Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312025-05-01falsetruefalse62023-09-01Community pharmacy6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08053317 2023-09-01 2024-08-31 08053317 2022-09-01 2023-08-31 08053317 2024-08-31 08053317 2023-08-31 08053317 c:Director1 2023-09-01 2024-08-31 08053317 d:MotorVehicles 2023-09-01 2024-08-31 08053317 d:MotorVehicles 2024-08-31 08053317 d:MotorVehicles 2023-08-31 08053317 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08053317 d:FurnitureFittings 2023-09-01 2024-08-31 08053317 d:FurnitureFittings 2024-08-31 08053317 d:FurnitureFittings 2023-08-31 08053317 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08053317 d:OfficeEquipment 2023-09-01 2024-08-31 08053317 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08053317 d:Goodwill 2023-09-01 2024-08-31 08053317 d:Goodwill 2024-08-31 08053317 d:Goodwill 2023-08-31 08053317 d:CurrentFinancialInstruments 2024-08-31 08053317 d:CurrentFinancialInstruments 2023-08-31 08053317 d:Non-currentFinancialInstruments 2024-08-31 08053317 d:Non-currentFinancialInstruments 2023-08-31 08053317 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 08053317 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08053317 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 08053317 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08053317 d:UKTax 2023-09-01 2024-08-31 08053317 d:UKTax 2022-09-01 2023-08-31 08053317 d:ShareCapital 2024-08-31 08053317 d:ShareCapital 2023-08-31 08053317 d:RetainedEarningsAccumulatedLosses 2024-08-31 08053317 d:RetainedEarningsAccumulatedLosses 2023-08-31 08053317 c:FRS102 2023-09-01 2024-08-31 08053317 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08053317 c:FullAccounts 2023-09-01 2024-08-31 08053317 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08053317 2 2023-09-01 2024-08-31 08053317 d:Goodwill d:OwnedIntangibleAssets 2023-09-01 2024-08-31 08053317 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 08053317










RSM PHARMA LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
RSM PHARMA LTD
REGISTERED NUMBER: 08053317

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
195,706
293,559

Tangible assets
 6 
8,048
10,731

  
203,754
304,290

Current assets
  

Stocks
  
26,141
28,295

Debtors: amounts falling due within one year
 7 
96,981
111,853

Cash at bank and in hand
  
103,560
169,677

  
226,682
309,825

Creditors: amounts falling due within one year
 8 
(303,320)
(427,922)

Net current liabilities
  
 
 
(76,638)
 
 
(118,097)

Total assets less current liabilities
  
127,116
186,193

Creditors: amounts falling due after more than one year
 9 
(279,756)
(314,339)

Provisions for liabilities
  

Deferred tax
  
(2,012)
(2,039)

  
 
 
(2,012)
 
 
(2,039)

Net liabilities
  
(154,652)
(130,185)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(154,653)
(130,186)

  
(154,652)
(130,185)


Page 1

 
RSM PHARMA LTD
REGISTERED NUMBER: 08053317
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 May 2025.




Mr R Marok
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

RSM Pharma Ltd is a private company, limited by share capital, incorporated in England and Wales under registration number: 08053317. The address of the registered office is Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholder. The shareholder of the company has sufficient resources to finance the company as and when the need arises.
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholder to ensure that the company will continue in operational existence for the foreseeable future.

Page 3

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 5

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
25,348
25,729


25,348
25,729


Total current tax
25,348
25,729

Deferred tax


Origination and reversal of timing differences
(27)
(680)

Total deferred tax
(27)
(680)


25,321
25,049
Page 7

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
4.Taxation (continued)


Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 25% (2023 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
978,531



At 31 August 2024

978,531



Amortisation


At 1 September 2023
684,972


Charge for the year on owned assets
97,853



At 31 August 2024

782,825



Net book value



At 31 August 2024
195,706



At 31 August 2023
293,559



Page 8

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Tangible fixed assets





Delivery van
Fixtures, fittings and Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
11,795
37,293
49,088



At 31 August 2024

11,795
37,293
49,088



Depreciation


At 1 September 2023
7,103
31,254
38,357


Charge for the year on owned assets
1,173
1,510
2,683



At 31 August 2024

8,276
32,764
41,040



Net book value



At 31 August 2024
3,519
4,529
8,048



At 31 August 2023
4,692
6,039
10,731


7.


Debtors

2024
2023
£
£


Trade debtors
86,771
100,245

VAT repayable
9,927
10,890

Prepayments
283
718

96,981
111,853


Page 9

 
RSM PHARMA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
62,179
62,686

Trade creditors
117,077
137,278

Wages & Salaries
10,550
9,897

Director's loan account
84,323
189,565

Corporation tax payable
25,348
25,729

Other taxation and social security
3,182
2,140

Pension payable
661
627

303,320
427,922


Bank loan is secured by a fixed and floating charge over the assets of the company.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
279,756
314,339

279,756
314,339


Bank loan is secured by a fixed and floating charge over the assets of the company.


10.


Controlling party

The company is under the control of the director Mr R Marok, by virtue of the fact that he owns 100% of the company's issued share capital.

 
Page 10