Pharmaco 2000 Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 02981896 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

PHARMACO 2000 LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Kamruddin Fidahusein Khaki

Mushtaq Jafferali Ismail

Mustakali Pyarali Hassanali Kurji

SECRETARY:

Mustakali Pyarali Hassanali Kurji

REGISTERED OFFICE:

Unit 4

Boultbee Business Units

Nechells Place

Birmingham

West Midlands

B7 5AR

REGISTERED NUMBER:

02981896 (England and Wales)

ACCOUNTANTS:

Brindleys Limited

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

BANKERS:

Lloyds TSB Bank Plc

538 Stratford Road

Sparkhill

Birmingham

West Midlands

B11 4BD

FIXED ASSETS

Tangible assets

4

15,229

18,602

Investments

5

111

112

Investment property

6

565,000

565,000

580,340

583,714

CURRENT ASSETS

Debtors

7

480,627

554,757

Cash at bank and in hand

2,464,464

1,645,382

2,945,091

2,200,139

CREDITORS

Amounts falling due within one year

8

346,328

293,300

NET CURRENT ASSETS

2,598,763

1,906,839

TOTAL ASSETS LESS CURRENT LIABILITIES

3,179,103

2,490,553

CAPITAL AND RESERVES

Called up share capital

10

13,012

13,012

Share premium

11

23,308

23,308

Capital redemption reserve

11

2

2

Retained earnings

11

3,142,781

2,454,231

SHAREHOLDERS' FUNDS

3,179,103

2,490,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 8 August 2023 and were signed on its behalf by:

Mushtaq Jafferali Ismail - Director

1.	STATUTORY INFORMATION

Pharmaco 2000 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 as modified by the revaluation of certain assets.

Revenue recognition

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.

Plant and machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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.

Holiday pay

Holiday pay is recognised as an expense in the period in which the service is received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 April 2022

36,950

88,432

125,382

Additions

-

882

882

At 31 March 2023

36,950

89,314

126,264

DEPRECIATION

At 1 April 2022

24,634

82,146

106,780

Charge for year

2,463

1,792

4,255

At 31 March 2023

27,097

83,938

111,035

NET BOOK VALUE

At 31 March 2023

9,853

5,376

15,229

At 31 March 2022

12,316

6,286

18,602

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

112

Disposals

(1

)

At 31 March 2023

111

NET BOOK VALUE

At 31 March 2023

111

At 31 March 2022

112

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

565,000

NET BOOK VALUE

At 31 March 2023

565,000

At 31 March 2022

565,000

Fair value at 31 March 2023 is represented by:

£

Valuation in 2018

55,501

Valuation in 2020

66,229

Valuation in 2021

(45,000

)

Valuation in 2022

35,000

Cost

453,270

565,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023

2022

£

£

Cost

453,270

453,270

Investment properties were valued on a fair value basis on 31 March 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

259,762

253,957

Amounts owed by group undertakings

66,451

276,451

Other debtors

138,407

12,652

Deferred tax asset

16,007

11,697

480,627

554,757

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

23,394

29,303

Corporation Tax

95,822

70,851

VAT

92,960

84,436

Other creditors

15

3,401

Accrued expenses

134,137

105,309

346,328

293,300

9.	DEFERRED TAX

£

Balance at 1 April 2022

(11,697

)

Provided during year

(4,310

)

Balance at 31 March 2023

(16,007

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

50,875

Preference A Shares

£0.25

12,719

12,719

36

Ordinary Class B

£0.25

9

9

1,134

Ordinary Class C

£0.25

284

284

13,012

13,012

.

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2022

2,454,231

23,308

2

2,477,541

Profit for the year

703,587

703,587

Dividends

(15,037

)

(15,037

)

At 31 March 2023

3,142,781

23,308

2

3,166,091