Company Registration No. 09872976 (England and Wales)
INERTIA BUSINESS SOLUTIONS LIMITED
Unaudited accounts
for the year ended 30 November 2023
INERTIA BUSINESS SOLUTIONS LIMITED
Unaudited accounts
Contents
INERTIA BUSINESS SOLUTIONS LIMITED
Company Information
for the year ended 30 November 2023
Company Number
09872976 (England and Wales)
Registered Office
36 PARKSHIEL
SOUTH SHIELDS
NE34 8BU
ENGLAND
Accountants
Gina Caceres-Jimenez
LONSDALE FINANCIAL LTD
FIRST FLOOR, 10 FAIRFIELD TERRACE
PELAW
GATESHEAD
Tyne and Wear
NE10 0QR
INERTIA BUSINESS SOLUTIONS LIMITED
Accountants' report
Accountants' report to the director of INERTIA BUSINESS SOLUTIONS LIMITED on the preparation of the unaudited statutory accounts for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
INERTIA BUSINESS SOLUTIONS LIMITED for the year ended
30 November 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of INERTIA BUSINESS SOLUTIONS LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of INERTIA BUSINESS SOLUTIONS LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than INERTIA BUSINESS SOLUTIONS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that INERTIA BUSINESS SOLUTIONS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of INERTIA BUSINESS SOLUTIONS LIMITED. You consider that INERTIA BUSINESS SOLUTIONS LIMITED 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 accounts of INERTIA BUSINESS SOLUTIONS LIMITED. 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 accounts.
Gina Caceres-Jimenez
LONSDALE FINANCIAL LTD
FIRST FLOOR, 10 FAIRFIELD TERRACE
PELAW
GATESHEAD
Tyne and Wear
NE10 0QR
11 March 2024
INERTIA BUSINESS SOLUTIONS LIMITED
Statement of financial position
as at 30 November 2023
Investment property
93,820
93,820
Cash at bank and in hand
4,858
2,830
Creditors: amounts falling due within one year
(1,035)
(757)
Net current assets
4,075
2,330
Total assets less current liabilities
97,895
96,150
Creditors: amounts falling due after more than one year
(48,980)
(48,980)
Called up share capital
10
10
Profit and loss account
48,905
47,160
Shareholders' funds
48,915
47,170
For the year ending 30 November 2023 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 11 March 2024 and were signed on its behalf by
Paul Bell
Director
Company Registration No. 09872976
INERTIA BUSINESS SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
INERTIA BUSINESS SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09872976. The registered office is 36 PARKSHIEL, SOUTH SHIELDS, NE34 8BU, ENGLAND.
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 accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Deferred Tax is applied to account for accelerated capital allowances & where Corporation Tax relief is give on carried forward losses
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
INERTIA BUSINESS SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Computer equipment
Fair value at 1 December 2022
93,820
At 30 November 2023
93,820
There has been no re-valuation or material deviation in value from the previous year value of Investment property held.
A prior year adjustment has been carried out to reflect actual purchase price and value of property and associated capital assets held and to accurately reflect the property loan via way of interest only mortgage outstanding.
Amounts falling due within one year
Deferred tax asset
252
257
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
535
257
8
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
48,980
48,980
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).