Insphere Ltd

(Registration number: 08769144)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	80,073	158,184
Current assets
Stocks	5	356,922	319,927
Debtors	6	273,718	255,236
Cash at bank and in hand		1,141,425	761,797
		1,772,065	1,336,960
Creditors: Amounts falling due within one year	7	(174,586)	(203,260)
Net current assets		1,597,479	1,133,700
Total assets less current liabilities		1,677,552	1,291,884
Creditors: Amounts falling due after more than one year	7	(60,676)	(126,449)
Net assets		1,616,876	1,165,435
Capital and reserves
Called up share capital	9	5,640	3,044
Share premium reserve		7,624,522	5,510,270
Profit and loss account		(6,013,286)	(4,347,879)
Total equity		1,616,876	1,165,435

Insphere Ltd

(Registration number: 08769144)
Balance Sheet as at 31 December 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 17 September 2026 and signed on its behalf by:
 

.........................................

B L Taylor
Director

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

1	Statutory information

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

The address of its registered office is:
Bristol and Bath Science Park
Dirac Crescent
Emersons Green
Bristol
BS16 7FR
England

2	Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

As part of its going concern assessment, the Board has reviewed management’s cashflow forecasts covering the period of twelve months from the date of approval of these financial statements.

Management’s forecasts show that the company will continue to be able to meet its liabilities as they fall due in the next twelve months. The Board will continue to support the company as required along with any steps required to be taken by management to ensure that the company will have adequate resources to be able to continue in operational existence for at least the next twelve months. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

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 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.

For service contracts spanning the end of a reporting period, and where the outcome of the contract can be estimated reliably, revenue is recognised according to the percentage of completion method. The percentage completion is calculated according to the percentage of contract costs incurred by the end of the reporting period. When the outcome of a contract involving the rendering of services cannot be estimated reliably, the company recognises revenue only to the extent of the expenses recognised that are recoverable.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually at the point the goods have been delivered to the customer's premises.

Government grants

Government grants are recognised based on the performance against the conditions in the grant. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current 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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the accounts and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
 

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Tangible fixed assets

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

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

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Fixtures and fittings	Straight-line over 3 years
Motor vehicles	Straight-line over 5 years
Plant and machinery	Straight-line over 4 years

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured 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 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 recognised initially at the transaction price and subsequently measured at amortised cost and using the effective interest method if the balance is due in more than one year.

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital and related costs

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. Those direct costs are charged to the share premium reserve where a premium arose on the related shares.

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.

Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as an expense in the period in which the employees' services are received.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 20).

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

4	Tangible fixed assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment £	Total £
Cost
At 1 January 2025	91,776	34,104	404,787	530,667
Additions	4,182	-	5,779	9,961
Disposals	(23,857)	-	-	(23,857)
At 31 December 2025	72,101	34,104	410,566	516,771
Depreciation
At 1 January 2025	65,161	13,642	293,680	372,483
Charge for the year	19,796	6,821	58,263	84,880
Eliminated on disposal	(20,665)	-	-	(20,665)
At 31 December 2025	64,292	20,463	351,943	436,698
Carrying amount
At 31 December 2025	7,809	13,641	58,623	80,073
At 31 December 2024	26,615	20,462	111,107	158,184

5

Stocks

	2025 £	2024 £
Raw materials	84,823	106,776
Finished goods	272,099	213,151
	356,922	319,927

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

6	Debtors: amounts falling due within one year

	2025 £	2024 £
Trade debtors	7,200	51,588
Other debtors	8,050	13,341
VAT	-	6,797
Prepayments and accrued income	28,457	27,848
Corporation tax	230,011	155,662
	273,718	255,236

7

Creditors

	2025 £	2024 £
Bank borrowings	6,149	10,648
Other loans	66,000	66,000
Trade creditors	42,102	48,436
Taxation and social security	30,171	47,429
Other creditors	3,101	10,007
Accruals and deferred income	27,063	20,740
	174,586	203,260
Due after one year
Loans and borrowings	60,676	126,449

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

8	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	6,149	10,648
Other loans	66,000	66,000
	72,149	76,648

	2025 £	2024 £
Non-current loans and borrowings
Bank borrowings	-	5,850
Other loans	60,676	120,599
	60,676	126,449

The bank loan is a government backed Business Bounce Back Loan, an unsecured loan with a flexible repayment term of 6 years, interest free for the first 12 months and then charged at 2.5% interest thereafter.

The other loan was for £300,000 and is secured on a fixed and floating charge over the company’s assets. The terms of the loan are such that repayment of the capital did not begin until July 2023. Based on planned quarterly repayments from that date the portion of the above balance which is not due to be repaid for at least five years is £nil (2024: £nil).

Insphere Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A Ordinary shares of £0.001 each	1,062,975	1,062.98	1,062,975	1,062.98
Ordinary shares of £0.001 each	1,897,722	1,897.72	1,897,722	1,897.72
Deferred shares of £0.001 each	83,250	83.25	83,250	83.25
B Ordinary shares of £0.001 each	2,595,953	2,595.95	-	-
	5,639,900	5,640	3,043,947	3,044

10	Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
	7,800	9,100

11	Parent and ultimate parent undertaking

In the opinion of the directors, there is no ultimate controlling party of the Company.

12	Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

• The Independent Auditor's Report was unqualified.
• The name of the Senior Statutory Auditor who signed the audit report on 17 September 2026 was David Wright BSc FCA .
• The auditor was Corrigan Accountants Limited.