Alpharm Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05435268

Alpharm Limited

Filleted Unaudited Financial Statements

30 April 2022

Alpharm Limited

Statement of Financial Position

30 April 2022

	2022	2021
Note	£	£

Fixed assets

Intangible assets	5	860,000	860,000
Tangible assets	6	9,614	7,077
		---------	---------
		869,614	867,077

Current assets

Stocks		42,227	40,660
Debtors	7	115,790	103,097
Cash at bank and in hand		78,021	154,053
		---------	---------
		236,038	297,810

Creditors: amounts falling due within one year	8	249,598	342,491
		---------	---------
Net current liabilities		13,560	44,681
		---------	---------
Total assets less current liabilities		856,054	822,396

Creditors: amounts falling due after more than one year	9	259,901	277,630

Provisions

Taxation including deferred tax	1,531	984
	---------	---------
Net assets	594,622	543,782
	---------	---------

Alpharm Limited

Statement of Financial Position (continued)

30 April 2022

	2022	2021
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	594,522	543,682
	---------	---------
Shareholders funds	594,622	543,782
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 30 April 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 were approved by the board of directors and authorised for issue on 24 February 2023 , and are signed on behalf of the board by:

Mr S Lal
Director

Company registration number: 05435268

Alpharm Limited

Notes to the Financial Statements

Year ended 30 April 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 468 Stafford Road, Oxley, Wolverhampton, West Midlands, WV10 6AN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax. Income tax 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 that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Goodwill Purchased goodwill is stated at cost and is reviewed for impairment on an annual basis at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost.

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:

Fixtures & Fittings	-	10% reducing balance
Motor Vehicles	-	20% reducing balance
Office Equipment	-	25% reducing balance

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 stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2021: 8 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2021 and 30 April 2022	860,000
	---------
Amortisation
At 1 May 2021 and 30 April 2022	–
	---------
Carrying amount
At 30 April 2022	860,000
	---------
At 30 April 2021	860,000
	---------

During the previous year the goodwill of a pharmacy business was acquired for £200k.

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 May 2021	15,381	5,490	5,185	26,056
Additions	3,840	–	–	3,840
	---------	---------	---------	---------
At 30 April 2022	19,221	5,490	5,185	29,896
	---------	---------	---------	---------
Depreciation
At 1 May 2021	10,258	3,840	4,881	18,979
Charge for the year	897	330	76	1,303
	---------	---------	---------	---------
At 30 April 2022	11,155	4,170	4,957	20,282
	---------	---------	---------	---------
Carrying amount
At 30 April 2022	8,066	1,320	228	9,614
	---------	---------	---------	---------
At 30 April 2021	5,123	1,650	304	7,077
	---------	---------	---------	---------

7. Debtors

	2022	2021
	£	£
Trade debtors	83,107	82,595
Prepayments and accrued income	4,707	4,115
Other debtors	27,976	16,387
	---------	---------
	115,790	103,097
	---------	---------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans	18,239	17,789
Trade creditors	177,715	191,113
Accruals and deferred income	7,213	6,600
Corporation tax	30,813	21,735
Social security and other taxes	1,483	1,505
Director loan accounts	10,974	69,681
NHS loan	2,550	33,870
Other creditors	611	198
	---------	---------
	249,598	342,491
	---------	---------

The bank loans are secured by a fixed and floating charge over the company assets.

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans	259,901	277,630
	---------	---------

The bank loans are secured by a fixed and floating charge over the company assets.

Included in bank loans is an amount of £179,375 (2021 £199,104) which is due after more than 5 years and repayable by instalments.

10. Directors' advances, credits and guarantees

At the end of the financial year the company owed the directors £10,974 (2021 £69,681).

11. Related party transactions

The company was under the control of the directors throughout the current and previous year. The company trades from premises owned by the directors. The rent paid during the year amounted to £Nil (2021 £Nil).