Inspire Risk Management Ltd - Abbreviated accounts 16.3
Inspire Risk Management Ltd - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| For The Year Ended |
| 31 March 2016 |
| for |
| INSPIRE RISK MANAGEMENT LTD |
| INSPIRE RISK MANAGEMENT LTD (REGISTERED NUMBER: 06509349) |
| Contents of the Abbreviated Accounts |
| For The Year Ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Certified Accountants' Report | 5 |
| INSPIRE RISK MANAGEMENT LTD |
| Company Information |
| For The Year Ended 31 March 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| INSPIRE RISK MANAGEMENT LTD (REGISTERED NUMBER: 06509349) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 31.3.16 | 31.3.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors on by: |
| INSPIRE RISK MANAGEMENT LTD (REGISTERED NUMBER: 06509349) |
| Notes to the Abbreviated Accounts |
| For The Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents the net commissions earned on business written by the company in the year and is |
| recognised as such when the premium has been accepted by the insurance company. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets are initially recognised at cost and are subsequently carried in the company's balance |
| sheet using the depreciated historic cost model and are carried net of depreciation and impairment. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date where transactions or events that result in an obligation to may more tax in the future or a |
| right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences |
| between the company's taxable profits and its results as stated in the financial statements that arise from the |
| inclusion of gains and losses in tax assessments in periods different to those in which they are recognised in the |
| financial statements. |
| A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the |
| basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable |
| profits from which the future reversal of the underlying timing differences can be deducted. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing |
| differences are expected to reverse, based on tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to the profit and loss account in the period to which they relate. |
| Financial instruments |
| Financial instruments are classified and accounted for according to the substance of the contractual |
| arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract |
| that evidences a residual interest in the assets of the company after deducting all liabilities. |
| INSPIRE RISK MANAGEMENT LTD (REGISTERED NUMBER: 06509349) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31 March 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
| value: | £ | £ |
| NIL | Ordinary | £1 |
| (31.3.15 - |
| Ordinary A | £1 |
| Ordinary B | £1 |
| Ordinary C | £1 |
| 100 | 100 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2016 and |
| 31 March 2015: |
| 31.3.16 | 31.3.15 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| Chartered Certified Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Inspire Risk Management Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Inspire Risk Management Ltd for the year ended 31 March 2016 which comprise the Profit and |
| Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information |
| and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Inspire Risk Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inspire Risk Management Ltd and state those matters that we have agreed to state to the Board of Directors of Inspire Risk Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Inspire Risk Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Inspire Risk Management Ltd. You consider that Inspire Risk Management Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Inspire Risk Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Date: ............................................. |