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Registered number: 14787711









LPOD RX LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
LPOD RX LIMITED
REGISTERED NUMBER: 14787711

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

  

Fixed assets
  

Tangible assets
 5 
42,585

  
42,585

Current assets
  

Stocks
 6 
624,192

Debtors: amounts falling due within one year
 7 
831,645

  
1,455,837

Creditors: amounts falling due within one year
 8 
(1,493,381)

Net current (liabilities)
  
 
 
(37,544)

  

  

  

Net assets
  
5,041


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
5,040

  
5,041


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2024.




Andrew Robert Sloman
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

LPOX RX Limited is a private company limited by shares, incorporated in England and Wales under company number 14787711. The company was incorporated on the 10th April 2023 and this is the first set of financial statements. The address of the registered office is The Woods, Haywood Road, Warwick, CV34 5AH. These accounts have been presented in pound sterling as this is the currency of the primary economic environment in which the company operates. The company commenced trading on the 1st September 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of Aurelius Crocodile Limited as at 31 March 2024 and these financial statements may be obtained from Companies House.

Page 2

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Going concern

For the period ended 31 March 2024, the company recorded a net profit of £5,040, with net assets of £5,041 at the balance sheet date. Expert Health Limited, the parent company, has provided confirmation of its intention to continue its business relationship with LPOD RX Limited and provide operational support for a period of at least 12 months from the date of approval of the financial statements. Following a review of forecasts and the group's current financial position, the directors believe that the group and parent company have sufficient resources to meet its obligations when they fall due. As such, the going concern basis has been adopted in preparing the annual report and financial statements.

 
2.4

Revenue

All revenue arises from the dispensing and distribution of private prescriptions.  Revenue is stated at invoice value excluding discounts and value added tax. Revenue comprises sales of services at invoice or reimbursement value less discounts and excluding value added tax.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue from the sale of goods is recognised on the satisfaction of performance obligations, such as the transfer of a promised good, identified in the contract between the Company and the customer.

A receivable is recognised when the goods are dispatched as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 3

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
36 months
Medical equipment
-
36 months

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is 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.
A review of stock as at 31 March 2024 determined that no impairment provision was required.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Page 4

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, the directors are requied to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The directors do not believe there are any critical judgements in applying the Company's accounting policies in the current period.


4.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


periodended
     31 March
        2024
            No.






Clinical and Pharmacy
7


5.


Tangible fixed assets





Computer equipment
Medical Equipment
Total

£
£
£



Cost or valuation


Additions
21,055
24,250
45,305



At 31 March 2024

21,055
24,250
45,305



Depreciation


Charge for the period on owned assets
585
2,135
2,720



At 31 March 2024

585
2,135
2,720



Net book value



At 31 March 2024
20,470
22,115
42,585

Page 5

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Stock

2024
£

Pharmaceutical supplies
624,192

624,192




7.


Debtors

2024
£


VAT reclaimable
830,754

Prepayments and accrued income
891

831,645



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
459,540

Amounts owed to group undertakings
636,966

Other taxation and social security
4,561

Accruals and deferred income
392,314

1,493,381



9.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary shares share of £1.00
1




Page 6

 
LPOD RX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Pension commitments

The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,084. Contributions totalling £nil were payable to the fund at the reporting date.


11.


Related party transactions

LPOD RX Limited have chosen to exercise the exemption under FRS 101.8(k) to exempt themselves from disclosing related party transactions with wholly owned group companies.


12.


Post balance sheet events

There have been no significant events between the period end and the date of approval of these financial statements which would require a change to or disclosure in the financial statements.


13.


Controlling party

The immediate parent undertaking is Expert Health UK Limited, a company registered in England and Wales. The registered office address is The Woods, Haywood Road, Warwick, CV34 5AH.
The ultimate parent undertaking and controlling party of the Company is Aur Gp Holdco (UK) Limited, a company registered in the United Kingdom.  The registered office address is 6th Floor, 33 Glasshouse Street, London W1B 5DG.
Consolidated financial statements for the smallest and largest group of companies are prepared by Aurelius Crocodile Limited and may be obtained from Companies House. The registered office address is 6th Floor, 33 Glasshouse Street, London W1B 5DG.


14.


Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2024 was unqualified.

The audit report was signed on 27 June 2024 by Iain Round BSc FCA (Senior Statutory Auditor) on behalf of Beever and Struthers
Chartered Accountants and Statutory Auditors
.

 
Page 7