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REGISTERED NUMBER: NI669930 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

PHARMAPHIX LTD

PHARMAPHIX LTD (REGISTERED NUMBER: NI669930)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PHARMAPHIX LTD

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Ms R McNeill





REGISTERED OFFICE: B10, Clara House
Dunmurry Office Park
37A Upper Dunmurry Lane
Belfast
Co. Antrim
BT17 OAA





REGISTERED NUMBER: NI669930 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

PHARMAPHIX LTD (REGISTERED NUMBER: NI669930)

Balance Sheet
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,095 26,625

CURRENT ASSETS
Debtors 5 9,268 70,921
Cash at bank 252,423 209,528
261,691 280,449
CREDITORS
Amounts falling due within one year 6 50,557 82,149
NET CURRENT ASSETS 211,134 198,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,229

224,925

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 231,209 224,905
231,229 224,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:




Ms R McNeill - Director


PHARMAPHIX LTD (REGISTERED NUMBER: NI669930)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Pharmaphix Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

PHARMAPHIX LTD (REGISTERED NUMBER: NI669930)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 673 41,500 2,201 44,374
Additions 1,809 - 1,123 2,932
At 31 May 2024 2,482 41,500 3,324 47,306
DEPRECIATION
At 1 June 2023 269 16,600 880 17,749
Charge for year 497 8,300 665 9,462
At 31 May 2024 766 24,900 1,545 27,211
NET BOOK VALUE
At 31 May 2024 1,716 16,600 1,779 20,095
At 31 May 2023 404 24,900 1,321 26,625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 9,268 52,118
Directors' current accounts - 3,198
VAT - 15,605
9,268 70,921

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Tax 22,960 47,824
VAT 4,067 -
Other creditors - 31,308
Directors' current accounts 30 -
Accruals and deferred income 23,500 3,017
50,557 82,149