Relate AccountsProduction v2.7.1 v2.7.1 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the preparation and retail of pharmaceutical and medicinal products. 4 October 2023 9 9 NI028001 2023-03-31 NI028001 2022-12-31 NI028001 2021-12-31 NI028001 2023-01-01 2023-03-31 NI028001 2022-01-01 2022-12-31 NI028001 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-03-31 NI028001 uk-curr:PoundSterling 2023-01-01 2023-03-31 NI028001 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-03-31 NI028001 uk-bus:FullAccounts 2023-01-01 2023-03-31 NI028001 uk-bus:Director1 2023-01-01 2023-03-31 NI028001 uk-bus:RegisteredOffice 2023-01-01 2023-03-31 NI028001 uk-bus:Agent1 2023-01-01 2023-03-31 NI028001 uk-core:ShareCapital 2023-03-31 NI028001 uk-core:ShareCapital 2022-12-31 NI028001 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI028001 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI028001 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI028001 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI028001 uk-bus:FRS102 2023-01-01 2023-03-31 NI028001 uk-core:LandBuildings 2023-01-01 2023-03-31 NI028001 uk-core:PlantMachinery 2023-01-01 2023-03-31 NI028001 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-03-31 NI028001 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-03-31 NI028001 uk-core:CurrentFinancialInstruments 2023-03-31 NI028001 uk-core:CurrentFinancialInstruments 2022-12-31 NI028001 uk-core:WithinOneYear 2023-03-31 NI028001 uk-core:WithinOneYear 2022-12-31 NI028001 uk-core:EmployeeBenefits 2022-12-31 NI028001 uk-core:EmployeeBenefits 2023-01-01 2023-03-31 NI028001 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 NI028001 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-03-31 NI028001 uk-core:OtherDeferredTax 2023-03-31 NI028001 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-03-31 NI028001 uk-core:EmployeeBenefits 2023-03-31 NI028001 2023-01-01 2023-03-31 NI028001 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI028001
 
 
Newpharm Ltd
 
Unaudited Financial Statements
 
for the financial period ended 31 March 2023
Newpharm Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Mr. Richard Garvey
 
 
Company Registration Number NI028001
 
 
Registered Office 42 Dernaroy Road
Killeavy
Newry
Co. Down
BT35 8SP
Northern Ireland
 
 
Business Address Newry Health Village
Monaghan Street
Newry
Co. Down
BT35 6BW
United Kingdom
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
 
 
Bankers Danske Bank
  58 Hill Street
  Newry
  Co. Armagh
  BT34 1AR
  United Kingdom



Newpharm Ltd
Company Registration Number: NI028001
BALANCE SHEET
as at 31 March 2023

Mar 23 Dec 22
Notes £ £
 
Fixed Assets
Tangible assets 5 41,671 42,285
───────── ─────────
 
Current Assets
Stocks 6 92,715 100,477
Debtors 7 160,528 185,743
Cash and cash equivalents 293,619 293,863
───────── ─────────
546,862 580,083
───────── ─────────
Creditors: amounts falling due within one year 8 (365,690) (366,112)
───────── ─────────
Net Current Assets 181,172 213,971
───────── ─────────
Total Assets less Current Liabilities 222,843 256,256
 
Provisions for liabilities 10 (1,966) (2,069)
 
Government grants 11 (1,322) (1,392)
───────── ─────────
Net Assets 219,555 252,795
═════════ ═════════
 
Capital and Reserves
Called up share capital 8 8
Retained earnings 219,547 252,787
───────── ─────────
Equity attributable to owners of the company 219,555 252,795
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Director and authorised for issue on 4 October 2023
           
________________________________          
Mr. Richard Garvey          
Director          
           



Newpharm Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial period ended 31 March 2023

   
1. General Information
 
Newpharm Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI028001. The registered office of the company is 42 Dernaroy Road, Killeavy, Newry, Co. Down, BT35 8SP, Northern Ireland. The principal activity of the company is the preparation and retail of pharmaceutical and medicinal products. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 March 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Equipment - 15% Straight line
  Fixtures & fittings - 15% Straight line
  Licence -  
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 3 month period ended 31 March 2023.
       
4. Employees
 
The average monthly number of employees, including director, during the financial period was 9, (Dec 22 - 9).
 
  Mar 23 Dec 22
  Number Number
 
Shop Staff 9 9
  ═════════ ═════════
             
5. Tangible assets
  Land and Equipment Fixtures Licence Total
  buildings   & fittings    
  freehold        
  £ £ £ £ £
Cost
At 1 January 2023 31,253 20,138 89,132 30,000 170,523
  ───────── ───────── ───────── ───────── ─────────
 
At 31 March 2023 31,253 20,138 89,132 30,000 170,523
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 31,253 15,912 81,073 - 128,238
Charge for the financial period - 211 403 - 614
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2023 31,253 16,123 81,476 - 128,852
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 March 2023 - 4,015 7,656 30,000 41,671
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 December 2022 - 4,226 8,059 30,000 42,285
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Stocks Mar 23 Dec 22
  £ £
 
Finished goods and goods for resale 92,715 100,477
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors Mar 23 Dec 22
  £ £
 
Trade debtors 118,429 118,093
Other debtors 16,782 45,087
Taxation  (Note 9) 21,065 22,563
Prepayments and accrued income 4,252 -
  ───────── ─────────
  160,528 185,743
  ═════════ ═════════
       
8. Creditors Mar 23 Dec 22
Amounts falling due within one year £ £
 
Trade creditors 209,070 222,655
Taxation  (Note 9) 10,695 12,418
Other creditors - 131,039
Accruals 145,925 -
  ───────── ─────────
  365,690 366,112
  ═════════ ═════════
       
9. Taxation Mar 23 Dec 22
  £ £
 
Debtors:
VAT 21,065 22,563
  ═════════ ═════════
Creditors:
PAYE / NI 10,695 12,418
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    Mar 23 Dec 22
  £ £ £
 
At financial period start 2,069 2,069 2,069
Charged to profit and loss (103) (103) -
  ───────── ───────── ─────────
At financial period end 1,966 1,966 2,069
  ═════════ ═════════ ═════════
       
11. Government Grants Deferred Mar 23 Dec 22
  £ £
 
At 1 January 2023 1,392 1,392
Written off (70) -
  ───────── ─────────
 
At 31 March 2023 1,322 1,392
  ═════════ ═════════
       
12. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 March 2023.
   
13. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial period-end.