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REGISTERED NUMBER: 07827001 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

WCC PHARMA LIMITED

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


WCC PHARMA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: I A Onuchukwu





REGISTERED OFFICE: 21 Storey Street
Hull
E Yorkshire
HU1 3SA





REGISTERED NUMBER: 07827001 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 827,190 827,190
Tangible assets 5 974,793 1,001,227
1,801,983 1,828,417

CURRENT ASSETS
Stocks 174,804 158,913
Debtors 6 664,312 565,844
Cash at bank 97,279 66,674
936,395 791,431
CREDITORS
Amounts falling due within one year 7 775,349 493,599
NET CURRENT ASSETS 161,046 297,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,963,029

2,126,249

CREDITORS
Amounts falling due after more than
one year

8

(802,907

)

(930,305

)

PROVISIONS FOR LIABILITIES (129,959 ) (135,245 )
NET ASSETS 1,030,163 1,060,699

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

BALANCE SHEET - continued
31 MAY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 40 40
Revaluation reserve 10 400,000 400,000
Retained earnings 630,123 660,659
SHAREHOLDERS' FUNDS 1,030,163 1,060,699

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 his 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 25 November 2024 and were signed by:





I A Onuchukwu - Director


WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

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

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Intangible assets
The cost of the company's website has been capitalised and is being amortised over four years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

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

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 29 (2023 - 29 ) .

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 539,440 290,448 829,888
AMORTISATION
At 1 June 2023
and 31 May 2024 - 2,698 2,698
NET BOOK VALUE
At 31 May 2024 539,440 287,750 827,190
At 31 May 2023 539,440 287,750 827,190

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 825,000 405,294 1,230,294
DEPRECIATION
At 1 June 2023 - 229,067 229,067
Charge for year - 26,434 26,434
At 31 May 2024 - 255,501 255,501
NET BOOK VALUE
At 31 May 2024 825,000 149,793 974,793
At 31 May 2023 825,000 176,227 1,001,227

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 500,000 - 500,000
Cost 325,000 405,294 730,294
825,000 405,294 1,230,294

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machiner
etc
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 12,600
DEPRECIATION
At 1 June 2023
and 31 May 2024 12,600
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 146,695 17,599
Directors' current accounts 84,013 103,605
VAT 74,765 105,482
Prepayments and accrued income 358,839 339,158
664,312 565,844

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 211,278 132,082
Tax 82,638 70,990
Social security and other taxes 120,447 39,652
Associated company 178,004 137,875
Other creditors 74,982 -
Accruals and deferred income 8,000 13,000
775,349 493,599

WCC PHARMA LIMITED (REGISTERED NUMBER: 07827001)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 100,000 100,000
Bank loans - 2-5 years 702,907 830,305
802,907 930,305

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 902,907 1,030,305

The bank loan is secured with a fixed and floating charge over the assets of the company.

10. RESERVES
Revaluati
reserve
£   
At 1 June 2023
and 31 May 2024 400,000

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
I A Onuchukwu
Balance outstanding at start of year 103,605 182,016
Amounts advanced 29,978 19,159
Amounts repaid (49,570 ) (97,570 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,013 103,605