Reliance Pharma Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07005420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

RELIANCE PHARMA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

R C Dahya

SECRETARY:

REGISTERED OFFICE:

123 Crowborough Road

London

SW17 9QD

REGISTERED NUMBER:

07005420 (England and Wales)

ACCOUNTANTS:

Sherwoods

Chartered Certified Accountants

83 High Street

West Wickham

Kent

BR4 0LS

FIXED ASSETS

Intangible assets

4

329,067

387,133

Tangible assets

5

988

1,482

330,055

388,615

CURRENT ASSETS

Stocks

39,500

34,250

Debtors

6

226,402

148,267

Cash at bank

342,145

225,075

608,047

407,592

CREDITORS

Amounts falling due within one year

7

334,978

337,494

NET CURRENT ASSETS

273,069

70,098

TOTAL ASSETS LESS CURRENT LIABILITIES

603,124

458,713

CREDITORS

Amounts falling due after more than one year

8

232,989

278,451

NET ASSETS

370,135

180,262

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

370,035

180,162

370,135

180,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2021 and were signed by:

R C Dahya - Director

1.	STATUTORY INFORMATION

Reliance Pharma Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

580,660

AMORTISATION

At 1 October 2019

193,527

Charge for year

58,066

At 30 September 2020

251,593

NET BOOK VALUE

At 30 September 2020

329,067

At 30 September 2019

387,133

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2019

and 30 September 2020

800

2,470

3,270

DEPRECIATION

At 1 October 2019

800

988

1,788

Charge for year

-

494

494

At 30 September 2020

800

1,482

2,282

NET BOOK VALUE

At 30 September 2020

-

988

988

At 30 September 2019

-

1,482

1,482

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

200,866

135,596

Other debtors

25,536

12,671

226,402

148,267

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

42,000

38,000

Trade creditors

119,283

100,611

Taxation and social security

77,027

54,397

Other creditors

96,668

144,486

334,978

337,494

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans

232,989

278,451

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

64,989

118,151

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reliance Pharma Ltd for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet and the 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/rulebook.

This report is made solely to the director of Reliance Pharma Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reliance Pharma Ltd and state those matters that we have agreed to state to the director of Reliance Pharma Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Reliance Pharma Ltd 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 Reliance Pharma Ltd. You consider that Reliance Pharma Ltd 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 Reliance Pharma Ltd. 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.

Sherwoods

Chartered Certified Accountants

83 High Street

West Wickham

Kent

BR4 0LS

Date: .............................................