DV-Pharm Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07034936 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Dv-pharm Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Dipak Vanechand Mehta

Mrs Nileema Dipak Mehta

REGISTERED OFFICE:

Devonshire House

582 Honeypot Lane

Stanmore

Middlesex

HA7 1JS

REGISTERED NUMBER:

07034936 (England and Wales)

FIXED ASSETS

Intangible assets

4

57,064

61,819

Tangible assets

5

15,100

17,506

72,164

79,325

CURRENT ASSETS

Stocks

84,518

96,854

Debtors

6

32,578

29,764

Prepayments and accrued income

71,203

72,838

Cash at bank and in hand

340,064

342,625

528,363

542,081

CREDITORS

Amounts falling due within one year

7

95,850

96,201

NET CURRENT ASSETS

432,513

445,880

TOTAL ASSETS LESS CURRENT LIABILITIES

504,677

525,205

PROVISIONS FOR LIABILITIES

8

2,869

3,501

NET ASSETS

501,808

521,704

CAPITAL AND RESERVES

Called up share capital

521,624

521,624

Retained earnings

(19,816

)

80

SHAREHOLDERS' FUNDS

501,808

521,704

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 23 March 2018 and were signed on its behalf by:

Mr Dipak Vanechand Mehta - Director

1.	STATUTORY INFORMATION

Dv-pharm 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.

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 2010, is being amortised evenly over its estimated useful life of nil 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.

Short leasehold

-

in accordance with the property

Fixtures and fittings

-

15% 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

95,110

AMORTISATION

At 1 January 2017

33,291

Amortisation for year

4,755

At 31 December 2017

38,046

NET BOOK VALUE

At 31 December 2017

57,064

At 31 December 2016

61,819

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2017

2,779

46,040

-

48,819

Additions

-

-

558

558

At 31 December 2017

2,779

46,040

558

49,377

DEPRECIATION

At 1 January 2017

2,289

29,024

-

31,313

Charge for year

327

2,553

84

2,964

At 31 December 2017

2,616

31,577

84

34,277

NET BOOK VALUE

At 31 December 2017

163

14,463

474

15,100

At 31 December 2016

490

17,016

-

17,506

6.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Other debtors

3,578

764

Amounts falling due after more than one year:

Other debtors

29,000

29,000

Aggregate amounts

32,578

29,764

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

72,713

73,578

Taxation and social security

161

(6,099

)

Other creditors

22,976

28,722

95,850

96,201

8.	PROVISIONS FOR LIABILITIES

31.12.17

31.12.16

£

£

Deferred tax

Accelerated capital allowances

2,869

3,501

Deferred

tax

£

Balance at 1 January 2017

3,501

Accelerated Capital Allowances

(632

)

Balance at 31 December 2017

2,869

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2017, DV Pharm Ltd owed £20,036 to its directors. This amount is reflected accordingly in

their respective director`s loan account in credit balances, which is shown under Creditors due within one year.

Please be advised that both the directors have agreed to provide this loan on an interest free basis and the loan is

payable on demand

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Dipak Vanechand Mehta.

The ultimate controlling party is Mr Dipak Vanechand Mehta.