Data Inspires Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08552297 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Data Inspires Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

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

769

1,125

CURRENT ASSETS

Debtors

5

21,411

12,088

Cash at bank

21,854

16,430

43,265

28,518

CREDITORS

Amounts falling due within one year

6

42,528

28,078

NET CURRENT ASSETS

737

440

TOTAL ASSETS LESS CURRENT LIABILITIES

1,506

1,565

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,504

1,563

SHAREHOLDERS' FUNDS

1,506

1,565

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 January 2018 and were signed by:

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 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.

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 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

2,297

Additions

213

At 31 May 2017

2,510

DEPRECIATION

At 1 June 2016

1,172

Charge for year

569

At 31 May 2017

1,741

NET BOOK VALUE

At 31 May 2017

769

At 31 May 2016

1,125

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

21,411

12,088

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

236

620

Taxation and social security

21,716

15,279

Other creditors

20,576

12,179

42,528

28,078

7.	FIRST YEAR ADOPTION

The company has transitioned from UK GAAP to FRS102 Section1A as at (first day of the financial year), no

adjustments were required to the 2016 accounts to meet the new standards