Registered number
07257112
PHARMACEE SERVICES LTD
Filleted Accounts
31 May 2024
PHARMACEE SERVICES LTD
Registered number: 07257112
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 260,433 290,483
Tangible assets 4 6,047 6,416
266,480 296,899
Current assets
Stocks 79,383 78,981
Debtors 5 134,245 124,618
Cash at bank and in hand 115,184 224,978
328,812 428,577
Creditors: amounts falling due within one year 6 (145,846) (353,528)
Net current assets 182,966 75,049
Net assets 449,446 371,948
Capital and reserves
Called up share capital 100 100
Profit and loss account 449,346 371,848
Shareholders' funds 449,446 371,948
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Niket Shah
Director
Approved by the board on 30 May 2025
PHARMACEE SERVICES LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 601,000
At 31 May 2024 601,000
Amortisation
At 1 June 2023 310,517
Provided during the year 30,050
At 31 May 2024 340,567
Net book value
At 31 May 2024 260,433
At 31 May 2023 290,483
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 24,705
At 31 May 2024 24,705
Depreciation
At 1 June 2023 18,289
Charge for the year 369
At 31 May 2024 18,658
Net book value
At 31 May 2024 6,047
At 31 May 2023 6,416
5 Debtors 2024 2023
£ £
Trade debtors 90,393 80,766
Amounts owed by group undertakings and undertakings in which the company has a participating interest 25,000 25,000
Other debtors 18,852 18,852
134,245 124,618
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 54,303 49,184
Corporation tax 61,544 60,446
Other taxes and social security costs 1,892 1,901
Other creditors 28,107 241,997
145,846 353,528
Bank loan is secured by fixed and floating charge over the assets of the company.
7 Other information
PHARMACEE SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
249 Ongar Road
Brentwood
Essex
CM15 9DZ
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