Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11350920 Mr T Amin Mrs S A Raja iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11350920 2023-05-31 11350920 2024-05-31 11350920 2023-06-01 2024-05-31 11350920 frs-core:CurrentFinancialInstruments 2024-05-31 11350920 frs-core:ComputerEquipment 2024-05-31 11350920 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11350920 frs-core:ComputerEquipment 2023-05-31 11350920 frs-core:FurnitureFittings 2024-05-31 11350920 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11350920 frs-core:FurnitureFittings 2023-05-31 11350920 frs-core:ShareCapital 2024-05-31 11350920 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11350920 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11350920 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11350920 frs-bus:SmallEntities 2023-06-01 2024-05-31 11350920 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11350920 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11350920 frs-core:ListedExchangeTraded 2024-05-31 11350920 frs-core:ListedExchangeTraded 2023-05-31 11350920 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 11350920 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-05-31 11350920 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 11350920 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 11350920 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 11350920 frs-bus:Director1 2023-06-01 2024-05-31 11350920 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 11350920 frs-countries:EnglandWales 2023-06-01 2024-05-31 11350920 2022-05-31 11350920 2023-05-31 11350920 2022-06-01 2023-05-31 11350920 frs-core:CurrentFinancialInstruments 2023-05-31 11350920 frs-core:ShareCapital 2023-05-31 11350920 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11350920
Pharmsolutions Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11350920
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,214 3,649
Investments 5 100,264 100,264
102,478 103,913
CURRENT ASSETS
Debtors 6 40,688 14,696
Cash at bank and in hand 6,443 6,902
47,131 21,598
Creditors: Amounts Falling Due Within One Year 7 (41,743 ) (72,252 )
NET CURRENT ASSETS (LIABILITIES) 5,388 (50,654 )
TOTAL ASSETS LESS CURRENT LIABILITIES 107,866 53,259
NET ASSETS 107,866 53,259
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 107,766 53,159
SHAREHOLDERS' FUNDS 107,866 53,259
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T Amin
Director
26/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Pharmsolutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11350920 . The registered office is 19-21 Manor Road, Caddington, Bedfordshire, LU1 4EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
2.5. 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.
2.6. Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.7. Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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2.8. Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 1,620 3,817 5,437
As at 31 May 2024 1,620 3,817 5,437
Depreciation
As at 1 June 2023 270 1,518 1,788
Provided during the period 405 1,030 1,435
As at 31 May 2024 675 2,548 3,223
Net Book Value
As at 31 May 2024 945 1,269 2,214
As at 1 June 2023 1,350 2,299 3,649
5. Investments
Listed
£
Cost
As at 1 June 2023 100,264
Additions -
As at 31 May 2024 100,264
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 100,264
As at 1 June 2023 100,264
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 11,996 13,787
Other debtors 2,691 909
Amounts owed by associates 26,001 -
40,688 14,696
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 16,312 11,685
Director's loan account 25,431 60,567
41,743 72,252
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
The Director, Mr. T. Amin, is also a Director and shareholder of WebRx Pharma Ltd. During the year, Pharmsolutions Ltd invoiced WebRx Pharma Ltd for services totalling £66,367 (2023: £86,079).
The Director, Mr. T. Amin, is also a Director and shareholder of Prime Generics Ltd. As at the year end, Pharmsolutions Ltd were owed amounts totalling £909 (2023: £909) by Prime Generics Ltd.
The Director, Mr. T. Amin, is also a Director and shareholder of APC Labs Ltd. As at the year end, Pharmsolutions Ltd were owed amounts totalling £3,646 (2023: £Nil) by APC Labs Ltd.
The Director, Mr. T. Amin, is also a Director and shareholder of PharmHT Ltd. As at the year end, Pharmsolutions Ltd were owed amounts totalling £22,355 (2023: £Nil) by PharmHT Ltd.
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