Registered number
12127378
Elder Pharma Limited
Filleted Accounts
31 March 2023
Elder Pharma Limited
Registered number: 12127378
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 526,500 555,750
Tangible assets 4 31,611 37,328
558,111 593,078
Current assets
Stocks 89,093 79,261
Debtors 5 166,820 159,079
Cash at bank and in hand 186,393 200,093
442,306 438,433
Creditors: amounts falling due within one year 6 (791,406) (760,876)
Net current liabilities (349,100) (322,443)
Total assets less current liabilities 209,011 270,635
Creditors: amounts falling due after more than one year 7 (96,801) (238,388)
Net assets 112,210 32,247
Capital and reserves
Called up share capital 2 2
Profit and loss account 112,208 32,245
Shareholder's funds 112,210 32,247
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 member has 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.
Mrs Dipa Rajan Pattni
Director
Approved by the board on 14 September 2023
Elder Pharma Limited
Notes to the Accounts
for the year ended 31 March 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:
Fixture, fittings & equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 585,000
At 31 March 2023 585,000
Amortisation
At 1 April 2022 29,250
Provided during the year 29,250
At 31 March 2023 58,500
Net book value
At 31 March 2023 526,500
At 31 March 2022 555,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Furnitures, fixtures & equipment
£
Cost
At 1 April 2022 48,750
Additions 4,215
At 31 March 2023 52,965
Depreciation
At 1 April 2022 11,422
Charge for the year 9,932
At 31 March 2023 21,354
Net book value
At 31 March 2023 31,611
At 31 March 2022 37,328
5 Debtors 2023 2022
£ £
Trade debtors 115,608 115,525
Other debtors 51,212 43,554
166,820 159,079
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,471 52,320
Trade creditors 187,104 143,036
Taxation and social security costs 28,850 18,320
Other creditors 548,981 547,200
791,406 760,876
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 96,801 238,388
8 Related party note
Mrs Dipa Rajan Pattni and Mr Rajan Pattni are directors of Elder Pharma Limited.

At the balance sheet date, the total amount owed by the company to the directors £477,430 (2022: £462,281).

During the year the company has declared a dividend of £6,400 (2022: £38,600.00).
9 Other information
Elder Pharma Limited is a private company limited by shares and incorporated in England. Its registered office is:
188 New Road
Croxley Green
Rickmansworth
England
WD3 3HD
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