Merad Pharmaceuticals Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04024112 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Merad Pharmaceuticals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Kumar

Dr R Kumar

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

04024112 (England and Wales)

FIXED ASSETS

Tangible assets

5

53,298

54,140

CURRENT ASSETS

Debtors

6

6,174

12,936

Cash at bank

24,136

15,300

30,310

28,236

CREDITORS

Amounts falling due within one year

7

(71,001

)

(60,237

)

NET CURRENT LIABILITIES

(40,691

)

(32,001

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,607

22,139

PROVISIONS FOR LIABILITIES

(76

)

-

NET ASSETS

12,531

22,139

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,431

22,039

SHAREHOLDERS' FUNDS

12,531

22,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 March 2018 and were signed on its behalf by:

Mrs N Kumar - Director

Dr R Kumar - Director

1.	STATUTORY INFORMATION

Merad Pharmaceuticals 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Plant and machinery

-

25% - 50% on reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in

effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a

market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond

normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is

measured at the present value of the future payments discounted at a market rate of interest for a similar debt

instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is

recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the

impairment not previously been recognised.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 July 2016

72,134

24,062

96,196

Additions

-

779

779

At 30 June 2017

72,134

24,841

96,975

DEPRECIATION

At 1 July 2016

19,486

22,570

42,056

Charge for year

1,053

568

1,621

At 30 June 2017

20,539

23,138

43,677

NET BOOK VALUE

At 30 June 2017

51,595

1,703

53,298

At 30 June 2016

52,648

1,492

54,140

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

6,170

Other debtors

6,174

6,766

6,174

12,936

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

24,482

18,399

Other creditors

46,519

41,838

71,001

60,237