Borg Pharma Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06346407 (England and Wales)

Financial Statements for the Period 1 September 2022 to 31 March 2023

for

Borg Pharma Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Khiroya

N Nathwani

REGISTERED OFFICE:

1C Henley Business Park

Pirbright Road

Guildford

Surrey

GU3 2DX

REGISTERED NUMBER:

06346407 (England and Wales)

AUDITORS:

NSO Associates LLP

Statutory Auditors

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

-

Intangible assets

4

-

4,461

Tangible assets

5

3,602

3

Investments

6

3

4,464

3,605

CURRENT ASSETS

210,439

Stocks

206,854

384,454

Debtors

7

475,978

551,105

Cash at bank

582,359

1,145,998

1,265,191

CREDITORS

484,383

Amounts falling due within one year

8

504,345

661,615

NET CURRENT ASSETS

760,846

666,079

TOTAL ASSETS LESS CURRENT LIABILITIES

764,451

848

PROVISIONS FOR LIABILITIES

684

665,231

NET ASSETS

763,767

CAPITAL AND RESERVES

2

Called up share capital

2

1

Capital redemption reserve

1

665,228

Retained earnings

763,764

665,231

SHAREHOLDERS' FUNDS

763,767

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 18 December 2023 and were signed on its behalf by:

P Khiroya - Director

1.	STATUTORY INFORMATION

Borg Pharma 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 2008, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery etc

-

50% on cost and 33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 (2022 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2022

and 31 March 2023

779,000

AMORTISATION

At 1 September 2022

and 31 March 2023

779,000

NET BOOK VALUE

At 31 March 2023

-

At 31 August 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2022

and 31 March 2023

182,032

DEPRECIATION

At 1 September 2022

177,571

Charge for period

859

At 31 March 2023

178,430

NET BOOK VALUE

At 31 March 2023

3,602

At 31 August 2022

4,461

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2022

and 31 March 2023

3

NET BOOK VALUE

At 31 March 2023

3

At 31 August 2022

3

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.8.22

(Unaudited)

£

£

Trade debtors

297,870

243,258

Other debtors

178,108

141,196

475,978

384,454

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.8.22

(Unaudited)

£

£

Trade creditors

432,090

433,346

Taxation and social security

66,609

44,503

Other creditors

5,646

6,534

504,345

484,383

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Elaine Anne Oddie (Senior Statutory Auditor)

for and on behalf of NSO Associates LLP