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REGISTERED NUMBER: 04487669 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PHARMALAX LIMITED

PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHARMALAX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: K M Maru
Mrs P P Shah





REGISTERED OFFICE: 731 Dunstable Road
Luton
Bedfordshire
LU4 0DU





REGISTERED NUMBER: 04487669 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 9,874 10,423
9,875 10,424

CURRENT ASSETS
Stocks 75,105 45,890
Debtors 6 476,714 374,591
Cash at bank and in hand 489,042 308,985
1,040,861 729,466
CREDITORS
Amounts falling due within one year 7 202,242 184,263
NET CURRENT ASSETS 838,619 545,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,494

555,627

PROVISIONS FOR LIABILITIES 2,469 1,980
NET ASSETS 846,025 553,647

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 845,925 553,547
846,025 553,647

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

BALANCE SHEET - continued
31 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 13 November 2023 and were signed on its behalf by:





Mrs P P Shah - Director


PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

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


1. STATUTORY INFORMATION

Pharmalax 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.

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

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.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

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.

PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022
and 31 March 2023 99,999
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 103,489 27,649 9,659 140,797
Additions - 152 698 850
At 31 March 2023 103,489 27,801 10,357 141,647
DEPRECIATION
At 1 April 2022 103,489 18,337 8,548 130,374
Charge for year - 947 452 1,399
At 31 March 2023 103,489 19,284 9,000 131,773
NET BOOK VALUE
At 31 March 2023 - 8,517 1,357 9,874
At 31 March 2022 - 9,312 1,111 10,423

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 93,452 94,846
Amounts owed by group undertakings 353,877 256,567
Other debtors 29,385 23,178
476,714 374,591

PHARMALAX LIMITED (REGISTERED NUMBER: 04487669)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 131,286 115,932
Taxation and social security 63,929 61,700
Other creditors 7,027 6,631
202,242 184,263

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholdings in Piacare Ltd, the company's parent company.