PHARMA BOX LTD

PHARMA BOX LTD

PHARMA BOX LTD - Company Information

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PHARMA BOX LTD

Company Registration Number:
09472900 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2020

Period of accounts

Start date: 01 July 2019

End date: 30 June 2020

PHARMA BOX LTD

Contents of the Financial Statements

for the Period Ended 30 June 2020

Balance sheet
Notes

PHARMA BOX LTD

Balance sheet

As at 30 June 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 216,038 223,078
Total fixed assets: 216,038 223,078
Current assets
Stocks: 50,642 42,000
Debtors:   319,158 300,814
Cash at bank and in hand: 91,008 36,023
Total current assets: 460,808 378,837
Creditors: amounts falling due within one year:   (444,867) (361,858)
Net current assets (liabilities): 15,941 16,979
Total assets less current liabilities: 231,979 240,057
Creditors: amounts falling due after more than one year:   (231,879) (239,957)
Total net assets (liabilities): 100 100
Capital and reserves
Called up share capital: 100 100
Shareholders funds: 100 100

The notes form part of these financial statements

PHARMA BOX LTD

Balance sheet statements

For the year ending 30 June 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 April 2021
and signed on behalf of the board by:

Name: Imran Skhawat
Status: Director

The notes form part of these financial statements

PHARMA BOX LTD

Notes to the Financial Statements

for the Period Ended 30 June 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue recognitionTurnover 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.

Tangible fixed assets and depreciation policy

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

Valuation and information policy

StocksStocks 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.

Other accounting policies

BorrowingsInterest-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.Defined contribution pension obligationthe Company operates a defined contribution pension scheme. 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 charged to profit and loss in the period when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

PHARMA BOX LTD

Notes to the Financial Statements

for the Period Ended 30 June 2020

2. Employees

2020 2019
Average number of employees during the period 13 12

PHARMA BOX LTD

Notes to the Financial Statements

for the Period Ended 30 June 2020

3. Tangible Assets

Total
Cost £
At 01 July 2019 236,111
Additions 1,445
At 30 June 2020 237,556
Depreciation
At 01 July 2019 13,033
Charge for year 8,485
At 30 June 2020 21,518
Net book value
At 30 June 2020 216,038
At 30 June 2019 223,078

PHARMA BOX LTD

Notes to the Financial Statements

for the Period Ended 30 June 2020

4. Financial commitments

The total amount of financial commitments not included in the balance sheet is £3,871 (2019 - £489).