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REGISTERED NUMBER: 12323150 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GMPRIORITY PHARMA LTD

GMPRIORITY PHARMA LTD (REGISTERED NUMBER: 12323150)






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


GMPRIORITY PHARMA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G Meyer
Mrs D Meyer
Prof M Najlah





SECRETARY: Mrs D Meyer





REGISTERED OFFICE: Priors Hall
Priors Way
Coggeshall
Essex
CO6 1TW





REGISTERED NUMBER: 12323150 (England and Wales)





ACCOUNTANTS: Wilson Devenish
67 Newland Street
Witham
Essex
CM8 1AA

GMPRIORITY PHARMA LTD (REGISTERED NUMBER: 12323150)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 442,621 433,003

CURRENT ASSETS
Stocks 210,000 175,000
Debtors 5 42,901 36,385
Cash at bank 10,017 5,709
262,918 217,094
CREDITORS
Amounts falling due within one year 6 1,343,260 1,286,520
NET CURRENT LIABILITIES (1,080,342 ) (1,069,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(637,721

)

(636,423

)

CREDITORS
Amounts falling due after more than one
year

7

1,499

3,498
NET LIABILITIES (639,220 ) (639,921 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (639,420 ) (640,121 )
SHAREHOLDERS' FUNDS (639,220 ) (639,921 )

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.

GMPRIORITY PHARMA LTD (REGISTERED NUMBER: 12323150)

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 24 December 2024 and were signed on its behalf by:





G Meyer - Director


GMPRIORITY PHARMA LTD (REGISTERED NUMBER: 12323150)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

GMPriority Pharma Ltd 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.
Plant and machinery etc - 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

Going concern
The financial statements have been prepared on a going concern basis as the shareholders will continue to support the company for the foreseeable future and ensure obligations are being met as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 10 ) .

GMPRIORITY PHARMA LTD (REGISTERED NUMBER: 12323150)

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 685,011
Additions 147,547
At 31 March 2024 832,558
DEPRECIATION
At 1 April 2023 252,008
Charge for year 137,929
At 31 March 2024 389,937
NET BOOK VALUE
At 31 March 2024 442,621
At 31 March 2023 433,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,163 -
Other debtors 29,738 36,385
42,901 36,385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,999 1,999
Taxation and social security 56,760 -
Other creditors 1,284,501 1,284,521
1,343,260 1,286,520

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 1,499 3,498

8. RELATED PARTY DISCLOSURES

At the balance sheet date, other creditors include a loan of £1,270,139 owed to Detoxpeople Ltd, a company under common control of the directors, Mr. and Mrs. Meyer by virtue of their shareholding in both Detoxpeople Ltd and GMPriority Pharma Ltd. This interest free loan was under no formal terms.