Company Registration No. 09145885 (England and Wales)
Inspired Freedom Ltd
Unaudited accounts
for the year ended 31 July 2020
Inspired Freedom Ltd
Unaudited accounts
Contents
Inspired Freedom Ltd
Company Information
for the year ended 31 July 2020
Company Number
09145885 (England and Wales)
Registered Office
Kemp House
160 City Road
London
EC1V 2NX
United Kingdom
Accountants
Svetlana Makusheva
81 Kimberley Gardens, London
N4 1LD
Inspired Freedom Ltd
Statement of financial position
as at
31 July 2020
Cash at bank and in hand
5,684
2,538
Creditors: amounts falling due within one year
(19,815)
(11,603)
Net current liabilities
(131)
(2,220)
Net liabilities
(131)
(2,188)
Called up share capital
1
1
Profit and loss account
(132)
(2,189)
Shareholders' funds
(131)
(2,188)
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 March 2021 and were signed on its behalf by
G Both
Director
Company Registration No. 09145885
Inspired Freedom Ltd
Notes to the Accounts
for the year ended 31 July 2020
Inspired Freedom Ltd is a private company, limited by shares, registered in England and Wales, registration number 09145885. The registered office is Kemp House, 160 City Road, London, EC1V 2NX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The balance sheet shows a deficit of £131 (2019: £2,188). The director, by taking account of all relevant information currently available, considers that the company will be able to meet all debts as they fall due. The director has indicated his wilingness to support the company for the foreseeable future. Under these circumstances, the director is of the opinion that it is appropriate for the financial statements to be prepared on a going concern basis.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Computer equipment
33.33% straight line
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
Inspired Freedom Ltd
Notes to the Accounts
for the year ended 31 July 2020
Trade debtors
1,500
6,845
Total debtors less than one year
14,000
6,845
Total debtors
14,000
6,845
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
18,010
2,028
Taxes and social security
1,780
4,312
Loans from directors
25
5,263
7
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1
1
8
Transactions with related parties
Loans to the value of £12,500 were given to Elemental Edge Ltd, a company in which G Both is a director.
9
Average number of employees
During the year the average number of employees was 1 (2019: 1).