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COMPANY REGISTRATION NUMBER: 12329134
Senari Pharma Ltd
Filleted Unaudited Financial Statements
31 January 2024
Senari Pharma Ltd
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Senari Pharma Ltd
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
26,568
46,487
Cash at bank and in hand
385
42,359
--------
--------
26,953
88,846
Creditors: amounts falling due within one year
6
147,323
153,394
---------
---------
Net current liabilities
120,370
64,548
---------
--------
Total assets less current liabilities
( 120,370)
( 64,548)
---------
--------
Net liabilities
( 120,370)
( 64,548)
---------
--------
Capital and reserves
Called up share capital
155
155
Share premium account
535,956
535,956
Profit and loss account
( 656,481)
( 600,659)
---------
---------
Shareholders deficit
( 120,370)
( 64,548)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Dr S Dissanayake
Director
Company registration number: 12329134
Senari Pharma Ltd
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Directors have considered the basis of the preparation of the accounts and is satisfied that the accounts should be prepared on a going concern basis. The Directors have confirmed that they will continue to provide financial support for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: 1)
5. Debtors
2024
2023
£
£
Other debtors
26,568
46,487
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,199
3,781
Other creditors
144,124
149,613
---------
---------
147,323
153,394
---------
---------
7. Related party transactions
At the year end the company owed the Director £139,076 (2023: £128,716).