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Registration number: 06454550

IPG Pharma Ltd

Unaudited Filleted Financial Statements

for the Period from 29 June 2024 to 31 May 2025

 

IPG Pharma Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

IPG Pharma Ltd

Company Information

Directors

Mr DK Bilton

Mrs KE Daubney

Registered office

The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

 

IPG Pharma Ltd

(Registration number: 06454550)
Balance Sheet as at 31 May 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

250,000

1,792,592

Tangible assets

5

-

1,165

 

250,000

1,793,757

Current assets

 

Stocks

6

-

500

Debtors

7

-

157,121

Cash at bank and in hand

 

-

9,164

 

-

166,785

Creditors: Amounts falling due within one year

8

-

(420,553)

Net current liabilities

 

-

(253,768)

Total assets less current liabilities

 

250,000

1,539,989

Provisions for liabilities

-

(339,590)

Net assets

 

250,000

1,200,399

Capital and reserves

 

Called up share capital

9

2

2

Revaluation reserve

-

404,625

Retained earnings

249,998

795,772

Shareholders' funds

 

250,000

1,200,399

For the financial period ending 31 May 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 period 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 and 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 9 July 2025 and signed on its behalf by:
 

.........................................
Mr DK Bilton
Director

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 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:
The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

The principal place of business is:
The Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

These financial statements were authorised for issue by the Board on 9 July 2025.

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Purchase transactions with foreign companies are conducted using the suppliers unit of currency. These balances are converted to sterling at the invoice date and then at the payment date with the difference going to foreign exchange (gains)/losses. Foreign currency balances at the year end are converted to sterling as at the year end date.

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Motor Vehicles

33% on cost

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

indefiniate useful life so regular review for amortisation

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.

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2024 - 6).

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

4

Intangible assets

Trademarks, patents and licenses
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 29 June 2024

1,540,592

252,000

1,792,592

Disposals

(1,290,592)

(252,000)

(1,542,592)

At 31 May 2025

250,000

-

250,000

Amortisation

Carrying amount

At 31 May 2025

250,000

-

250,000

At 28 June 2024

1,540,592

252,000

1,792,592

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 29 June 2024

34,951

1,000

27,483

63,434

Disposals

-

-

(1,165)

(1,165)

At 31 May 2025

34,951

1,000

26,318

62,269

Depreciation

At 29 June 2024

34,951

1,000

26,318

62,269

At 31 May 2025

34,951

1,000

26,318

62,269

Carrying amount

At 31 May 2025

-

-

-

-

At 28 June 2024

-

-

1,165

1,165

6

Stocks

2025
£

2024
£

Other inventories

-

500

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

7

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

-

131,689

Amounts owed by related parties

-

19,311

Other debtors

 

-

6,121

   

-

157,121

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

61,438

Taxation and social security

-

11,797

Accruals and deferred income

-

11,435

Other creditors

-

167

Pharmadreams

-

335,716

-

420,553

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(404,625)

(404,625)

 

IPG Pharma Ltd

Notes to the Unaudited Financial Statements for the Period from 29 June 2024 to 31 May 2025

11

Dividends

2025

2024

£

£

 

 

Any dividends declared in the period are disclosed in the Statement of Income and Retained Earnings.