Company registration number 06887383 (England and Wales)
EXCEL PHARMA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EXCEL PHARMA LIMITED
COMPANY INFORMATION
Directors
Mrs A K Esmail
Mr A Esmail
Secretary
Mrs A K Esmail
Company number
06887383
Registered office
36 Grove Farm Park
Northwood
Middlesex
HA6 2BQ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
Units 164-166
Midsummer Arcade
Milton Keynes
MK9 3BA
EXCEL PHARMA LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
EXCEL PHARMA LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EXCEL PHARMA LIMITED FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Excel Pharma Limited for the year ended 28 September 2024 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Excel Pharma Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Excel Pharma Limited and state those matters that we have agreed to state to the board of directors of Excel Pharma Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excel Pharma Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Excel Pharma Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Excel Pharma Limited. You consider that Excel Pharma Limited 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 financial statements of Excel Pharma Limited. 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 financial statements.

Ormerod Rutter Limited
22 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
EXCEL PHARMA LIMITED
BALANCE SHEET
AS AT 28 SEPTEMBER 2024
28 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,655
3,730
Investments
4
297,580
296,043
300,235
299,773
Current assets
Debtors
5
875,196
823,600
Cash at bank and in hand
119,866
104,278
995,062
927,878
Creditors: amounts falling due within one year
6
(189,557)
(15,977)
Net current assets
805,505
911,901
Net assets
1,105,740
1,211,674
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,105,738
1,211,672
Total equity
1,105,740
1,211,674

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 22 April 2025 and are signed on its behalf by:
Mr A Esmail
Director
Company registration number 06887383 (England and Wales)
EXCEL PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Excel Pharma Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Grove Farm Park, Northwood, Middlesex, HA6 2BQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computer equipment
33% on cost

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.

1.3
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

EXCEL PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
EXCEL PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 29 September 2023 and 28 September 2024
4,598
11,671
6,521
22,790
Depreciation and impairment
At 29 September 2023
4,433
8,697
5,930
19,060
Depreciation charged in the year
41
743
291
1,075
At 28 September 2024
4,474
9,440
6,221
20,135
Carrying amount
At 28 September 2024
124
2,231
300
2,655
At 28 September 2023
165
2,974
591
3,730
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
297,580
296,043
Movements in fixed asset investments
Investments
£
Cost or valuation
At 29 September 2023
296,043
Additions
12,708
Valuation changes
(2,760)
Disposals
(8,411)
At 28 September 2024
297,580
Carrying amount
At 28 September 2024
297,580
At 28 September 2023
296,043
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
875,196
813,256
Deferred tax asset
-
0
10,344
875,196
823,600
EXCEL PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10
779
Taxation and social security
11,673
12,184
Other creditors
177,874
3,014
189,557
15,977
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
8
Ultimate controlling party

The ultimate controlling party is Mr A Esmail and Mrs A K Esmail.

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