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Registered Number: 02132448
England and Wales

 

 

 

J K PHARMACEUTICALS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Director Nathaniel AMOAH
Registered Number 02132448
Registered Office 724 MANSFIELD ROAD
WOODTHORPE NOTTINGHAM
NG5 3FW
Accountants J and Co. Accountants
85 Great Portland Street,,W1W 7LT
First Floor
LONDON
United Kingdom
W1W 7LT
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 September 2023.
Principal activities
Principal activity of the company during the financial year was that of dispensing chemists in specialised stores.
Director
The director who served the company throughout the year was as follows:
Nathaniel AMOAH
Political and charitable donations
During the year the company made the following political donations:
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Nathaniel AMOAH
Director

Date approved: 21 October 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of J K PHARMACEUTICALS LIMITED for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J K PHARMACEUTICALS LIMITED for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of J K PHARMACEUTICALS LIMITED, as a body, in accordance with the terms of our engagement letter dated Our work has been undertaken solely to prepare for your approval the accounts of J K PHARMACEUTICALS LIMITED and state those matters that we have agreed to state to the Board of Directors of J K PHARMACEUTICALS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J K PHARMACEUTICALS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that J K PHARMACEUTICALS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J K PHARMACEUTICALS LIMITED. You consider that J K PHARMACEUTICALS LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of J K PHARMACEUTICALS 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 accounts
30 September 2023



....................................................
J and Co. Accountants
85 Great Portland Street,,W1W 7LT
First Floor
LONDON
United Kingdom
W1W 7LT
21 October 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 708,481   
Tangible fixed assets 4 1,121    1,495 
709,602    1,495 
Current assets      
Stocks 5 32,807    31,243 
Debtors 6 150,952    796,567 
Cash at bank and in hand 89,955    11,150 
273,714    838,960 
Creditors: amount falling due within one year 7 (155,891)   (91,082)
Net current assets 117,823    747,878 
 
Total assets less current liabilities 827,425    749,373 
Net assets 827,425    749,373 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 827,325    749,273 
Shareholders' funds 827,425    749,373 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 21 October 2024 and were signed by:


-------------------------------
Nathaniel AMOAH
Director
4
General Information
J K PHARMACEUTICALS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02132448, registration address 724 MANSFIELD ROAD, WOODTHORPE NOTTINGHAM, NG5 3FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2022  
Additions 745,769    745,769 
Disposals  
At 30 September 2023 745,769    745,769 
Amortisation
At 01 October 2022  
Charge for year 37,288    37,288 
On disposals  
At 30 September 2023 37,288    37,288 
Net book values
At 30 September 2023 708,481    708,481 
At 30 September 2022  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 October 2022 53,596    53,596 
Additions  
Disposals  
At 30 September 2023 53,596    53,596 
Depreciation
At 01 October 2022 52,101    52,101 
Charge for year 374    374 
On disposals  
At 30 September 2023 52,475    52,475 
Net book values
Closing balance as at 30 September 2023 1,121    1,121 
Opening balance as at 01 October 2022 1,495    1,495 


5.

Stocks

2023
£
  2022
£
Stocks 32,807    31,243 
32,807    31,243 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   50,798 
Accrued Income 102,476   
Other Debtors 30,200    745,769 
VAT 18,276   
150,952    796,567 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 70,479    39,430 
Corporation Tax 77,238    45,458 
PAYE & Social Security 73    3,135 
Accrued Expenses 5,559    3,059 
Directors' Current Accounts 2,542   
155,891    91,082 

8.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

5