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COMPANY REGISTRATION NUMBER: 10581135
Edgepharma Limited
Unaudited Financial Statements
30 June 2024
Edgepharma Limited
Director's Report
Year ended 30 June 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2024 .
Director
The director who served the company during the year was as follows:
Mr G H Melamet
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 March 2025 and signed on behalf of the board by:
Mr G H Melamet
Director
Registered office:
Milner House
14 Manchester Square
London
W1U 3PP
Edgepharma Limited
Statement of Income and Retained Earnings
Year ended 30 June 2024
2024
2023
Note
EUR
EUR
Turnover
4
12,213
15,113
--------
--------
Gross profit
12,213
15,113
Administrative expenses
4,413
32,228
--------
--------
Operating profit/(loss)
5
7,800
( 17,115)
--------
--------
Profit/(loss) before taxation
7,800
( 17,115)
Tax on profit/(loss)
6
1,482
-------
--------
Profit/(loss) for the financial year and total comprehensive income
6,318
( 17,115)
-------
--------
All the activities of the company are from continuing operations.
Edgepharma Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
EUR
EUR
Current assets
Debtors
7
167,045
165,634
Cash at bank and in hand
47,128
44,087
---------
---------
214,173
209,721
Creditors: amounts falling due within one year
8
445,249
447,115
---------
---------
Net current liabilities
231,076
237,394
---------
---------
Total assets less current liabilities
( 231,076)
( 237,394)
---------
---------
Net liabilities
( 231,076)
( 237,394)
---------
---------
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
( 231,078)
( 237,396)
---------
---------
Shareholders deficit
( 231,076)
( 237,394)
---------
---------
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr G H Melamet
Director
Company registration number: 10581135
Edgepharma Limited
Statement of Cash Flows
Year ended 30 June 2024
2024
2023
EUR
EUR
Cash flows from operating activities
Profit/(loss) for the financial year
6,318
( 17,115)
Adjustments for:
Tax on profit/(loss)
1,482
Accrued expenses
256
5,000
Changes in:
Trade and other debtors
( 1,411)
( 68,673)
Trade and other creditors
( 2,122)
( 1,172)
-------
--------
Cash generated from operations
4,523
( 81,960)
Tax paid
( 1,482)
-------
--------
Net cash from/(used in) operating activities
3,041
( 81,960)
-------
--------
Net increase/(decrease) in cash and cash equivalents
3,041
( 81,960)
Cash and cash equivalents at beginning of year
44,087
126,047
--------
---------
Cash and cash equivalents at end of year
47,128
44,087
--------
---------
Edgepharma Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Milner House, 14 Manchester Square, London, W1U 3PP.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit/(loss)
Operating profit or loss is stated after charging/crediting:
2024
2023
EUR
EUR
Foreign exchange differences
( 11,876)
5,601
--------
-------
6. Tax on profit/(loss)
Major components of tax expense
2024
2023
EUR
EUR
Current tax:
UK current tax expense
1,482
-------
----
Tax on profit/(loss)
1,482
-------
----
7. Debtors
2024
2023
EUR
EUR
Trade debtors
96,961
96,961
Other debtors
70,084
68,673
---------
---------
167,045
165,634
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
EUR
EUR
Trade creditors
438,767
440,889
Accruals and deferred income
6,482
6,226
---------
---------
445,249
447,115
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
EUR
No.
EUR
Ordinary shares of EUR 2 each
1
2
1
2
----
----
----
----
10. Analysis of changes in net debt
At 1 Jul 2023
Cash flows
At 30 Jun 2024
EUR
EUR
EUR
Cash at bank and in hand
44,087
3,041
47,128
--------
-------
--------