Accounts filed on 31-12-2013
Accounts filed on 31-12-2013
trueBR Pharmaceuticals Limited031648152013-12-31599310662202689312752204700027000220000200006893127522042339626403336925386047104963311646541815582446819284738409711110031108565262864860632048065643104172748291868075919973285653108883951088888203Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Trade Marks-over 10 years
Investments
Investments are included at cost and are subject to impairment reviews.Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Land & Buildingson straight line0.0500Plant & Machineryon straight line0.1000Fixtures & Fittingson straight line0.1000Motor vehicleson straight line0.2500Equipmenton straight line0.2500
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
103037968486189744726576087121844429180377840651100491991489690023The company's freehold property was revalued by Eddisons Chartered Surveyors on 12th January 2011.
The director's are of the opinion that this valuation is still appropriate as at the company's year end.
03-3The company owns 100% of the issued share capital of the companies listed below, they are all dormant and incorporated in England and Wales:
Lifestyle Vitamins Limited
Valuebrand Vitamins Limited
Valupak Vitamins Limited
1947466190062946840-3107939198065698735
The company's freehold property was revalued by Eddisons Chartered Surveyors on 12th January 2011.
The director's are of the opinion that this valuation is still appropriate as at the company's year end.
The company owns 100% of the issued share capital of the companies listed below, they are all dormant and incorporated in England and Wales:
Lifestyle Vitamins Limited
Valuebrand Vitamins Limited
Valupak Vitamins Limited
336925386047Ordinary of £1 each7000017000070000Ordinary 'A' shares of £1 each2917129172917Ordinary 'B' shares of £1 each1111Ordinary 'C' shares of £1 each1111Ordinary of £1 each1700007000070000Ordinary 'B' shares of £1 each1111Ordinary 'C' shares of £1 each1111All classes of £1 shares rank pari passu in respect of voting rights, on a winding up or dissolution of the company. Included in debtors at the year-end are balances in respect of unsecured interest free loans to the companies directors. At the balance sheet date Mr P M Byrne, Mr P J Roche and Mr O M Abu Sheikha had balances outstanding of £38,613, £nil and £2,750 respectively (2012 - £36,407, £29,999, and £nil respectively). During the year the maximum amount outstanding from the directors to the company amounted to £69,158, £50,680 and £nil respectively (2012 - £36,407, £29,999 and £nil respectively).ControlThe company was under the control of the directors throughout the current and previous year.2014-09-01Mr P M Byrnetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBR Pharmaceuticals Limited2013-01-012013-12-31BR Pharmaceuticals Limited2012-01-012012-12-31BR Pharmaceuticals Limited2011-12-31BR Pharmaceuticals Limited2012-12-31BR Pharmaceuticals Limited2012-12-31BR Pharmaceuticals Limited2013-12-31 2014-09-24
