebeejaun
	Razia Majothi
	Natasha Louise Morrell
	Stephen Jonathan Morrell

REGISTERED OFFICE	Wellington House Aviator Court
	Clifton Moor
	York
	YO30 4UZ
	United Kingdom

COMPANY NUMBER

05103427 (England and Wales)

ACCOUNTANT	Brodericks (York) Ltd
	Wellington House
	York
	Y)30 4UZ

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	4	2,707,514		1,261,533
		2,707,514		1,261,533
Current assets
Debtors		2,897		6,461
Cash at bank and in hand		6,918		103,817
		9,815		110,278
Creditors: amounts falling due within one year		( 432,631)		( 287,971)
Net current liabilities		(422,816)		(177,693)
Total assets less current liabilities		2,284,698		1,083,840
Creditors: amounts falling due after more than one year		( 1,534,787)		( 588,701)
Provision for liabilities	5	0		( 78,355)
Net assets		749,911		416,784
Capital and reserves
Called-up share capital	6	100		99
Revaluation reserve		400,000		0
Profit and loss account		349,811		416,685
Total shareholders' funds		749,911		416,784

For the financial year ending 30 April 2023 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered,
• All of the members of Inspire To Independence (Property) Limited have consented to the preparation of the abridged financial statements for the financial year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements of Inspire To Independence (Property) Limited (registered number: 05103427) were approved and authorised for issue by the Board of Directors on 09 January 2024. They were signed on its behalf by:

Naseem Banu Beebeejaun Director

	Called-up share capital		Revaluation reserve		Profit and loss account		Total
	£		£		£		£
At 01 May 2021	99		0		397,041		397,140
Profit for the financial year	0		0		23,644		23,644
Total comprehensive income	0		0		23,644		23,644
Dividends paid on equity shares	0		0		( 4,000)		( 4,000)
At 30 April 2022	99		0		416,685		416,784
At 01 May 2022	99		0		416,685		416,784
Loss for the financial year	0		0		( 66,874)		( 66,874)
Gain arising on fair value movement of tangible fixed assets	0		400,000		0		400,000
Total comprehensive income	0		400,000		( 66,874)		333,126
Issue of share capital	1		0		0		1
At 30 April 2023	100		400,000		349,811		749,911

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Inspire To Independence (Property) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House Aviator Court, Clifton Moor, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	1 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tax on (loss)/profit

	2023		2022
	£		£
Current tax on (loss)/profit
UK corporation tax	( 2,059)		1,986
Total current tax	( 2,059)		1,986
Deferred tax
Origination and reversal of timing differences	( 78,355)		0
Total deferred tax	( 78,355)		0
Total tax on (loss)/profit	( 80,414)		1,986

Tax reconciliation

The tax assessed for the year is lower than (2022: higher than) the standard rate of corporation tax in the UK:

	2023		2022
	£		£
(Loss)/profit before taxation	(147,288)		25,630
Tax on (loss)/profit at standard UK corporation tax rate of 0.00% (2022: 0.00%)	0		0
Total tax charge for year	0		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 May 2022	1,250,000		24,790		1,274,790
Additions	1,018,594		32,276		1,050,870
Disposals	0		( 10,249)		( 10,249)
Revaluation	400,000		0		400,000
At 30 April 2023	2,668,594		46,817		2,715,411
Accumulated depreciation
At 01 May 2022	0		13,257		13,257
Charge for the financial year	0		4,888		4,888
Disposals	0		( 10,248)		( 10,248)
At 30 April 2023	0		7,897		7,897
Net book value
At 30 April 2023	2,668,594		38,920		2,707,514
At 30 April 2022	1,250,000		11,533		1,261,533

5. Deferred tax

	2023		2022
	£		£
At the beginning of financial year	( 78,355)		( 78,355)
Credited to the Profit and Loss Account	78,355		0
At the end of financial year	0		( 78,355)

6. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2022: 99 shares of £ 1.00 each)	100		99