REGISTERED NUMBER: |
PHARMEX HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
22 JUNE 2023 TO 30 JUNE 2024 |
REGISTERED NUMBER: |
PHARMEX HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
22 JUNE 2023 TO 30 JUNE 2024 |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PHARMEX HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
BALANCE SHEET |
30 JUNE 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Pharmex Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Group accounts |
In preparing these financial statements advantage has been taken of the exemptions conferred by section 399 of the Companies Act 2006 not to prepare consolidated group accounts, on the grounds that the group is entitled to the benefit of those exemptions as a small size group. These financial statements therefore present information about the company as an individual undertaking and not about its group. |
Going concern |
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support. |
At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The director continues to adopt the going concern basis of accounting in preparing the financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investments in subsidiary undertakings are recognised at costs and reviewed periodically for any indication of impairment. |
Dividends or other distributions received from the associated company are recognised in the income statement during the period which it relates too. |
Taxation |
Taxation for the period 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 period 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. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount cab be reliable estimated. |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Financial instruments |
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments". |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
PHARMEX HOLDINGS LIMITED (REGISTERED NUMBER: 14953331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 22 JUNE 2023 TO 30 JUNE 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
8. | SECURED DEBTS |
The company's bankers hold a fixed and floating charge including a negative pledge over all company properties and related undertakings. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 4 |