Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr Judith Ashburner 11/07/2018 Dr Simon Andrew Desert 09/04/2009 Dr Mark Andrew Kinghan 25/02/2014 Dr Caroline Jane Knox 11/07/2018 Dr Mary Louise Philipsz 18/07/2018 Dr Carolyn Rigg 11/07/2018 Dr Robert Andrew Rudman 11/07/2018 29 May 2025 The principal activity of the company is that of a pharmacy. 06874733 2024-03-31 06874733 bus:Director1 2024-03-31 06874733 bus:Director2 2024-03-31 06874733 bus:Director3 2024-03-31 06874733 bus:Director4 2024-03-31 06874733 bus:Director5 2024-03-31 06874733 bus:Director6 2024-03-31 06874733 bus:Director7 2024-03-31 06874733 2023-03-31 06874733 core:CurrentFinancialInstruments 2024-03-31 06874733 core:CurrentFinancialInstruments 2023-03-31 06874733 core:ShareCapital 2024-03-31 06874733 core:ShareCapital 2023-03-31 06874733 core:OtherCapitalReserve 2024-03-31 06874733 core:OtherCapitalReserve 2023-03-31 06874733 core:RetainedEarningsAccumulatedLosses 2024-03-31 06874733 core:RetainedEarningsAccumulatedLosses 2023-03-31 06874733 core:Vehicles 2023-03-31 06874733 core:FurnitureFittings 2023-03-31 06874733 core:Vehicles 2024-03-31 06874733 core:FurnitureFittings 2024-03-31 06874733 2023-04-01 2024-03-31 06874733 bus:FilletedAccounts 2023-04-01 2024-03-31 06874733 bus:SmallEntities 2023-04-01 2024-03-31 06874733 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06874733 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06874733 bus:Director1 2023-04-01 2024-03-31 06874733 bus:Director2 2023-04-01 2024-03-31 06874733 bus:Director3 2023-04-01 2024-03-31 06874733 bus:Director4 2023-04-01 2024-03-31 06874733 bus:Director5 2023-04-01 2024-03-31 06874733 bus:Director6 2023-04-01 2024-03-31 06874733 bus:Director7 2023-04-01 2024-03-31 06874733 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 06874733 core:FurnitureFittings 2023-04-01 2024-03-31 06874733 2022-04-01 2023-03-31 06874733 core:Vehicles 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 06874733 (England and Wales)

TRINITY PHARMA LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TRINITY PHARMA LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TRINITY PHARMA LTD

BALANCE SHEET

As at 31 March 2024
TRINITY PHARMA LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 13,257 12,211
13,257 12,211
Current assets
Stocks 11,616 8,303
Debtors 4 584,967 303,468
Cash at bank and in hand 42,721 40,672
639,304 352,443
Creditors: amounts falling due within one year 5 ( 1,496,904) ( 890,777)
Net current liabilities (857,600) (538,334)
Total assets less current liabilities (844,343) (526,123)
Net liabilities ( 844,343) ( 526,123)
Capital and reserves
Called-up share capital 1,136 1,136
Other reserves 362,221 362,221
Profit and loss account ( 1,207,700 ) ( 889,480 )
Total shareholders' deficit ( 844,343) ( 526,123)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Trinity Pharma Ltd (registered number: 06874733) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Dr Mark Andrew Kinghan
Director
TRINITY PHARMA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TRINITY PHARMA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trinity Pharma Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Castlegate Pharmacy Cockermouth Community Hospital And Health Centre, Isel Road, Cockermouth, CA13 9HT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company has net liabilities at 31 March 2024 and meets its day to day working capital requirements through credit offered by its trade creditors, the largest of which is an entity where the directors hold an interest. On the basis that this support has been confirmed for the next 12 months, the directors consider it appropriate to prepare the financial statements on the going concern basis.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 3 years straight line
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 64

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 9,639 39,956 49,595
Additions 13,750 1,410 15,160
Disposals ( 13,889) ( 2,039) ( 15,928)
At 31 March 2024 9,500 39,327 48,827
Accumulated depreciation
At 01 April 2023 9,639 27,745 37,384
Charge for the financial year 1,674 2,151 3,825
Disposals ( 5,639) 0 ( 5,639)
At 31 March 2024 5,674 29,896 35,570
Net book value
At 31 March 2024 3,826 9,431 13,257
At 31 March 2023 0 12,211 12,211

4. Debtors

2024 2023
£ £
Trade debtors 383,268 253,903
Other debtors 201,699 49,565
584,967 303,468

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,398,443 823,624
Other taxation and social security 5,589 22,967
Other creditors 92,872 44,186
1,496,904 890,777

6. Other information

During last year we were made aware of some mismanagement and fraud within the company. Investigations are on-going and where possible estimates of amounts to be repaid have been included in the accounts. If any further figures come to light, following the investigations, we will amend the accounts via a prior year adjustment.