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Company Registration No. 12265125 (England and Wales)
Woodend Pharma Ltd Filleted accounts for the year ended 31 December 2022
Woodend Pharma Ltd Filleted accounts Contents
Page
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Woodend Pharma Ltd Company Information for the year ended 31 December 2022
Directors
Gulam Jaffer Nabi Jasjeev Singh Rai Danish Ahmed Vitran
Company Number
12265125 (England and Wales)
Registered Office
104 Hinckley Road Coventry CV2 2EU
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Woodend Pharma Ltd Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
763,135 
824,754 
Tangible assets
9,750 
15,500 
772,885 
840,254 
Current assets
Inventories
39,000 
39,000 
Debtors
124,425 
121,754 
Cash at bank and in hand
324,750 
281,983 
488,175 
442,737 
Creditors: amounts falling due within one year
(303,339)
(293,181)
Net current assets
184,836 
149,556 
Total assets less current liabilities
957,721 
989,810 
Creditors: amounts falling due after more than one year
(936,737)
(1,019,258)
Net assets/(liabilities)
20,984 
(29,448)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
20,981 
(29,451)
Shareholders' funds
20,984 
(29,448)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Gulam Jaffer Nabi Director Company Registration No. 12265125
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Woodend Pharma Ltd Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Woodend Pharma Ltd is a private company, limited by shares, registered in England and Wales, registration number 12265125. The registered office is 104 Hinckley Road, Coventry, CV2 2EU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
20% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Woodend Pharma Ltd Notes to the Accounts for the year ended 31 December 2022
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2022
947,992 
At 31 December 2022
947,992 
Amortisation
At 1 January 2022
123,238 
Charge for the year
61,619 
At 31 December 2022
184,857 
Net book value
At 31 December 2022
763,135 
At 31 December 2021
824,754 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2022
7,000 
20,000 
27,000 
At 31 December 2022
7,000 
20,000 
27,000 
Depreciation
At 1 January 2022
3,500 
8,000 
11,500 
Charge for the year
1,750 
4,000 
5,750 
At 31 December 2022
5,250 
12,000 
17,250 
Net book value
At 31 December 2022
1,750 
8,000 
9,750 
At 31 December 2021
3,500 
12,000 
15,500 
6
Inventories
2022 
2021 
£ 
£ 
Finished goods
39,000 
39,000 
39,000 
39,000 
7
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
24,408 
24,424 
Trade debtors
100,017 
97,330 
124,425 
121,754 
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Woodend Pharma Ltd Notes to the Accounts for the year ended 31 December 2022
8
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
74,115 
74,115 
Trade creditors
154,025 
159,244 
Taxes and social security
35,045 
19,665 
Other creditors
38,991 
38,994 
Accruals
1,163 
1,163 
303,339 
293,181 
9
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
587,407 
649,928 
Loans from directors
349,330 
369,330 
936,737 
1,019,258 
10
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
3 
11
Average number of employees
During the year the average number of employees was 8 (2021: 8).
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