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REGISTERED NUMBER: 05837417 (England and Wales)















Inspiralis Limited

Unaudited Financial Statements

for the year ended

31 January 2023






Inspiralis Limited (Registered number: 05837417)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 7


Inspiralis Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: A E Blake
N P Burton
A J Howells
A Maxwell
N G Bush





REGISTERED OFFICE: Innovation Centre
Norwich Research Park
Colney Lane
Norwich
Norfolk
NR4 7GJ





REGISTERED NUMBER: 05837417 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Inspiralis Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inspiralis Limited for the year ended 31 January 2023 which comprise the Income Statement, Statement of Financial Position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Inspiralis Limited, 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 Inspiralis Limited and state those matters that we have agreed to state to the Board of Directors of Inspiralis Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inspiralis Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inspiralis Limited 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 Inspiralis Limited. You consider that Inspiralis 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 financial statements of Inspiralis 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 financial statements.






Haines Watts
Chartered Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY


5 October 2023

Inspiralis Limited (Registered number: 05837417)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 120 3,344
Property, plant and equipment 5 166,433 27,500
166,553 30,844

CURRENT ASSETS
Inventories 2,000 2,000
Debtors 6 258,345 301,769
Cash at bank 1,821,923 288,312
2,082,268 592,081
CREDITORS
Amounts falling due within one year 7 (456,114 ) (176,150 )
NET CURRENT ASSETS 1,626,154 415,931
TOTAL ASSETS LESS CURRENT LIABILITIES 1,792,707 446,775

CREDITORS
Amounts falling due after more than one year 8 (30,000 ) (30,000 )

PROVISIONS FOR LIABILITIES (31,622 ) -
NET ASSETS 1,731,085 416,775

CAPITAL AND RESERVES
Called up share capital 891 891
Share premium 6,991 6,991
Retained earnings 1,723,203 408,893
SHAREHOLDERS' FUNDS 1,731,085 416,775

Inspiralis Limited (Registered number: 05837417)

Statement of Financial Position - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




N P Burton - Director



N G Bush - Director


Inspiralis Limited (Registered number: 05837417)

Notes to the Financial Statements
for the year ended 31 January 2023


1. STATUTORY INFORMATION

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

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of six years.

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Patents is being amortised evenly over its estimated useful life of twelve years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on cost

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price.

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.

Taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

Inspiralis Limited (Registered number: 05837417)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 profit or loss in the period to which they relate.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, when it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Trademarks Patents Totals
£    £    £    £   
COST
At 1 February 2022 22,750 300 12,329 35,379
Disposals - - (12,329 ) (12,329 )
At 31 January 2023 22,750 300 - 23,050
AMORTISATION
At 1 February 2022 22,750 150 9,135 32,035
Amortisation for year - 30 - 30
Eliminated on disposal - - (9,135 ) (9,135 )
At 31 January 2023 22,750 180 - 22,930
NET BOOK VALUE
At 31 January 2023 - 120 - 120
At 31 January 2022 - 150 3,194 3,344

Inspiralis Limited (Registered number: 05837417)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 February 2022 127,518
Additions 162,147
Disposals (13,022 )
At 31 January 2023 276,643
DEPRECIATION
At 1 February 2022 100,018
Charge for year 23,214
Eliminated on disposal (13,022 )
At 31 January 2023 110,210
NET BOOK VALUE
At 31 January 2023 166,433
At 31 January 2022 27,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,804 233,541
Other debtors 226,541 68,228
258,345 301,769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 121,491 90,390
Taxation and social security 278,636 48,704
Other creditors 55,987 37,056
456,114 176,150

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 30,000 30,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Unsecured loan 30,000 30,000

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments under non-cancellable operating leases over the remaining life of those leases of £34,493 (31/1/22 - £nil).