Pharma Plus Limited - Accounts to registrar (filleted) - small 18.2

Pharma Plus Limited - Accounts to registrar (filleted) - small 18.2

PHARMA PLUS LIMITED - Company Information

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REGISTERED NUMBER: 04982646 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2020

for

Pharma Plus Limited
Aequitas
Chartered Accountants
Elthorne Gate
64 High Street
Pinner
HA5 5QA








Pharma Plus Limited (Registered number: 04982646)

Contents of the Financial Statements
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pharma Plus Limited


Company Information
for the Year Ended 31 December 2020







DIRECTORS: Mr HK Patel
Mr BN Amin
Mr P Patel





REGISTERED OFFICE: Unit B1 Livingstone Court
55 Peel Road
Harrow
Middlesex
HA3 7QT





REGISTERED NUMBER: 04982646 (England and Wales)





ACCOUNTANTS: Aequitas
Chartered Accountants
Elthorne Gate
64 High Street
Pinner
HA5 5QA
Page 1
Pharma Plus Limited (Registered number: 04982646)


Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,153 7,575

CURRENT ASSETS
Debtors 5 99,851 126,012
Cash at bank and in hand 575,967 467,915
675,818 593,927
CREDITORS
Amounts falling due within one year 6 78,287 62,773
NET CURRENT ASSETS 597,531 531,154
TOTAL ASSETS LESS CURRENT LIABILITIES 604,684 538,729

CREDITORS
Amounts falling due after more than one
year
7
(50,000
)
-

PROVISIONS FOR LIABILITIES (1,253 ) -
NET ASSETS 553,431 538,729

CAPITAL AND RESERVES
Called up share capital 512 512
Capital redemption reserve 110 110
Retained earnings 552,809 538,107
SHAREHOLDERS' FUNDS 553,431 538,729

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 2 continued...
Pharma Plus Limited (Registered number: 04982646)


Balance Sheet - continued
31 December 2020


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2021 and were signed on its behalf by:





Mr HK Patel - Director


The notes form part of these financial statements

Page 3
Pharma Plus Limited (Registered number: 04982646)


Notes to the Financial Statements
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

Pharma Plus Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Page 4 continued...
Pharma Plus Limited (Registered number: 04982646)


Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 7 (2019 - 7 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2020
and 31 December 2020 35,428
DEPRECIATION
At 1 January 2020 27,853
Charge for year 422
At 31 December 2020 28,275
NET BOOK VALUE
At 31 December 2020 7,153
At 31 December 2019 7,575

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade debtors 92,875 109,676
Prepayments and accrued income 6,976 16,336
99,851 126,012

Page 5 continued...
Pharma Plus Limited (Registered number: 04982646)


Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade creditors 25,349 17,948
Taxation and social security 28,822 20,007
Other creditors 24,116 24,818
78,287 62,773

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.20 31.12.19
£    £   
Bank loans 50,000 -

Page 6