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REGISTERED NUMBER: 08506846 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Empharm (North East) Limited

Empharm (North East) Limited (Registered number: 08506846)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Empharm (North East) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr R M Pitt
Mr M D Roberts
Mrs E L Roberts





REGISTERED OFFICE: 22 Cheapside
Spennymoor
Co. Durham
DL16 6DJ





REGISTERED NUMBER: 08506846 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Empharm (North East) Limited (Registered number: 08506846)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 33,262 62,173
33,262 62,173

CURRENT ASSETS
Stocks 88,019 73,266
Debtors 7 1,749,115 1,487,916
Cash at bank 21,465 120,287
1,858,599 1,681,469
CREDITORS
Amounts falling due within one year 8 (855,398 ) (1,008,235 )
NET CURRENT ASSETS 1,003,201 673,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,463

735,407

CREDITORS
Amounts falling due after more than one
year

9

(236,171

)

(55,902

)

PROVISIONS FOR LIABILITIES (8,316 ) (13,967 )
NET ASSETS 791,976 665,538

CAPITAL AND RESERVES
Called up share capital 103 103
Profit and loss account 791,873 665,435
791,976 665,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





Mr R M Pitt - Director


Empharm (North East) Limited (Registered number: 08506846)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Empharm (North East) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the sale of pharmaceutical goods, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Intangible assets
Intangible fixed assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangible assets less their residual values over their useful economic life, using the straight line method.

The intangible assets are amortised over the following useful economic lives:

Goodwill - 12% Straight Line

In the opinion of the directors this represents the period over which the goodwill is effective.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 15% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.


Empharm (North East) Limited (Registered number: 08506846)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and 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 and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

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

Assets held under finance leases are recognised initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss. Assets held under finance leases are included in tangible fixed assets and depreciated and assessed for impairment losses in the same way as owned assets.

Rentals payable under operating leases are charges to profit or loss on a straight line basis over the term of the lease.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 22 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 431,650
AMORTISATION
At 1 August 2023
and 31 July 2024 431,650
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Empharm (North East) Limited (Registered number: 08506846)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 198,255
Additions 802
Disposals (49,940 )
At 31 July 2024 149,117
DEPRECIATION
At 1 August 2023 136,082
Charge for year 19,309
Eliminated on disposal (39,536 )
At 31 July 2024 115,855
NET BOOK VALUE
At 31 July 2024 33,262
At 31 July 2023 62,173

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 201,339 201,628
Amounts owed by group undertakings 1,367,905 1,129,025
Other debtors 179,871 157,263
1,749,115 1,487,916

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,514 10,756
Finance leases (see note 10) 3,895 11,610
Trade creditors 373,915 373,438
Taxation and social security 54,821 77,409
Other creditors 417,253 535,022
855,398 1,008,235

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,111 32,622
Finance leases (see note 10) - 23,280
Other creditors 209,060 -
236,171 55,902

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,055 10,566
Other loans more 5yrs instal 11,453 -
16,508 10,566

Empharm (North East) Limited (Registered number: 08506846)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 3,895 11,610
Between one and five years - 23,280
3,895 34,890

Non-cancellable operating leases
2024 2023
£    £   
Within one year 25,000 25,000
Between one and five years 75,000 100,000
100,000 125,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 3,895 34,890

The finance leases are secured against the items of plant and machinery to which they relate and have a carrying amount of £3,571 (2023: £27,234).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr M D Roberts
Balance outstanding at start of year 43,615 23,060
Amounts advanced 11,330 20,555
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,945 43,615

Mr R M Pitt
Balance outstanding at start of year 35,515 14,374
Amounts advanced 11,127 21,141
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,642 35,515

The above advances are made at an interest rate of 2.5% and are repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate parent company is RPMR Healthcare Limited, a company registered in England and Wales.

The directors consider Mr R Pitt, Mr M Roberts and Mrs E Roberts to be the ultimate controlling party by virtue of their interest in the share capital of the parent company.