REGISTERED NUMBER: |
PHARMSURE INTERNATIONAL LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 |
REGISTERED NUMBER: |
PHARMSURE INTERNATIONAL LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2022 |
Page |
Company information | 1 |
Accountants' report | 2 |
Abridged statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 8 |
PHARMSURE INTERNATIONAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PHARMSURE INTERNATIONAL LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pharmsure International Limited for the year ended 31st March 2022 which comprise the Income statement, Abridged Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Pharmsure International Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pharmsure International Limited and state those matters that we have agreed to state to the Board of Directors of Pharmsure International Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pharmsure International Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Pharmsure International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pharmsure International Limited. You consider that Pharmsure International Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Pharmsure International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
Investments | 6 |
CURRENT ASSETS |
Inventories |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31ST MARCH 2022 |
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. |
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 and authorised for issue on |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2022 |
1. | STATUTORY INFORMATION |
Pharmsure International Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared on a going concern basis and under the historical cost convention. |
Preparation of consolidated financial statements |
The financial statements contain information about Pharmsure International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
In the application of the company's accounting policies, which are described in note 3, management is required to make judgements estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects |
both current and future periods. |
The Key sources of estimation uncertainty that have a significant effect on the amounts recognised |
in the financial statements are described below. |
- Useful Economic Life of Tangible Assets |
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated |
useful lives and residual values of the assets. The useful economic lives and residual values are |
re-assessed annually. They are amended when necessary to reflect current estimates, based on |
technological advancement, future investments, economic utilisation and physical condition of the |
assets. |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2022 |
3. | ACCOUNTING POLICIES - continued |
Revenue |
Turnover represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year. |
Property, plant and equipment |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Inventories |
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Tax |
Tax 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 tax 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 material 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2022 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
£ |
Cost |
At 1st April 2021 |
and 31st March 2022 |
Depreciation |
At 1st April 2021 |
Charge for year |
At 31st March 2022 |
Net book value |
At 31st March 2022 |
At 31st March 2021 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
Cost |
At 1st April 2021 |
and 31st March 2022 | 87 |
Net book value |
At 31st March 2022 | 87 |
At 31st March 2021 | 87 |
The company's investments at the Statement of financial position date in the share capital of companies include the following: |
Registered office: 4 Fitzwilliam Terrace. Strand Road, Ireland |
Nature of business: |
% |
Class of shares: | holding |
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: |
Class: |
Nominal value: |
2022 |
2021 |
£ | £ |
540 | Ordinary A | £1 | 540 | 1,800 |
540 | Ordinary B | £1 | 540 | - |
540 | Ordinary C | £1 | 540 | - |
180 | Ordinary D | £1 | 180 | - |
1,800 | 1,800 |
During the year the company restructured their share capital from Ordinary A to alphabet shares. The share capital and number of shares remained the same. The Ordinary ABCD shares rank pari passu in all respects. |