Registered number
06384162
Pharma Regulatory Services Limited
Filleted Accounts
31 March 2022
Pharma Regulatory Services Limited
Registered number: 06384162
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,111 1,048
Investments 4 371,328 371,328
372,439 372,376
Current assets
Debtors 5 - 1,094
Cash at bank and in hand 162,968 200,968
162,968 202,062
Creditors: amounts falling due within one year 6 (8,943) (51,660)
Net current assets 154,025 150,402
Total assets less current liabilities 526,464 522,778
Provisions for liabilities (6,374) (6,374)
Net assets 520,090 516,404
Capital and reserves
Called up share capital 2 2
Profit and loss account 520,088 516,402
Shareholders' funds 520,090 516,404
The director is 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 director acknowledges his 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.
Mrs M Essaji
Director
Approved by the board on 10 September 2022
Pharma Regulatory Services Limited
Notes to the Accounts
for the year ended 31 March 2022
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:
Plant and machinery 25% straight line
Investment property
Investment property is included in the balance sheet at fair value. Net gains and losses from the fair value adjustments are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 5,042
Additions 550
At 31 March 2022 5,592
Depreciation
At 1 April 2021 3,994
Charge for the year 487
At 31 March 2022 4,481
Net book value
At 31 March 2022 1,111
At 31 March 2021 1,048
4 Investment property
2022
£
Fair value
At 1 April 2021 371,328
At 31 March 2022 371,328
Historical cost
At 1 April 2021 339,458
At 31 March 2022 339,458
During the year the investment property valuation has remained the same at a fair value of £371,458. The valuation was made on an open market value basis by reference to market evidence of transaction prices of similar properties.
5 Debtors 2022 2021
£ £
Trade debtors - 1,094
6 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 1,075 15,762
Other creditors 7,868 35,898
8,943 51,660
7 Other information
Pharma Regulatory Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
74 The Chase
Ickenham
Uxbridge
Middlesex
UB10 8ST
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