Acorah Software Products - Accounts Production 16.2.850 false true 30 June 2023 1 July 2022 true No description of principal activity 1 July 2023 30 June 2024 30 June 2024 08868139 Mr Kamlesh Patel Mr Nishant Patel Mr Ravi Patel Mr Swapnil Shah Mr Shashin Shah Mrs Anar Shah iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08868139 2023-06-30 08868139 2024-06-30 08868139 2023-07-01 2024-06-30 08868139 frs-core:CurrentFinancialInstruments 2024-06-30 08868139 frs-core:Non-currentFinancialInstruments 2024-06-30 08868139 frs-core:FurnitureFittings 2024-06-30 08868139 frs-core:FurnitureFittings 2023-07-01 2024-06-30 08868139 frs-core:FurnitureFittings 2023-06-30 08868139 frs-core:PlantMachinery 2024-06-30 08868139 frs-core:PlantMachinery 2023-07-01 2024-06-30 08868139 frs-core:PlantMachinery 2023-06-30 08868139 frs-core:ShareCapital 2024-06-30 08868139 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 08868139 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08868139 frs-bus:FullAccounts 2023-07-01 2024-06-30 08868139 frs-bus:SmallEntities 2023-07-01 2024-06-30 08868139 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08868139 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08868139 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-07-01 2024-06-30 08868139 frs-bus:Director1 2023-07-01 2024-06-30 08868139 frs-bus:Director2 2023-07-01 2024-06-30 08868139 frs-bus:Director3 2023-07-01 2024-06-30 08868139 frs-bus:Director4 2023-07-01 2024-06-30 08868139 frs-bus:Director5 2023-07-01 2024-06-30 08868139 frs-bus:Director6 2023-07-01 2024-06-30 08868139 frs-bus:Director6 2024-06-30 08868139 frs-countries:EnglandWales 2023-07-01 2024-06-30 08868139 2022-06-30 08868139 2023-06-30 08868139 2022-07-01 2023-06-30 08868139 frs-core:CurrentFinancialInstruments 2023-06-30 08868139 frs-core:Non-currentFinancialInstruments 2023-06-30 08868139 frs-core:ShareCapital 2023-06-30 08868139 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 08868139
Espee Pharma (UK) Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mr Kamlesh Patel
Mr Nishant Patel
Mr Ravi Patel
Mr Swapnil Shah
Mr Shashin Shah
Mrs Anar Shah
Company Number 08868139
Registered Office Unit 1 Conqueror Court
Spilsby Road Harold Hill
Romford
Essex
RM3 8SB
Accountants Your Everyday Accounts Ltd
63/66 Hatton Garden
Fifth Floor, Suite 23
London
EC1N 8LE
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 June 2024.
Directors
The directors who held office during the year were as follows:
Mr Kamlesh Patel
Mr Nishant Patel
Mr Ravi Patel
Mr Swapnil Shah
Mr Shashin Shah
Mrs Anar Shah Appointed 28/06/2024
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Kamlesh Patel
Director
19/03/2025
Page 2
Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 4,376,643 2,072,542
Cost of sales (3,771,331 ) (1,804,016 )
GROSS PROFIT 605,312 268,526
Administrative expenses (520,225 ) (240,941 )
OPERATING PROFIT 85,087 27,585
Other interest receivable and similar income 813 -
Interest payable and similar charges (23,606 ) -
PROFIT BEFORE TAXATION 62,294 27,585
Tax on Profit (12,758 ) (5,275 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 49,536 22,310
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 538 538
538 538
CURRENT ASSETS
Stocks 5 143,734 119,365
Debtors 6 268,022 122,851
Cash at bank and in hand 583,743 222,355
995,499 464,571
Creditors: Amounts Falling Due Within One Year 7 (696,177 ) (135,905 )
NET CURRENT ASSETS (LIABILITIES) 299,322 328,666
TOTAL ASSETS LESS CURRENT LIABILITIES 299,860 329,204
Creditors: Amounts Falling Due After More Than One Year 8 - (78,880 )
NET ASSETS 299,860 250,324
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 299,760 250,224
SHAREHOLDERS' FUNDS 299,860 250,324
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Kamlesh Patel
Director
19/03/2025
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Espee Pharma (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08868139 . The registered office is Unit 1 Conqueror Court, Spilsby Road Harold Hill, Romford, Essex, RM3 8SB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Basis
Fixtures & Fittings 25% Reducing Balance Basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
Page 5
Page 6
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 2,651 657 3,308
As at 30 June 2024 2,651 657 3,308
Depreciation
As at 1 July 2023 2,179 591 2,770
As at 30 June 2024 2,179 591 2,770
Net Book Value
As at 30 June 2024 472 66 538
As at 1 July 2023 472 66 538
5. Stocks
2024 2023
£ £
Finished goods 143,734 119,365
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 211,448 74,042
VAT 24,691 -
Other taxes and social security - 4,156
Directors' loan accounts 31,883 44,653
268,022 122,851
Page 6
Page 7
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 132,967 (45,627 )
Corporation tax 12,626 15,559
Other taxes and social security 5,818 -
VAT - 20,023
Net wages 895 -
Other creditors 472,251 139,950
Accruals and deferred income 71,620 6,000
696,177 135,905
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 78,880
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 7