Abbreviated Company Accounts - TORRENT PHARMA LTD

TORRENT PHARMA LTD - Company Information

NI602282 TORRENT PHARMA LTD 2015-02-28 false 2014-03-01 2015-02-28 true NI602282 2014-03-01 2015-02-28 NI602282 2015-02-28 NI602282 2014-02-28 NI602282 uk-gaap-cd-bus:Director1 2014-03-01 2015-02-28 NI602282 uk-gaap-cd-bus:Director2 2014-03-01 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-01 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2014-02-28 iso4217:GBP shares

Registered Number NI602282

TORRENT PHARMA LTD

Abbreviated Accounts

28 February 2015

TORRENT PHARMA LTD Registered Number NI602282

Abbreviated Balance Sheet as at 28 February 2015

	Notes	2015	2014
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	516,140	567,740
Tangible assets	3	19,625	23,400
		535,765	591,140
Current assets
Stocks		45,625	45,625
Debtors		52,329	58,526
Cash at bank and in hand		68,437	44,625
		166,391	148,776
Creditors: amounts falling due within one year		(73,846)	(71,674)
Net current assets (liabilities)		92,545	77,102
Total assets less current liabilities		628,310	668,242
Creditors: amounts falling due after more than one year		(625,446)	(661,769)
Total net assets (liabilities)		2,864	6,473
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		2,862	6,471
Shareholders' funds		2,864	6,473

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 November 2015

And signed on their behalf by:
Denver Devlin, Director

TORRENT PHARMA LTD Registered Number NI602282

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
a. Basis of Accounting - The Accounts have been prepared under the historical cost
convention.

Turnover policy
Turnover represents the net value of goods invoiced to customers less any returns made.

Tangible assets depreciation policy
i. Fixed Assets are stated at cost.

ii. Depreciation is calculated to write off the net cost of fixed assets over their estimated
useful lives, by the reducing balance method at the following rates:

Fixtures, Fittings and Equipment 25%
Motor Vehicles 25%

Intangible assets amortisation policy
iii. Goodwill is amortised over 15 years.

2Intangible fixed assets

	£
Cost
At 1 March 2014	774,140
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2015	774,140
Amortisation
At 1 March 2014	206,400
Charge for the year	51,600
On disposals	-
At 28 February 2015	258,000
Net book values
At 28 February 2015	516,140
At 28 February 2014	567,740

3Tangible fixed assets

	£
Cost
At 1 March 2014	56,535
Additions	1,992
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2015	58,527
Depreciation
At 1 March 2014	33,135
Charge for the year	5,767
On disposals	-
At 28 February 2015	38,902
Net book values
At 28 February 2015	19,625
At 28 February 2014	23,400

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2