Registered number
11095868
Oxheypharm Limited
Filleted Accounts
31 March 2024
Oxheypharm Limited
Registered number: 11095868
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 548,443 586,050
Tangible assets 4 6,606 9,827
555,049 595,877
Current assets
Stocks 52,722 59,722
Debtors 5 93,848 95,217
Cash at bank and in hand 175,643 125,822
322,213 280,761
Creditors: amounts falling due within one year 6 (257,829) (255,659)
Net current assets 64,384 25,102
Total assets less current liabilities 619,433 620,979
Creditors: amounts falling due after more than one year 7 (441,544) (480,236)
Provisions for liabilities (1,652) (2,457)
Net assets 176,237 138,286
Capital and reserves
Called up share capital 100 100
Profit and loss account 176,137 138,186
Shareholders' funds 176,237 138,286
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs. M. Raja
Director
Approved by the board on 18 November 2024
Oxheypharm Limited
Notes to the Accounts
for the year ended 31 March 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 tax. 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 when the service is completed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangible assets are amortised on a straight line over their expected useful life as follows:
Goodwill over 20 years
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:
Fixtures, fittings and equipment 20%/25% Straight line
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
Trade debtors are amounts due from customers for goods sold and services provided in the ordinary course of business. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods and services that have been provided in the ordinary course of the business by suppliers. Trade creditors are classified as current liabilities of the company if the company does not have unconditional rights, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Taxation
The tax expense for the period comprises current and, where applicable deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using 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.

Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.
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 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 752,149
At 31 March 2024 752,149
Amortisation
At 1 April 2023 166,099
Provided during the year 37,607
At 31 March 2024 203,706
Net book value
At 31 March 2024 548,443
At 31 March 2023 586,050
4 Tangible fixed assets
Fixtures, fittings and equipments
£
Cost
At 1 April 2023 19,212
At 31 March 2024 19,212
Depreciation
At 1 April 2023 9,385
Charge for the year 3,221
At 31 March 2024 12,606
Net book value
At 31 March 2024 6,606
At 31 March 2023 9,827
5 Debtors 2024 2023
£ £
Trade debtors 72,265 74,253
Other debtors 21,583 20,964
93,848 95,217
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 39,547 38,327
Trade creditors 137,513 126,277
Taxation and social security costs 23,331 17,226
Other creditors 57,438 73,829
257,829 255,659
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 441,544 480,236
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 246,141 288,039
Secured bank loans 445,250 477,208
The bank loan is secured by a fixed and floating charge over all the assets of the company.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 172,021 150,001
10 Controlling party
There is no controlling party as no shareholder has more than 50% beneficial holding in the company.
11 Other information
Oxheypharm Limited is a private company limited by shares and incorporated in England. Its registered office is:
315 Preswick Road
Watford
Herfordshire
WD19 6UT
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