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Registered Number: 07578352
England and Wales

 

 

 

S K PHARMACARE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 645,000   
Tangible fixed assets 4 264,000   
909,000   
Current assets      
Stocks 59,548   
Debtors: amounts falling due within one year 6,161    25,684 
Debtors: amounts falling due after one year 47,450   
Cash at bank and in hand 80,502    322,802 
193,661    348,486 
Creditors: amount falling due within one year (319,990)   (115,826)
Net current assets (126,329)   232,660 
 
Total assets less current liabilities 782,671    232,660 
Creditors: amount falling due after more than one year (222,900)  
Provisions for liabilities (66,000)  
Net assets 493,771    232,660 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 493,770    232,659 
Shareholders' funds 493,771    232,660 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 January 2025 and were signed by:


-------------------------------
Sunil Kumar
Director
1
General Information
S K Pharmacare Limited is a private company, limited by shares, registered in England and Wales, registration number 07578352, registration address 141 Beaconsfield Street, Newcastle Upon Tyne, NE4 5JP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2023 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023  
Additions 645,000    645,000 
Disposals  
At 31 March 2024 645,000    645,000 
Amortisation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
At 31 March 2024 645,000    645,000 
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2023  
Additions 330,000    330,000 
Disposals  
At 31 March 2024 330,000    330,000 
Depreciation
At 01 April 2023  
Charge for year 66,000    66,000 
On disposals  
At 31 March 2024 66,000    66,000 
Net book values
Closing balance as at 31 March 2024 264,000    264,000 
Opening balance as at 01 April 2023  


2