Orchard Pharm Limited 31/03/2022 iXBRL

Orchard Pharm Limited 31/03/2022 iXBRL

ORCHARD PHARM LIMITED - Company Information

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0 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 04600653 2021-04-01 2022-03-31 04600653 2022-03-31 04600653 2021-03-31 04600653 2020-04-01 2021-03-31 04600653 2021-03-31 04600653 2020-03-31 04600653 core:NetGoodwill 2021-04-01 2022-03-31 04600653 bus:RegisteredOffice 2021-04-01 2022-03-31 04600653 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 04600653 bus:Director1 2021-04-01 2022-03-31 04600653 bus:CompanySecretary1 2021-04-01 2022-03-31 04600653 core:NetGoodwill 2022-03-31 04600653 core:LandBuildings core:ShortLeaseholdAssets 2021-03-31 04600653 core:FurnitureFittingsToolsEquipment 2021-03-31 04600653 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 04600653 core:FurnitureFittingsToolsEquipment 2022-03-31 04600653 core:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 04600653 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04600653 core:WithinOneYear 2022-03-31 04600653 core:WithinOneYear 2021-03-31 04600653 core:ShareCapital 2022-03-31 04600653 core:ShareCapital 2021-03-31 04600653 core:RetainedEarningsAccumulatedLosses 2022-03-31 04600653 core:RetainedEarningsAccumulatedLosses 2021-03-31 04600653 core:ShareCapital 2020-03-31 04600653 core:RetainedEarningsAccumulatedLosses 2020-03-31 04600653 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 04600653 core:NetGoodwill 2021-03-31 04600653 core:LandBuildings core:ShortLeaseholdAssets 2021-03-31 04600653 core:FurnitureFittingsToolsEquipment 2021-03-31 04600653 bus:Director1 2021-03-31 04600653 bus:Director1 2022-03-31 04600653 bus:Director1 2020-03-31 04600653 bus:Director1 2021-03-31 04600653 bus:Director1 2020-04-01 2021-03-31 04600653 bus:SmallEntities 2021-04-01 2022-03-31 04600653 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 04600653 bus:FullAccounts 2021-04-01 2022-03-31 04600653 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 04600653 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31
Company registration number: 04600653
Orchard Pharm Limited
Unaudited filleted financial statements
31 March 2022
Orchard Pharm Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Orchard Pharm Limited
Directors and other information
Directors Mr. R K Patel
Secretary Mrs. D Patel
Company number 04600653
Registered office 228 Portland Crescent
Stanmore
Middlesex
HA7 1LS
Business address Orchard Shopping Centre
18 Orchard Shopping Centre
Haywards Heath
West Sussex
RH16 4LA
Accountants Pandit & Associates Limited
Portland House
228 Portland Crescent
Stanmore
Middlesex
HA7 1LS
Bankers Barclays Bank Plc
90-92 High Street
Crawley
West Sussex
RH10 1BP
Solicitors R R Sanghvi & Co.
Sherwood House
176 Northolt Road
South Harrow
Middlesex HA2 0NP
Orchard Pharm Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Orchard Pharm Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Orchard Pharm Limited for the year ended 31 March 2022 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Orchard Pharm Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Orchard Pharm Limited and state those matters that we have agreed to state to the board of directors of Orchard Pharm Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orchard Pharm Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Orchard Pharm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Orchard Pharm Limited. You consider that Orchard Pharm Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Orchard Pharm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Pandit & Associates Limited
Chartered Certified Accountants
Portland House
228 Portland Crescent
Stanmore
Middlesex
HA7 1LS
28 October 2022
Orchard Pharm Limited
Statement of financial position
31 March 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 350,000 350,000
Tangible assets 6 23,472 7,852
_______ _______
373,472 357,852
Current assets
Stocks 40,000 40,000
Debtors 7 49,508 52,015
Cash at bank and in hand 172,340 62,541
_______ _______
261,848 154,556
Creditors: amounts falling due
within one year 8 ( 221,006) ( 200,501)
_______ _______
Net current assets/(liabilities) 40,842 ( 45,945)
_______ _______
Total assets less current liabilities 414,314 311,907
_______ _______
Net assets 414,314 311,907
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 414,312 311,905
_______ _______
Shareholders funds 414,314 311,907
_______ _______
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 October 2022 , and are signed on behalf of the board by:
Mr. R K Patel
Director
Company registration number: 04600653
Orchard Pharm Limited
Statement of changes in equity
Year ended 31 March 2022
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2020 2 273,942 273,944
Profit for the year 37,963 37,963
_______ _______ _______
Total comprehensive income for the year - 37,963 37,963
_______ _______ _______
At 31 March 2021 and 1 April 2021 2 311,905 311,907
Profit for the year 117,407 117,407
_______ _______ _______
Total comprehensive income for the year - 117,407 117,407
Dividends paid and payable ( 15,000) ( 15,000)
_______ _______ _______
Total investments by and distributions to owners - ( 15,000) ( 15,000)
_______ _______ _______
At 31 March 2022 2 414,312 414,314
_______ _______ _______
Orchard Pharm Limited
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Portland House, 228 Portland Crescent, Stanmore, Middlesex, HA7 1LS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Goodwill
tThe company's accounting policy is to capitalise purchased goodwill. In the opinion of the directors, the value of goodwill has been maintained and therefore for the financial statements to give a true and fair view they consider it inappropriate to amortise its value.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2021 and 31 March 2022 350,000 350,000
_______ _______
Amortisation
At 1 April 2021 and 31 March 2022 - -
_______ _______
Carrying amount
At 31 March 2022 350,000 350,000
_______ _______
At 31 March 2021 350,000 350,000
_______ _______
6. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2021 887 72,859 73,746
Additions - 19,606 19,606
_______ _______ _______
At 31 March 2022 887 92,465 93,352
_______ _______ _______
Depreciation
At 1 April 2021 - 65,894 65,894
Charge for the year - 3,986 3,986
_______ _______ _______
At 31 March 2022 - 69,880 69,880
_______ _______ _______
Carrying amount
At 31 March 2022 887 22,585 23,472
_______ _______ _______
At 31 March 2021 887 6,965 7,852
_______ _______ _______
7. Debtors
2022 2021
£ £
Trade debtors 8,350 41,816
Other debtors 41,158 10,199
_______ _______
49,508 52,015
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 50,409 36,220
Corporation tax 22,406 9,083
Social security and other taxes 2,376 1,102
Other creditors 145,815 154,096
_______ _______
221,006 200,501
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr. R K Patel ( 152,175) 8,334 ( 143,841)
_______ _______ _______
2021
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr. R K Patel ( 173,029) 20,854 ( 152,175)
_______ _______ _______
10. Controlling party
During the year the company was under the control of Mr. R K Patel the director and shareholder of the company.