Registered number
05715835
SEBPharm Limited
Filleted Accounts
29 February 2024
SEBPharm Limited
Registered number: 05715835
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 13,475 49,195
Current assets
Stocks 51,173 52,458
Debtors 5 541,307 442,518
Cash at bank and in hand 130,193 206,170
722,673 701,146
Creditors: amounts falling due within one year 6 (196,013) (197,661)
Net current assets 526,660 503,485
Net assets 540,135 552,680
Capital and reserves
Called up share capital 20 20
Profit and loss account 540,115 552,660
Shareholder's funds 540,135 552,680
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
AO Fasae
Director
Approved by the board on 5 September 2024
SEBPharm Limited
Notes to the Accounts
for the period from 1 June 2023 to 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 1,085,576
At 29 February 2024 1,085,576
Amortisation
At 1 June 2023 1,085,576
At 29 February 2024 1,085,576
Net book value
At 29 February 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 9,891 50,571 98,362 158,824
Additions - 275 - 275
Disposals - - (89,264) (89,264)
At 29 February 2024 9,891 50,846 9,098 69,835
Depreciation
At 1 June 2023 1,385 48,386 59,858 109,629
Charge for the period 148 461 4,331 4,940
On disposals - - (58,209) (58,209)
At 29 February 2024 1,533 48,847 5,980 56,360
Net book value
At 29 February 2024 8,358 1,999 3,118 13,475
At 31 May 2023 8,506 2,185 38,504 49,195
5 Debtors 2024 2023
£ £
Trade debtors 146,462 102,736
Other debtors 394,845 339,782
541,307 442,518
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 178,658 180,625
Taxation and social security costs 12,090 12,722
Other creditors 5,265 4,314
196,013 197,661
7 Events after the reporting date
The company's entire ordinary share capital was acquired by Raif Pharma Limited on the 7th March 2024.
8 Related party transactions
The company leases its trading premises from SE Bargh.
9 Controlling party
In the opinion of the directors, the controlling party is Raif Pharma Limited.
10 Other information
SEBPharm Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Carlton Lane
Lofthouse
Wakefield
WF3 3LJ
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