Bray Pharma Limited 11382516 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of the wholesale of pharmaceutical goods Digita Accounts Production Advanced 6.30.9574.0 true 11382516 2023-06-01 2024-05-31 11382516 2024-05-31 11382516 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-05-31 11382516 core:CurrentFinancialInstruments 2024-05-31 11382516 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 11382516 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 11382516 core:OfficeEquipment 2024-05-31 11382516 bus:SmallEntities 2023-06-01 2024-05-31 11382516 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11382516 bus:FullAccounts 2023-06-01 2024-05-31 11382516 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11382516 bus:RegisteredOffice 2023-06-01 2024-05-31 11382516 bus:Director1 2023-06-01 2024-05-31 11382516 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-01 2024-05-31 11382516 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11382516 core:OfficeEquipment 2023-06-01 2024-05-31 11382516 countries:England 2023-06-01 2024-05-31 11382516 2023-05-31 11382516 core:OfficeEquipment 2023-05-31 11382516 2022-06-01 2023-05-31 11382516 2023-05-31 11382516 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-05-31 11382516 core:CurrentFinancialInstruments 2023-05-31 11382516 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11382516 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 11382516 core:OfficeEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11382516

Bray Pharma Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Bray Pharma Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Bray Pharma Limited

(Registration number: 11382516)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,287

2,010

Current assets

 

Debtors

5

113,194

77,139

Cash at bank and in hand

 

21,333

1,257

 

134,527

78,396

Creditors: Amounts falling due within one year

6

(82,096)

(68,507)

Net current assets

 

52,431

9,889

Total assets less current liabilities

 

53,718

11,899

Creditors: Amounts falling due after more than one year

6

(6,416)

(10,676)

Provisions for liabilities

(245)

(382)

Net assets

 

47,057

841

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

46,957

741

Shareholders' funds

 

47,057

841

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................
Dr J A Sharples
Director

 

Bray Pharma Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

These financial statements were authorised for issue by the Board on 5 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Bray Pharma Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

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 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Bray Pharma Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

3,604

3,604

At 31 May 2024

3,604

3,604

Depreciation

At 1 June 2023

1,594

1,594

Charge for the year

723

723

At 31 May 2024

2,317

2,317

Carrying amount

At 31 May 2024

1,287

1,287

At 31 May 2023

2,010

2,010

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

97,911

-

Other debtors

 

15,283

77,139

 

113,194

77,139

 

Bray Pharma Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

4,000

4,000

Trade creditors

 

2,648

-

Taxation and social security

 

13,500

4,486

Accruals and deferred income

 

2,800

1,250

Other creditors

 

59,148

58,771

 

82,096

68,507

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6,416

10,676

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100