Client-Pharma Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08723939 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Client-Pharma Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Campbell

Mr J Kilham

Mr A J S Walton-Green

Mr C Wood

REGISTERED OFFICE:

Laurus House

First Avenue

Centrum 100

Burton On Trent

Staffordshire

DE14 2WH

REGISTERED NUMBER:

08723939 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

FIXED ASSETS

Intangible assets

4

4,167

14,167

Tangible assets

5

3,365

7,190

Investments

6

162

162

7,694

21,519

CURRENT ASSETS

Stocks

255,539

-

Debtors

7

2,329,627

1,273,301

Cash at bank

440,263

1,019,996

3,025,429

2,293,297

CREDITORS

Amounts falling due within one year

8

1,444,310

778,280

NET CURRENT ASSETS

1,581,119

1,515,017

TOTAL ASSETS LESS CURRENT LIABILITIES

1,588,813

1,536,536

CREDITORS

Amounts falling due after more than one year

9

(52,083

)

(367,740

)

PROVISIONS FOR LIABILITIES

11

(841

)

(1,366

)

NET ASSETS

1,535,889

1,167,430

CAPITAL AND RESERVES

Called up share capital

12

1,100

1,100

Retained earnings

1,534,789

1,166,330

SHAREHOLDERS' FUNDS

1,535,889

1,167,430

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 March 2024 and were signed on its behalf by:

Mr J Kilham - Director

Mr G Campbell - Director

1.	STATUTORY INFORMATION

Client-Pharma Ltd 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & equipment

-

25% on reducing balance and Straight line over 2 years

Computer equipment

-

Straight line over 3 years and Straight line over 2 years

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.

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 year was 14 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2023

and 31 December 2023

30,000

AMORTISATION

At 1 January 2023

15,833

Charge for year

10,000

At 31 December 2023

25,833

NET BOOK VALUE

At 31 December 2023

4,167

At 31 December 2022

14,167

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& equipment

equipment

Totals

£

£

£

COST

At 1 January 2023

4,367

36,469

40,836

Additions

-

1,792

1,792

Disposals

-

(5,498

)

(5,498

)

At 31 December 2023

4,367

32,763

37,130

DEPRECIATION

At 1 January 2023

4,367

29,279

33,646

Charge for year

-

5,311

5,311

Eliminated on disposal

-

(5,192

)

(5,192

)

At 31 December 2023

4,367

29,398

33,765

NET BOOK VALUE

At 31 December 2023

-

3,365

3,365

At 31 December 2022

-

7,190

7,190

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2023

and 31 December 2023

162

NET BOOK VALUE

At 31 December 2023

162

At 31 December 2022

162

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,735,112

600,434

Other debtors

594,515

672,867

2,329,627

1,273,301

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

125,000

290,507

Trade creditors

227,779

95,424

Taxation and social security

189,043

120,690

Other creditors

902,488

271,659

1,444,310

778,280

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

52,083

367,740

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

177,083

658,247

The HSBC CBILS loan is secured with a Fixed and Floating charge on all assets of the company, plus a personal guarantee from the Directors Mr J Kilham and Mr G Campbell limited to £50,000.

11.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

841

1,366

Deferred

tax

£

Balance at 1 January 2023

1,366

Credit to Statement of Income and Retained Earnings during year

(525

)

Balance at 31 December 2023

841

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1

1,000

1,000

100

Ordinary B shares

£1

100

100

1,100

1,100