9 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06469546 2023-02-01 2024-01-31 06469546 2024-01-31 06469546 2023-01-31 06469546 2022-02-01 2023-01-31 06469546 2023-01-31 06469546 2022-01-31 06469546 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 06469546 core:MotorVehicles 2023-02-01 2024-01-31 06469546 core:NetGoodwill 2023-02-01 2024-01-31 06469546 bus:RegisteredOffice 2023-02-01 2024-01-31 06469546 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 06469546 bus:Director1 2023-02-01 2024-01-31 06469546 bus:Director2 2023-02-01 2024-01-31 06469546 bus:CompanySecretary1 2023-02-01 2024-01-31 06469546 core:NetGoodwill 2023-01-31 06469546 core:NetGoodwill 2024-01-31 06469546 core:FurnitureFittingsToolsEquipment 2023-01-31 06469546 core:MotorVehicles 2023-01-31 06469546 core:FurnitureFittingsToolsEquipment 2024-01-31 06469546 core:MotorVehicles 2024-01-31 06469546 core:WithinOneYear 2024-01-31 06469546 core:WithinOneYear 2023-01-31 06469546 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 06469546 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 06469546 core:ShareCapital 2024-01-31 06469546 core:ShareCapital 2023-01-31 06469546 core:RetainedEarningsAccumulatedLosses 2024-01-31 06469546 core:RetainedEarningsAccumulatedLosses 2023-01-31 06469546 core:ShareCapital 2022-01-31 06469546 core:RetainedEarningsAccumulatedLosses 2022-01-31 06469546 core:PreviouslyStatedAmount core:ShareCapital 2024-01-31 06469546 core:NetGoodwill 2023-01-31 06469546 core:FurnitureFittingsToolsEquipment 2023-01-31 06469546 core:MotorVehicles 2023-01-31 06469546 bus:Director1 2023-01-31 06469546 bus:Director1 2024-01-31 06469546 bus:Director2 2023-01-31 06469546 bus:Director2 2024-01-31 06469546 bus:Director1 2022-01-31 06469546 bus:Director1 2023-01-31 06469546 bus:Director2 2022-01-31 06469546 bus:Director2 2023-01-31 06469546 bus:Director1 2022-02-01 2023-01-31 06469546 bus:Director2 2022-02-01 2023-01-31 06469546 bus:SmallEntities 2023-02-01 2024-01-31 06469546 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06469546 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06469546 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06469546 bus:FullAccounts 2023-02-01 2024-01-31
Company registration number: 06469546
Vale Pharma Ltd
Unaudited filleted financial statements
31 January 2024
Vale Pharma Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Vale Pharma Ltd
Directors and other information
Directors Mr M Z Karim
Mr M B Karim
Secretary Mr M B Karim
Company number 06469546
Registered office 2 Grimscar Avenue
Birkby
Huddersfield
West Yorkshire
HD2 2TW
Accountants Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
Vale Pharma Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Vale Pharma Ltd
Year ended 31 January 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 January 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
1 October 2024
Vale Pharma Ltd
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 375,000 450,000
Tangible assets 6 5,509 7,345
_______ _______
380,509 457,345
Current assets
Stocks 52,653 50,254
Debtors 7 119,865 109,451
Cash at bank and in hand 398,002 338,837
_______ _______
570,520 498,542
Creditors: amounts falling due
within one year 8 ( 810,413) ( 792,298)
_______ _______
Net current liabilities ( 239,893) ( 293,756)
_______ _______
Total assets less current liabilities 140,616 163,589
_______ _______
Net assets 140,616 163,589
_______ _______
Capital and reserves
Called up share capital 8 8
Profit and loss account 140,608 163,581
_______ _______
Shareholders funds 140,616 163,589
_______ _______
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.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 October 2024 , and are signed on behalf of the board by:
Mr M Z Karim
Director
Company registration number: 06469546
Vale Pharma Ltd
Statement of changes in equity
Year ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2022 8 220,948 220,956
Loss for the year ( 57,367) ( 57,367)
_______ _______ _______
Total comprehensive income for the year - ( 57,367) ( 57,367)
_______ _______ _______
At 31 January 2023 and 1 February 2023 8 163,581 163,589
Loss for the year ( 22,973) ( 22,973)
_______ _______ _______
Total comprehensive income for the year - ( 22,973) ( 22,973)
_______ _______ _______
At 31 January 2024 8 140,608 140,616
_______ _______ _______
Vale 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 2 Grimscar Avenue, Birkby, Huddersfield, West Yorkshire, HD2 2TW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 February 2023 and 31 January 2024 1,500,000 1,500,000
_______ _______
Amortisation
At 1 February 2023 1,050,000 1,050,000
Charge for the year 75,000 75,000
_______ _______
At 31 January 2024 1,125,000 1,125,000
_______ _______
Carrying amount
At 31 January 2024 375,000 375,000
_______ _______
At 31 January 2023 450,000 450,000
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2023 and 31 January 2024 30,060 9,741 39,801
_______ _______ _______
Depreciation
At 1 February 2023 25,815 6,641 32,456
Charge for the year 1,061 775 1,836
_______ _______ _______
At 31 January 2024 26,876 7,416 34,292
_______ _______ _______
Carrying amount
At 31 January 2024 3,184 2,325 5,509
_______ _______ _______
At 31 January 2023 4,245 3,100 7,345
_______ _______ _______
7. Debtors
2024 2023
£ £
Other debtors 119,865 109,451
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 1 1
Trade creditors 146,676 138,586
Corporation tax 13,726 4,663
Social security and other taxes 3,143 3,645
Other creditors 646,867 645,403
_______ _______
810,413 792,298
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr M Z Karim ( 226,174) ( 600) ( 226,774)
Mr M B Karim ( 267,196) ( 600) ( 267,796)
_______ _______ _______
( 493,370) ( 1,200) ( 494,570)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr M Z Karim ( 275,657) 49,483 ( 226,174)
Mr M B Karim ( 316,596) 49,400 ( 267,196)
_______ _______ _______
( 592,253) 98,883 ( 493,370)
_______ _______ _______
10. Controlling party
The ultimate controlling party of the company are its Director.