Company registration number 12998165 (England and Wales)
ALLOPATHIC HEALTHCARE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
ALLOPATHIC HEALTHCARE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ALLOPATHIC HEALTHCARE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
175,000
200,000
Tangible assets
4
15,992
14,303
190,992
214,303
Current assets
Stocks
35,000
45,000
Debtors
5
246,566
131,880
Cash at bank and in hand
152,209
283,566
433,775
460,446
Creditors: amounts falling due within one year
6
(425,062)
(550,559)
Net current assets/(liabilities)
8,713
(90,113)
Net assets
199,705
124,190
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
199,605
124,090
Total equity
199,705
124,190

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Kamran Sarwar
Director
Company registration number 12998165 (England and Wales)
ALLOPATHIC HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Allopathic Healthcare Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 65 Woolmore Road, Birmingham, UK, B23 7EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

1.4
Intangible fixed assets - goodwill

Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
18% on reducing balance
Motor vehicles
18% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

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

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ALLOPATHIC HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
6
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
250,000
Amortisation and impairment
At 1 December 2022
50,000
Amortisation charged for the year
25,000
At 30 November 2023
75,000
Carrying amount
At 30 November 2023
175,000
At 30 November 2022
200,000
ALLOPATHIC HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 December 2022
21,009
-
0
21,009
Additions
-
0
5,200
5,200
At 30 November 2023
21,009
5,200
26,209
Depreciation and impairment
At 1 December 2022
6,706
-
0
6,706
Depreciation charged in the year
2,575
936
3,511
At 30 November 2023
9,281
936
10,217
Carrying amount
At 30 November 2023
11,728
4,264
15,992
At 30 November 2022
14,303
-
0
14,303
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
85,903
102,999
Other debtors
160,663
28,881
246,566
131,880
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
122,901
132,103
Corporation tax
29,538
26,195
Other taxation and social security
1,337
-
0
Other creditors
271,286
392,261
425,062
550,559
ALLOPATHIC HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
7
Related Party Disclosures

As at 30 November 2023 the following balance, included in other creditors due within one year, was amounts due to related company:

 

Daventry Pharma Ltd : £170,000

 

The above balance is repayable on demand.

 

 

As at 30 November 2023 the following balance, included in other debtors due within one year, was amounts due from related company:

 

Rhodium Pharma Ltd : £130,000

 

The above balance is repayable on demand.

8
Ultimate Controlling Party

The company is jointly controlled by Daventry Pharma Ltd and Rhodium Group Ltd.

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