REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Hyperdrug Pharmaceuticals Ltd |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 |
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. |
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 |
Manufacturing equipment | - |
Fixtures and fittings | - |
Computer & office equipment | - |
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 |
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 |
AMORTISATION |
At 1 May 2023 |
Amortisation for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
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 |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Accruals and deferred income |
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 |
Between one and five years |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 30,826 | 42,476 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Accelerated capital allowances | (6,237 | ) |
Under provision in the PY | (5,413 | ) |
Balance at 30 April 2024 |
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: | £ | £ |
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. |