2023-04-282024-07-312024-07-31false14834221BETAPHARMA 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BETAPHARMA LTD

Registered Number
14834221
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2024

BETAPHARMA LTD
Company Information
for the period from 28 April 2023 to 31 July 2024

Directors

Akbarian Tefaghi, Niloufar
Salehi, Parham

Registered Address

186 South Ealing Road
London
W5 4RJ

Registered Number

14834221 (England and Wales)
BETAPHARMA LTD
Balance Sheet as at
31 July 2024

Notes

2024

£

£

Fixed assets
Intangible assets3391,682
Tangible assets411,198
402,880
Current assets
Stocks518,350
Debtors692,256
Cash at bank and on hand30,157
140,763
Creditors amounts falling due within one year7(238,317)
Net current assets (liabilities)(97,554)
Total assets less current liabilities305,326
Creditors amounts falling due after one year8(325,981)
Net assets(20,655)
Capital and reserves
Called up share capital100
Profit and loss account(20,755)
Shareholders' funds(20,655)
The financial statements were approved and authorised for issue by the Board of Directors on 28 January 2025, and are signed on its behalf by:
Salehi, Parham
Director
Registered Company No. 14834221
BETAPHARMA LTD
Notes to the Financial Statements
for the period ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year4
3.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions409,144409,144
At 31 July 24409,144409,144
Amortisation and impairment
Charge for year17,46217,462
At 31 July 2417,46217,462
Net book value
At 31 July 24391,682391,682
At 27 April 23--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions12,50012,500
At 31 July 2412,50012,500
Depreciation and impairment
Charge for year1,3021,302
At 31 July 241,3021,302
Net book value
At 31 July 2411,19811,198
At 27 April 23--
5.Stocks

2024

£
Finished goods18,350
Total18,350
6.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables78,898
Other debtors11,169
Prepayments and accrued income2,189
Total92,256
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables89,499
Bank borrowings and overdrafts56,695
Amounts owed to related parties49,250
Taxation and social security877
Other creditors41,996
Total238,317
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts325,981
Total325,981
9.Related party transactions
At the yearend, the company owed £49,250 (2023: NIL) to Pharmamedical Ltd. The companies are related as Mr. Parham Salehi is also the director of this company.