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CH COPY
Company registration number: 02387405
SERVIPHARM LIMITED
Unaudited filleted financial statements
31 March 2024
SERVIPHARM LIMITED
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SERVIPHARM LIMITED
Directors and other information
Directors Mrs Sarita Shah
Mrs Sita Bhundia
Company number 02387405
Registered office 39a Joel Street
Northwood Hills
Middlesex
HA6 1NZ
Business address 5 Sandridge Close
Harrow
Middlesex
HA1 1XD
Accountants Hansons
39a Joel Street
Northwood Hills
Middlesex
HA6 1NZ
SERVIPHARM LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 1 1
Investments 5 753,750 753,750
_________ _________
753,751 753,751
Current assets
Debtors 6 7,559,836 8,462,575
Cash at bank and in hand 5,290 685
_________ _________
7,565,126 8,463,260
Creditors: amounts falling due
within one year 7 ( 335,979) ( 1,398,734)
_________ _________
Net current assets 7,229,147 7,064,526
_________ _________
Net assets 7,982,898 7,818,277
_________ _________
Capital and reserves
Called up share capital 2 2
Profit and loss account 7,982,896 7,818,275
_________ _________
Shareholders funds 7,982,898 7,818,277
_________ _________
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 February 2025 , and are signed on behalf of the board by:
Mrs Sita Bhundia
Director
Company registration number: 02387405
SERVIPHARM LIMITED
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 2 7,599,231 7,599,233
Profit for the year 219,044 219,044
________ ________ ________
Total comprehensive income for the year - 219,044 219,044
________ ________ ________
At 31 March 2023 and 1 April 2023 2 7,818,277 7,818,279
Profit for the year 164,619 164,619
________ ________ ________
Total comprehensive income for the year - 164,619 164,619
________ ________ ________
At 31 March 2024 2 7,982,896 7,982,898
________ ________ ________
SERVIPHARM LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hansons, 39a Joel Street, Northwood Hills, Middlesex, HA6 1NZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2023 and 31 March 2024 10,000 10,000
________ ________
Amortisation
At 1 April 2023 and 31 March 2024 9,999 9,999
________ ________
Carrying amount
At 31 March 2024 1 1
________ ________
At 31 March 2023 1 1
________ ________
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2023 and 31 March 2024 753,750 753,750
________ ________
Impairment
At 1 April 2023 and 31 March 2024 - -
________ ________
Carrying amount
At 31 March 2024 753,750 753,750
________ ________
At 31 March 2023 753,750 753,750
________ ________
6. Debtors 2024 2023
£ £
Trade debtors - 511,767
Other debtors 6,129,363 4,863,938
_________ _________
6,129,363 5,375,705
_________ _________
The debtors above include the following amounts falling due after more than one year:
2024 2023
£ £
Other debtors 4,150,000 4,331,000
_________ _________
7. Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 77,908 1,143,196
Corporation tax 54,251 51,381
Social security and other taxes - 337
Other creditors 203,820 203,820
________ ________
335,979 1,398,734
________ ________
8. Controlling party
The controlling part is considered to be Mrs Sarita Shah .