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REGISTERED NUMBER: 07055111 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

A.E.PHARMA LIMITED

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.E.PHARMA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A Eslamdoust
Mrs E Ghasemzadeh Kacheh





REGISTERED OFFICE: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 07055111 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 625,926 713,800
Tangible assets 5 28,902 33,151
654,828 746,951

CURRENT ASSETS
Stocks 6 89,746 86,275
Debtors 7 267,536 232,087
Cash at bank and in hand 48,903 179,034
406,185 497,396
CREDITORS
Amounts falling due within one year 8 330,943 355,644
NET CURRENT ASSETS 75,242 141,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,070

888,703

CREDITORS
Amounts falling due after more than one
year

9

(704,647

)

(785,280

)

PROVISIONS FOR LIABILITIES 12 (4,849 ) (5,550 )
NET ASSETS 20,574 97,873

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 20,572 97,871
SHAREHOLDERS' FUNDS 20,574 97,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

BALANCE SHEET - continued
31ST MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th November 2023 and were signed on its behalf by:





A Eslamdoust - Director


A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

A.E.Pharma Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill relates to the amount paid in connection with the acquisition of businesses in 2014 and 2018 and is being amortised evenly over its estimated useful life of ten and fifteen years respectively.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 2% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 1,146,332
AMORTISATION
At 1st April 2022 432,532
Amortisation for year 87,874
At 31st March 2023 520,406
NET BOOK VALUE
At 31st March 2023 625,926
At 31st March 2022 713,800

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2022 6,274 19,638 14,890 3,932 44,734
Additions - 2,470 - 2,373 4,843
At 31st March 2023 6,274 22,108 14,890 6,305 49,577
DEPRECIATION
At 1st April 2022 2,333 3,859 3,261 2,130 11,583
Charge for year 563 4,379 2,907 1,243 9,092
At 31st March 2023 2,896 8,238 6,168 3,373 20,675
NET BOOK VALUE
At 31st March 2023 3,378 13,870 8,722 2,932 28,902
At 31st March 2022 3,941 15,779 11,629 1,802 33,151

6. STOCKS
2023 2022
£    £   
Stocks 89,746 86,275

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 154,115 181,551
Other debtors 113,421 50,536
267,536 232,087

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 80,633 80,633
Trade creditors 173,458 202,389
Taxation and social security 62,338 58,884
Other creditors 14,514 13,738
330,943 355,644

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 704,647 785,280

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 399,614 470,247

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,633 80,633

Amounts falling due between one and two years:
Bank loans - 1-2 years 80,633 80,633

Amounts falling due between two and five years:
Bank loans - 2-5 years 224,400 234,400

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 399,614 470,247

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 823,413

The bank loan is secured on leasehold interest of the pharmacy sites.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 4,849 5,550

Deferred
tax
£   
Balance at 1st April 2022 5,550
Credit to Income Statement during year (701 )
Balance at 31st March 2023 4,849

A.E.PHARMA LIMITED (REGISTERED NUMBER: 07055111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
A Eslamdoust and Mrs E Ghasemzadeh Kacheh
Balance outstanding at start of year - -
Amounts advanced 54,661 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,661 -