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REGISTERED NUMBER: 14188580 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Med-Inspire Pharma Ltd

Med-Inspire Pharma Ltd (Registered number: 14188580)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Med-Inspire Pharma Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R R J Woodroffe
B Anwar
C J Hodivala





SECRETARY:





REGISTERED OFFICE: 4 Lynton Parade
Turners Hill
Cheshunt
EN8 8LF





REGISTERED NUMBER: 14188580 (England and Wales)





ACCOUNTANTS: Tasos Papaloizou Chartered Accountants
Suite 1
The Golf Club
Darkes Lane
Potters Bar
EN6 1DE

Med-Inspire Pharma Ltd (Registered number: 14188580)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,079 13,419
Investments 5 421,089 -
440,168 13,419

CURRENT ASSETS
Debtors 6 61,408 2,220
Cash at bank 31,558 211,651
92,966 213,871
CREDITORS
Amounts falling due within one year 7 120,389 2,547
NET CURRENT (LIABILITIES)/ASSETS (27,423 ) 211,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

412,745

224,743

CREDITORS
Amounts falling due after more than one
year

8

451,664

251,680
NET LIABILITIES (38,919 ) (26,937 )

CAPITAL AND RESERVES
Called up share capital 10 6 6
Retained earnings (38,925 ) (26,943 )
SHAREHOLDERS' FUNDS (38,919 ) (26,937 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Med-Inspire Pharma Ltd (Registered number: 14188580)

Balance Sheet - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2025 and were signed on its behalf by:




B Anwar - Director



C J Hodivala - Director


Med-Inspire Pharma Ltd (Registered number: 14188580)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Med-Inspire Pharma Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment 33.33% pa.
Office equipment 15% pa

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Med-Inspire Pharma Ltd (Registered number: 14188580)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 13,419
Additions 13,387
At 30 June 2024 26,806
DEPRECIATION
Charge for year 7,727
At 30 June 2024 7,727
NET BOOK VALUE
At 30 June 2024 19,079
At 30 June 2023 13,419

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 421,089
At 30 June 2024 421,089
NET BOOK VALUE
At 30 June 2024 421,089

Med-Inspire Pharma Ltd (Registered number: 14188580)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS - continued

During the year the company acquired the entire share capital of Cristal Pharmacy Limited.

The company Holds 100% of the Ordinary share capital of Cristal Pharmacy limited
The cost of Investment totals £421,089.

The last reported accounts show the following:
31.03.24
£
Aggregate capital and reserves 13,473
Profit for the year after tax 9,651

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed by group undertakings 25,080 -
Other debtors 36,328 2,220
61,408 2,220

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 53,333 -
Trade creditors 8,089 -
Taxation and social security 22,255 -
Other creditors 36,712 2,547
120,389 2,547

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 217,652 -
Other creditors 234,012 251,680
451,664 251,680

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,319 -
Other loans more 5yrs instal 134,012 -
138,331 -

Med-Inspire Pharma Ltd (Registered number: 14188580)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 270,985 -

The Bank loan is secured by a personal guarantee given by the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
6 Ordinary £1 6 6

Med-Inspire Pharma Ltd

Report of the Accountants to the Directors of
Med-Inspire Pharma Ltd

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 Balance Sheet. 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Tasos Papaloizou Chartered Accountants
Suite 1
The Golf Club
Darkes Lane
Potters Bar
EN6 1DE


Date: .............................................