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Company No: 04210685 (England and Wales)

ADALLEN PHARMA LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ADALLEN PHARMA LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ADALLEN PHARMA LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
ADALLEN PHARMA LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Alfred David Allen
Richard Oliver Allen
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 04210685 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
ADALLEN PHARMA LIMITED

BALANCE SHEET

As at 30 June 2024
ADALLEN PHARMA LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 5,657 9,391
Investments 5 100 100
5,757 9,491
Current assets
Stocks 6 34,993 38,535
Debtors
- due within one year 7 699,964 261,954
- due after more than one year 7 0 45,166
Cash at bank and in hand 8 1,245,590 1,398,691
1,980,547 1,744,346
Creditors: amounts falling due within one year 9 ( 649,901) ( 483,089)
Net current assets 1,330,646 1,261,257
Total assets less current liabilities 1,336,403 1,270,748
Net assets 1,336,403 1,270,748
Capital and reserves
Called-up share capital 201 201
Profit and loss account 1,336,202 1,270,547
Total shareholders' funds 1,336,403 1,270,748

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of ADAllen Pharma Limited (registered number: 04210685) were approved and authorised for issue by the Board of Directors on 01 October 2024. They were signed on its behalf by:

Richard Oliver Allen
Director
ADALLEN PHARMA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ADALLEN PHARMA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ADAllen Pharma Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 12

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 90,000 90,000
Disposals ( 90,000) ( 90,000)
At 30 June 2024 0 0
Accumulated amortisation
At 01 July 2023 90,000 90,000
Disposals ( 90,000) ( 90,000)
At 30 June 2024 0 0
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 July 2023 73,500 78,652 72,598 224,750
Additions 0 672 427 1,099
0 0 0 0
At 30 June 2024 73,500 79,324 73,025 225,849
Accumulated depreciation
At 01 July 2023 73,500 77,295 64,564 215,359
Charge for the financial year 0 555 4,278 4,833
0 0 0 0
At 30 June 2024 73,500 77,850 68,842 220,192
Net book value
At 30 June 2024 0 1,474 4,183 5,657
At 30 June 2023 0 1,357 8,034 9,391

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 100
At 30 June 2024 100
Carrying value at 30 June 2024 100
Carrying value at 30 June 2023 100

6. Stocks

2024 2023
£ £
Stocks 34,993 38,535

7. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 636,281 138,082
Amounts owed by Group undertakings 45,195 108,300
Other debtors 18,488 15,572
699,964 261,954
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 0 45,166

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,245,590 1,398,691

9. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 229,776 107,497
Taxation and social security 138,518 93,955
Other creditors 281,607 281,637
649,901 483,089

SECURED DEBTS
Lloyds bank commercial finance limited has a fixed and floating charge against all the business assets.