Company registration number 06089986 (England and Wales)
DAVENTRY PHARMA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
DAVENTRY PHARMA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DAVENTRY PHARMA LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
962,710
947,896
Unlisted investments
4
300,000
300,000
1,262,710
1,247,896
Current assets
Stocks
34,951
30,588
Debtors
5
286,939
121,839
Cash at bank and in hand
112,282
221,980
434,172
374,407
Creditors: amounts falling due within one year
6
(341,748)
(314,148)
Net current assets
92,424
60,259
Total assets less current liabilities
1,355,134
1,308,155
Creditors: amounts falling due after more than one year
7
(708,102)
(766,007)
Provisions for liabilities
(1,761)
(1,639)
Net assets
645,271
540,509
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
645,269
540,507
Total equity
645,271
540,509

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DAVENTRY PHARMA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 October 2023 and are signed on its behalf by:
Tolulope Esan
Director
Company Registration No. 06089986
DAVENTRY PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Daventry Pharma Limited is a private company limited by shares incorporated in England and Wales. The registered office is 89 Lutterworth Road, Nuneaton, UK, CV11 6QA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Fixtures and fittings
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

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

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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

DAVENTRY PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
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.

1.7
Government grants

NHS grants were received in the previous year and recognised in other operating income.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Investment properties
Total
£
£
£
£
Cost
At 1 March 2022
77,387
38,281
882,257
997,925
Additions
-
0
1,199
17,185
18,384
At 28 February 2023
77,387
39,480
899,442
1,016,309
Depreciation and impairment
At 1 March 2022
19,942
30,087
-
0
50,029
Depreciation charged in the year
1,222
2,348
-
0
3,570
At 28 February 2023
21,164
32,435
-
0
53,599
Carrying amount
At 28 February 2023
56,223
7,045
899,442
962,710
At 28 February 2022
57,445
8,194
882,257
947,896
4
Unlisted investments
2023
£
Cost
At 1 March 2022 and 28 February 2023
300,000
DAVENTRY PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
4
Unlisted investments
(Continued)
- 5 -
The directors have assessed the company's investments at the balance sheet date and have concluded there is no evidence of impairment.
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
98,054
84,763
Other debtors
188,885
37,076
286,939
121,839
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
65,240
74,392
Trade creditors
224,277
178,514
Corporation tax
25,440
29,004
Other creditors
26,791
32,238
341,748
314,148
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
708,102
766,007
8
Ultimate Controlling Party

In the opinion of the directors the company is jointly controlled by Mohammed Azim and Tolulope Esan.

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