Acorah Software Products - Accounts Production 15.0.600 false true false 6 March 2023 31 March 2024 31 March 2024 14706959 Mr Muneeb Akhtar Miss Farha Ashraf Piranie iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14706959 2023-03-05 14706959 2024-03-31 14706959 2023-03-06 2024-03-31 14706959 frs-core:CurrentFinancialInstruments 2024-03-31 14706959 frs-core:Non-currentFinancialInstruments 2024-03-31 14706959 frs-core:NetGoodwill 2024-03-31 14706959 frs-core:NetGoodwill 2023-03-06 2024-03-31 14706959 frs-core:NetGoodwill 2023-03-05 14706959 frs-core:PlantMachinery 2024-03-31 14706959 frs-core:PlantMachinery 2023-03-06 2024-03-31 14706959 frs-core:PlantMachinery 2023-03-05 14706959 frs-core:ShareCapital 2024-03-31 14706959 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14706959 frs-bus:PrivateLimitedCompanyLtd 2023-03-06 2024-03-31 14706959 frs-bus:FilletedAccounts 2023-03-06 2024-03-31 14706959 frs-bus:SmallEntities 2023-03-06 2024-03-31 14706959 frs-bus:AuditExempt-NoAccountantsReport 2023-03-06 2024-03-31 14706959 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-06 2024-03-31 14706959 frs-bus:Director1 2023-03-06 2024-03-31 14706959 frs-bus:Director2 2023-03-06 2024-03-31 14706959 frs-countries:EnglandWales 2023-03-06 2024-03-31
Registered number: 14706959
Trustpharm Limited
Unaudited Financial Statements
For the Period 6 March 2023 to 31 March 2024
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14706959
31 March 2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 301,770
Tangible Assets 5 8,560
310,330
CURRENT ASSETS
Stocks 21,250
Debtors 6 189,114
Cash at bank and in hand 104,379
314,743
Creditors: Amounts Falling Due Within One Year 7 (155,946 )
NET CURRENT ASSETS (LIABILITIES) 158,797
TOTAL ASSETS LESS CURRENT LIABILITIES 469,127
Creditors: Amounts Falling Due After More Than One Year 8 (385,337 )
NET ASSETS 83,790
CAPITAL AND RESERVES
Called up share capital 100
Profit and Loss Account 83,690
SHAREHOLDERS' FUNDS 83,790
Page 1
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For the period ending 31 March 2024 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
Mr Muneeb Akhtar
Director
16th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trustpharm Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14706959 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
2.5. Stocks and Work in Progress
Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 6
6
4. Intangible Assets
Goodwill
£
Cost
As at 6 March 2023 -
Additions 335,300
As at 31 March 2024 335,300
Amortisation
As at 6 March 2023 -
Provided during the period 33,530
As at 31 March 2024 33,530
Net Book Value
As at 31 March 2024 301,770
As at 6 March 2023 -
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 6 March 2023 -
Additions 10,700
As at 31 March 2024 10,700
Depreciation
As at 6 March 2023 -
Provided during the period 2,140
As at 31 March 2024 2,140
Net Book Value
As at 31 March 2024 8,560
As at 6 March 2023 -
6. Debtors
31 March 2024
£
Due within one year
Trade debtors 138,270
Other debtors 50,844
189,114
7. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Trade creditors 100,002
Bank loans and overdrafts 11,595
Other creditors 10,270
Taxation and social security 34,079
155,946
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8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 263,642
Other creditors 121,695
385,337
9. Secured Creditors
Of the creditors the following amounts are secured.
31 March 2024
£
Bank loans and overdrafts 275,238
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