Acorah Software Products - Accounts Production 14.6.300 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 11661664 Mr Kishore Mandava iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11661664 2022-11-30 11661664 2023-11-30 11661664 2022-12-01 2023-11-30 11661664 frs-core:CurrentFinancialInstruments 2023-11-30 11661664 frs-core:Non-currentFinancialInstruments 2023-11-30 11661664 frs-core:NetGoodwill 2023-11-30 11661664 frs-core:NetGoodwill 2022-12-01 2023-11-30 11661664 frs-core:NetGoodwill 2022-11-30 11661664 frs-core:ShareCapital 2023-11-30 11661664 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 11661664 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11661664 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 11661664 frs-bus:SmallEntities 2022-12-01 2023-11-30 11661664 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11661664 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11661664 frs-bus:Director1 2022-12-01 2023-11-30 11661664 frs-countries:EnglandWales 2022-12-01 2023-11-30 11661664 2021-11-30 11661664 2022-11-30 11661664 2021-12-01 2022-11-30 11661664 frs-core:CurrentFinancialInstruments 2022-11-30 11661664 frs-core:Non-currentFinancialInstruments 2022-11-30 11661664 frs-core:ShareCapital 2022-11-30 11661664 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 11661664
Medisure Pharma Ltd
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11661664
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 503,192 527,192
503,192 527,192
CURRENT ASSETS
Stocks 5 42,122 44,625
Debtors 6 26,927 16,997
Cash at bank and in hand 194,482 72,866
263,531 134,488
Creditors: Amounts Falling Due Within One Year 7 (220,137 ) (213,019 )
NET CURRENT ASSETS (LIABILITIES) 43,394 (78,531 )
TOTAL ASSETS LESS CURRENT LIABILITIES 546,586 448,661
Creditors: Amounts Falling Due After More Than One Year 8 (486,447 ) (379,425 )
NET ASSETS 60,139 69,236
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 60,039 69,136
SHAREHOLDERS' FUNDS 60,139 69,236
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kishore Mandava
Director
14/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Medisure Pharma Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11661664 . The registered office is Unit 5, The Freehold Industrial Centre, Amberley Way, Hounslow, Hounslow, TW4 6BX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 605,192
As at 30 November 2023 605,192
Amortisation
As at 1 December 2022 78,000
Provided during the period 24,000
As at 30 November 2023 102,000
Net Book Value
As at 30 November 2023 503,192
As at 1 December 2022 527,192
5. Stocks
2023 2022
£ £
Finished goods 42,122 44,625
6. Debtors
2023 2022
£ £
Due within one year
VAT 9,211 8,825
Other taxes and social security 749 922
9,960 9,747
Due after more than one year
Trade debtors 16,967 7,250
26,927 16,997
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 163,484 163,082
Bank loans and overdrafts 43,437 34,347
Corporation tax 10,901 13,340
Other creditors 65 -
Accruals and deferred income 2,250 2,250
220,137 213,019
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 288,594 320,565
Other creditors 141,658 29,200
Directors loan account 56,195 29,660
486,447 379,425
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5