Data Inspires Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08552297 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

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

276

302

CURRENT ASSETS

Debtors

5

15,002

16,380

Cash at bank

14,166

36,987

29,168

53,367

CREDITORS

Amounts falling due within one year

6

28,446

43,424

NET CURRENT ASSETS

722

9,943

TOTAL ASSETS LESS CURRENT LIABILITIES

998

10,245

PROVISIONS FOR LIABILITIES

23

57

NET ASSETS

975

10,188

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

973

10,186

SHAREHOLDERS' FUNDS

975

10,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 29 February 2024 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 (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2022

788

1,895

2,683

Additions

-

152

152

At 31 May 2023

788

2,047

2,835

DEPRECIATION

At 1 June 2022

673

1,708

2,381

Charge for year

29

149

178

At 31 May 2023

702

1,857

2,559

NET BOOK VALUE

At 31 May 2023

86

190

276

At 31 May 2022

115

187

302

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

14,698

16,332

Prepayments

304

48

15,002

16,380

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

306

-

Corporation tax

10,335

21,282

VAT

3,173

3,276

Other creditors

-

49

Director's current account

14,632

18,817

28,446

43,424

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

2

2

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £53,000 (2022 - £40,134) 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.