IRIS Accounts Production v24.2.0.383 08903763 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false 16155 27008 28361 50957 12206 7794 16155 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089037632023-02-28089037632024-02-29089037632023-03-012024-02-29089037632022-02-28089037632022-03-012023-02-28089037632023-02-2808903763ns15:EnglandWales2023-03-012024-02-2908903763ns14:PoundSterling2023-03-012024-02-2908903763ns10:Director12023-03-012024-02-2908903763ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2908903763ns10:SmallEntities2023-03-012024-02-2908903763ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2908903763ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2908903763ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2908903763ns10:FullAccounts2023-03-012024-02-290890376312023-03-012024-02-2908903763ns10:Director2422023-02-2808903763ns10:Director2422023-03-012024-02-2908903763ns10:Director2422022-03-012023-02-2808903763ns10:Director2422024-02-2908903763ns10:Director2422023-02-2808903763ns10:Director22023-03-012024-02-2908903763ns10:Director32023-03-012024-02-2908903763ns10:RegisteredOffice2023-03-012024-02-2908903763ns5:CurrentFinancialInstruments2024-02-2908903763ns5:CurrentFinancialInstruments2023-02-2808903763ns5:ShareCapital2024-02-2908903763ns5:ShareCapital2023-02-2808903763ns5:FurtherSpecificReserve3ComponentTotalEquity2024-02-2908903763ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2808903763ns5:RetainedEarningsAccumulatedLosses2024-02-2908903763ns5:RetainedEarningsAccumulatedLosses2023-02-2808903763ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2908903763ns5:ComputerSoftware2023-03-012024-02-2908903763ns5:ComputerEquipment2023-03-012024-02-2908903763ns5:ComputerSoftware2024-02-2908903763ns5:FurnitureFittings2023-02-2808903763ns5:ComputerEquipment2023-02-2808903763ns5:FurnitureFittings2023-03-012024-02-2908903763ns5:FurnitureFittings2024-02-2908903763ns5:ComputerEquipment2024-02-2908903763ns5:FurnitureFittings2023-02-2808903763ns5:ComputerEquipment2023-02-2808903763ns5:CostValuationns5:ListedExchangeTraded2023-02-2808903763ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-02-2808903763ns5:AdditionsToInvestmentsns5:ListedExchangeTraded2024-02-2908903763ns5:AdditionsToInvestmentsns5:UnlistedNon-exchangeTraded2024-02-2908903763ns5:RevaluationsIncreaseDecreaseInInvestmentsns5:ListedExchangeTraded2024-02-2908903763ns5:UnlistedNon-exchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2024-02-2908903763ns5:CostValuationns5:ListedExchangeTraded2024-02-2908903763ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-02-2908903763ns5:ListedExchangeTraded2024-02-2908903763ns5:UnlistedNon-exchangeTraded2024-02-2908903763ns5:ListedExchangeTraded2023-02-2808903763ns5:UnlistedNon-exchangeTraded2023-02-2808903763ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2908903763ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28089037631ns10:Director12023-02-28089037631ns10:Director12022-02-28089037631ns10:Director12023-03-012024-02-29089037631ns10:Director12022-03-012023-02-28089037631ns10:Director12024-02-29089037631ns10:Director12023-02-28
REGISTERED NUMBER: 08903763 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

PharmacoMedics Limited

PharmacoMedics Limited (Registered number: 08903763)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PharmacoMedics Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Dr M Daruwalla
Dr K Sheth
Miss T Sheth





REGISTERED OFFICE: 5 Barrington Road
Leicester
Leicestershire
LE2 2RA





REGISTERED NUMBER: 08903763 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

PharmacoMedics Limited (Registered number: 08903763)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,000 -
Tangible assets 5 2,595 2,081
Investments 6 2,329,297 2,214,279
2,345,892 2,216,360

CURRENT ASSETS
Debtors 7 185,245 149,376
Cash at bank 628,597 627,895
813,842 777,271
CREDITORS
Amounts falling due within one year 8 101,878 173,724
NET CURRENT ASSETS 711,964 603,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,057,856

2,819,907

PROVISIONS FOR LIABILITIES 65,995 29,463
NET ASSETS 2,991,861 2,790,444

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 194,434 123,412
Retained earnings 2,797,327 2,666,932
SHAREHOLDERS' FUNDS 2,991,861 2,790,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

PharmacoMedics Limited (Registered number: 08903763)

Balance Sheet - continued
29 February 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 21 November 2024 and were signed on its behalf by:





Dr K Sheth - Director


PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

PharmacoMedics 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services. Revenue is recognised when the company obtains the right to receive consideration for services provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - Straight line over 3 years

Fixed asset investments
Fixed asset investments are shown at year end market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised costs, except for investments in non - convertable preference and non puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initally recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax 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 or deferred 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.


PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 21,000
At 29 February 2024 21,000
AMORTISATION
Amortisation for year 7,000
At 29 February 2024 7,000
NET BOOK VALUE
At 29 February 2024 14,000

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 - 7,380 7,380
Additions 257 2,042 2,299
Disposals - (4,259 ) (4,259 )
At 29 February 2024 257 5,163 5,420
DEPRECIATION
At 1 March 2023 - 5,299 5,299
Charge for year 64 1,721 1,785
Eliminated on disposal - (4,259 ) (4,259 )
At 29 February 2024 64 2,761 2,825
NET BOOK VALUE
At 29 February 2024 193 2,402 2,595
At 28 February 2023 - 2,081 2,081

6. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 2,187,943 26,336 2,214,279
Additions 7,352 2,053 9,405
Revaluations 100,083 5,530 105,613
At 29 February 2024 2,295,378 33,919 2,329,297
NET BOOK VALUE
At 29 February 2024 2,295,378 33,919 2,329,297
At 28 February 2023 2,187,943 26,336 2,214,279

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 29 February 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2018 21,478 - 21,478
Valuation in 2019 (10,779 ) 825 (9,954 )
Valuation in 2020 34,075 6,981 41,056
Valuation in 2021 41,811 (842 ) 40,969
Valuation in 2022 74,715 2,200 76,915
Valuation in 2023 (19,925 ) 1,822 (18,103 )
Valuation in 2024 100,083 5,530 105,613
Cost 2,053,920 17,403 2,071,323
2,295,378 33,919 2,329,297

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 28,094 21,524
Other debtors 157,151 127,852
185,245 149,376

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 2,172 3,258
Taxation and social security 60,489 81,648
Other creditors 39,217 88,818
101,878 173,724

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Dr K Sheth and Dr M Daruwalla
Balance outstanding at start of year 16,155 -
Amounts advanced 27,008 28,361
Amounts repaid (50,957 ) (12,206 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,794 ) 16,155

PharmacoMedics Limited (Registered number: 08903763)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loan is repayable on demand.