DV-Pharm Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07034936 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Dv-pharm Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Dipak Vanechand Mehta

Mrs Nileema Dipak Mehta

Mr Anish Dipak Mehta

REGISTERED OFFICE:

Devonshire House

582 Honeypot Lane

Stanmore

MIDDLESEX

HA7 1JS

REGISTERED NUMBER:

07034936 (England and Wales)

FIXED ASSETS

Intangible assets

4

38,042

42,797

Tangible assets

5

15,124

15,399

53,166

58,196

CURRENT ASSETS

Stocks

80,368

88,451

Debtors

6

370,682

369,828

Prepayments and accrued income

67,627

59,036

Cash at bank and in hand

131,503

73,490

650,180

590,805

CREDITORS

Amounts falling due within one year

7

123,130

124,045

NET CURRENT ASSETS

527,050

466,760

TOTAL ASSETS LESS CURRENT LIABILITIES

580,216

524,956

PROVISIONS FOR LIABILITIES

2,874

3,278

NET ASSETS

577,342

521,678

CAPITAL AND RESERVES

Called up share capital

521,624

521,624

Retained earnings

55,718

54

SHAREHOLDERS' FUNDS

577,342

521,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 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 Board of Directors and authorised for issue on 11 April 2022 and were signed on its behalf by:

Mr Dipak Vanechand Mehta - Director

1.	STATUTORY INFORMATION

Dv-pharm 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.

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 2010, is being amortised evenly over its estimated useful life of nil 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.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

95,110

AMORTISATION

At 1 January 2021

52,313

Charge for year

4,755

At 31 December 2021

57,068

NET BOOK VALUE

At 31 December 2021

38,042

At 31 December 2020

42,797

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2021

9,702

47,937

57,639

Additions

-

2,155

2,155

At 31 December 2021

9,702

50,092

59,794

DEPRECIATION

At 1 January 2021

4,510

37,730

42,240

Charge for year

577

1,853

2,430

At 31 December 2021

5,087

39,583

44,670

NET BOOK VALUE

At 31 December 2021

4,615

10,509

15,124

At 31 December 2020

5,192

10,207

15,399

6.

DEBTORS

31.12.21

31.12.20

£

£

Amounts falling due within one year:

Other debtors

356,319

355,465

Amounts falling due after more than one year:

Other debtors

14,363

14,363

Aggregate amounts

370,682

369,828

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

92,742

74,701

Taxation and social security

22,733

17,653

Other creditors

7,655

31,691

123,130

124,045

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2021, DV-Pharm Ltd owed £304.00 to its directors. This amount is reflected accordingly in their respective director`s loan account in credit balances, which is shown under Creditors due within one year. Please be advised that both the directors have agreed to provide this loan on an interest free basis and the loan is payable on demand

9.	RELATED PARTY DISCLOSURES

During the year ended 31 December 2021, DV-Pharm Ltd provided a short-term loan of £355,000 to a related company on an interest free basis and the loan is repayable on demand. This loan amount is shown as Other Debtors under Debtors due within one year.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Dipak Vanechand Mehta.

The ultimate controlling party is Mr Dipak Vanechand Mehta.