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REGISTERED NUMBER: 10167218 (England and Wales)










Em Pharma Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Em Pharma Ltd (Registered number: 10167218)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Em Pharma Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr Edward Kinsella





SECRETARY: Mrs Brenda Kinsella





REGISTERED OFFICE: 31 Sackville Street
Manchester
England
M1 3LZ





REGISTERED NUMBER: 10167218 (England and Wales)





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

Em Pharma Ltd (Registered number: 10167218)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 5,245 1,456

CURRENT ASSETS
Stocks 6 16,500 16,000
Debtors 7 329,928 162,391
Cash at bank 6,353 67,125
352,781 245,516
CREDITORS
Amounts falling due within one year 8 (336,099 ) (199,598 )
NET CURRENT ASSETS 16,682 45,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,927

47,374

CREDITORS
Amounts falling due after more than one year 9 (21,722 ) (44,619 )
NET ASSETS 205 2,755

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 105 2,655
205 2,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Em Pharma Ltd (Registered number: 10167218)

Balance Sheet - continued
31 March 2023


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.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





Mr Edward Kinsella - Director


Em Pharma Ltd (Registered number: 10167218)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
31 Sackville Street
Manchester
England
M1 3LZ

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102
Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Em Pharma Ltd (Registered number: 10167218)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

Asset class Depreciation method and rate
Office Equipment 15% straight line basis

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.




Em Pharma Ltd (Registered number: 10167218)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


DIVIDENDS
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2022 2,524
Additions 4,330
At 31 March 2023 6,854
DEPRECIATION
At 1 April 2022 1,068
Charge for year 541
At 31 March 2023 1,609
NET BOOK VALUE
At 31 March 2023 5,245
At 31 March 2022 1,456

6. STOCKS
2023 2022
£    £   
Stocks 16,500 16,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 121 -
Amounts owed by associates 329,018 160,727
Other debtors 789 1,664
329,928 162,391

Em Pharma Ltd (Registered number: 10167218)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,082 5,928
Amounts owed to associates 278,786 168,437
Taxation and social security 38,793 22,350
Other creditors 5,438 2,883
336,099 199,598

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 21,722 44,619

10. DIVIDENDS

2023(£ ) 2022(£ )
Interim dividend of £1,140.00 (2022 - £700.00) per each Ordinary shares 114,000 70,000

11. RELATED PARTY TRANSACTION

As the company is a wholly owned subsidiary of Kinsella Holdings Limited, the company has taken advantage of the exemption contained in FRS 102 'Related Party Disclosures' and has therefore not disclosed transactions or balances with entities which form part of that group.

12. PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate parent is Kinsella Holdings Limited, incorporated in England and Wales.

The ultimate controlling party is Dr Martin Kinsella.