Inspired Health Limited - Limited company accounts 16.3

REGISTERED NUMBER: 08346057 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2017

for

Inspired Health Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mrs C Lane

SECRETARY:

REGISTERED OFFICE:

Gemini House

136-140 Old Shoreham Road

Hove

Brighton

BN3 7BD

REGISTERED NUMBER:

08346057 (England and Wales)

ACCOUNTANTS:

M Chilton Accountancy Services Limited

16 Reed Mace Drive

Bromsgrove

Worcestershire

B61 0UJ

The director presents her report with the financial statements of the company for the year ended 31 January 2017.

COMMENCEMENT OF TRADING

The company had not commenced trading as at the balance sheet date.

DIRECTOR

Mrs C Lane held office during the whole of the period from 1 February 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs C Lane - Director

31 October 2017

TURNOVER

-

-

Administrative expenses

735

83

OPERATING LOSS and

LOSS BEFORE TAXATION

(735

)

(83

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(735

)

(83

)

FIXED ASSETS

Intangible assets

3

14,700

14,700

CURRENT ASSETS

Stocks

18,074

-

Debtors

4

437

-

18,511

-

CREDITORS

Amounts falling due within one year

5

(1

)

-

NET CURRENT ASSETS

18,512

-

TOTAL ASSETS LESS CURRENT LIABILITIES

33,212

14,700

CREDITORS

Amounts falling due after more than one year

6

(37,195

)

(17,955

)

ACCRUALS AND DEFERRED INCOME

(90

)

(83

)

NET LIABILITIES

(4,073

)

(3,338

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,173

)

(3,438

)

SHAREHOLDERS' FUNDS

(4,073

)

(3,338

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 October 2017 and were signed by:

Mrs C Lane - Director

1.	STATUTORY INFORMATION

Inspired Health 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible asset

The Intangible asset relates to an initial franchise fee which will be amortised over it's useful life once the business

commences trading.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2016

and 31 January 2017

14,700

NET BOOK VALUE

At 31 January 2017

14,700

At 31 January 2016

14,700

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Other debtors

437

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade creditors

(1

)

-

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Other creditors

37,195

17,955

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Other creditors due after one year relates to the amount due to the Director.