Joshpharm Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06547725

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Joshpharm Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S B Joshi

Mrs D S Joshi

SECRETARY:

Mrs D S Joshi

REGISTERED OFFICE:

Transport House

Uxbridge Road

Hillingdon Heath

Middlesex

UB10 0LY

REGISTERED NUMBER:

06547725

FIXED ASSETS

Intangible assets

4

266,750

291,000

Tangible assets

5

2,743

3,658

269,493

294,658

CURRENT ASSETS

Stocks

40,447

38,935

Debtors

90,446

99,313

Cash at bank and in hand

262,005

208,926

392,898

347,174

CREDITORS

Amounts falling due within one year

396,023

384,282

NET CURRENT LIABILITIES

(3,125

)

(37,108

)

TOTAL ASSETS LESS CURRENT LIABILITIES

266,368

257,550

PROVISIONS FOR LIABILITIES

6

732

732

NET ASSETS

265,636

256,818

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

265,536

256,718

SHAREHOLDERS' FUNDS

265,636

256,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 26 February 2018 and were signed on its behalf by:

Mr S B Joshi - Director

1.	STATUTORY INFORMATION

Joshpharm Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 twenty 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 year 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 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.

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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangement,as either financial assets,financial liabilities or equity instruments.An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

485,000

AMORTISATION

At 1 June 2016

194,000

Amortisation for year

24,250

At 31 May 2017

218,250

NET BOOK VALUE

At 31 May 2017

266,750

At 31 May 2016

291,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

24,840

DEPRECIATION

At 1 June 2016

21,182

Charge for year

915

At 31 May 2017

22,097

NET BOOK VALUE

At 31 May 2017

2,743

At 31 May 2016

3,658

6.	PROVISIONS FOR LIABILITIES

31.5.17

31.5.16

£

£

Deferred tax

732

732

Deferred

tax

£

Balance at 1 June 2016

732

Excess of capital allowance

over depreciation

Balance at 31 May 2017

732

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 June 2016

256,718

Profit for the year

68,818

Dividends

(60,000

)

At 31 May 2017

265,536

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Ar 31 May 2017 the balance owing to the directors of the company was £279,718 (2016 - £272,542).

10.	RELATED PARTY DISCLOSURES

During the financial year, the company paid interim dividends of £60,000 (2016 - £70,000) to the

directors of the company who are also the shareholders of the company.

11.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there were no ultimate controlling party for the current year and the

previous year.