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Registration number: 07125386

Inspired Pharma Training Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Inspired Pharma Training Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Inspired Pharma Training Limited

(Registration number: 07125386)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

6,497

6,353

Current assets

 

Debtors

5

158,328

90,312

Cash at bank and in hand

 

76,830

98,902

 

235,158

189,214

Creditors: Amounts falling due within one year

6

(238,552)

(190,764)

Net current liabilities

 

(3,394)

(1,550)

Net assets

 

3,103

4,803

Capital and reserves

 

Called up share capital

2

2

Retained earnings

3,101

4,801

Shareholders' funds

 

3,103

4,803

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 May 2025 and signed on its behalf by:
 

.........................................
Mr D Parry
Director

 

Inspired Pharma Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Spaces Waterside Drive
Theale
Reading
Berkshire
RG7 4SA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of pharmaceutical consultancy and training services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Inspired Pharma Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Asset class

Depreciation method and rate

Office equipment

33% straight line

Furniture and fittings

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for pharmaceutical consultancy and training services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

 

Inspired Pharma Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2024

4,996

42,954

47,950

Additions

-

1,520

1,520

At 31 January 2025

4,996

44,474

49,470

Depreciation

At 1 February 2024

1,811

39,786

41,597

Charge for the year

500

876

1,376

At 31 January 2025

2,311

40,662

42,973

Carrying amount

At 31 January 2025

2,685

3,812

6,497

At 31 January 2024

3,185

3,168

6,353

5

Debtors

Current

2025
£

2024
£

Trade debtors

58,973

89,394

Prepayments

1,363

918

Other debtors

97,992

-

 

158,328

90,312

 

Inspired Pharma Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

13,874

9,712

Taxation and social security

115,174

87,159

Other creditors

109,504

93,893

238,552

190,764

7

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Mr D Parry

Directors Loan

(5,980)

121,391

(17,419)

97,992

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr D Parry

Directors Loan

(14,118)

26,061

(17,923)

(5,980)