Borg Pharma Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06346407 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2015

for

Borg Pharma Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Khiroya

N Nathwani

K Patel

SECRETARY:

P Khiroya

REGISTERED OFFICE:

Unit 4 Wintonlea

Monument Way West

Woking

Surrey

GU21 5EN

REGISTERED NUMBER:

06346407 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

268,180

Intangible assets

2

190,280

53,074

Tangible assets

3

35,894

3

Investments

4

3

321,257

226,177

CURRENT ASSETS

169,642

Stocks

209,721

750,947

Debtors

583,446

1,185,037

Cash at bank

1,061,325

2,105,626

1,854,492

CREDITORS

1,352,822

Amounts falling due within one year

838,547

752,804

NET CURRENT ASSETS

1,015,945

1,074,061

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,242,122

9,109

PROVISIONS FOR LIABILITIES

6,066

1,064,952

NET ASSETS

1,236,056

CAPITAL AND RESERVES

3

Called up share capital

5

3

1,064,949

Profit and loss account

1,236,053

1,064,952

SHAREHOLDERS' FUNDS

1,236,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 April 2016 and were signed on its behalf by:

P Khiroya - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

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 cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

779,000

AMORTISATION

At 1 September 2014

510,820

Amortisation for year

77,900

At 31 August 2015

588,720

NET BOOK VALUE

At 31 August 2015

190,280

At 31 August 2014

268,180

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

163,104

Additions

19,065

At 31 August 2015

182,169

DEPRECIATION

At 1 September 2014

110,030

Charge for year

36,245

At 31 August 2015

146,275

NET BOOK VALUE

At 31 August 2015

35,894

At 31 August 2014

53,074

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2014

and 31 August 2015

3

NET BOOK VALUE

At 31 August 2015

3

At 31 August 2014

3

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

3

ordinary

£1

3