Company registration number 12045076 (England and Wales)
OUR HEALTH PHARMA LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
OUR HEALTH PHARMA LIMITED
COMPANY INFORMATION
Directors
Mr EA M Dubaissi
Dr E Evans
Dr R J Mortimer
Dr SB Evans
Company number
12045076
Registered office
71 Aneurin Way
Sketty
Swansea
West Glamorgan
SA2 8NP
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
OUR HEALTH PHARMA LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 8
OUR HEALTH PHARMA LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 July 2024.

Principal activities

The principal activity of the company continued to be that of a pharmacy.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr EA M Dubaissi
Dr E Evans
Dr R J Mortimer
Dr SB Evans
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr EA M Dubaissi
Director
30 March 2025
OUR HEALTH PHARMA LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OUR HEALTH PHARMA LIMITED FOR THE YEAR ENDED 31 JULY 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Our Health Pharma Limited for the year ended 31 July 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Our Health Pharma Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Our Health Pharma Limited and state those matters that we have agreed to state to the board of directors of Our Health Pharma Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Our Health Pharma Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Our Health Pharma Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Our Health Pharma Limited. You consider that Our Health Pharma Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Our Health Pharma Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited
30 March 2025
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
OUR HEALTH PHARMA LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
555,000
625,000
Tangible assets
4
281,742
76,148
836,742
701,148
Current assets
Stocks
122,517
108,995
Debtors
5
457,739
300,674
Cash at bank and in hand
153,450
58,730
733,706
468,399
Creditors: amounts falling due within one year
6
(999,956)
(691,750)
Net current liabilities
(266,250)
(223,351)
Total assets less current liabilities
570,492
477,797
Creditors: amounts falling due after more than one year
7
(649,339)
(490,456)
Provisions for liabilities
(52,479)
(13,416)
Net liabilities
(131,326)
(26,075)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(131,526)
(26,275)
Total equity
(131,326)
(26,075)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

OUR HEALTH PHARMA LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 30 March 2025 and are signed on its behalf by:
Mr EA M Dubaissi
Director
Company registration number 12045076 (England and Wales)
OUR HEALTH PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
1
Accounting policies
Company information

Our Health Pharma Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Aneurin Way, Sketty, Swansea, West Glamorgan, SA2 8NP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

 

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment
20% straight line
Fixtures and fittings
20% straight line
Motor vehicles
20% straight line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

OUR HEALTH PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

OUR HEALTH PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
23
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
700,000
Amortisation and impairment
At 1 August 2023
75,000
Amortisation charged for the year
70,000
At 31 July 2024
145,000
Carrying amount
At 31 July 2024
555,000
At 31 July 2023
625,000
4
Tangible fixed assets
Equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
50,534
-
0
46,711
97,245
Additions
44,838
208,429
-
0
253,267
At 31 July 2024
95,372
208,429
46,711
350,512
Depreciation and impairment
At 1 August 2023
16,393
-
0
4,704
21,097
Depreciation charged in the year
13,953
24,378
9,342
47,673
At 31 July 2024
30,346
24,378
14,046
68,770
Carrying amount
At 31 July 2024
65,026
184,051
32,665
281,742
At 31 July 2023
34,141
-
0
42,007
76,148
OUR HEALTH PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
346,476
187,482
Other debtors
105,194
88,958
Prepayments and accrued income
6,069
24,234
457,739
300,674
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
54,652
42,702
Obligations under finance leases
16,468
10,315
Trade creditors
274,189
157,401
Taxation and social security
9,485
3,434
Other creditors
645,162
477,898
999,956
691,750
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
601,179
453,982
Other creditors
48,160
36,474
649,339
490,456
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