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REGISTERED NUMBER: 09993255 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

PharmaSEAL International Limited

PharmaSEAL International Limited (Registered number: 09993255)

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


PharmaSEAL International Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Cheema
M Ahmed
G N S Dunn





SECRETARY:





REGISTERED OFFICE: Ingenuity Centre
Nottingham University Innovation Park
Triumph Rpad
Nottingham
NG7 2TU





REGISTERED NUMBER: 09993255 (England and Wales)





ACCOUNTANTS: M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

PharmaSEAL International Limited (Registered number: 09993255)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,377 3,016

CURRENT ASSETS
Debtors 5 315,915 188,726
Cash at bank 260,470 254,449
576,385 443,175
CREDITORS
Amounts falling due within one year 6 680,552 406,298
NET CURRENT (LIABILITIES)/ASSETS (104,167 ) 36,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

(100,790

)

39,893

CREDITORS
Amounts falling due after more than one
year

7

26,624

33,667
NET (LIABILITIES)/ASSETS (127,414 ) 6,226

CAPITAL AND RESERVES
Called up share capital 8 5 5
Share premium 9 2,188,541 2,188,541
Retained earnings 9 (2,315,960 ) (2,182,320 )
SHAREHOLDERS' FUNDS (127,414 ) 6,226

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.

PharmaSEAL International Limited (Registered number: 09993255)

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 11 July 2023 and were signed on its behalf by:





D Cheema - Director


PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

PharmaSEAL International 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.

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 - 33% on reducing balance

Taxation
Taxation for the year comprises current tax which 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 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.

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 7 (2022 - 8 ) .

PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 11,564
Additions 2,049
At 31 March 2023 13,613
DEPRECIATION
At 1 April 2022 8,548
Charge for year 1,688
At 31 March 2023 10,236
NET BOOK VALUE
At 31 March 2023 3,377
At 31 March 2022 3,016

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,465 -
Other debtors 397 1,611
Tax 289,314 165,898
VAT 13,779 12,037
Prepayments 10,960 9,180
315,915 188,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 125,096 95,472
Social security and other taxes 309,970 138,867
Other creditors 11,089 11,744
Deferred income 219,897 148,215
Accrued expenses 4,500 2,000
680,552 406,298

PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 16,624 23,667
26,624 33,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100,000 Ordinary £0.00001 1 1
403,954 A Ordinary £0.00001 4 4
5 5

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 (2,182,320 ) 2,188,541 6,221
Deficit for the year (133,640 ) (133,640 )
At 31 March 2023 (2,315,960 ) 2,188,541 (127,419 )

10. GOING CONCERN

In common with other start-up companies, at the balance sheet date, liabilities exceeded assets and cash reserves. The director's are in discussion with prospective investors and firmly believe that they will be able to secure sufficient funds from a combination of trading activities, loans, grants and existing and new investors to allow the company to meet its obligations as they fall due. Accordingly, the accounts have been prepared on a going concern basis.