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REGISTERED NUMBER: 07336635 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2022 to 30 March 2023

for

R H Pharma Limited

R H Pharma Limited (Registered number: 07336635)






Contents of the Financial Statements
for the Period 1 April 2022 to 30 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R H Pharma Limited

Company Information
for the Period 1 April 2022 to 30 March 2023







DIRECTORS: S H Syed
S R Syed





SECRETARY: S R Syed





REGISTERED OFFICE: 12 Matley Moor
Liden
Swindon
Wiltshire
SN3 6NL





REGISTERED NUMBER: 07336635 (England and Wales)





ACCOUNTANTS: Dury & Company
51 Peaslands Road
Sidmouth
Devon
EX10 9BE

R H Pharma Limited (Registered number: 07336635)

Balance Sheet
30 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 200,000 248,049
Tangible assets 5 102,500 103,288
302,500 351,337

CURRENT ASSETS
Stocks 26,000 26,000
Debtors 6 45,819 55,943
Cash at bank and in hand 1,064 3,356
72,883 85,299
CREDITORS
Amounts falling due within one year 7 298,571 241,490
NET CURRENT LIABILITIES (225,688 ) (156,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,812

195,146

CREDITORS
Amounts falling due after more than one
year

8

292,277

345,195
NET LIABILITIES (215,465 ) (150,049 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (215,565 ) (150,149 )
SHAREHOLDERS' FUNDS (215,465 ) (150,049 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

R H Pharma Limited (Registered number: 07336635)

Balance Sheet - continued
30 March 2023



The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





S R Syed - Director


R H Pharma Limited (Registered number: 07336635)

Notes to the Financial Statements
for the Period 1 April 2022 to 30 March 2023

1. STATUTORY INFORMATION

R H Pharma Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' including the provisions of Section 1A ''Small Entities'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Financial Statements are prepared on Going Concern basis. However, material uncertainties exist with regard to the Company's ability to continue as a Going Concern, those uncertainties being the continued support of the Bank and other finance facilities.

The Directors consider that the Balance Sheet values are accurate and represent realistic net realisable values, in particular with regard to the carrying values of Fixed Assets (both intangible and tangible, see notes 5 and 6 respectively).

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2012 and 2015, is being amortised evenly over it's estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


R H Pharma Limited (Registered number: 07336635)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023

2. ACCOUNTING POLICIES - continued
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 period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 30 March 2023 381,616
AMORTISATION
At 1 April 2022 133,567
Charge for period 19,081
Impairments 28,968
At 30 March 2023 181,616
NET BOOK VALUE
At 30 March 2023 200,000
At 31 March 2022 248,049

During the year to 31 March 2023 an impairment adjustment has been made to reduce the carrying value of Goodwill to the Directors' best estimate of its current recoverable value.

R H Pharma Limited (Registered number: 07336635)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 30 March 2023 100,000 13,118 113,118
DEPRECIATION
At 1 April 2022 - 9,830 9,830
Charge for period - 788 788
At 30 March 2023 - 10,618 10,618
NET BOOK VALUE
At 30 March 2023 100,000 2,500 102,500
At 31 March 2022 100,000 3,288 103,288

The net book value of tangible fixed assets includes £NIL (2022 - £ 1,340 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,991 43,768
Other debtors 10,828 12,175
45,819 55,943

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 132,049 95,343
Hire purchase contracts - 464
Trade creditors 67,519 75,937
Taxation and social security 359 443
Other creditors 98,644 69,303
298,571 241,490

Other creditors includes amounts owed to Directors in the sum of £39,916 at the year end date (2022 - £26,572).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 278,233 313,402
Other creditors 14,044 31,793
292,277 345,195

R H Pharma Limited (Registered number: 07336635)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 121,363 162,632

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 82,000 61,023
Bank loans 328,282 347,722
410,282 408,745

The bank loans (Lloyds Bank Plc) are secured with fixed and floating charges on the assets of RH Pharma Ltd and personal guarantees provided by the directors/shareholders of RH Pharma Ltd.

The bank overdraft is a pharmacy trade-specific cash-advance facility provided by Rx Bridge and is secured by directors personal guarantees.

10. ULTIMATE CONTROLLING PARTY

The directors own 100% of the share capital and control the company.