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Registered Number: 12009053
England and Wales

 

 

 

CLYDESDALE PHARMA LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,192,679    1,184,951 
Tangible fixed assets 4 25,926    28,034 
1,218,605    1,212,985 
Current assets      
Stocks 499,221    340,942 
Debtors 547,519    419,522 
Cash at bank and in hand 1,601    (7,730)
1,048,341    752,734 
Creditors: amount falling due within one year (586,806)   (383,136)
Net current assets 461,535    369,598 
 
Total assets less current liabilities 1,680,140    1,582,583 
Creditors: amount falling due after more than one year (763,124)   (668,247)
Provisions for liabilities   (531)
Defined benefit pension scheme asset/liability (1,387)  
Net assets 915,629    913,805 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 5 875,000    875,000 
Profit and loss account 40,529    38,705 
Shareholders' funds 915,629    913,805 
 


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 17 January 2025 and were signed by:


-------------------------------
Dr Soumick Sikdar
Director
1
General Information
CLYDESDALE PHARMA LTD is a private company, limited by shares, registered in England and Wales, registration number 12009053, registration address UNIT 3 - 5 CAMPBELL COURT, BRAMLEY TADLEY, RG26 5EG.

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.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
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
Fixtures and Fittings 5 Straight Line
Computer Equipment 3 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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 5 (2023 : 1).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023 1,184,951    1,184,951 
Additions 7,728    7,728 
Disposals  
At 31 March 2024 1,192,679    1,192,679 
Amortisation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
At 31 March 2024 1,192,679    1,192,679 
At 31 March 2023 1,184,951    1,184,951 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2023 5,550    5,058    34,379    44,987 
Additions     2,498    2,498 
Disposals      
At 31 March 2024 5,550    5,058    36,877    47,485 
Depreciation
At 01 April 2023 1,110    1,341    14,502    16,953 
Charge for year 555    506    3,545    4,606 
On disposals      
At 31 March 2024 1,665    1,847    18,047    21,559 
Net book values
Closing balance as at 31 March 2024 3,885    3,211    18,830    25,926 
Opening balance as at 01 April 2023 4,440    3,717    19,877    28,034 


2