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Company registration number: 05947851







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


INTERACTIVE MEDICA LIMITED






































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INTERACTIVE MEDICA LIMITED
 


 
COMPANY INFORMATION


Directors
AR Baker (appointed 11 November 2024)
JR Carney (appointed 27 June 2024)
SP Harvey (appointed 27 June 2024, resigned 30 September 2024)
GL Millward (resigned 27 June 2024)
MF Milner (resigned 27 June 2024)




Registered number
05947851



Registered office
5th Floor, Aldgate Tower
2 Leman Street

London

E1 8FA




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


INTERACTIVE MEDICA LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Statement of Changes in Equity
2
Notes to the Financial Statements
3 - 7


 


INTERACTIVE MEDICA LIMITED
REGISTERED NUMBER:05947851



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

Unaudited
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,385,472
5,354,186

  
2,385,472
5,354,186

Creditors: amounts falling due within one year
 5 
(276,365)
(3,839,233)

Net current assets
  
 
 
2,109,107
 
 
1,514,953

Total assets less current liabilities
  
2,109,107
1,514,953

  

Net assets
  
2,109,107
1,514,953


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
 7 
2,109,007
1,514,853

  
2,109,107
1,514,953


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




AR Baker
Director

Date: 26 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 


INTERACTIVE MEDICA LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
100
753,615
753,715


Comprehensive income for the year

Profit for the year
-
761,238
761,238



At 1 July 2023
100
1,514,853
1,514,953


Comprehensive income for the year

Profit for the year
-
594,154
594,154


At 30 June 2024
100
2,109,007
2,109,107


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


INTERACTIVE MEDICA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Interactive Medica Limited’s ('the Company') principal activity for the year was the provision of internet based management tools for the pharmaceutical industry. The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 5th Floor, Aldgate Tower, 2 Leman Street, London, England, E1 8FA

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that they are satisfied that the Company has adequate resources to continue in business for the foreseeable future, being a period of at least 12 months from the date of the approval of the financial statements. 
For these reasons the directors continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


INTERACTIVE MEDICA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is measured at the transaction price and represents amounts receivable for goods and services provided in the normal course of business, net of discounts VAT and other sales related taxes.
Revenue is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer. An asset is transferred when the customer obtains control of that asset. Revenue is recognised over time when a performance obligation is satisfied by the customer simultaneously receiving and consuming the benefits over the period of the contract.
When payment is received in advance of a performance obligation being satisfied it is recorded on the balance sheet as deferred revenue. Revenue is then recognised at the point in time, or over the period that the performance obligation is satisfied.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

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

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:

Financial assets and financial liabilities are initially measured at fair value. 

Financial assets

All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.

Fair value through profit or loss

All of the Company's financial assets are subsequently measured at fair value at the end of each reporting
Page 4

 


INTERACTIVE MEDICA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

period, with any fair value gains or losses being recognised in profit or loss to the extent they are not part of a designated hedging relationship. The net gain or loss recognised in profit or loss includes any dividend or interest earned on the financial asset. 

Impairment of financial assets

The Company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.

Financial liabilities

Fair value through profit or loss

Financial liabilities are classified as at fair value through profit or loss, when the financial liability is held for trading, or is designated as at fair value through profit or loss. This designation may be made if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise, or the financial liability forms part of a group of financial instruments which is managed and its performance is evaluated on a fair value basis, or the financial liability forms part of a contract containing one or more embedded derivatives, and IFRS 9 permits the entire combined contract to be designated as at fair value through profit or loss. Any gains or losses arising on changes in fair value are recognised in profit or loss to the extent that they are not part of a designated hedging relationship.

At amortised cost

Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Debtors

Unaudited
2024
2023
£
£


Amounts owed by group undertakings
2,362,282
5,345,636

Prepayments and accrued income
23,190
8,550

2,385,472
5,354,186


Page 5

 


INTERACTIVE MEDICA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.Debtors (continued)

Amounts owed by group undertakings are unsecured, interest free and receivable on demand.
Amounts owed by group undertakings for the 2023 period, include balances that correspond to third party invoices that were issued in the name of the Company but which have or will be settled to Wilmington Shared Services Limited on behalf of the Company. Wilmington Shared Services Limited provides services to the Company and other group companies, and the outstanding third party invoices arising from that activity are classified as trade debtors in its financial statements, which can be obtained at www.companieshouse.gov.uk.


5.


Creditors: Amounts falling due within one year

Unaudited
2024
2023
£
£

Amounts owed to group undertakings
-
3,702,108

Corporation tax
198,050
64,562

Accruals and deferred income
78,315
72,563

276,365
3,839,233


Amounts owed to group undertakings are unsecured, interest free and receivable on demand.


6.


Share capital

Unaudited
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100

Each ordinary share holds equal voting and dividend rights.



7.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses


8.


Controlling party

During the period, the Company was a wholly owned subsidiary of Interactive Medica SL and of its ultimate parent, Wilmington Plc.
On 27June 2024, Interactive Medica SL was purchased by Inspirit Franklin Holdings Limited. 
The ultimate controlling party at the balance sheet date is considered to be Inspirit Franklin Topco Limited.

Page 6

 


INTERACTIVE MEDICA LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 27 June 2025 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7