Silverfin false false 30/04/2024 01/05/2023 30/04/2024 F A Cloud 29/04/2009 Dr G Nechvatal 28/05/2013 23 January 2025 The principal activity of the Company during the financial year was pharmaceutical research and consultancy. 06890950 2024-04-30 06890950 bus:Director1 2024-04-30 06890950 bus:Director2 2024-04-30 06890950 2023-04-30 06890950 core:CurrentFinancialInstruments 2024-04-30 06890950 core:CurrentFinancialInstruments 2023-04-30 06890950 core:ShareCapital 2024-04-30 06890950 core:ShareCapital 2023-04-30 06890950 core:RetainedEarningsAccumulatedLosses 2024-04-30 06890950 core:RetainedEarningsAccumulatedLosses 2023-04-30 06890950 core:LandBuildings 2023-04-30 06890950 core:FurnitureFittings 2023-04-30 06890950 core:LandBuildings 2024-04-30 06890950 core:FurnitureFittings 2024-04-30 06890950 2023-05-01 2024-04-30 06890950 bus:FilletedAccounts 2023-05-01 2024-04-30 06890950 bus:SmallEntities 2023-05-01 2024-04-30 06890950 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06890950 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06890950 bus:Director1 2023-05-01 2024-04-30 06890950 bus:Director2 2023-05-01 2024-04-30 06890950 core:FurnitureFittings 2023-05-01 2024-04-30 06890950 2022-05-01 2023-04-30 06890950 core:LandBuildings 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 06890950 (England and Wales)

PHARMACLOUD LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

PHARMACLOUD LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

PHARMACLOUD LIMITED

BALANCE SHEET

As at 30 April 2024
PHARMACLOUD LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 312,652 306,129
Investments 4 767,658 767,658
1,080,310 1,073,787
Current assets
Debtors 5 134,848 156,074
Cash at bank and in hand 1,114,867 769,799
1,249,715 925,873
Creditors: amounts falling due within one year 6 ( 177,989) ( 262,422)
Net current assets 1,071,726 663,451
Total assets less current liabilities 2,152,036 1,737,238
Net assets 2,152,036 1,737,238
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,151,936 1,737,138
Total shareholders' funds 2,152,036 1,737,238

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Pharmacloud Limited (registered number: 06890950) were approved and authorised for issue by the Board of Directors on 23 January 2025. They were signed on its behalf by:

F A Cloud
Director
PHARMACLOUD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
PHARMACLOUD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Fixtures, fittings & equipment - 25% reducing balance

Land and buildings not depreciated
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 May 2023 303,308 11,068 314,376
Additions 7,229 0 7,229
At 30 April 2024 310,537 11,068 321,605
Accumulated depreciation
At 01 May 2023 0 8,247 8,247
Charge for the financial year 0 706 706
At 30 April 2024 0 8,953 8,953
Net book value
At 30 April 2024 310,537 2,115 312,652
At 30 April 2023 303,308 2,821 306,129

4. Fixed asset investments

2024 2023
£ £
Other investments and loans 767,658 767,658

5. Debtors

2024 2023
£ £
Trade debtors 96,327 147,650
Other debtors 38,521 8,424
134,848 156,074

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 12,084 16,874
Corporation tax 130,067 137,853
Other creditors 35,838 107,695
177,989 262,422

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 25,145 26,842

During the year the company made advances to the directors of £9,149 and repayments of £7,452 within the financial year.

The loan from the director to the company is unsecured, interest free and repayable on demand.