Acorah Software Products - Accounts Production 16.3.350 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 13039770 Mr Neil Karia Mrs Vanisha Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13039770 2023-11-30 13039770 2024-11-30 13039770 2023-12-01 2024-11-30 13039770 frs-core:CurrentFinancialInstruments 2024-11-30 13039770 frs-core:Non-currentFinancialInstruments 2024-11-30 13039770 frs-core:FurnitureFittings 2024-11-30 13039770 frs-core:FurnitureFittings 2023-12-01 2024-11-30 13039770 frs-core:FurnitureFittings 2023-11-30 13039770 frs-core:NetGoodwill 2024-11-30 13039770 frs-core:NetGoodwill 2023-12-01 2024-11-30 13039770 frs-core:NetGoodwill 2023-11-30 13039770 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-11-30 13039770 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 13039770 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 13039770 frs-core:ShareCapital 2024-11-30 13039770 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 13039770 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 13039770 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 13039770 frs-bus:SmallEntities 2023-12-01 2024-11-30 13039770 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 13039770 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 13039770 frs-bus:Director1 2023-12-01 2024-11-30 13039770 frs-bus:Director2 2023-12-01 2024-11-30 13039770 frs-countries:EnglandWales 2023-12-01 2024-11-30 13039770 2022-11-30 13039770 2023-11-30 13039770 2022-12-01 2023-11-30 13039770 frs-core:CurrentFinancialInstruments 2023-11-30 13039770 frs-core:Non-currentFinancialInstruments 2023-11-30 13039770 frs-core:ShareCapital 2023-11-30 13039770 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 13039770
Vnkpharma Ltd
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13039770
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 551,393 584,643
Tangible Assets 5 56,209 17,600
607,602 602,243
CURRENT ASSETS
Stocks 37,488 41,548
Debtors 6 122,978 130,187
Cash at bank and in hand 191,716 182,719
352,182 354,454
Creditors: Amounts Falling Due Within One Year 7 (481,016 ) (533,850 )
NET CURRENT ASSETS (LIABILITIES) (128,834 ) (179,396 )
TOTAL ASSETS LESS CURRENT LIABILITIES 478,768 422,847
Creditors: Amounts Falling Due After More Than One Year 8 - (100,587 )
NET ASSETS 478,768 322,260
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 478,668 322,160
SHAREHOLDERS' FUNDS 478,768 322,260
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The financial statements were approved by the board of directors on 22 May 2025 and were signed on its behalf by:
Mr Neil Karia
Director
22 May 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vnkpharma Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13039770 . The registered office is 21 Ablett Street, London, SE16 3BL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. 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:
Leasehold No depreciation
Fixtures & Fittings 20 % Reducing balance
2.5. Leasing and Hire Purchase Contracts
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2.6. 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.
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2.7. 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.
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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. 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.
2.10. 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.
2.11. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation
at the reporting date as a result of a past event, it is probable that economic benefit will be
transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 664,997
As at 30 November 2024 664,997
Amortisation
As at 1 December 2023 80,354
Provided during the period 33,250
As at 30 November 2024 113,604
Net Book Value
As at 30 November 2024 551,393
As at 1 December 2023 584,643
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2023 10,933 11,104 22,037
Additions - 41,910 41,910
As at 30 November 2024 10,933 53,014 63,947
Depreciation
As at 1 December 2023 - 4,437 4,437
Provided during the period - 3,301 3,301
As at 30 November 2024 - 7,738 7,738
Net Book Value
As at 30 November 2024 10,933 45,276 56,209
As at 1 December 2023 10,933 6,667 17,600
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,059 120,194
Other debtors 21,919 9,993
122,978 130,187
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 75,320 96,974
Corporation tax 74,641 77,827
Other creditors 331,055 359,049
481,016 533,850
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 100,587
9. Related Party Transactions
Mr Neil Karia and Mrs Vanisha Patel are Directors of Vnkpharma Ltd.
As the balance sheet date, the total amount owed by the company to the directors £315,856.96 (£2023 : £351,395.40 ).
During the year the company has declared dividend of £73,000.00 (2023: £75,000.00).
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