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Company Registration No. 03707980 (England and Wales)
LOCTECH PHARMACIA LIMITED Unaudited accounts for the year ended 28 February 2023
LOCTECH PHARMACIA LIMITED Unaudited accounts Contents
Page
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LOCTECH PHARMACIA LIMITED Company Information for the year ended 28 February 2023
Director
Mohammed Ashraf
Secretary
Zarka Ashraf
Company Number
03707980 (England and Wales)
Registered Office
WELLFIELD HOUSE 33 NEW HEY ROAD HUDDERSFIELD WEST YORKSHIRE HD3 4AL
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LOCTECH PHARMACIA LIMITED Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
40,402 
41,340 
Investment property
725,478 
- 
Investments
31,000 
31,000 
796,880 
72,340 
Current assets
Inventories
53,960 
48,160 
Debtors
843,773 
787,539 
Cash at bank and in hand
1,038,916 
1,637,333 
1,936,649 
2,473,032 
Creditors: amounts falling due within one year
(263,645)
(367,864)
Net current assets
1,673,004 
2,105,168 
Net assets
2,469,884 
2,177,508 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
2,469,882 
2,177,506 
Shareholders' funds
2,469,884 
2,177,508 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 November 2023 and were signed on its behalf by
Mohammed Ashraf Director Company Registration No. 03707980
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LOCTECH PHARMACIA LIMITED Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
LOCTECH PHARMACIA LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03707980. The registered office is WELLFIELD HOUSE, 33 NEW HEY ROAD, HUDDERSFIELD, WEST YORKSHIRE, HD3 4AL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% written down value
Motor vehicles
20% written down value
Government grants
Government grants in relation to the local authority covid grant has been credited to the profit and loss account in the period to which it relates to.
Going concern
The accounts have been prepared on a going concern basis.The directors are not aware of any material uncertainties related to events or conditions that cast significant doubt upon the entities ability to continue as a going concern
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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LOCTECH PHARMACIA LIMITED Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2022
88,954 
Additions
1,681 
At 28 February 2023
90,635 
Depreciation
At 1 March 2022
47,614 
Charge for the year
2,619 
At 28 February 2023
50,233 
Net book value
At 28 February 2023
40,402 
At 28 February 2022
41,340 
5
Capital commitments
2023 
2022 
£ 
£ 
The company has rental commitments at £8400 per year for the next five years.
6
Transactions with related parties
The company rents premises personally owned by one of the directors( who owns 50% of shares in the company) at a rent of £8400 per annum.
7
Average number of employees
During the year the average number of employees was 11 (2022: 12).
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