REGISTERED NUMBER: 06485910 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Pharmalys Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms M S Ba

REGISTERED OFFICE:

Devonshire House

One Mayfair Place

London

W1J 8AJ

REGISTERED NUMBER:

06485910 (England and Wales)

FIXED ASSETS

Tangible assets

4

18,047

19,203

CURRENT ASSETS

Debtors

5

210,906

426,048

Cash at bank

256

144,775

211,162

570,823

CREDITORS

Amounts falling due within one year

6

737,123

576,453

NET CURRENT LIABILITIES

(525,961

)

(5,630

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(507,914

)

13,573

CREDITORS

Amounts falling due after more than one year

7

(4,166

)

(14,167

)

PROVISIONS FOR LIABILITIES

9

(1,849

)

(4,365

)

NET LIABILITIES

(513,929

)

(4,959

)

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

(513,930

)

(4,960

)

SHAREHOLDERS' FUNDS

(513,929

)

(4,959

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 September 2025 and were signed by:

Ms M S Ba - Director

1.	STATUTORY INFORMATION

Pharmalys Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operation for the foreseeable future. The director, who is the major creditors, have confirmed that she will continue to make sure funds as are needed by the company and in particular will not seek repayment from the amounts currently made available that would otherwise place the company in insolvency.

Based on this undertaking the director believes that the company will have sufficient resources to enable it to continue normal trading operation for a period of at least twelve months from the date of approval of these financial statements, and therefore it is appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

6,537

77,179

83,716

Additions

-

7,127

7,127

At 31 December 2024

6,537

84,306

90,843

DEPRECIATION

At 1 January 2024

6,346

58,167

64,513

Charge for year

191

8,092

8,283

At 31 December 2024

6,537

66,259

72,796

NET BOOK VALUE

At 31 December 2024

-

18,047

18,047

At 31 December 2023

191

19,012

19,203

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade debtors

96,040

270,430

Other debtors

114,866

155,618

210,906

426,048

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans and overdrafts

18,123

10,000

Trade creditors

20,861

28,497

Taxation and social security

235,529

199,133

Other creditors

462,610

338,823

737,123

576,453

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans

4,166

14,167

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

as restated

£

£

Bank overdraft

8,123

-

Bank loans

14,166

24,167

22,289

24,167

The aggregate amount of creditors for which security has been given amounted to £14,166 (2023 - £24,167) and is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme.

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

as restated

£

£

Deferred tax

Accelerated capital allowances

1,849

4,365

Deferred

tax

£

Balance at 1 January 2024

4,365

Accelerated capital allowances

(2,516

)

Balance at 31 December 2024

1,849

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

as restated

£

£

1

Ordinary

£1

1

1

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,007 (2023 - £11,553). Contributions totalling £1,884 (2023 - £4,410) were payable to the fund at the balance sheet date.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date, the balance due to the director was £123,925 (2023 - £168,657).