IRIS Accounts Production v24.3.2.46 04740991 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047409912023-05-31047409912024-05-31047409912023-06-012024-05-31047409912022-05-31047409912022-06-012023-05-31047409912023-05-3104740991ns15:EnglandWales2023-06-012024-05-3104740991ns14:PoundSterling2023-06-012024-05-3104740991ns10:Director12023-06-012024-05-3104740991ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3104740991ns10:SmallEntities2023-06-012024-05-3104740991ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3104740991ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3104740991ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3104740991ns10:FullAccounts2023-06-012024-05-3104740991ns10:Director22023-06-012024-05-3104740991ns10:CompanySecretary12023-06-012024-05-3104740991ns10:RegisteredOffice2023-06-012024-05-3104740991ns5:CurrentFinancialInstruments2024-05-3104740991ns5:CurrentFinancialInstruments2023-05-3104740991ns5:ShareCapital2024-05-3104740991ns5:ShareCapital2023-05-3104740991ns5:RevaluationReserve2024-05-3104740991ns5:RevaluationReserve2023-05-3104740991ns5:FurtherSpecificReserve3ComponentTotalEquity2024-05-3104740991ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-3104740991ns5:RetainedEarningsAccumulatedLosses2024-05-3104740991ns5:RetainedEarningsAccumulatedLosses2023-05-3104740991ns5:PlantMachinery2023-06-012024-05-3104740991ns5:PlantMachinery2023-05-3104740991ns5:PlantMachinery2024-05-3104740991ns5:PlantMachinery2023-05-3104740991ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3104740991ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3104740991ns5:RetainedEarningsAccumulatedLosses2023-05-3104740991ns5:RevaluationReserve2023-05-3104740991ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-3104740991ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: 04740991 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

DARU PHARMA LTD

DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DARU PHARMA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M Sepassi
Dr S Sepassi





SECRETARY: Dr S Sepassi





REGISTERED OFFICE: 186 South Ealing Road
London
W5 4RJ





REGISTERED NUMBER: 04740991 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 166 248
Investment property 5 580,000 770,000
580,166 770,248

CURRENT ASSETS
Debtors 6 231 738
Cash at bank 11,198 8,817
11,429 9,555
CREDITORS
Amounts falling due within one year 7 35,551 38,968
NET CURRENT LIABILITIES (24,122 ) (29,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

556,044

740,835

PROVISIONS FOR LIABILITIES - 13,288
NET ASSETS 556,044 727,547

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 8 220,284 220,284
Non-distributable FV reserve 8 (70,063 ) 106,649
Profit and loss account 8 405,623 400,414
556,044 727,547

DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

BALANCE SHEET - continued
31 MAY 2024


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 directors acknowledge their 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





Dr S Sepassi - Director


DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Daru Pharma Ltd is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the total invoice value, excluding value added tax, of pharmaceutical consulting services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 18,047
DEPRECIATION
At 1 June 2023 17,799
Charge for year 82
At 31 May 2024 17,881
NET BOOK VALUE
At 31 May 2024 166
At 31 May 2023 248

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 770,000
Revaluations (190,000 )
At 31 May 2024 580,000
NET BOOK VALUE
At 31 May 2024 580,000
At 31 May 2023 770,000

DARU PHARMA LTD (REGISTERED NUMBER: 04740991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2019 650,063
Valuation in 2020 44,937
Valuation in 2021 40,000
Valuation in 2022 35,000
Valuation in 2023 (190,000 )
580,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 231 738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,549 32,837
Taxation and social security 1,524 1,878
Other creditors 4,478 4,253
35,551 38,968

8. RESERVES
Profit Non-distributable
and loss Revaluation FV
account reserve reserve Totals
£    £    £    £   

At 1 June 2023 400,414 220,284 106,649 727,347
Deficit for the year (170,503 ) (170,503 )
Dividends (1,000 ) (1,000 )
Fair Value Transfer 176,712 - (176,712 ) -
At 31 May 2024 405,623 220,284 (70,063 ) 555,844

9. RELATED PARTY DISCLOSURES

Other creditors includes an interest free loan made to the company by the director. At the balance sheet date the balance on the loan account was £679 (2023: £455).There is no stipulation as to repayment of the loan.