REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2021 |
for |
Texpharma Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2021 |
for |
Texpharma Limited |
Texpharma Limited (Registered number: 03200946) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Texpharma Limited |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Birchin Court |
20 Birchin Lane |
London |
EC3V 9DJ |
Texpharma Limited (Registered number: 03200946) |
Balance Sheet |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | € | € |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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 director and authorised for issue on |
Texpharma Limited (Registered number: 03200946) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Texpharma Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The |
Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the modification to fair value for the revaluation of the investment property. |
The principal accounting policies adopted in the preparation of the financial statements are set out below. The accounting policies have been consistently applied within the financial statements. |
The company's functional and presentation currency is € Euro. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. |
Turnover |
Turnover represents the company's share of profit in the Texpharma partnership. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Texpharma Limited (Registered number: 03200946) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
Financial assets and financial liabilities are recognised initially at fair value. Financial assets are reduced for provision, for impairment, if required. |
Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
€ |
COST |
At 1 January 2021 |
and 31 December 2021 | 110 |
NET BOOK VALUE |
At 31 December 2021 | 110 |
At 31 December 2020 | 110 |
The company has a 10% interest in a partnership, which trades outside the United Kingdom. The share of profit in the partnership for the year amounts to EUR 111,030 (2020 : EUR 105,006). The share of net assets in the partnership amounts to EUR 1,457,321 (2020 : EUR 1,371,142). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
€ | € |
Amounts owed by participating interests | 1,457,211 | 1,371,032 |
Called up share capital not paid |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
€ | € |
Tax |
Accrued expenses |
Texpharma Limited (Registered number: 03200946) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | € | € |
Ordinary shares | £1 | 3 | 3 |
Ordinary shares | £1 | 4 | 4 |
7 | 7 |
8. | RESERVES |
Retained |
earnings |
€ |
At 1 January 2021 |
Profit for the year |
At 31 December 2021 |
9. | ULTIMATE CONTROLLING PARTY |
The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company |