Registered number
10892678
Vraj Pharm Limited
Filleted Accounts
30 September 2021
Vraj Pharm Limited
Registered number: 10892678
Balance Sheet
as at 30 September 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 6,365 4,336
Investments 4 695,992 695,992
702,357 700,328
Current assets
Stocks 33,288 47,641
Debtors 5 326,032 151,571
Cash at bank and in hand 141,734 17,180
501,054 216,392
Creditors: amounts falling due within one year 6 (217,230) (186,493)
Net current assets 283,824 29,899
Total assets less current liabilities 986,181 730,227
Creditors: amounts falling due after more than one year 7 (585,615) (646,885)
Provisions for liabilities (1,324) (824)
Net assets 399,242 82,518
Capital and reserves
Called up share capital 100 100
Profit and loss account 399,142 82,418
Shareholders' funds 399,242 82,518
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Patel
Director
Approved by the board on 29 June 2022
Vraj Pharm Limited
Notes to the Accounts
for the year ended 30 September 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 7 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2020 5,307
Additions 4,151
At 30 September 2021 9,458
Depreciation
At 1 October 2020 971
Charge for the year 2,122
At 30 September 2021 3,093
Net book value
At 30 September 2021 6,365
At 30 September 2020 4,336
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2020 695,992
At 30 September 2021 695,992
5 Debtors 2021 2020
£ £
Trade debtors 251,927 125,358
Amounts owed by group undertakings and undertakings in which the company has a participating interest 40,000 -
Other debtors 34,105 26,213
326,032 151,571
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 44,376 15,600
Trade creditors 92,689 129,266
Taxation and social security costs 78,825 12,064
Other creditors 1,340 29,563
217,230 186,493
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 378,180 440,102
Other creditors 207,435 206,783
585,615 646,885
8 Loans 2021 2020
£ £
Creditors include:
Secured bank loans 422,556 455,702
Loans are secured over the Assets of the company
9 Other information
Vraj Pharm Limited is a private company limited by shares and incorporated in England. Its registered office is:
35 Muirhead Rise
Houlton
Rugby
CV23 1BE
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