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REGISTERED NUMBER: 09993255 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

PharmaSEAL International Limited

PharmaSEAL International Limited (Registered number: 09993255)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PharmaSEAL International Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Cheema
M Ahmed
G N S Dunn





SECRETARY:





REGISTERED OFFICE: Ingenuity Centre
Nottingham University Innovation Park
Triumph Rpad
Nottingham
NG7 2TU





REGISTERED NUMBER: 09993255 (England and Wales)





ACCOUNTANTS: M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

PharmaSEAL International Limited (Registered number: 09993255)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,305 3,377

CURRENT ASSETS
Debtors 5 83,239 315,915
Cash at bank 463,584 260,470
546,823 576,385
CREDITORS
Amounts falling due within one year 6 293,524 675,552
NET CURRENT ASSETS/(LIABILITIES) 253,299 (99,167 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,604

(95,790

)

CREDITORS
Amounts falling due after more than one
year

7

27,018

31,624
NET ASSETS/(LIABILITIES) 229,586 (127,414 )

CAPITAL AND RESERVES
Called up share capital 8 5 5
Share premium 9 2,723,204 2,188,541
Retained earnings 9 (2,493,623 ) (2,315,960 )
SHAREHOLDERS' FUNDS 229,586 (127,414 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PharmaSEAL International Limited (Registered number: 09993255)

Balance Sheet - continued
31 March 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2024 and were signed on its behalf by:





D Cheema - Director


PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

PharmaSEAL International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current tax which is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 13,613
Additions 1,580
At 31 March 2024 15,193
DEPRECIATION
At 1 April 2023 10,236
Charge for year 1,652
At 31 March 2024 11,888
NET BOOK VALUE
At 31 March 2024 3,305
At 31 March 2023 3,377

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 68,941 1,465
Other debtors 575 397
Tax 357 289,314
VAT 6,639 13,779
Prepayments 6,727 10,960
83,239 315,915

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 112,261 125,096
Tax (110,891 ) -
Social security and other taxes 17,182 309,970
Other creditors 13,619 11,089
Deferred income 245,041 219,897
Accrued expenses 11,312 4,500
293,524 675,552

PharmaSEAL International Limited (Registered number: 09993255)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 5,000 5,000
Bank loans - 2-5 years 15,000 15,000
Bank loans more 5 yr by instal 7,018 11,624
27,018 31,624

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,018 11,624

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100,000 Ordinary £0.00001 1 1
403,954 A Ordinary £0.00001 4 4
5 5

10,417 Ordinary shares of £0.00001 each were allotted and fully paid for cash at par during the year.

59,407 A Ordinary shares of £0.00001 each were allotted as fully paid at a premium of £9.00 per share during the year.

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (2,315,960 ) 2,188,541 (127,419 )
Deficit for the year (177,663 ) (177,663 )
Cash share issue - 534,663 534,663
At 31 March 2024 (2,493,623 ) 2,723,204 229,581

10. GOING CONCERN

In common with other start-up companies, for 2023 and 2024, expenditure exceeded revenue. The director's firmly believe that they will be able to secure sufficient funds from a combination of trading activities, loans and /or additional capital from existing and new investors to allow the company to meet its obligations as they fall due. Accordingly, the accounts have been prepared on a going concern basis.