ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2018.0.111 2018.0.111 2019-06-302019-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalsefalse2018-07-01General medical practice activities 06756342 2018-07-01 2019-06-30 06756342 2019-06-30 06756342 2018-06-30 06756342 c:Director8 2018-07-01 2019-06-30 06756342 d:MotorVehicles 2018-07-01 2019-06-30 06756342 d:MotorVehicles 2019-06-30 06756342 d:MotorVehicles 2018-06-30 06756342 d:FurnitureFittings 2018-07-01 2019-06-30 06756342 d:FurnitureFittings 2019-06-30 06756342 d:FurnitureFittings 2018-06-30 06756342 d:FurnitureFittings d:OwnedOrFreeholdAssets 2018-07-01 2019-06-30 06756342 d:ComputerEquipment 2018-07-01 2019-06-30 06756342 d:ComputerEquipment 2019-06-30 06756342 d:ComputerEquipment 2018-06-30 06756342 d:OwnedOrFreeholdAssets 2018-07-01 2019-06-30 06756342 d:CurrentFinancialInstruments 2019-06-30 06756342 d:CurrentFinancialInstruments 2018-06-30 06756342 d:CurrentFinancialInstruments d:WithinOneYear 2019-06-30 06756342 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-30 06756342 d:Non-currentFinancialInstruments d:AfterOneYear 2018-06-30 06756342 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2018-06-30 06756342 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2018-06-30 06756342 d:ShareCapital 2019-06-30 06756342 d:ShareCapital 2018-06-30 06756342 d:RetainedEarningsAccumulatedLosses 2019-06-30 06756342 d:RetainedEarningsAccumulatedLosses 2018-06-30 06756342 c:FRS102 2018-07-01 2019-06-30 06756342 c:AuditExempt-NoAccountantsReport 2018-07-01 2019-06-30 06756342 c:FullAccounts 2018-07-01 2019-06-30 06756342 c:PrivateLimitedCompanyLtd 2018-07-01 2019-06-30 06756342 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-07-01 2019-06-30 iso4217:GBP xbrli:pure

Registered number: 06756342










BLACKWATER PHARMA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2019


STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2019

2019
2018
Note
£
£

Fixed assets
  

Tangible assets
 4 
716
3,549

  
716
3,549

Current assets
  

Debtors: amounts falling due within one year
 5 
219,223
162,440

Cash at bank and in hand
  
16,264
141,994

  
235,487
304,434

Creditors: amounts falling due within one year
 6 
(136,970)
(131,227)

Net current assets
  
 
 
98,517
 
 
173,207

Total assets less current liabilities
  
99,233
176,756

Creditors: amounts falling due after more than one year
  
-
(23,334)

  

Net assets
  
99,233
153,422


Capital and reserves
  

Called up share capital 
  
8
8

Profit and loss account
  
99,225
153,414

  
99,233
153,422


Page 1

    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income statement 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 on 9 March 2020.




Dr V Teatino
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


1.


General information

Blackwater Pharma Limited is a private company limited by shares and incorporated in England and Wales, registration number 06756342. The registered office is 8 The Courtyards, Wyncolls Road, Severalls Industrial Park, Colchester, Essex, CO4 9PE.

2.Accounting policie

 
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Income statement on a straight line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to the Income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Income statement in the year in which they are incurred.

Page 3

 
2.6

Taxation

Tax is recognised in the Income statement, 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.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight line
Fixtures and fittings
-
20%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income statement.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2018 - 18).


4.


Tangible fixed asset





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2018
7,499
67,004
16,665
91,168



At 30 June 2019

7,499
67,004
16,665
91,168



Depreciation


At 1 July 2018
7,499
63,455
16,665
87,619


Charge for the year on owned assets
-
2,833
-
2,833



At 30 June 2019

7,499
66,288
16,665
90,452



Net book value



At 30 June 2019
-
716
-
716



At 30 June 2018
-
3,549
-
3,549


5.


Debtors

2019
2018
£
£


Trade debtors
191,459
111,206

VAT recoverable
25,648
49,559

Called up share capital not paid
8
8

Other debtors
204
44

Prepayments and accrued income
1,904
1,623

219,223
162,440


Page 5


6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Bank loans
21,992
22,000

Trade creditors
72,792
71,144

Amounts owed to group undertakings
16,850
3,981

Corporation tax
18,278
27,439

Other taxation and social security
1,553
1,778

Other creditors
505
-

Accruals and deferred income
5,000
4,885

136,970
131,227



7.


Loans


Analysis of the maturity of loans is given below:


2019
2018
£
£

Amounts falling due within one year

Bank loans
21,992
22,000


21,992
22,000

Amounts falling due 1-2 years

Bank loans
-
22,000


-
22,000

Amounts falling due 2-5 years

Bank loans
-
1,334


-
1,334


21,992
45,334


 
Page 6