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Registered Number: 02808198
England and Wales

 

 

 

FENTON PHARMACEUTICALS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Directors Graham Hill
Helen Clarkson
Registered Number 02808198
Registered Office Fenton House
4 Hampstead Gate
London
London
NW3 6AL
Accountants Moorhurst Partners LLP
Suite 39
49 Albert Buildings
Queen Victoria Street
London
EC4N 4SA
1
Director's report and financial statements
The directors present his annual report and the financial statements for the year ended 31 October 2024.
Principal activities
Principal activity of the company during the financial year was of supply of Medical Equipment.
Directors
The directors who served the company throughout the year were as follows:
Graham Hill
Helen Clarkson
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Graham Hill
Director

Date approved: 14 May 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of FENTON PHARMACEUTICALS LTD for the year ended 31 October 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FENTON PHARMACEUTICALS LTD for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of FENTON PHARMACEUTICALS LTD, as a body, in accordance with the terms of our engagement letter dated 01 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of FENTON PHARMACEUTICALS LTD and state those matters that we have agreed to state to the Board of Directors of FENTON PHARMACEUTICALS LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FENTON PHARMACEUTICALS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FENTON PHARMACEUTICALS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FENTON PHARMACEUTICALS LTD. You consider that FENTON PHARMACEUTICALS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FENTON PHARMACEUTICALS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 October 2024.



....................................................

Moorhurst Partners LLP

Suite 39
49 Albert Buildings
Queen Victoria Street
London
EC4N 4SA
14 May 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 76,501    1 
Tangible fixed assets 4 56,541    41,687 
Investments 5 4,037,232    2,699,321 
4,170,274    2,741,009 
Current assets      
Stocks 6 527,848    987,891 
Debtors 7 1,910,895    1,317,396 
Cash at bank and in hand 1,903,719    1,739,678 
4,342,462    4,044,965 
Creditors: amount falling due within one year 8 (2,049,924)   (1,311,417)
Net current assets 2,292,538    2,733,548 
 
Total assets less current liabilities 6,462,812    5,474,557 
Net assets 6,462,812    5,474,557 
 

Capital and reserves
     
Called up share capital 800    800 
Reserves 9   (44,013)
Capital Redemption Reserve 10 200    200 
Profit and loss account 6,461,812    5,517,570 
Shareholders' funds 6,462,812    5,474,557 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 May 2025 and were signed on its behalf by:


-------------------------------
Graham Hill
Director
4
General Information
FENTON PHARMACEUTICALS LTD is a private company, limited by shares, registered in England and Wales, registration number 02808198, registration address Fenton House, 4 Hampstead Gate, London, London, NW3 6AL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of 0 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill   Patents   Total
  £   £   £
At 01 November 2023   300,000    300,000 
Additions 85,000      85,000 
Disposals    
At 31 October 2024 85,000    300,000    385,000 
Amortisation
At 01 November 2023   299,999    299,999 
Charge for year 8,500      8,500 
On disposals    
At 31 October 2024 8,500    299,999    308,499 
Net book values
At 31 October 2024 76,500      76,501 
At 31 October 2023     1 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 November 2023 95,229    95,229 
Additions 27,337    27,337 
Disposals  
At 31 October 2024 122,566    122,566 
Depreciation
At 01 November 2023 53,542    53,542 
Charge for year 12,483    12,483 
On disposals  
At 31 October 2024 66,025    66,025 
Net book values
Closing balance as at 31 October 2024 56,541    56,541 
Opening balance as at 01 November 2023 41,687    41,687 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 November 2023 2,699,321    2,699,321 
Additions 1,317,441    1,317,441 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 20,470    20,470 
At 31 October 2024 4,037,232    4,037,232 

6.

Stocks

2024
£
  2023
£
Stocks 527,848    987,891 
527,848    987,891 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 1,842,698    1,247,254 
Prepayments & Accrued Income 22,543    24,488 
Other Debtors 45,654    45,654 
1,910,895    1,317,396 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 433,369    818,781 
Corporation Tax 293,328    228,810 
PAYE & Social Security 7,167    7,595 
Accrued Expenses 845,372    25,163 
Directors' Current Accounts 14,592    3,753 
VAT 456,096    227,315 
2,049,924    1,311,417 

9.

Reserves

2024
£
  2023
£
Investments w/off Revalued   (44,013)
  (44,013)

10.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 200    200 
200    200 

11.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Fenton Property72,948 75,047 

During the year the business paid Commercial Rent to an entity controlled by the Director.
5