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Company Registration No. 13498615 (England and Wales)
Farooq Pharma Ltd Unaudited accounts for the year ended 31 July 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Farooq Pharma Ltd for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Farooq Pharma Ltd for the year ended 31 July 2024 as set out on pages 3 - 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Sigma Chartered Accountants Chartered Accountants J O Hunter House 409 Bradford Road Huddersfield West Yorkshire HD2 2RB 4 November 2024
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Farooq Pharma Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,609 
7,823 
Current assets
Debtors
322 
322 
Cash at bank and in hand
76,499 
88,848 
76,821 
89,170 
Creditors: amounts falling due within one year
(7,986)
(10,451)
Net current assets
68,835 
78,719 
Total assets less current liabilities
82,444 
86,542 
Creditors: amounts falling due after more than one year
(13,882)
(18,335)
Provisions for liabilities
Deferred tax
(2,593)
(1,643)
Net assets
65,969 
66,564 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
65,959 
66,554 
Shareholders' funds
65,969 
66,564 
For the year ending 31 July 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 November 2024 and were signed on its behalf by
Umar Farooq Director Company Registration No. 13498615
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Farooq Pharma Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Farooq Pharma Ltd is a private company, limited by shares, registered in England and Wales, registration number 13498615. The registered office is 94 Park Lea, Huddersfield, West Yorkshire, HD2 1QP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible Fixed Assets
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost.
Computer equipment
25% on cost
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2023
12,749 
Additions
11,964 
At 31 July 2024
24,713 
Depreciation
At 1 August 2023
4,926 
Charge for the year
6,178 
At 31 July 2024
11,104 
Net book value
At 31 July 2024
13,609 
At 31 July 2023
7,823 
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Farooq Pharma Ltd Notes to the Accounts for the year ended 31 July 2024
5
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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