Caseware UK (AP4) 2023.0.135 2023.0.135 Kajima Partnerships Limited Carnbane Health Limitedtruetrue42023-01-01falseOther letting and operating of own or leased real estate4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI654966 2023-01-01 2023-12-31 NI654966 2022-01-01 2022-12-31 NI654966 2023-12-31 NI654966 2022-12-31 NI654966 2022-01-01 NI654966 c:Director1 2023-01-01 2023-12-31 NI654966 c:Director2 2023-01-01 2023-12-31 NI654966 c:Director2 2023-12-31 NI654966 c:Director3 2023-01-01 2023-12-31 NI654966 c:Director3 2023-12-31 NI654966 c:Director4 2023-01-01 2023-12-31 NI654966 c:Director4 2023-12-31 NI654966 c:Director5 2023-01-01 2023-12-31 NI654966 c:Director6 2023-01-01 2023-12-31 NI654966 c:Director6 2023-12-31 NI654966 c:Director7 2023-01-01 2023-12-31 NI654966 c:Director7 2023-12-31 NI654966 c:RegisteredOffice 2023-01-01 2023-12-31 NI654966 c:Agent1 2023-01-01 2023-12-31 NI654966 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI654966 d:OtherPropertyPlantEquipment 2023-12-31 NI654966 d:OtherPropertyPlantEquipment 2022-12-31 NI654966 d:CurrentFinancialInstruments 2023-12-31 NI654966 d:CurrentFinancialInstruments 2022-12-31 NI654966 d:Non-currentFinancialInstruments 2023-12-31 NI654966 d:Non-currentFinancialInstruments 2022-12-31 NI654966 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI654966 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI654966 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 NI654966 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 NI654966 d:ShareCapital 2023-12-31 NI654966 d:ShareCapital 2022-12-31 NI654966 d:ShareCapital 2022-01-01 NI654966 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI654966 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI654966 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 NI654966 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI654966 d:RetainedEarningsAccumulatedLosses 2022-01-01 NI654966 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI654966 c:OrdinaryShareClass1 2023-12-31 NI654966 c:OrdinaryShareClass1 2022-12-31 NI654966 c:FRS102 2023-01-01 2023-12-31 NI654966 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI654966 c:FullAccounts 2023-01-01 2023-12-31 NI654966 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI654966 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 NI654966 d:EntityControlledByKeyManagementPersonnel2 2023-01-01 2023-12-31 NI654966 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 NI654966 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Financial Statements
Lisburn Pharma Limited
For the Year Ended 31 December 2023





































Registered number: NI654966

 
Lisburn Pharma Limited
 

Company Information


Directors
Eamonn O'Hare 
Patrick Duffy (resigned 31 January 2024)
Kirk Taylor (resigned 26 April 2023)
Nigel Chism (resigned 10 July 2024)
Kevin Hawkins 
Tyrone Allard (appointed 31 January 2024)
Christine Phillips (appointed 10 July 2024)




Registered number
NI654966



Registered office
Carnbane House
Shepherd's Way

Carnbane, Newry

BT35 6EE




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Solicitors
Carson McDowell
Murray House

4 Murray Street

Belfast

BT1 6DN





 
Lisburn Pharma Limited
 

Contents



Page
Accountant's report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 8


  
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Independent Accountant's Report to the directors of the unaudited financial statements of Lisburn Pharma Limited for the Year Ended 31 December 2023

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Lisburn Pharma Limited for the year ended 31 December 2023, which comprise  the Statement of comprehensive income, the Balance sheet, and the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Lisburn Pharma Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Lisburn Pharma Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lisburn Pharma Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 December 2023 and you have acknowledged on the Balance sheet as at 31 December 2023 your duty to ensure that Lisburn Pharma Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Lisburn Pharma Limited is exempt from the statutory audit requirement for the year ended 31 December 2023.

We have not been instructed to carry out an audit or review the financial statements of Lisburn Pharma Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   30 August 2024
Page 1

 
Lisburn Pharma Limited
Registered number:NI654966

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
97,333
97,333

  
97,333
97,333

Current assets
  

Debtors: amounts falling due within one year
 5 
104
184

Cash at bank and in hand
 6 
14,732
39,406

  
14,836
39,590

  

Creditors: amounts falling due within one year
 7 
(9,881)
(26,573)

Net current assets
  
 
 
4,955
 
 
13,017

Total assets less current liabilities
  
102,288
110,350

Creditors: amounts falling due after more than one year
 8 
(140,000)
(140,000)

  

Net liabilities
  
(37,712)
(29,650)


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
(37,716)
(29,654)

Shareholders' funds
  
(37,712)
(29,650)


Page 2

 
Lisburn Pharma Limited
Registered number:NI654966

Balance sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 30 August 2024.




................................................
Tyrone Allard
Director

The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
Lisburn Pharma Limited
 

Statement of changes in equity
For the Year Ended 31 December 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
4
(29,654)
(29,650)



Loss for the year
-
(8,062)
(8,062)


At 31 December 2023
4
(37,716)
(37,712)



Statement of changes in equity
For the Year Ended 31 December 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
4
(20,153)
(20,149)



  Profit for the year
-
(9,501)
(9,501)


At 31 December 2022
4
(29,654)
(29,650)


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
Lisburn Pharma Limited
 
 
Notes to the financial statements
For the Year Ended 31 December 2023
1.

Company information

Lisburn Pharma Limited is a private Company limited by shares incorporated in Northern Ireland. The registered office is Carnbane House, Shepherd's Way, Carnbane Industrial Estate, Newry, BT35 6EE. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that the Company has adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements.  For this reason, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business. 
The parent shareholders will provide the financial resources necessary to enable the Company to continue its normal course of operations during the coming financial year on a going concern basis for a period of 12 months from the date of signing the financial statements.  

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

Page 5

 
Lisburn Pharma Limited
 

Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Assets under construction
-
Not depreciated

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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration in the year (2022: £Nil).

Page 6

 
Lisburn Pharma Limited
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

4.


Tangible fixed assets





Assets under construction

£



Cost or valuation


At 1 January 2023
97,333



At 31 December 2023

97,333






Net book value



At 31 December 2023
97,333



At 31 December 2022
97,333


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
4
4

Other debtors
100
180

104
184



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,732
39,406



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
600
2,400

Other creditors
-
23,253

Accruals and deferred income
9,281
920

9,881
26,573


Page 7

 
Lisburn Pharma Limited
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
140,000
140,000



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4



10.


Related party transactions

The Company has availed of the exemption in s33 FRS102 from disclosing transactions with other wholly owned group companies. 
Kajima Partnerships Limited and Carnbane Health Limited are related parties of the Company by virtue of their shareholdings in the Company. At 31 December 2023, the Company owed £140,000 to its shareholders, plus accrued interest of £7,979 (2022: £920).


11.


Controlling party

The Company is jointly owned by Kajima Partnerships Limited (50% holding) and Carnbane Health Limited (50% holding).  There is, therefore, no controlling party.


Page 8