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 |