Merad Pharmaceuticals Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04024112 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2022

for

Merad Pharmaceuticals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Kumar

Dr R Kumar

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

BUSINESS ADDRESS:

Reston House

Huntingdon Road

Cambridge

Cambridgeshire

CB3 0LH

REGISTERED NUMBER:

04024112 (England and Wales)

FIXED ASSETS

Tangible assets

5

47,104

48,212

CURRENT ASSETS

Debtors

6

10,425

11,752

Cash at bank

133,740

12,347

144,165

24,099

CREDITORS

Amounts falling due within one year

7

111,398

83,990

NET CURRENT ASSETS/(LIABILITIES)

32,767

(59,891

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79,871

(11,679

)

PROVISIONS FOR LIABILITIES

88

6

NET ASSETS/(LIABILITIES)

79,783

(11,685

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

79,683

(11,785

)

SHAREHOLDERS' FUNDS

79,783

(11,685

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 21 March 2023 and were signed on its behalf by:

Dr R Kumar - Director

Mrs N Kumar - Director

1.	STATUTORY INFORMATION

Merad Pharmaceuticals 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 charged at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property - 2% on cost

Plant and machinery - 25% on reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

Going concern

The Directors have assessed the current and future effects of COVID-19 on the Company. As a result of COVID-19 the Company experienced trading interruptions in the prior year.

In this financial year, as the impact of COVID-19 and associated restriction ended, the Company's income and financial performance improved. The Directors considered this, and the Company's forecasts and projections, which enabled them to conclude that it is appropriate to prepare the financial statements on a going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 July 2021

and 30 June 2022

72,134

24,267

96,401

DEPRECIATION

At 1 July 2021

24,544

23,645

48,189

Charge for year

952

156

1,108

At 30 June 2022

25,496

23,801

49,297

NET BOOK VALUE

At 30 June 2022

46,638

466

47,104

At 30 June 2021

47,590

622

48,212

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

10,384

10,000

Other debtors

41

1,752

10,425

11,752

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

21,900

3,208

Other creditors

89,498

80,782

111,398

83,990

Other creditors includes balances of £1,481 (2020 - £1,481) in respect of accruals and £79,301 (2020 - £79,301) of balances due to a related company, £8,716 (2021 - £Nil) in respect of directors loan accounts.