Pharmomentum Limited |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference when the service is completed. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Computer Equipment |
33% reducing balance |
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Other Equipment |
25% reducing balance |
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Taxation |
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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. Current tax assets and liabilities are not discounted. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Tangible fixed assets |
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Computer equipment |
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Other Equipment |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
11,277 |
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3,551 |
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14,828 |
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Disposals |
(8,832) |
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(2,359) |
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(11,191) |
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At 31 March 2024 |
2,445 |
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1,192 |
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3,637 |
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Depreciation |
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At 1 April 2023 |
9,238 |
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2,510 |
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11,748 |
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Charge for the year |
1,489 |
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841 |
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2,330 |
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On disposals |
(8,832) |
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(2,359) |
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(11,191) |
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At 31 March 2024 |
1,895 |
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992 |
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2,887 |
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Net book value |
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At 31 March 2024 |
550 |
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200 |
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750 |
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At 31 March 2023 |
2,039 |
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1,041 |
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3,080 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
- |
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9,409 |
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VAT receivable |
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390 |
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27 |
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Other debtors |
13,599 |
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- |
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13,989 |
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9,436 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Corporation tax |
- |
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285 |
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Directors loans |
- |
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27,300 |
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Accruals and deferred income |
- |
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2,300 |
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- |
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29,885 |
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6 |
Pension commitments |
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The company pays contributions into a defined contribution pension scheme the contributions in the year amounted to £60,000 (2022, £40,000) there was nothing outstanding at either year end date. |
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7 |
Controlling party |
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The company is under the control of C Quarterman |
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8 |
Other information |
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Pharmomentum Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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20 Cofton Church Lane |
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Rednal |
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Birmingham |
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West Midlands |
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B45 8PT |