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REGISTERED NUMBER: 01898060 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Hyperdrug Pharmaceuticals Ltd

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hyperdrug Pharmaceuticals Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: B N Watson
G W Watson
J G F Watson
C J Watson





SECRETARY: C J Watson





REGISTERED OFFICE: Station Industrial Estate
Barnard Castle
County Durham
DL12 ONG





REGISTERED NUMBER: 01898060 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 165,456 213,554
Tangible assets 5 127,464 136,224
292,920 349,778

CURRENT ASSETS
Stocks 6 350,427 327,849
Debtors 7 73,940 4,989
Cash at bank 755,296 1,045,893
1,179,663 1,378,731
CREDITORS
Amounts falling due within one year 8 1,176,305 1,351,807
NET CURRENT ASSETS 3,358 26,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,278

376,702

CREDITORS
Amounts falling due after more than one
year

9

(50,404

)

(100,000

)

PROVISIONS FOR LIABILITIES 11 (30,826 ) (42,476 )
NET ASSETS 215,048 234,226

CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve - 26,852
Retained earnings 214,948 207,274
SHAREHOLDERS' FUNDS 215,048 234,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Balance Sheet - continued
30 April 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 15 January 2025 and were signed on its behalf by:




G W Watson - Director



C J Watson - Director


Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Hyperdrug Pharmaceuticals 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principle 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions at market value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Income is recognised when a contract for the performing of services is determined as unconditional.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of fifty years.

Computer software is being amortised evenly over its estimated useful life of four years.

Some items within computer software are held at their most recent valuation and continue to be amortised over their estimated useful life of four years. Any aggregate surplus or deficit arising from changes in fair value is recognised in the revaluation reserve. Annual transfers are made out of the revaluation reserve in respect of additional amortisation charged on the revaluation uplift.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Manufacturing equipment - 6 - 50 years straight line
Fixtures and fittings - 6 - 50 years straight line
Computer & office equipment - 3% on cost

Tangible assets are measured at cost less accumulated depreciation and impairment.

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 30 ) .

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Patents
and Computer
Goodwill licences software Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 200,000 8,055 152,233 360,288
AMORTISATION
At 1 May 2023 41,288 6,515 98,931 146,734
Amortisation for year 10,000 40 38,058 48,098
At 30 April 2024 51,288 6,555 136,989 194,832
NET BOOK VALUE
At 30 April 2024 148,712 1,500 15,244 165,456
At 30 April 2023 158,712 1,540 53,302 213,554

Items included in computer software, with a net book value of £nil (2023:£9,477) are shown at the most recent valuation,last revalued in 2018. Any aggregate surplus or deficit arising from changes in fair value is recognised in the revaluation reserve.

Net book value of these items had they not been revalued and held at historic cost less depreciation would have been £nil (2023:£9,635)

5. TANGIBLE FIXED ASSETS
Fixtures Computer
Land & Manufacturing and & office
buildings equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 20,000 84,793 174,613 100,547 379,953
Additions - 559 222 3,028 3,809
At 30 April 2024 20,000 85,352 174,835 103,575 383,762
DEPRECIATION
At 1 May 2023 - 52,960 107,609 83,160 243,729
Charge for year - 4,333 3,234 5,002 12,569
At 30 April 2024 - 57,293 110,843 88,162 256,298
NET BOOK VALUE
At 30 April 2024 20,000 28,059 63,992 15,413 127,464
At 30 April 2023 20,000 31,833 67,004 17,387 136,224

6. STOCKS
2024 2023
£    £   
Stocks 350,427 327,849

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 67,065 -
Prepayments 6,875 4,989
73,940 4,989

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 979,784 1,203,133
Taxation and social security 171,597 119,830
Other creditors 2,286 2,863
Accruals and deferred income 22,638 25,981
1,176,305 1,351,807

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 50,404 100,000

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,990 13,485
Between one and five years - 8,990
8,990 22,475

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,826 42,476

Deferred
tax
£   
Balance at 1 May 2023 42,476
Accelerated capital allowances (6,237 )
Under provision in the PY (5,413 )
Balance at 30 April 2024 30,826

Hyperdrug Pharmaceuticals Ltd (Registered number: 01898060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £0.01 100 100

13. RELATED PARTY DISCLOSURES


2024 2023
£

Amounts due to directors 50,404 100,000
No interest was charged in 2023. In the current year, interest was charged on the 2023 outstanding balance.