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Company Registration No. 14258336 (England and Wales)
Affinity Pharma Ltd Filleted accounts for the year ended 29 February 2024
Affinity Pharma Ltd Filleted accounts Contents
Page
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Affinity Pharma Ltd Company Information for the year ended 29 February 2024
Director
Faraz Aman Lone
Company Number
14258336 (England and Wales)
Registered Office
Park Road Medical Centre Park Road Bradford BD5 0SG United Kingdom
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Affinity Pharma Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
600,000 
- 
Tangible assets
9,055 
- 
609,055 
- 
Current assets
Inventories
23,000 
- 
Debtors
55,025 
1,000 
78,025 
1,000 
Creditors: amounts falling due within one year
(110,221)
- 
Net current (liabilities)/assets
(32,196)
1,000 
Total assets less current liabilities
576,859 
1,000 
Creditors: amounts falling due after more than one year
(611,145)
- 
Net (liabilities)/assets
(34,286)
1,000 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(35,286)
- 
Shareholders' funds
(34,286)
1,000 
For the year ending 29 February 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.
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 12 January 2025 and were signed on its behalf by
Faraz Aman Lone Director Company Registration No. 14258336
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Affinity Pharma Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Affinity Pharma Ltd is a private company, limited by shares, registered in England and Wales, registration number 14258336. The registered office is Park Road Medical Centre, Park Road, Bradford, BD5 0SG, 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.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
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:
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Affinity Pharma Ltd Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
- 
Additions
600,000 
At 29 February 2024
600,000 
Amortisation
At 1 March 2023
- 
At 29 February 2024
- 
Net book value
At 29 February 2024
600,000 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
- 
Additions
13,583 
At 29 February 2024
13,583 
Depreciation
Charge for the year
4,528 
At 29 February 2024
4,528 
Net book value
At 29 February 2024
9,055 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
12,570 
- 
Trade debtors
35,455 
- 
Amounts due from group undertakings etc.
- 
1,000 
48,025 
1,000 
Amounts falling due after more than one year
Accrued income and prepayments
7,000 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
70,574 
- 
Trade creditors
36,580 
- 
Taxes and social security
361 
- 
Other creditors
1,225 
- 
Accruals
1,481 
- 
110,221 
- 
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Affinity Pharma Ltd Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
412,852 
- 
Amounts owed to group undertakings and other participating interests
198,293 
- 
611,145 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
10
Average number of employees
During the year the average number of employees was 2 (2023: 0).
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