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REGISTERED NUMBER: 11683257 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Redcliffe Hill Pharma Ltd

Redcliffe Hill Pharma Ltd (Registered number: 11683257)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Redcliffe Hill Pharma Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: M A Akbar





REGISTERED OFFICE: 8 Waring House
Redcliffe Hill
Bristol
BS1 6TB





REGISTERED NUMBER: 11683257 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,788,879 46,850
Tangible assets 5 65,790 54,519
1,854,669 101,369

CURRENT ASSETS
Stocks 6 117,602 36,648
Debtors 7 946,165 476,528
Cash at bank and in hand 306,658 99,067
1,370,425 612,243
CREDITORS
Amounts falling due within one year 8 1,275,923 255,664
NET CURRENT ASSETS 94,502 356,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,949,171

457,948

CREDITORS
Amounts falling due after more than one year 9 (1,587,657 ) (33,391 )

PROVISIONS FOR LIABILITIES 11 (10,580 ) (341 )
NET ASSETS 350,934 424,216

CAPITAL AND RESERVES
Called up share capital 12 5,000 5,000
Retained earnings 13 345,934 419,216
SHAREHOLDERS' FUNDS 350,934 424,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Balance Sheet - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





M A Akbar - Director


Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Redcliffe Hill Pharma Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance basis
Motor vehicles - 25% on reducing balance basis
Computer equipment - 33.33% on reducing balance basis

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022 186,500
Additions 1,978,402
At 30 November 2023 2,164,902
AMORTISATION
At 1 December 2022 139,650
Amortisation for year 236,373
At 30 November 2023 376,023
NET BOOK VALUE
At 30 November 2023 1,788,879
At 30 November 2022 46,850

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 3,116 81,698 612 85,426
Additions 10,718 - 23,365 34,083
At 30 November 2023 13,834 81,698 23,977 119,509
DEPRECIATION
At 1 December 2022 943 29,488 476 30,907
Charge for year 1,934 13,052 7,826 22,812
At 30 November 2023 2,877 42,540 8,302 53,719
NET BOOK VALUE
At 30 November 2023 10,957 39,158 15,675 65,790
At 30 November 2022 2,173 52,210 136 54,519

6. STOCKS
2023 2022
£    £   
Stocks 117,602 36,648

Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 654,161 114,420
Other debtors 137,990 143,518
Pharmacy purchase costs - 64,576
Akbar Management Loan 154,014 154,014
946,165 476,528

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 267,405 -
Trade creditors 794,462 175,655
Tax 62,960 42,695
Social security and other taxes 55,406 2,329
Pension Control 2,800 147
Other creditors 20,000 -
Directors' loan accounts 54,026 14,696
Accrued expenses 18,864 20,142
1,275,923 255,664

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 1,587,657 33,391

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bounceback Loan 25,000 33,391

Repayable by instalments
Bank loans more 5 yr by instal 1,562,657 -

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 267,405 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bounceback Loan 25,000 33,391

Repayable by instalments
Bank loans more 5 yr by instal 1,562,657 -

Redcliffe Hill Pharma Ltd (Registered number: 11683257)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 10,580 341

Deferred
tax
£   
Balance at 1 December 2022 341
Provided during year 10,239
Balance at 30 November 2023 10,580

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary 1 5,000 5,000

13. RESERVES
Retained
earnings
£   

At 1 December 2022 419,216
Deficit for the year (18,282 )
Dividends (55,000 )
At 30 November 2023 345,934