Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-312023-05-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09603595 2023-05-01 2024-10-31 09603595 2022-05-01 2023-04-30 09603595 2024-10-31 09603595 2023-04-30 09603595 c:Director1 2023-05-01 2024-10-31 09603595 d:MotorVehicles 2023-05-01 2024-10-31 09603595 d:MotorVehicles 2024-10-31 09603595 d:MotorVehicles 2023-04-30 09603595 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-10-31 09603595 d:FurnitureFittings 2023-05-01 2024-10-31 09603595 d:FurnitureFittings 2024-10-31 09603595 d:FurnitureFittings 2023-04-30 09603595 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-10-31 09603595 d:OwnedOrFreeholdAssets 2023-05-01 2024-10-31 09603595 d:Goodwill 2024-10-31 09603595 d:Goodwill 2023-04-30 09603595 d:CurrentFinancialInstruments 2024-10-31 09603595 d:CurrentFinancialInstruments 2023-04-30 09603595 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 09603595 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09603595 d:ShareCapital 2024-10-31 09603595 d:ShareCapital 2023-04-30 09603595 d:RetainedEarningsAccumulatedLosses 2024-10-31 09603595 d:RetainedEarningsAccumulatedLosses 2023-04-30 09603595 c:FRS102 2023-05-01 2024-10-31 09603595 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-10-31 09603595 c:FullAccounts 2023-05-01 2024-10-31 09603595 c:PrivateLimitedCompanyLtd 2023-05-01 2024-10-31 09603595 2 2023-05-01 2024-10-31 09603595 e:PoundSterling 2023-05-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 09603595









OM PHARMA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2024

 
OM PHARMA LTD
REGISTERED NUMBER: 09603595

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

31 October
30 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
5,679
8,206

  
5,679
8,206

Current assets
  

Stocks
  
29,249
30,000

Debtors: amounts falling due within one year
 6 
78,277
47,762

Cash at bank and in hand
  
273,432
292,291

  
380,958
370,053

Creditors: amounts falling due within one year
 7 
(67,005)
(82,904)

Net current assets
  
 
 
313,953
 
 
287,149

Total assets less current liabilities
  
319,632
295,355

  

Net assets
  
319,632
295,355


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
319,532
295,255

  
319,632
295,355


Page 1

 
OM PHARMA LTD
REGISTERED NUMBER: 09603595
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 March 2025.




Mr D N Shanbhag
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

OM Pharma Ltd is a private company, limited by share capital, incorporated in England and Wales under registration number 09603595. The address of the registered office of the company is The Flat Above Roberts Pharmacy, The Coombes, Polperro, Looe, Cornwall, England, PL13 2RG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

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.

Page 5

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


      31 October
        30 April
        2024
        2023
            No.
            No.







No of employees
2
2


4.


Intangible assets






Goodwill

£



Cost


At 1 May 2023
206,342



At 31 October 2024

206,342



Amortisation


At 1 May 2023
206,342



At 31 October 2024

206,342



Net book value



At 31 October 2024
-



At 30 April 2023
-



Page 6

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

5.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 May 2023
13,241
28,003
41,244



At 31 October 2024

13,241
28,003
41,244



Depreciation


At 1 May 2023
5,916
27,122
33,038


Charge for the period on owned assets
2,197
330
2,527



At 31 October 2024

8,113
27,452
35,565



Net book value



At 31 October 2024
5,128
551
5,679



At 30 April 2023
7,325
881
8,206


6.


Debtors

31 October
30 April
2024
2023
£
£


Trade debtors
47,259
37,183

VAT repayable
12,759
9,859

Prepayments
1,072
720

Director loan account
12,850
-

Corporation tax repayable
4,337
-

78,277
47,762


Page 7

 
OM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

7.


Creditors: Amounts falling due within one year

31 October
30 April
2024
2023
£
£

Trade creditors
25,228
37,137

Corporation tax
38,777
39,507

Directors loan account
-
140

Accruals and deferred income
3,000
6,120

67,005
82,904



8.


Controlling party

The company is under the control of the directors, Mr D N Shanbhag (60% share) and his spouse, Mrs R D Shanbhag (40% share), by virtue of fact that between them, they own 100% of the issued share capital of the company. 

 
Page 8