Company Registration No. 03707980 (England and Wales)
LOCTECH PHARMACIA LIMITED
Unaudited accounts
for the year ended 29 February 2024
LOCTECH PHARMACIA LIMITED
Unaudited accounts
Contents
LOCTECH PHARMACIA LIMITED
Company Information
for the year ended 29 February 2024
Company Number
03707980 (England and Wales)
Registered Office
WELLFIELD HOUSE
33 NEW HEY ROAD
HUDDERSFIELD
WEST YORKSHIRE
HD3 4AL
LOCTECH PHARMACIA LIMITED
Statement of financial position
as at 29 February 2024
Tangible assets
48,401
40,402
Investment property
756,478
725,478
Cash at bank and in hand
1,379,985
1,038,916
Creditors: amounts falling due within one year
(295,365)
(263,645)
Net current assets
1,921,997
1,673,004
Net assets
2,726,876
2,469,884
Called up share capital
2
2
Profit and loss account
2,726,874
2,469,882
Shareholders' funds
2,726,876
2,469,884
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2025 and were signed on its behalf by
Mohammed Ashraf
Director
Company Registration No. 03707980
LOCTECH PHARMACIA LIMITED
Notes to the Accounts
for the year ended 29 February 2024
LOCTECH PHARMACIA LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03707980. The registered office is WELLFIELD HOUSE, 33 NEW HEY ROAD, HUDDERSFIELD, WEST YORKSHIRE, HD3 4AL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% written down value
Motor vehicles
20% written down value
Government grants in relation to the local authority covid grant has been credited to the profit and loss account in the period to which it relates to.
The accounts have been prepared on a going concern basis.The directors are not aware of any material uncertainties related to events or conditions that cast significant doubt upon the entities ability to continue as a going concern
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
LOCTECH PHARMACIA LIMITED
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Total
At 29 February 2024
102,630
At 29 February 2024
54,229
At 29 February 2024
48,401
At 28 February 2023
40,402
5
Capital commitments
2024
2023
The company has rental commitments at £8400 per year for the next five years.
6
Transactions with related parties
The company rents premises personally owned by one of the directors( who owns 50% of shares in the company) at a rent of £8400 per annum.
7
Average number of employees
During the year the average number of employees was 11 (2023: 11).