Registered number
12848977
HEXAGON PHARMA LIMITED
Filleted Accounts
31 August 2023
HEXAGON PHARMA LIMITED
Registered number: 12848977
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 356 210
Current assets
Stocks 75,230 10,324
Debtors 4 45,029 6,946
Cash at bank and in hand 11,250 16,033
131,509 33,303
Creditors: amounts falling due within one year 5 (229,739) (90,120)
Net current liabilities (98,230) (56,817)
Net liabilities (97,874) (56,607)
Capital and reserves
Called up share capital 6 5
Profit and loss account (97,880) (56,612)
Shareholders' funds (97,874) (56,607)
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.
SANEM, Shivashankar Goud
Director
Approved by the board on 12 March 2024
HEXAGON PHARMA LIMITED
Notes to the Accounts
for the year ended 31 August 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.
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:
Fixtures, fittings, tools and equipment over 5 years
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.
Going Concern
The accounts are prepared on a going concern basis notwithstanding the fact that the company has a negative balance sheet on the grounds that the company director assured that the amounts owed to him will not be recalled until such time that the company is financially able to repay.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 September 2022 210
Additions 235
At 31 August 2023 445
Depreciation
Charge for the year 89
At 31 August 2023 89
Net book value
At 31 August 2023 356
At 31 August 2022 210
4 Debtors 2023 2022
£ £
Trade debtors 43,463 5,500
VAT recoverable 1,566 1,446
45,029 6,946
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,270 1,097
Taxation and social security costs 652 1,035
Other creditors 227,817 87,988
229,739 90,120
6 Other information
HEXAGON PHARMA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
6 The Meadow,
Alms Close,
Huntingdon,
Cambridgeshire,
PE29 6AJ
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