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REGISTERED NUMBER: 08390481 (England and Wales)















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: C D Parker
A Bufton
G N Hayes
P W Cargill
H Wilder
G Nix
P van Unen





Registered office: 28 The Moorlands Trading Estate
Moor Lane
Metheringham
Lincoln
LN4 3HX





Registered number: 08390481 (England and Wales)





Accountants: Wags LLP t/a Wagstaffs
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.






Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


26th July 2022

PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 - 3,362
Investments 6 87 87
87 3,449

CURRENT ASSETS
Inventories 89,521 143,377
Debtors 285,890 62,447
Cash at bank 292,490 572,319
667,901 778,143
CREDITORS
Amounts falling due within one year (231,939 ) (386,643 )
NET CURRENT ASSETS 435,962 391,500
TOTAL ASSETS LESS CURRENT LIABILITIES 436,049 394,949

CAPITAL AND RESERVES
Called up share capital 7 1,800 1,800
Retained earnings 434,249 393,149
436,049 394,949

PHARMSURE INTERNATIONAL LIMITED (REGISTERED NUMBER: 08390481)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of financial position for the year ended 31st March 2022 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 and authorised for issue on 26th July 2022 and were signed on its behalf by:




A Bufton - Director



G Nix - Director


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 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

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 4 (2021 - 4 ) .

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 37,043
Depreciation
At 1st April 2021 33,681
Charge for year 3,362
At 31st March 2022 37,043
Net book value
At 31st March 2022 -
At 31st March 2021 3,362

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:

Pharmsure Veterinary Products Europe
Registered office: 4 Fitzwilliam Terrace. Strand Road, Ireland
Nature of business: Supply of Veterinary Products
%
Class of shares: holding
Ordinary 100.00
2022 2021
£    £   
Aggregate capital and reserves 807,577 821,405

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.