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Registered number: 11104227
Azure Pharma Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
L & S Accountancy Services
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11104227
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,064 68,787
54,064 68,787
CURRENT ASSETS
Stocks 5 19,260 37,240
Debtors 6 124,541 135,980
Cash at bank and in hand 519,505 408,376
663,306 581,596
Creditors: Amounts Falling Due Within One Year 7 (150,297 ) (142,148 )
NET CURRENT ASSETS (LIABILITIES) 513,009 439,448
TOTAL ASSETS LESS CURRENT LIABILITIES 567,073 508,235
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (24,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,933 ) (13,069 )
NET ASSETS 539,973 470,999
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 539,972 470,998
SHAREHOLDERS' FUNDS 539,973 470,999
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Chantel Ellul
Director
17/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Azure Pharma Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11104227 . The registered office is 64 High Street, Belper, Derbyshire, DE56 1GF.
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 15% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Straight Line
Computer Equipment 33.33% Straight Line
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
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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: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 1,332 74,680 18,088 17,881 111,981
Additions 570 - 2,066 916 3,552
As at 31 December 2023 1,902 74,680 20,154 18,797 115,533
Depreciation
As at 1 January 2023 200 18,670 7,519 16,805 43,194
Provided during the period 285 14,003 3,023 964 18,275
As at 31 December 2023 485 32,673 10,542 17,769 61,469
Net Book Value
As at 31 December 2023 1,417 42,007 9,612 1,028 54,064
As at 1 January 2023 1,132 56,010 10,569 1,076 68,787
5. Stocks
2023 2022
£ £
Work in progress 19,260 37,240
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,016 7,920
Other debtors 122,525 128,060
124,541 135,980
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,215 164
Bank loans and overdrafts 10,000 10,000
Other creditors 8,289 6,722
Taxation and social security 130,793 125,262
150,297 142,148
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Miss Chantel Ellul 105,586 173,959 179,737 - 99,808
The above loan is unsecured, interest free and repayable on demand.
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