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REGISTERED NUMBER: 07259684 (England and Wales)








































Pharma Plus Medical Ltd

Unaudited Financial Statements

for the period

1st June 2023 to 30th May 2024






Pharma Plus Medical Ltd (Registered number: 07259684)






Contents of the Financial Statements
for the period 1st June 2023 to 30th May 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Pharma Plus Medical Ltd

Company Information
for the period 1st June 2023 to 30th May 2024







Directors: S N H Shah
Mrs S P Shah





Secretary: S N H Shah





Registered office: 4 Abbey Meadows
Morpeth
Northumberland
NE61 2BD





Registered number: 07259684 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Pharma Plus Medical Ltd (Registered number: 07259684)

Balance Sheet
30th May 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 5,950 4,253

Current assets
Stocks 40,000 40,000
Debtors 5 480,643 138,080
Cash at bank 79,687 69,101
600,330 247,181
Creditors
Amounts falling due within one year 6 396,176 169,912
Net current assets 204,154 77,269
Total assets less current liabilities 210,104 81,522

Creditors
Amounts falling due after more than one
year

7

68,345

-
Net assets 141,759 81,522

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 140,759 80,522
141,759 81,522

Pharma Plus Medical Ltd (Registered number: 07259684)

Balance Sheet - continued
30th May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th April 2025 and were signed on its behalf by:





S N H Shah - Director


Pharma Plus Medical Ltd (Registered number: 07259684)

Notes to the Financial Statements
for the period 1st June 2023 to 30th May 2024

1. Statutory information

Pharma Plus Medical Ltd 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.

2. Accounting policies

Basis of preparing the financial statements
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. 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 for pharmacy goods and services, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

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.
Motor vehicles - Straight line over 5 years

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

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, inter-company loans, trade creditors,accruals and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), inter-company loans, trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 the Statement of Income and Retained Earnings.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Pharma Plus Medical Ltd (Registered number: 07259684)

Notes to the Financial Statements - continued
for the period 1st June 2023 to 30th May 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
Due to operational and staffing issues the company ceased trading in January 2025. At the date of approving these financial statements the director is considering various options for the company going forward.

3. Employees and directors

The average number of employees during the period was 9 (2023 - 6 ) .

Pharma Plus Medical Ltd (Registered number: 07259684)

Notes to the Financial Statements - continued
for the period 1st June 2023 to 30th May 2024

4. Tangible fixed assets
Motor
vehicles
£   
Cost
At 1st June 2023 13,532
Additions 7,000
Disposals (6,224 )
At 30th May 2024 14,308
Depreciation
At 1st June 2023 9,279
Charge for period 1,050
Eliminated on disposal (1,971 )
At 30th May 2024 8,358
Net book value
At 30th May 2024 5,950
At 31st May 2023 4,253

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 120,426 75,787
Amounts owed by group undertakings 3,912 22,055
Other debtors 356,305 40,238
480,643 138,080

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 71,435 -
Trade creditors 122,697 106,376
Amounts owed to group undertakings 61,057 -
Taxation and social security 98,590 19,503
Other creditors 42,397 44,033
396,176 169,912

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 68,345 -

8. Other financial commitments

At 30th May 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £120,250 (2023 - £133,250).

Pharma Plus Medical Ltd (Registered number: 07259684)

Notes to the Financial Statements - continued
for the period 1st June 2023 to 30th May 2024

9. Directors' advances, credits and guarantees

The following advances and credits to the director subsisted during the years ended 30th May 2024 and 31st May 2023:
20242023
Director
Balance outstanding at start of year--
Amounts advanced747,789-
Amount repaid(512,100)-
232,689-

This loan is unsecured, interest has been charged at the official rates published by HMRC and it is repayable on demand.

10. Ultimate controlling party

Pharma Plus Medical Ltd is the wholy owned subsidiary of Health Hut Professionals Ltd a small company registered in England and Wales.