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Registered number: 03200946
Texpharma Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Adbell International Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03200946
2023 2022
Notes
FIXED ASSETS
Investments 4 110 110
110 110
CURRENT ASSETS
Debtors 5 1,900,771 1,957,545
1,900,771 1,957,545
Creditors: Amounts Falling Due Within One Year 6 (11,102 ) (101,697 )
NET CURRENT ASSETS (LIABILITIES) 1,889,669 1,855,848
TOTAL ASSETS LESS CURRENT LIABILITIES 1,889,779 1,855,958
NET ASSETS 1,889,779 1,855,958
CAPITAL AND RESERVES
Called up share capital 7 7 7
Profit and Loss Account 1,889,772 1,855,951
SHAREHOLDERS' FUNDS 1,889,779 1,855,958
Page 1
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Vania Casini
Director
26/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Texpharma Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03200946 . The registered office is Birchin Court, 20 Birchin Lane, London, EC3V 9DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the modification to fair value for the revaluation of the investment property.
The principal accounting policies adopted in the preparation of the financial statements are set out below. The accounting policies have been consistently applied within the financial statements.
The company's functional and presentation currency is € Euro.
2.2. Turnover
Turnover represents the company's share of profit in the Texpharma partnership.
2.3. Financial Instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.
Financial assets and financial liabilities are recognised initially at fair value. Financial assets are reduced for provision, for impairment, if required.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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.
2.6. Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates.
2.7. Investments
Fixed asset investments are stated at cost less provision for diminution in value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Investments
Listed
Cost
As at 1 January 2023 110
As at 31 December 2023 110
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 110
As at 1 January 2023 110
The company has a 10% interest in a partnership, which trades outside the United Kingdom. The share of profit in the partnership for the year amounts to EUR 48,518 (2022 : EUR 526,231). The share of net assets in the partnership amounts to EUR 1,900,954 (2022 : EUR 1,957,651).
5. Debtors
2023 2022
Due within one year
Called up share capital not paid 4 4
Due after more than one year
Amounts owed by other participating interests 1,900,767 1,957,541
1,900,771 1,957,545
6. Creditors: Amounts Falling Due Within One Year
2023 2022
Corporation tax 7,933 98,877
Accruals and deferred income 3,169 2,820
11,102 101,697
7. Share Capital
2023 2022
Called Up Share Capital not Paid 4 4
Called Up Share Capital has been paid up 3 3
Amount of Allotted, Called Up Share Capital 7 7
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