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REGISTERED NUMBER: 08903763 (England and Wales)















Financial Statements for the Year Ended 28 February 2023

for

PharmacoMedics Limited

PharmacoMedics Limited (Registered number: 08903763)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PharmacoMedics Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Dr M Daruwalla
Dr K Sheth
Miss T Sheth





REGISTERED OFFICE: 5 Barrington Road
Leicester
Leicestershire
LE2 2RA





REGISTERED NUMBER: 08903763 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

PharmacoMedics Limited (Registered number: 08903763)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,081 395
Investments 5 2,214,279 1,256,380
2,216,360 1,256,775

CURRENT ASSETS
Debtors 6 149,376 102,386
Cash at bank 627,895 1,503,144
777,271 1,605,530
CREDITORS
Amounts falling due within one year 7 173,724 170,497
NET CURRENT ASSETS 603,547 1,435,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,819,907

2,691,808

PROVISIONS FOR LIABILITIES 29,463 32,463
NET ASSETS 2,790,444 2,659,345

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 123,412 138,076
Retained earnings 2,666,932 2,521,169
SHAREHOLDERS' FUNDS 2,790,444 2,659,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

PharmacoMedics Limited (Registered number: 08903763)

Balance Sheet - continued
28 February 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 23 October 2023 and were signed on its behalf by:





Dr K Sheth - Director


PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

PharmacoMedics 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services. Revenue is recognised when the company obtains the right to receive consideration for services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Fixed asset investments
Fixed asset investments are shown at year end market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised costs, except for investments in non - convertable preference and non puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initally recorded at cost and thereafter at fair value with changes 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.

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.

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022 4,739
Additions 3,121
Disposals (480 )
At 28 February 2023 7,380
DEPRECIATION
At 1 March 2022 4,344
Charge for year 1,435
Eliminated on disposal (480 )
At 28 February 2023 5,299
NET BOOK VALUE
At 28 February 2023 2,081
At 28 February 2022 395

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 March 2022 1,231,866 24,514 1,256,380
Additions 976,001 - 976,001
Revaluations (19,924 ) 1,822 (18,102 )
At 28 February 2023 2,187,943 26,336 2,214,279
NET BOOK VALUE
At 28 February 2023 2,187,943 26,336 2,214,279
At 28 February 2022 1,231,866 24,514 1,256,380

Cost or valuation at 28 February 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2018 21,478 - 21,478
Valuation in 2019 (10,779 ) 825 (9,954 )
Valuation in 2020 34,075 6,981 41,056
Valuation in 2021 41,811 (842 ) 40,969
Valuation in 2022 74,715 2,200 76,915
Valuation in 2023 (19,925 ) 1,822 (18,103 )
Cost 2,046,568 15,350 2,061,918
2,187,943 26,336 2,214,279

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 21,524 22,428
Other debtors 127,852 79,958
149,376 102,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 3,258 11,414
Taxation and social security 81,648 114,495
Other creditors 88,818 44,588
173,724 170,497

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
Dr K Sheth and Dr M Daruwalla
Balance outstanding at start of year - -
Amounts advanced 28,361 -
Amounts repaid (12,206 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,155 -

The loan is repayable on demand.