Registered number
11030393
PHARMAVACCS LTD
Filleted Accounts
31 October 2023
PHARMAVACCS LTD
Registered number: 11030393
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 49,400 60,054
Current assets
Debtors 4 7,200 -
Cash at bank and in hand 17,758 17,747
24,958 17,747
Creditors: amounts falling due within one year 5 (39,830) (55,158)
Net current liabilities (14,872) (37,411)
Total assets less current liabilities 34,528 22,643
Creditors: amounts falling due after more than one year 6 (290,000) (270,000)
Net liabilities (255,472) (247,357)
Capital and reserves
Called up share capital 1,500 1,500
Profit and loss account (256,972) (248,857)
Shareholders' funds (255,472) (247,357)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
AISHA SULEMAN
Director
Approved by the board on 23 November 2023
PHARMAVACCS LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Research & Development:
Cost
At 1 November 2022 106,536
At 31 October 2023 106,536
Amortisation
At 1 November 2022 46,482
Provided during the year 10,654
At 31 October 2023 57,136
Net book value
At 31 October 2023 49,400
At 31 October 2022 60,054
Research & Development is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2023 2022
£ £
Trade debtors 7,200 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 39,830 55,158
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other Loans - Prestford Ltd 60,000 60,000
Directors Loans 230,000 210,000
290,000 270,000
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
WAQQASS SHEIKH 16,800 (16,800) -
AISHA SULEMAN 10,000 - 10,000
SHATA ISMAIEL SALMAN AL JUBOORI 200,000 - 200,000
226,800 - (16,800) 210,000
8 Controlling party
The company is under the ultimate control of Mr Waqqass Sheikh by virtue of him and his wife owning more than 50% of the issued share capital.
Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1,500 1,000
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each - -
-
Shareholders Details Nominal Value Number Amount
Waqqass Sheikh £1.00 450 £450.00
Rizwana Sheikh £1.00 450 £450.00
Aisha Suleman £1.00 100 £100.00
Shatha Ismaiel Salman al Juboori £1.00 250 £250.00
Zabir Hakim £1.00 250 £250.00
9 Other information
PHARMAVACCS LTD is a private company limited by shares and incorporated in England. Its registered office is:
117b Withington Road
Manchester
M16 8EE
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